MINUTES


LONGPORT OCEAN PLAZA CONDOMINIUM ASSOCIATION

BOARD OF TRUSTEES MEETING

JULY 8, 2017

Amended August 24, 2017

 

Board Members in Attendance:  

                 Steve Frankel

               Caren Fires 

               Vinnie Marino

               Dennis Wasserman

               Peter Wood 

               Phyllis Dorn 

Management     

                  George Foster, Manager

Owners in Attendance:  

             Sylvan Gross

            Jack & Carol Schachtman

            Nancy Wood

            Jonathan Wheeler

            Larry& Linda Yerkes

            Carl Poplar

            Mark & Gina Lario

            Bob English

Owner Participation:

 Is Lasher union or non-union? They are non-union.  The entity coming on is non-union.

 Introduced Joe Marcasiano, our construction supervisor.  Has been union and non-union.  Sometimes you need union – they have pool of workers in different trades who have benefits, pension, etc.  Non-union doesn’t have permanent employees.

 Discussion about Guzzo, the contractor coming in to resume project. He is a non-union contractor.  Third generation.  He did the church in Longport.

 Nick Cinelli aforensic engineer has been retained to evaluate the work completed thus far.

 It was asked where we are with the project.  The contractor is gone, this is on the agenda and will be discussed further then.

 One of the elevators had been off at night.  It is back on now.

 Minutes from last meeting are not here.

FINANCIAL REPORT – Peter Wood 

·         High negative net worth -$2.5 million. 

·         Still awaiting numbers to finish project.

·         $740,000 in loan escrow account.

·         Can cover current liabilities

·         Working on issues with the bank

 Borrowed $3.5 million.  Making payments.  Still have $740,000 in account that has not been tapped.  Easement sale will bring in about $570,000.

 We need $1 - $1.5 million to finish project.  We fund the reserve account $250,000/year.  We will have to pay taxes next year.  

Exterior Façade Project – Dennis Wasserman

Joe Marcasianosaid Lasher’s quote was off the wall.  Arkk was fired.  Lasher was the sub-contractor on the job.  We kept him on while waiting for his numbers.  The bank is not comfortable with him.  His numbers were too high by $500,000.  We tried to get Lasher to modify his prices.  He would only adjust prices by changing the work.  Lasher is out. Guzzo was never on the project.  He’s out of Vineland.  He has inspected the building.  He knows the job and is a stucco specialist, knows the coatings.

It was asked if we would need Lasher for future litigation.  The answer is no, we have a forensic engineer.

A question was raised about union and non-union workers and what happens in Longport.  If the union is busy they don’t bother you.  Longport is non-union.

Guzzo’s numbers should be in next week.  Fox Rothschild is involved with the contract.  What supplies will be leaving?  The motors will leave.  The swings will stay.

The balconies will be wrapped for the rest of the summer.

A question was raised as to why we are using the same law firm as they charge high fees.  We used them to get rid of Arkk.  The legal committee will form to pick new firm for the next step and recommend a firm to the board.   Fox Rothschild was used for the elevator contract.  They turned it around quickly.

Completion of the project with clean-up should be done by end of winter.

Status of Litigation – Arkk is going into mediation with us.  It will be up to the legalcommittee to decide what’s next with litigation.

Roof Easement Agreement – Steve Frankel

Phyllis made a Motion for the Board to approve proceeding with Landmark in the Easement Agreement, Dennis seconded the Motion. By unanimous vote, the Board approved. 

Election

Forms are available for anyone wanting to run.  Candidate list will go out after 7/20/17. The annual meeting is 7/30/17.  Nominees should provide a brief bio.

Legal

Fox Rothschild will do the contract for Guzzo unless the legal committee wants another firm.Is Jon Rosenkrantzoff the job?  The answer is no, staying for full liability on the job – as needed.  They were getting $11,000 per week.

The Legal Committee is made up of Paul Fires, Henry Pass, Jonathan Wheeler, Carl Poplar and Marc Lario.

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Unit 219 sold - $480,000.  There are 17 units on the market.

Next Board meeting scheduled for August 5, 2017.

CAREN FIRES,

Secretary

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LONGPORT OCEAN PLAZA CONDOMINIUM ASSOCIATION

BOARD OF TRUSTEES MEETING

August 5, 2017


Board Members in Attendance:

            Steve Frankel
            Caren Fires
            Dennis Wasserman
            Vinnie Marino
            Phyllis Dorn
            Bruce Goldberg
            Jonathan Wheeler (Absent)

 Management:

            George Foster

 Owners in Attendance:

            Janet & Myron Waxman
            Nancy Wood
            Gene Sohn
            Sylvan Gross
            Barbara Nochumson
            Phil Siegel
            Steve Lichtenstein
            Marc Lario

 Owner Participation

Nancy Wood asked why the benches are not in front of the mirrors?  It was decided after they came in.  The committee prefers color on both sides of the elevator lobby’s.

Minutes of previous meeting held 7/8/17 were accepted.

Financials – Same as last week’s meeting – no change.

Construction – Dennis Wasserman – First Trust holding loan.  We hired Weir to review loan.  The bank is holding the money.

Fox Rothschild (FR) is handling lawsuit with ARKK and dealing with new contract with Guzzo.  We are terminating J. E. Rosenkrantz.  FR is handling the case.  The interim contractor Lasher is out.  FR is handling that as well.  FR is hiring new engineer to figure out what needs to be done to get the project finished.  They will try to put a penalty clause in the new contract.  We are hopeful the work will get done by Thanksgiving.

  New Business -           New Board of Trustees:

                                    Steve Frankel, President
                                    Caren Fires, Secretary
                                    Dennis Wasserman, Treasurer
                                    Vinnie Marino, Trustee
                                    Phyllis Dorn, Trustee
                                    Bruce Goldberg, Trustee
                                    Jonathan Wheeler, Trustee

We were asked would we consider converting the parking space on the 28th street side belonging to unit 620, to an enclosed storage unit.  The decision is tabled for now.

Owner Communications – There are problems with updating owner’s due to the fluidity of the situation.  Things change so fast that it is hard to put out news.  When we get a schedule from the contractor, we will get that information out.

Pool – We will consider getting new pool furniture next spring.  We will extend the pool hours to 7PM from 8/7/17 to 9/4/17. 

We have a new service dog application from the Lieb’s.  Application is complete and approved.  There is no size requirement, must follow rules.

There are 18 units for sale.

The next board meeting will be held 9/30/17.

 

Open Discussion

Can we extend the pool schedule past Labor Day?  We will look into the cost.

Do we still have a project manager?  Yes – Joe Marcasciano

The bank has held us up.  Our Reserve Account has been low.  The bank was slow to respond to our questions.  They finally approved Guzzo.  We hired a law firm to negotiate with the bank, Weir& Partners LLP.

Lasher’s attorney contacted Marc Lario.  Told him the threats of what Lasher will do.  Why aren’t we going with Lasher?  Problems with bank.  Their numbers are too high.  They did sloppy work.

When does Fox Rothschild’s engineer begin?  He will be here Wednesday and do a baseline study.

Do we have a new projected start date?  End of month. 

Weir will negotiate with the bank.  Eventually we will have to assess the owners.  We hope we will prevail with the lawsuits.

Communication Screens – Can we send messages via email, not just on screens?

Why can the bank hold rooftop money?  The bank can control the extra monies because the roof is part of collateral on the loan.

Service Dogs – Do dogs wear vests?  They wear a vest or a badge.

We are a no-smoking building.