Oakbrook
Townhouses, Inc.
c/o Willow Properties 253
581-5199
9527 Bridgeport Way SW chris@willowproperties.com
Lakewood, WA 98499-2801
DRAFT
Minutes of
Board of Directors Meeting
November 11, 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 November 11, 2024 at 7409 Zircon Drive SW, Lakewood,
WA 98498.
Glamba described the electrical panel inspection process currently scheduled for November 13, 2024.
Approval of Minutes of October 14, 2024
Glamba requested approval of the DRAFT Board meeting minutes of October 14, 2024. Following discussion, Allsopp moved and Welsh seconded approval of DRAFT 3 of the October 14, 2024 Board minutes. The motion passed.
Treasurer’s Report
Treasurer Karch described minor changes in the October 14 Treasurer’s report Following discussion, it was moved, seconded, and approved to accept the changes to the October 14, 2024 Treasurer’s Report. Karch then described minor changes made to the November Treasurer’s Report to accommodate changes in the October 14, 2024 Treasurer’s Report.
Karch presented monthly financial and budget information, including that concluding on September 30 and October 31, 2024.
September 30, 2024 October 31, 2024
Operating Account $ 36,732,16 $ 15,594.63
Reserve Account $ 218,568.49 $220,570.28
Insurance Deductible Account $ 5,042.32 $ 5,042.32
Capital Improvement Account $ 33,730.79 $ 35,731.06
Insurance Holding $ 20,000.00 $ 0.00
Glamba read the figures above into the record. Following discussion, Allsopp moved and Mildon seconded to approved the Treasurer’s report for November 11, 2024. The motion passed.
2025 Budget – Second Reading
Karch passed out copies of the most recent suggested budget for 2025, as updated for data received from Willow Properties for the month of October and described its features.
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 (October 31, 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 second reading.
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 contacted the owner of Newman CPA (Jeremy Newman) and requested information on the expected delivery date of the completed 2021 Audit Report, but was informed that additional information was required and had not been received.
Status of Rear Deck Repair at 7617 Zircon by PDQ
Glamba reported the work had been completed and an invoice received on the remainder of the work needed for replacement of the rear deck at 7617 Zircon by PDQ. Following discussion, Karch moved and Welsh seconded approval of payment to PDQ Construction of the remaining work, including replacement of rotted siding, in the amount of $6,728.88. The motion passed.
Board discussed the need to have an inspection process in place of work completed. Board members expressed dissatisfaction with securing copies of the 2024 Deck Repair report. The Board also discussed again the need to have a back-up contractor for PDQ Construction. Allsopp offered, and the Board authorized, himself to meet with Willow Properties and/or Edwin Wittstruck to discuss these issues. The Board also expressed dissatisfaction with the 2021 Audit process.
Status of Clogged Drain at 7511 Zircon
Mildon reported this work has not been done.
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.
Consideration of Investment 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.
Clogged Pipe at 7533 Zircon
No information on this issue.
Approval to Remove Dead Cedar Tree at 7523 Zircon
The Board reviewed this issue and found that it had been completed and paid for.
The Board discussed the need to have a process in place that ensures that work being billed has actually been completed. Karch reported that many years ago he had asked that no invoices be presented to the Board for payment unless there is a clear statement on the invoice that the work being billing had been completed in accordance with the work requested or proposed, but that this had never been done.
Glamba reported on his so-far unsuccessful efforts to secure workmanship warranty provisions from Roof Doctor.
Corporarate Transparency Act Reporting
Glamba reported on the Corporate Transparency Act Reporting requirements, a Federal Act aiming at controlling money laundering, terrorist financing, corruption, and tax fraud. There is no exemption for HOAs, although there is a lawsuit to exempt HOAs pending. The effective date for filing information is January 1, 2025. Those who have to file, subject to steep penalties, are all HOA Board members. The Board had lengthy discussions about the matter and will organize a plan to ensure compliance. Information needed is 1) the legal name of the association, 2) the street address of the Association’s principal place of business, 3) the jurisdiction of the formation of the Association (WA State), 4) the Association’s EIN, and 5) for each Board member: a) full legal name, b) date of birth, 3) current residence address, and 4) driver’s license or passport number and an image of the license or passport. Following discussion, Welsh moved and Mildon seconded to submit the final documentation as a Board, rather than have an agent submit it. The motion passed.
Repair of Garage Roof at 7409 Zircon
Glamba reported that PDQ Construction patched the roof at 7409 Zircon. An invoice will be coming.
Comcast Rates for 2025
Glamba reported a notice has been received from COMCAST for landlord basic cable, effectively raising the rate from $27.56 to $29.21 per month per unit.
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 Miller Nash LLP
Glamba requested Board approval for the invoice from Miller Nash LLP for legal services thru September 30, 2024 in the amount of $812.00. Allsopp moved and Karch seconded approval to pay the invoice from Miller Nash LLP for legal services thru September 30, 2024 in the amount of $812.00. The motion passed.
Invoice from McFerran Law
Glamba requested Board approval for the invoice from McFerran Law for legal services thru October 25, 2024 in the amount of $319.75. Allsopp moved and Welsh seconded approval for the invoice from McFerran Law for legal services thru October 25, 2024 in the amount of $319.75. The motion passed.
Miscellaneous Items
The Board began budget discussions but took no action.
Next Board Meeting
Glamba announced the next Board meeting will be held on December 9, 2024 at 5:00 PM at 7425 Zircon.
Adjournment
It was moved and seconded to adjourn the meeting. The motion passed. The meeting was adjourned at 7:12 PM.
Respectfully submitted,
Al
Glamba, President
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