MINUTES

Management     

                  George Foster, Manager

Owners in Attendance:  

Meeting called to order at 9:30 AM

Minutes of previous meeting on 11/12/17 were reviewed.  Vinnie Marino motioned to approve.  Caren Fires seconded.

Financials

·         Treasurer’s Report – Dennis Wasserman:

See attached report.  No questions on financial report.  Approved.

·         Special Assessment – Steve Frankel:

A vote is needed on this.  This must be done for bank requirements.  Letter from accountant outlines reasons necessary.  It is proposed to be levied in 3 installments:  May 2018, June 2018 and July 2018.  We can’t collect until the beginning of next fiscal year (May 2018) and we must have the total by July 31, 2018.  Michael Dorn made a motion to accept. Dennis Wasserman seconded.  All approved – no dissent.  Jonathan will draft newsletter to owners regarding the assessment.  We should attach the accountant’s letter and a legal summary.

Ongoing Business

·         Litigation:

See written litigation summary prepared by Jonathan Wheeler.  Regarding the litigation, Jonathan feels that Nick Cinelli would be a better witness for the action against Rosencrantz.  His fee is $150/hour.  According to Jonathan, George Reichert doesn’t have the juice to go after what we need in the litigation.  Nick would be hired by Fox for the litigation.

·         Additional Repairs: 27^thStreet concrete pier bases need to be addressed.  Jonathan will get NickCinelli, Engineer to look at themand the promenade decks.

·         Rooftop – Michael Dorn:

Michael gave a report on this possible revenue source.  Dennis Wasserman made a motion to move forward.  Vinnie Marino seconded. 

New Business

·         Damages to Decks:

Ocean Plaza will inspect all 2^nd floor promenade decks and see what was damaged by contractor.  Boards will be replaced at our cost and back-charged to contractors.  Ocean Plaza will repaint them.

·         Pool Deck Furniture:

George will inspect furniture and remove those in bad shape and replace with new ones.  Waiting for price to do new canvas on chairs.  There is no money to replace all the furniture now.

·         Aluminum Painting:  Guzzo can paint the aluminum on the Atlantic Avenue side of the building while he is still here.  It will cost $20,000. The money can come from the Reserve Account.  This will be on a separate contract with Guzzo with no bank involvement.  They can do it on a warm day.  We have a quote for $89,000 to repaint the   aluminum on the 27^th Streetside of the building.  Tabled for now.

·         Swimming Pool Contract – There is an issue with United Pool Service.  The manager from Berkeley called around asking other managers if they received proposals from United.  They engaged United last year and paid $8000 and the lifeguards didn’t show up.  United is off the list.  Vassir quoted $26,000 (Seaview uses them).  Sparkling Pools quoted $24,000.  We had problems with Sparkling last year.  George would like to try Vassir.  Authorized George to hire Vassir.

·         Owner’s Tax Appeal – Steve approached Barry Ludwig of Condo Insights.  This company would get owners together to appeal taxes.  It should be the whole building participating.  If 60% of owners were successful, other owners could also appeal.   Bruce called them – they didn’t get back to him.  Issue tabled for now.

·         Lobby - A discussion was held regarding making some cosmetic improvements to lobby.  Vinnie will get pricing for area carpets in the lobby.

·         Floor in George’s Office – Vinnie and George met with people and looked at samples:

 32 oz. carpet tiles $4,300

 24 oz. carpet tiles $3,800

A product called Cortek from Pro Source would cost $4,200.  George and Vinnie both loved it.  It’s laminated vinyl that looks like wood.  It doesn’t warp or buckle and is scratch proof. Jack Schachtman’s opinion is that type of flooring would be slippery, colder in winter and is acoustically louder.  George’s preference is carpet tile.  The Board has no objection to using the 24 oz. carpet tiles and we will go ahead with that.

Deferred Business:

·         Landscape Lighting – George asked Jamie Lloyd for a proposal. Nothing has been received.

Manager’s Report – George Foster:

·         Unit 708 sold for $295,000

·         Unit 719 pending sale for $750,000

·         Fiscal Year Budget – There is no report yet.  The numbers need to be carefully reviewed.  There will be no increase in common expenses for next year.

·         There are currently 12 units listed for sale.  Unit 304 has been taken off the market.  The Green’s will rent it.

Legal:

Fees:

·         719 – Scheinholtz – 2 small claims cases.  He didn’t show up.  We billed him.  We sent certification to Title Company.

·         301 – Caplan – Unit currently not listed for sale.  We need to speak to Zlotnick regarding why Caplan’s son can’t be brought into this action since he is one of the owners.  We will stay the course for now.

·         221 – Siegel – Pipes burst in 5 areas.  Water went down to first floor and burned out the fire panel and smoke detectors.  Both were replaced. We sent damages claim to Siegel’s insurance company in the amount of $7,500.  We are waiting to hear back.

Next meeting will be Saturday, May 26, 2018.  To be held at Borough Hall.

Meeting adjourned 10:46 AM.