Minutes of
Board of Directors Meeting
October 14, 2024
Oakbrook Townhouses,
Inc.
c/o Willow Properties
9535 Bridgeport Way
SW
Lakewood, WA 96499
The regular meeting of the Board of Directors of Oakbrook Townhouses (OT) was held October 14, 2024 at 7535 Zircon Drive SW, Lakewood, WA 98498.
A quorum being present Board President Al Glamba called the meeting to order at 5:02 PM.
Board members present were Jim Allsopp, Al Glamba, Ken Karch, Lew Mildon, and Jonathon Welsh.
Urgent Insurance Matter
Glamba briefed the Board on the insurance matters described in the previous minutes. Our current fire and general liability insurance provider, Liberty Mutual, has offered a 60-day extension to our current policy (until October 22, 2024) at a cost of $6,870.00 with a $75,000 deductible, to give us time to find an alternative provider. Our alternative provider, which we expected to engage, has withdrawn its offer, requiring that all Federal Pacific panels be removed by October 22 and that the association provide certification by a licensed electrician by November 22 that no units have the Federal Pacific panels. In other words, it has not accepted our self-certification, thereby requiring us to find another insurer, at a cost increase of as much as $54,000. The Board discussed the remaining known units with Federal Pacific panels (7417, 7423, and 7431 Zircon) which have all communicated that their Federal Pacific panels will be replaced by mid-November, and an enforcement letter has been sent to the unit owner at 7711 Zircon who has not responded to the self-certification requirement..
Approval of Minutes of September 9, 2024
Glamba requested approval of the DRAFT Board meeting minutes of August 12, 2024. Following discussion, Allsopp moved and Mildon seconded approval of the September 9, 2024 Board minutes. The motion passed.
Treasurer’s Report
Treasurer Karch presented monthly financial and budget information, including that concluding on August 31, 2024 and September 30, 2024.
August 31, 2024 September 30, 2024
Operating Account $ 37,333.91 $ 36,732.16
Reserve Account $ 216,566.65 $218,568.49
Insurance Deductible Account $ 5,042.32 $ 5,042.32
Capital Improvement Account $ 31,730.53 $ 33,730.79
Insurance Holding $ 20,000.00 $ 20,000.00
Glamba read the figures above into the record.
Following discussion Mildon moved and Allsopp seconded approval of the Treasurer’s Report ending September 30, 2024. The motion passed.
2025 Budget – First Reading
Karch distributed the first reading of a proposed 2025 budget and described its provisions.
The document is in spreadsheet format; incorporates for the first time the line items used by Willow Properties in its monthly reports to the Board; shows the 2024 annual budget adopted by the Board and ratified by the membership; actual data to date (September 30, 2024); projected full year data thru December 31, 2024; a proposed budget for 2025 and an estimated budget for 2026; differences compared to 2024; and estimated dues for 2025 and 2026; and is color coded to reflect large, uncertain, or unknown; moderate amounts, and items without change from 2024. Categories which are added or moved are identified. Adjustments are made to reflect the change from a cash accounting to an accrual accounting system.
Large (over $10,000), or uncertain amounts in the first reading are the management fee, reserve contribution levels, legal services, property insurances, earthquake insurance, water provision, cable TV provision, the landscaping contract, general maintenance, rear deck maintenance and/or repair, garage roof maintenance/repair, and driveway replacement.
Karch requested Board members provide questions or comments. No action was needed or requested at the first reading.
The Board discussed the possibility of providing copies of the minutes via email rather than hard copy.
Heritage Restoration Lawsuit
Glamba stated this topic will be deferred to the Executive Session later in the meeting.
Update on 2021 Audit Report
Glamba reported that the 2021 Audit report has not been received despite assurances from Willow Properties that it was expected by August 19. Glamba has requested directly from the Newman company information on expected receipt and has been informed that additional information was needed, which despite assurances by Willow Properties to the contrary, had not been received. The Board discussed at length communication problems between the Board and Willow Properties, but took no action.
