Minutes of Board of Directors Meeting
March 11, 2024
Oakbrook Townhouses, Inc.
c/o Willow Properties
9527 Bridgeport Way SW
Lakewood, WA 96499
The regular meeting of the Board of Directors of Oakbrook Townhouses (OT) was held March 11, 2024 at 7427 Zircon Drive SW, Lakewood, WA 98498.
Glamba requested approval of the DRAFT Board meeting minutes of February 12, 2024. Allsopp moved and Martin seconded approval of the DRAFT Board meeting minutes of February 12, 2024. The motion passed.
Approval of Draft Annual Meeting Minutes for Submission to General Membership
Glamba requested approval of the Board for submission of the draft minutes of the January 16, 2024 Annual Membership meeting. Karch moved and Allsopp seconded to approve the DRAFT Annual Meeting minutes of January 16, 2024 for submission to the membership for approval. The motion passed.
Treasurer’s Report
Treasurer Karch presented financial and budget information, including that of January 31, 2024 and Fewbruary 29, 2024.
January 31, 2024 February 29, 2024
Operating
Account $ 7,320.88 $ 22,368.31
Reserve
Account $ 202,554.53 $ 204,556.24
Insurance
Deductible Account $
5,042.32 $
5,042.32
Capital
Improvement Account $ 17,729.19 $ 19,728.33
Insurance
Holding $ 36,000.00 $ 32,000.00
Karch explained additional information presented, including Accounts Receivable, Prepaid Dues; Monthly Disbursements, and Dues Delinquencies.
Martin moved and Karch seconded to approve the Treasurer’s Report subject to clarification of questions raised. The motion passed, with Allsopp abstaining.
Heritage Restoration Lawsuit
Glamba stated this topic would be deferred to later in the agenda.
Update on 2021 Audit Report
Karch reported that he had submitted material to Willow Properties on February 16 to meet the request of the auditor, but it apparently was not sufficient, as the auditor is demanding the original statement from KeyBank.
Update on Gutter Overflow at 7419 Zircon
Karch reported that work on the rain gutter at 7419 has been completed, and appears to have been successful in resolving the gutter overflow issue, although a heavy rain has not yet occurred.
Garage Roof Leak at 7703 Zircon
Glamba reported the contractor is trying to schedule the work directly with the unit owner.
Roof Leak at 7511 Zircon
Roof leak repairs have been completed, but additional work is necessary for internal damage. Following discussion, Martin moved and Allsopp seconded approval of additional repair work provided it is covered by warranty in the amount of $3,800.00, plus tax, by Frank & Sons d/b/a Construction Services. The motion passed.
Clogged Drain Line at 7511 Zircon
Glamba reported additional work needs to be done to unclog the drain line to the back at 7511. Previous work had unclogged a catch basin but not the rear drain line. We have one bid but need two more, but that each contractor requires their own scoping work, raising the cost for their bids.
Roof Leak at 7511 Zircon
Glamba requested ratification of his prior authorization to repair the roof leak at 7511 Zircon Drive SW in the amount of $4,802.25. So, with the prior Board approval of the change order on January 16, 2024, the amount of $7,977.57 may be paid to Frank & Sons d/b/a Construction Services for repairs resulting from the roof leak at 7511 Zircon Drive SW. Karch made the motion and Allsopp seconded, and the motion passed.
Clogged Drain Line at 7525 Zircon
Glamba reported clearing of the clogged drain line at 7525 Zircon has been completed.
Ponding Water on Garage Roof at 7803 Zircon
Glamba reported this work has been completed.
Garage Roof Leak at 7805 Zircon
Glamba reported the owner has been informed (s)he must remove items from the garage roof prior to assessment of the issue.
Status of Rear Deck Study by PDQ
Glamba reported no report has yet been received. He stated he will ask Willow Properties to inquire as to the delay in receiving the written report promised by PDQ by December 1, 2023.
Modification of Rwquest to Install Bronze Exterior Windows at 7505 Zircon.
Glamba reported the owner has submitted information modifying his/her request to install exterior windows at 7505 Zircon. Following discussion, Allsopp moved and Martin seconded to request a plan for installation and brochure. The motion passed.
Request to Cut Out Section of Exterior Wall to Install Air Conditioner at 7619
Zircon
Glamba reported no further word has been received on this request, which was not approved at the previous Board meeting.
COMCAST Basic Cable Agreement
Karch reported he had received the most recent contract from COMCAST, dated in 2007, for basic cable service, signed by then-President Bill Brown. Glamba said it did not appear to have a termination provision. There was discussion about whether a temporary rate reduction had been negotiated in the near past. Karch agreed to research the issue and report back.
Garage Roof Leak at 7433 Zircon
Glamba reported the garage roof at 7433 Zircon apparently has Trex decking, which has to be removed to determine the condition of the torchdown membrane before determining the source of leakage, and that this needs to await a break in the weather. The Board had a lengthy discussion about owner responsibility for garage deck leaks when (s)he has installed decking on top of the torchdown membrane.
Trimming of Foliage Next to Buildings
Glamba reported that contractor Green Effects will be trimming back foliage next to the buildings in the next few weeks.
Approval to Pay PDQ Invoice
Glamba requested Board approval to pay PDQ’s latest invoice #50324-2 in the amount of $747.45 for a variety of work at multiple locations. Following discussion, Karch moved and Martin seconded to approve paying the PDQ invoice. The motion passed.
Wrought Iron Door Installation Request at 7513 Zircon
Glamba reported on a request to install a wrought iron door at 7513 Zircon. Following discussion, Martin moved and Allsopp seconded to approve the request to install a wrought iron front door at 7513 Zircon, subject to securing a licensed, bonded, and insured contractor and all necessary permits. 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 February 25, 2024 in the amount of $789.25. Following discussion, Martin moved and Karch seconded to approve payment of the invoice. The motion passed.
Consideration of Investmant of Funds in CDs
Glamba reported on his research of possible investments in a CD to secure modest amounts of interest for funds in our reserve accounts. Following extensive discussion, including concern about possible penalties for early withdrawal, the Board agreed further research is needed.
Next Board Meeting
Glamba announced the next Board meeting will be held on April 8, 2024 at a time and location to be determined.
Adjournment
It was moved and seconded to adjourn the meeting. The motion passed. The meeting was adjourned at 7:18 PM.
Respectfully submitted,
Al Glamba, President
No comments:
Post a Comment