River Ridge Condo Association

2016 Annual Meeting

2016 ANNUAL MEETING

RIVER RIDGE CONDOMINIUM ASSOCIATION

OCTOBER 18, 2016


CALL TO ORDER:  Margaret Crowley, President

Establishment of quorum and acceptance of 4 proxies.  30 Owners present. The quorum was met.


BOARD MEMBERS PRESENT:  Margaret Crowley, Sam Galzerano, Richard Barrett, Joan Flewelling, Katherine Boucher, Elizabeth Werth, and Cynthia Townes

Also Steve Miller, Property Manager


The reading of the 2015 Minutes was waived


President’s Report:  See Attached


Treasurer’s Report:  Joan Flewelling, Treasurer and Steve Miller Property Manager reviewed the current and past year River Ridge expense and income report.  Steve Miller discussed part of the new NH Condominium Act that if 2/3 of the Association does not want to increase the condo fees the association has to go back to the previous year fees.  Steve discussed that the projected projects are 29 roofs to be replaced, roadways and walkways need to be repaved, installation of gutter on roofs that do not have any ($10,000 to $15,000 estimate for gutters).  Some of the projects are long term.  The budget for 2016-17 includes painting front doors, power washing and staining back decks, repair of front decks, annual dryer vent cleaning and chimney inspection.  The monthly condo fee will remain at $275 per month and the special assessment is $225 per month.  The siding project total project cost was $900,052.15.  The payoff of the loan was presented to the owners to be paid off in 8 or 10 years.  A vote was taken and it was unanimous to pay off the loan in 10 years.  


Old Business:  None


New Business:  


The issue of gutters was discussed for the buildings without them and that the association was obtaining three bids with estimates being between $10,000 and $15,000.  The association will take responsibility of care and cleaning of the gutters.  Dennis B. made a motion to take a vote to install gutters.  There were 26 owners in favor of getting gutters and 4 opposed.  Motion carries to install gutters on all the buildings.  

NH Condo Act as of August 1 2016 new rules include:  The yearly budget needs 2/3 approval of the association to increase condo fees otherwise the fees stay the same as the previous year, do not need a quorum to make a decision, the meetings are open at any time and an owner can show up and listen to the meeting but cannot speak unless they have requested and are on the agenda, the board can only make decisions during a planned meeting in order to have transparency.  These new rules will need to be adopted into the bylaws.  

Assessing remaining roof replacements will be done every spring.  29 roofs remain to be redone.  

Jane owner in 3J presented ballots to all unit owners re: changing the color of the front door.  Jane got 24 ballots back 16 ballots voted for crabapple wine and 10 for green.  The front doors will be painted by the Condo Association in the spring the color of crabapple wine.  Discussion was held re: what type of door should be used if the front door needs to be replaced.  It is the owner’s responsibility to bring a new door request with picture of the door to the board for approval.

The back of units should be neat and clean.  Wood piles need to be away from the buildings.  Boats need to be marked with the owners Unit number and letter.

Richard Barrett presented having a dog run behind the dumpsters where the dog area currently is for $2900.  This would include installing a chain link fences.  There was much discussion about how the area would look.  This was not approved at this time.  



Election of Board members:  


Margaret Crowley resigned with a 2 year remaining term.  The Board Members, Management Company and Unit owners thanked Margaret for her years of service.  Sam Galzerano, Kathy Boucher, and Joan Flewelling’s term are up.  They have all agreed to continue in office for another 3 years and all were unanimously reelected.  Alysha Gonsalves Unit owner 4J ran for Margaret’s 2 year term and was also unanimously elected.  



RIVER RIDGE MONTHLY CONDO BOARD MEETINGS ARE HELD THE 3RD MONDAY OF THE MONTH AT THE NEWMARKET LIBRARY 6 TO 7:45 PM.  PLEASE CONTACT THE BOARD IF YOU WOULD LIKE TO ATTEND


Additional Discussion:  Motion to Adjourn and accepted at 8:55pm


Respectively Submitted,

Cynthia Townes, Secretary


www.riverridgecondoassociation.com

Website Builder