NASSAU HOUSE ASSOCIATION
BOARD OF DIRECTORS MEETING

MONDAY, NOVEMBER 8, 2010

Board Members Present:  Roy Regeski, Patrick Robinson and Marisa Schenke Abreu

Owners Present:  10

 Roy called the meeting to order at 10:00 am

Response to Previous Minutes:   

Minutes to previous meeting were read by Marisa and approved.  An owner brought up the fact that the person who had the grievance over the Granada House fence had received notice from the Board that the case was closed and a permanent lock was placed on the gate, and owner wanted to know why this person with grievance was still bringing up the matter.  Roy didn’t recall that the issue was settled even though Cheryl sent him an email to this regard last summer and Sandi had informed him this case was addressed and closed prior to the last meeting.  Roy insisted he wanted to address the issue during the last Board meeting when the owner with grievance brought it up again.  The owner with grievance wasn’t satisfied with the lock on the gate, she wanted the gate moved or the entire fence taken out.  Roy wanted to address the issue with the owner as he didn’t recall it was already resolved by the Board while he was up north.

 Treasurer’s Report:

Marisa Schenke Abreu, gave the report as follows:

Motion made to accept Treasurers report, and seconded.

 Insurance Quotes:

Roy said he received letter from Wachovia and they would like to bid on our insurance.  Roy contacted them and was told it was probably too late since we are close to our renewal date.  Marisa said our current insurance plan is increasing in premium.   Pat said our appraised value went up last year on the building and that affects our premiums as well. 

BOD Nominees/Appointments:

Roy said there are two owners, Rick Battiato and Vivian Grieco, who have volunteered to be on the Board to fill the two vacancies, and asked if there are any other volunteers.   No other volunteers came forward.  Roy made motion to appoint Rick Battiato and Vivian Grieco to the Board as temporary positions until January 23, 2011 (to fill Sandi’s position) and the other open term goes until January, 2012 (to fill Michel’s position).  Pat and Marisa seconded the motion and welcomed Rick and Vivian to the Board.  Marisa will be leaving the Board mid-December as she will be moving, and her term will also need to be filled.  Our prior Treasurer, Dawn Jenkins, may fill in for one month when Marisa leaves. There will be an election on the agenda for permanent openings for Board positions end of January, 2011. 

Management Company in 2011 (Costs and Responsibilities):

Board reviewed proposal from Integrity Property Management, Inc., they are the company that manages Granada House. Marisa reviewed some of the discussions the Board has had regarding hiring on a management company.  We’ve taken quotes and talked to other building’s Board members.  The Board still has the power to make final decisions, however, the management company will take care of all the busy work behind the scene.   IPM’s quote is for $18,240 per year.  If Cheryl cut down to two days per week in office, that savings would leave us with $10,440 needed to pay for the management company.  Also we could cut back our expense for accounting and would only need accountant to file annual tax return, and that would leave us with $8,140 needed for the management company.  Breaking down the $8140 by 152 units is $53 per unit per year, which is about $13.40 per quarter.  Pat said we may need to adjust the $13.40 figure for A, B and C units.   There are also other quote packages, but this includes keeping Cheryl in the office two days per week rather than paying three times as much for one of IPM’s employees, and giving all other responsibilities to the management company.  However, our Board still makes final decision on issues.  This may encourage more owners to become Board members.  Board will be voting on this issue after further review.. 

Representatives of Integrity Property Management, Inc. joined the meeting to answer questions posed by the Board.  The property manager for the Granada House would also take care of our building.  Their services include taking in the maintenance checks, paying all bills, coordinate the annual meeting and attend the Board meetings, bid out for insurance quotes, and prepare annual budget.  The Board has final say on all issues.   PMI would manage, but the Board is still in charge; PMI takes their direction from the Board.  PMI has vendors they’ve worked with for 20 years, but Board can keep their own vendors if they wish.  Pat said we would want to keep Miguel as he knows the building.  PMI is up on all compliance issues and state laws.  They would be here couple days each week for a couple hours each visit.  This would be a yearly contract with 30 day written cancellation with or without cause.  IPM, Inc. said they will have a property manager on call 24 hours a day.  Marisa said it would help that IPM can work on the annual budget for next year.  Owner of 603 spoke up and said a management company would take a lot of burden off the Board.   Marisa said with a management company in place there may be more owners who would be willing to sign up to be Board members.  Owner spoke up and said Treasurer needs to oversee all operations so we have checks and balances in place while the management company is involved.  BOD said the management company will take over responsibilities but the Board will overview, but we need the right people to come forward to volunteer for the Board. Roy said he will talk to current clients of this management company to gather additional information. 

Owner with parking lot grievance spoke up and addressed owner of IPM, Inc. about the fence belonging to Granada House.  Pat Robinson told this owner to leave the meeting as this issue was previously addressed and closed.   Pat said this owner was one of the reasons Michel and Sandi resigned from the Board.

New Business:

Elevator Pads:  Board decided we need to buy new elevator pads that will be lighter so owners can put them up themselves when needed.  Cost will be approximately $800 and Board will be getting quotes. 

Registered Agent:  Marge Trani said she is still getting mail addressed to her as registered agent of Nassau House for some foreclosure apartments.  Cheryl said she hasn’t been listed as registered agent in quite some time as the Articles of Incorporation have been changed.  When a couple of the apartments started into foreclosure, Marge was at that time the registered agent listed on the documents; that mail should be dropped off at the office. 

Permanent Post by Gate:  Owner with fence grievance spoke up once again, she wants a permanent post, barbed wire or chicken wire in place so no one can pass through onto her parking space.  Board said there is a permanent post by the gate and a lock on it, and there is not another parking space to give this owner as the parking spaces are deeded and belong to each apartment.

Procedures for New Owners and Renters: (Ongoing)

Window or Shutter for Breezeway:  (Ongoing)

Fire Alarm System:  (Ongoing)

Motion was made to have the meeting adjourned and was seconded.

Meeting adjourned at 12.00 p.m.

Minutes taken from tape.

Cheryl Koski, Office Manager