Meeting minutes for February 2012 Board Meeting
Monday, February 13, 2012
Jack Taylor – Association Manager
Dale Hitsman – President Jay Heath – Treasurer
Brien Sherman – Vice President
Shaun Ross – Secretary
Karen Henley – Member-At-Large
No homeowners were present.
Meeting was called to order at 6:34pm. The January 2012 minutes were approved as written.
For period ending January 31, 2012
Bank, Savings and Investment Accounts
Checking: $33,424.5
Insurance Reserve: $4,771.08
Security Deposits: $963.04
Replacement/Special Assessment CD: $256,220.85
Watermark CU Savings: $126.75
Watermark Replacement Reserve CD: $154,345.51
Petty Cash: $100.00
Total Assets: $ 449,951.74
● No committee reports.
● Shortly, the Board will have the anti-loitering devices installed on the trash room and SPU vent concrete walls. These devices should prevent people from loitering on our property. If you see people loitering on our property or in the alley, please contact the police.
● Our contractor will soon replace two damaged panels in the elevator.
● The Board has signed papers and will close our Insurance Reserve account with Bank of America. The deposits will be moved to other accounts and tracked separately as required by law.
● WARNING: Unauthorized vehicles will be towed from the dentist office spaces in the Summit Avenue garage without warning. These spaces are for their use and not for guest parking.
● We’ve renewed our master property insurance and earthquake insurance policies.
● We are expecting an insurance claim for flood damage to one of the units, as the cost for repair has exceeded the unit owners policy. As a reminder, the Associations insurance is secondary to the homeowners in relation to the Third Amendment to the Declaration adopted in September 2009. All homeowners should check their policies to insure they have a minimum of $10,000 in liability coverage. If there are questions, show the 3rd Amendment to your insurance company. The amendment is available on our website.
● At least one storage locker was broken into with the theft of a bicycle. As a reminder, please don’t store valuables in your locker. In addition, please be sure to confine your belongings to the interior of your storage locker.
● A mysterious, highly intermittent, water leak in one of the units has been reported to the Board. The unit owner will be working with their fellow stack-mates to figure out where the leak is originating.
Meeting adjourned: 7:20pm.
Our next meeting is scheduled for Monday, April 9, 2012 at 6:30pm in Unit E108. No March meeting.
Ambassador II Condominium Homeowners Association, 506 E Howell Street, Seattle, WA 98122
Ambassador II Condominium Website: https://ambassador2.com.