INNER HARBOR VILLAGE CONDOMINIUM ASSOCIATION
ANNUAL MEETING
JUNE 26, 2010

The meeting was called to order by Dan Quail, President.  He welcomed new homeowners, John and Mary Ann Walker, and Henry and Margaret Nelson.  He introduced board members Gregg Hupp, Marianne Barber and Ruth Seaberg, and thanked  departing member Bill Lane for his service .  He also introduced Dan Lanksbury, our property manager, who has served  with great success for the past two years.

A motion was made and passed to approve the minutes of the 2009 annual meeting. 

Budget Reports– Dan Quail

Our estimated budget for 2009/10 was $110,550 and actual expenses were $109,975.

Our reserve budget was $16,696 and reserve expenses were $16,292.

Treasurer’s Report – Marianne Barber

Marianne presented the financial review for fiscal year 2009-2010, which indicates that  our finances are in good order.  She thanked Pegi Graham, our former Treasurer, for handing over

the records in excellent form. Operating and reserve income is at or close to budget.  All homeowners are current on their assessments.  Operating expenses are below budget . but preapproved work still needs to be done when the weather improves.  Reserve  expenses are close to budget because all budgeted work for the reserve account has been completed.  Our checking account balance is $15,747. Reserve account balance is $85,443.

Property Manager’s Report – Dan Lanksbury

Landscaping  -   Routine tree maintenance and pruning were performed as well as shrub removal and replacement due to the freeze.  Drainage issues on the bluff  behind No. Chandler were addressed and brush and vegetation were cut back. 

The irrigation system was repaired and improved.  Rain sensors were  placed on irrigation timers to reduce water consumption.

Repair and Maintenance  -  Fifty-two work requests were received during the year. 

Eight roofs were cleaned.  One skylight was repaired due to leakage, one major repair was made to a leaking roof, five gutter repairs were made, caulking and siding repair was done on a leaking window sill, fifteen chimney caps were wire brushed and painted, all gutters were cleaned.

Caulking and painting was completed on numerous buildings.  Damaged trim and trim touch-up was done on additional five buildings.

One driveway was replaced.  Concrete curbs were repaired on one building.

 Stair railing systems were replaced on two buildings.  Trim on rotted rails and posts were repaired on three buildings.  A drainage issue was resolved for an under stairs storage area.

 Two frozen hose bibb  pipes were repaired.  Hose bibb insulators were installed and then removed in the spring on all non-protected hose bibbs.

An electric pressure washer for condo owner use was purchased.

We have an ongoing maintenance contract with Sunrise  Pest Control. 

Drainage pond maintenance – Installed screen to help limit blockage caused by beavers damming up the culvert to the bay.   Ongoing maintenance of water flow through the culvert is still required.

Twelve vent screens and one access door were replaced or repaired.

To deter bats, stainless steel wool was inserted under roof tiles over stairway on seven buildings. 

Scheduled Large Projects – Repair blacktop and remove trip hazards at driveways.  Annual roof cleaning on 4 1/2 buildings. wash or paint siding below chimneys to remove rust and stains, paint trim as required,  repair and refurbish mailbox stands, repair gutters and add flashing to eliminate overflow. 

Homeowners may sign up for chimney and dryer vent cleaning.

Reserve Study and Proposed Budget – Dan Quail

Dan explained the reserve study and how we determine the estimated cost of repairs in the future.  We contributed $27,000 this year to the reserve account from the operating fund.  Repair of  entry stairs has been a major expense this year but  is now completed.  The Board has determined that we do not  need a professional reserve study this year.

The proposed budget for  2010-2011 is $110,550.  We do not anticipate an increase in dues for the next two years.

 Audit

The audit of our financial statements prepared by Donna LaFrere for fiscal year 7/1/08 to 6//30/09 has been completed with favorable results.  Donna complimented Pegi Graham for her outstanding work providing support for all expenditures and receipts.

Ballot Results

Thirty-four signed ballots  were received from homeowners.  Present members of the Board were reelected:  Dan Quail, Gregg Hupp, Marianne Barber, Ruth Seaberg.  There were no nominations from the floor.

Thirty-four ballots were cast for accepting the proposed budget and against having a formal audit this year. 

Automatic Dues Payment

Gregg Hupp explained the option available to members for electronic withdrawal of funds from their bank accounts for membership dues and reviewed the form to be used.  It is available at the door. 

New Business

Beaver Pond Problem

Gregg  Hupp explained the beaver problem in the drainage pond behind So.Chandler.  The beavers create a dam which raises water levels behind the condos,  killing the trees.  Also the beavers are gnawing down trees.  Pond ownership is in question.   It  drains both SBCA and Hidden Cove in addition to Inner Harbor but neither is willing to help.  IHVCA has taken responsibility for maintenance because we are most affected.  A beaver screen has been installed which requires a maintenance cost of $100 per month 

Future Events

End of summer barbeque   - September 11, 2010.
Next Annual Meeting – June 25, 2011.

Recognition of Volunteers

Dan Quail  thanked volunteer homeowners for their outstanding efforts:
Donna LaFrere, internal audit; Pegi Graham, grounds and maintenance consultation;
Bob Graham, audio-visual; Bev Rothenborg,director of social activities;
 Deb Lanksbury, assistant director of social activities;  Bill Lane, barbeque specialist
 and chief cook; Greg Lucas, driveway washer for the elderly; Doug Barber, chief counsel
 on CC&Rs and By-Laws; all homeowners who maintain their own  property and yards.

Members Forum

Homeowners were given the opportunity to voice  their concerns about the community  There were some questions and suggestions made about the drainage pond, also comments about the need to upgrade mailbox covers and the question about who is responsible for replacing concrete steps to lower units of fourplexes.  The Board will discuss these matters further.

Dan Quail requested that homeowners report any maintenance issues that they discover.

Announcement

Truman Thompson announced that there will be a celebration of his wife’s life on
 July 17, 2010 at 1:00 at the Bay Club.

A motion  was made and passed to adjourn.

                                                                                    Respectfully submitted,

                                                                                    Ruth Seaberg, Secretary