Status of Rear Deck Repair by PDQ
Glamba reported that work on the rear deck at 7429 Zircon by PDQ has been completed, but we have not yet received an invoice.
Glamba requested approval of an additional replacement of the rear deck at 7617 Zircon by PDQ in the amount of $10,500 plus tax, with a 50% deposit for materials. Following discussion, Karch moved and Welsh seconded approval of replacement of the rear deck at 7617 Zircon by PDQ in the amount of $10,500 plus tax, with a 50% deposit for materials.
Status of Clogged Drain at 7511 Zircon
Glamba reported we had received a bid from the Plumbing and Drain Company in the amount of $1398.27, including tax, to scour the clogged drain at 7511 Zircon. Following discussion, Welsh moved and Allsopp seconded to approve the bid from the Plumbing and Drain Company in the amount of $1398.27 including tax, to scour the clogged drain at 7511 Zircon. The motion passed, with Mildon abstaining.
Status of Garage Roof Leak at 7433 Zircon
Glamba reported that Willow Properties had reported that work on the garage roof leak at 7433 Zircon had been completed by Roof Doctor and we are awaiting an invoice and the warranty provisions.
Consideration of Investmant of Reserve Funds in CDs
Glamba recommended deferring this issue to the next meeting. Welsh inquired about switching funds to an interest bearing account. Following discussion Welsh indicated he will research the issue.
Water Damage to Interior of Garage at 7703 Zircon
Glamba reported that Willow Properties had reported that PDQ had scheduled this work with the owner and that PDQ indicated work had been completed.
Broken Sprinkler Heads
Glamba reported that that the sprinkler system had been turned off for the winter, and that Willow Properties had reported that the broken sprinkler heads addressed in past meetings had been corrected by Green Effects.
Clogged Pipe at 7533 Zircon
Glamba reported that Willow Properties had received a bid from the Plumbing and Drain Company and had asked them when it could be scheduled.
Status of Garage Roof Leak at 7515 Zircon
Glamba reported that Willow Properties had reported that the project had been completed by Roof Doctor who had to reattach the piping for the unit’s furnace, along with the vent that they had covered.
Approval to Remove Dead Cedar Tree at 7525 Zircon
Glamba reported he examined a dead cedar tree at 7523 Zircon and concluded it needed to be removed. He requested a motion to approve removal of the dead cedar tree by I’m In! Tree Service in the amount of $2,202 including tax. Following discussion, Mildon moved and Allsopp seconded to approve the proposal to remove the dead cedar tree by I’m In! Tree Service in the amount of $2,202 including tax. The motion passed.
Executive Session on Heritage Restoration Litigation
It was moved, seconded, and approved to adjourn to Executive Session on the Heritage Restoration litigation. Following Board discussion, during which no Board actions were taken, it was moved, seconded, and approved to return to general session.
Invoice from McFerran Law
Glamba requested Board approval for the invoice from McFerran Law for legal services thru September 25, 2024 in the amount of $656.25. Welsh moved and Allsopp seconded approval for the invoice from McFerran Law for legal services thru September 25, 2024 in the amount of $656.25. The motion passed.
Invoice from Miller Nash LLP
Glamba requested Board approval for the invoice #2242757 from Miller Nash LLP for legal services thru August 31, 2024 in the amount of $91.00. Welsh moved and Allsopp seconded approval to pay the invoice from Miller Nash LLP for legal services thru August 31, 2024 in the amount of $91.00. The motion passed.
Miscellaneous Items
· The Board had a short discussion about what could be done to improve communication with Willow Properties.
·
Allsopp asked that his email be
changed.
Next Board Meeting
Glamba announced the next Board meeting will be held on November 11, 2024 at 5:00 PM at a location to be determined.
Adjournment
It was moved and seconded to adjourn the meeting. The motion passed. The meeting was adjourned at 7:06 PM.
Respectfully submitted,
Al
Glamba, President
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