The meeting was opened by Andy Habe at 3:00 P.M.
Members of the board present: Andy Habe, Tom Fermi, Roger Lange, Marianne Williams
Members of the board not present: Romeo Berthiaume
The cash flow report was reviewed and approved. The bill payment report was signed. Marianne reported that there were no delinquent payments for the month of July.
Roof repairs: Tom reported that the initial estimate for repair of the roofs was increased by $400 because there is need for additional shingles to be installed because of the deterioration of the roofs in the area of damage. Scott Chase has a list of the roofs to be repaired and will do them in the order of the most severe condo damage to the least. He will also do them by building. As of the date of the meeting, #s 20 and 22 are complete and he will continue with the remaining condos in that building. In area where damage was caused by leakage under the slider, he is going to install metal coverings at the base of the slider rather than wood. He is also putting flashing in the deck area.
CAU insurance responded to our inquiry regarding a claim for the damaged roofs. They have acquired the services of DelSanto Construction, a licensed insurance inspector, to come and inspect the roofs to determine if the damaged areas were caused by the ice dams and therefore covered under our policy. He is coming to inspect the roofs on July 21.
The finance committee will meet, present and discuss with the board on July 20 a list of suggestions that included some ideas of cost cutting as well as an analysis of the sample 2012 budget. Marianne and Andy will meet with the committee on July 20 to discuss these findings. The board has a final say on any suggestions.
The board discussed the impact of a fee increase and what that increase would have to be in order to replace the reserve funds now being used to pay for the roof repairs, as well as to increase the amount of money necessary for future expenditures not only in the yearly budgets, but also to increase the reserve fund to take care of the anticipated cost of roof replacement in 2025. The expected total cost for the current repair of the roofs is expected to deplete the currently held reserves by half. Roger will work up an impact sheet which will show what the increase, based on Beneficial Interest, would be if the fees were increased by $20 or $25. For example, the average fee of $194 would be increased to either $21 or $219 respectively. The increase would be apportioned to the budget ($15) and to the reserve ($5 or $10) in order to increase money available to pay expenses with the remaining amount used to increase the reserve account. Tom reported that a survey of nearby condo complexes shows that they are now paying more than we are. For example, Juniper Hills and Liberty Estates fees are, on the average, $250 and $256. At Juniper Hill, the condo owners own and must take care of their own decks. Olde Canal Village offers many services that are not offered by the other complexes. These include spraying for ants, maintaining the decks and hatchways, as well as buying and planting of trees and shrubs and trimming of shrubs by resident and trustee, Romeo Berthiaume without cost to the residents.
FHA guideline- must be maintained in order to sell condos by owners. 25% of sales would be lost if we did not meet guidelines.
Irrigation well study- John Trombert has suggested that the board look into the digging and construction of wells for irrigation rather than the use of city water. Preliminary investigation by Tom indicates that initial cost might be from $3000 to $6000 per well. Comparing those costs to the money spent on water in the past indicates the breakeven point would take 3 to 4 years. Permission was given to John to look further into this project.
Communication forms via the internet. Bill Oncay has asked the board to reply directly to communication forms sent by email through the website. The name of the sender and the email address is on the communication so direct communication is possible. The board agreed and will begin to do so.
Communication forms: John Trombert has asked permission to install patio blocks around his bulkhead and deck area. He presented the board with a drawing of the proposed installation. Request approved.
Wilson is finished painting the bulkheads.
Roadway sealing- Tom will check with LaFleur on the cost of resealing just the roads and the rotary. The walks and driveways appear to be in good condition and just resealing the roads to prevent potholes will save money as well as continuing their upkeep.
A brief discussion held regarding the possibility of future action with the original contractor because of the damage to the condos from the ice dams as well as poor construction in other areas. Further talks regarding this issue will be held.
Richard Viens asked the board to allow his tenant, Butch Gerson, to remain in his condo for a few more days as construction on his home has been delayed by vandals stealing construction materials. Permission granted.