INNER HARBOR VILLAGE CONDOMINIUM ASSOCIATION

Board of Directors Meeting

October 10, 2008

The meeting was called to order by Dan Quail, President, at 3:00 PM. 

Board members present: Dan Quail, Pegi Graham, Jan Lucas; absent Ruth Seaberg.  Also, present was Deb Lanksbury (substituting for Dan Lanksbury), Property Manager.

The Minutes of the September 12, 2008 board meeting were approved.

Financial Report, Pegi Graham

Checking account balance     $  6,766.70

Reserve account balance       $68,610.96

As of today, 50% of the dues have been received; any outstanding checks will be paid by this revenue.

Budget

We were $7,000.00 under budget mainly due to landscaping.  Because of rain, mowing was not possible for a couple of weeks.

Insurance

We received the Conditional Renewal notice from Community Association Underwriters of America, Inc. (CAU) our insurance company.  The question was raised, what does a conditional renewal mean, and if the company chooses not to renew, for any particular reason, what type of notification can we expect to receive, 30, 45, 60, 90 days?  Two weeks notice would hardly be enough time to acquire and research other insurance companies. Jan will call the local office and follow up with these questions.

A motion was made and passed to increase our liability insurance by purchasing an umbrella policy in addition to our basic policy. 

We presently have $2M liability under the basic policy. The umbrella policy will increase the liability by another $10M, and increase our insurance premium by approximately $500.00 a year.  Our total insurance premium for the policy period 11-04-08 to 11-04-09 is $20,065.00, (1/3 down payment, and 8 equal installments).

Concrete Driveways

Sound Concrete Solutions replaced driveways at Buildings 4 & 10 and also completed the drainage problem in Building 10.  However, during the curing time and sometime in the middle of the night, a car drove through the roped off area and left tracks. A call was made to Sound Concrete Solutions, to see what they could do to fix it.  We will have to wait and see how the end results look. These projects were budgeted for $9,000.00 and with sales tax inclusive; we came over budget by $159.00.

Landscaping, & Maintenance, Dan Lanksbury

• Received 3 work orders, all non-emergency. Work items will be held until several similar items are compiled so time and dollars are spent wisely.
• Concern of moisture under stairs of Bldg. #5 was mentioned. Checked 4 times after rainstorms; area appears to be dry but will continue to watch.
• Pruning and lawn care on schedule.
• Irrigation times were turned off Sept. 18^th, valves were shut-off on Sep. 23^rd.
• Shrubs cut back from Buildings 1,2,3,4, & 5 based on info from the Boards inspection report of these buildings.
• October 1^st, Town & Country Tree Service removed 2, Alders, 3 Hemlocks and a nurse stump.  Several Hemlocks and Birch branches were pruned from various roofs and buildings.
• Mike Perillo from C&M Roofing completed his roof inspection of every building. A report was made and discussion next month on where and when to proceed with necessary repairs.  Report showed many roof jacks need replacing before winter sets in; waiting for Mike Perillo with firm date.
• The railings with primer on them will be painted when weather permits

Gutter Repairs

Gutter repairs, and window washing was scheduled with Jeremy of All Clear Windows, for September 25^th, but due to weather, it has been postponed until November 10^th.   His quote for the above was $3,100. During the board inspection of the buildings, several down spouts and drain pipes were either damaged, not connected, or plugged.  It was determined to have Jeremy clean and repair these at the same time.  Contact with him to determine the cost of this additional project needs to be made.  Until all repairs are finished, the windows will not be washed.

Outside plumbing leak

A leaking hose bib hydrant at Building #5 was repaired. Brett Nelson, Plumbing Repair Service replaced the hydrant which was broken where there was a break in PVC pipe connected to the metal pipe of the hydrant. Gravel was backfilled into the hole and Concrete Sound Solutions will place concrete in the hole to provide additional support.

New Business

IHVCA Safety Meeting presented by the Fire Department is being scheduled for November.  We should know the exact date by the next board meeting.

Old Business

·       Buildings # 1,2,3,4,5,6,7,17, & 18 inspections by the board have been completed.  Depending on the weather, the remaining building inspections will hopefully be completed before winter sets in.

·       Jan and Ruth have assembled a Welcome Package of miscellaneous information to be given to new homeowners. Board members will review and discuss.

·       Resale certificate and Senate Bill 6215.  A new resale certificate and requirements by this bill is still in progress.  Several questions and research required.

 There being no further business, the meeting was adjourned at 5:00 PM.

Respectfully submitted,

Janet M. Lucas, Vice President