River Ridge Condo Association

October 2017

RIVER RIDGE CONDO ASSOCIATION

www.riverridgecondoassociation.com

October, 16, 2017

Board Members Present: Liz Werth, Joan Flewelling, Katherine Boucher, Sam Galzerano, Alysha Gonsalves.

Absent: Cynthia Townes, Richard Barrett

Also: Steven Miller, Property Manager

Secretary’s Report: Minutes for September 18, 2017 were reviewed, Motion to accept made by Sam Galzerano, seconded by Joan Flewelling with unanimous approval of the Board.

Treasurer’s Report: Steve Miller reviewed the monthly financial report: Income through September, 2017 is $24,665.00- Budgeted YTD is $25,950.00. Over Budget is - $1,285.00. Expenses through September, 2017 are $22,307.23- Budgeted YTD is $27,238.00. Over Budget is - $4,930.77.

Transferred amount into the Capital Reserve Account is $1,734.56.

One Condo owner remains in arrears for assessment and condo fees and a lien has been placed.

-Old Business:

- Steve reports that EZ Dock Solutions will be removing the docks but no date given as yet.

-Touch up for the doors on 4 F and 4 G have been done and the spots are gone.

Liz reports that chunks of paint have come off. This will be checked.

- Building 5 decks are done. Joan reports that they look beautiful. She also reports that the contractor worked

well and they are pleased.

-Building 5 attic concerns regarding soffits were checked and the circulation is fine in their attics.

- An exterminator was contracted because of wasps coming into 4 E and the problem is resolved. There is also

a report of wasps nesting behind the siding at the edge of the bay window at 3 I and these were also treated.

- Report was given to Steve regarding the concerns that Lobdell Landscaping was cutting the lawn too short,

not leaving the clippings to mulch and also destroying grass patches by driving the mowers too fast when

turning causing them to tilt.

New Business:

Fire Report:

  • Physical damage done to 5 condos- 2 E, F, G, H and part of I. These will be gutted by Reliable Restoration +Recovery.

  • CSNH is a sister company of R, R + R and will be under consideration to reconstruct units after the clean out once the claim is settled with the master insured.

  • Dube Construction will be subcontracted to replace the damaged siding.

  • 2 A, B, C, D, J, K and L are habitable but most have smoke odor. Plan will be to have owners return when clearance comes- the electricians were in today, tomorrow the power company will be working with the electricians. Then the Town Inspector will evaluate and give a Certificate of Occupancy and people can return to these 7 condos.

  • One owner, 2 J, did go to a hotel as reported in the newspapers.

  • Steve reports that the fire to all units will be considered as 1 claim of $5,000.00 against our Master Policy so, the 5 owners will be responsible for their proportionate share of that deductible which would be $1,000.00/unit.

  • Many areas of the units will need to be cleaned out down to the studs.

  • Homeowners Insurance will be covering personal contents, clothes, furniture, food and temporary housing and move out and move in of items. The Master Policy does not cover these items.

  • The Master Policy is responsible for replacing roofs, structure, walls, and anything affixed to the unit back to its original arrangement before the fire.

  • Wade Anderson is the Insurance Adjustor from our Master Policy. We are awaiting the report from the Fire Dept.

  • Steve questions how these evaluations and decisions will affect how we rebuild related to code or if we will be grandfathered in and will be further discussed with the master carrier and requirements from the town.

Steve reports managing communications with insurance companies, town and fire officials, utility companies, owners, restoration companies, etc. Steve is requesting supervisory compensation as per our contract either hourly or a percentage of capital expense. There is a question if this will fall under our Master Policy.

(-Liz reports she contacted Megan Angelov at HUB International insurance on 10/19/17 who reported that payment to the condo manager is not covered under our Master Policy for supervisory fee but often a percentage fee is what is normally covering the cost of the management’s time to manage the project which ranges between 5-6% of the claim).

Manager’s Report:

-Steve reports that he received a call from Merrie Chimney Sweeps the Monday after the fire stating that they now would like to camera down the flue, instead of inspecting with a flashlight as they have done for years, to better assess build up of creosote. The plan is for them to be at River Ridge tomorrow, 10/17/17, to clean 1 D, 3 J, 3 L, and 4 C from the inside bottom up. Management will be seeking another chimney cleaning company for next year.

- Dryer vent cleaning is scheduled for 10/31/17. They will clean from the outside unless residents have contacted Tri-State Vent Cleaning to do additional cleaning from inside their unit from the dryer out. Management will be identifying where the location of the vents are for future knowledge and will report to the Board.

Annual Meeting- 10/19/17 at Newmarket High School cafeteria, 7PM

-Accept the (NH) Condo Act.

-Approve the Insurance section that clarifies the Master Deductible.

-Steve reports that no one has applied for the open position.

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

Board Meeting for November is on Monday, November 20, 2017 at 6PM.

Respectfully Submitted,

Katherine Boucher, Secretary

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