River Ridge Condo Association

February 2017

RIVER RIDGE CONDO ASSOCIATION

www.riverridgecondoassociation.com


BOARD MINUTES

February 22, 2017


Board Members Present: Elizabeth Werth, Joan Flewelling, Cynthia Townes, Katherine Boucher, Sam Galzerano, Richard Barrett


Absent:, Alysha Gonsalves

 

Also: Steven Miller, Property Manager

 

Secretary’s Report: January 23, 2017 Minutes were reviewed. Joan Flewelling made a motion to accept, seconded by Richard Barrett with unanimous approval by the Board.

 

Treasurer’s Report: : Steve Miller reviewed the monthly financial report:

Income through January 31, 2017 is $84,778.72– Budgeted YTD (Year-to-Date) is $74,500.00. Over Budget is $10,278.72. 

Expenses through January 31, 2017 is $70,601.93– Budgeted YTD is $65,464.00. Over Budget is $5,137.93. Motion made to accept by Sam Gazerano, seconded by Liz Werth with unanimous approval by the Board.

 

Contribution monthly to Reserve continues with $1,938.75 this month.

 

Discussion was held regarding the large balance of $32,652.55 in our Checking account. Joan Flewelling made a motion to move $16,000.00 into our Avidia Bank Money Market account, seconded by Richard Barrett with unanimous approval by the Board.

 

We continue to have 3 delinquencies of dues and assessment. 

 

Old Business:

 

February 10, 2017 Public Auction of condo unit 2 C was attended by 3 potential bidders with an opening bid of $113,000.00. Steve Miller and another interested person were also present. Condo will be sold as is. It has been vacant for 4 years. No bids were made. The Bank in ownership of the condo contacted Steve today, they will start making payments of the condo fee and they will be contacting a real estate agent to place it on the market. 

 

Steve reported receiving notice of a leak of a new roof that was done last year on 2 F. Dube Construction, who did the work, was contacted and Chill told Steve that he would fix it. 

 

1 D has a new owner- Geraldine Bresnahan.

 

Bids were reviewed for this year’s Lawn Care and Fertilization Contract and the Board made a unanimous decision to award the Contract to Labadi Lawn Care. They are one of a limited number of companies that are completely organic. 

 

Discussion is continuing regarding the Condo Management Contract proposed by Steve Miller. Liz Werth has additional information after being contacted originally by our prior President, Margaret Crowley. Time constants with the Library’s closing time, necessitates our need to look into this more at the next meeting.

 

New Business:

 

Master Insurance is due for renewal in April. Steve should have more information regarding it next month.

 

Steve is receiving bids for construction of 4 new back decks for Building 5. Addition of railings and steps are now required for safety for 2 of the decks. This construction will be a Capital Expense. 

 

Bids for painting of the doors are also being requested. This will be done as an Operating Expense with $9,000.00 budgeted. 

 

Steve will contact Chill of Dube Construction for examples of door styles for the Board to review and offer 3 styles for owners to choose from for owners that wish to replace their front doors prior to the painting. 

 

Repair of the road drain between Buildings 4 + 5 was reported. The grate is not sound as supporting cement and bricks are loose. 4 plastic caution cones have been placed around the drain. Durrell Paving was contacted by Steve with an estimate of $2,400.00 for repairs. Also discussed was the need to repair the hole that is developing in the pavement as entering cars turn right near the dumpster area. Steve will have Durrell also look at this area.

 

Steve received a call from owners of 3 I just before tonight’s meeting reporting an animal trapped in their chimney. Steve will contact an exterminator in the morning. 

 

 

PLEASE NOTE THE NEW ASSESSMENT STARTED ON JANUARY 1, 2016 - $225 PER MONTH AND CONDO FEE IS $275 PER MONTH.

 

Respectfully Submitted, 

Katherine Boucher, Secretary

 


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