River Ridge Condo Association

September 2016

RIVER RIDGE CONDO ASSOCIATION

www.riverridgecondoassociation.com

BOARD MINUTES

September 19, 2016


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

Also:  Steven Miller, Property Manager


Topic:  Review of Minutes

Discussion:  The minutes from August 15, 2016 were reviewed and approved by the board.


Topic:  Treasurers Report

Discussion: Steve Miller reviewed the monthly financial report.  He reported that it was $29,751.12 short due to lack of condo fees and assessments on two properties.  There are two condos in arrears due to foreclosures and a third property which is behind and will have a lien placed.   Expenses for the past month were $7,774.00 and budget $10,019 to leave a positive of $2,244.  The Savings Reserve Account at AVIDA Bank is $62,309 and the People United is $100,508 Special Reserve.  The reserve is getting larger as this includes money to be paid back for the loan which was taken out for the siding project.  A COPY OF THE TREASURERS REPORT CAN BE OBTAINED FROM STEVE MILLER, PROPERTY MANAGER UPON REQUEST.  


Topic:  Vinyl Siding Project Update

Discussion:  The siding project has been completed and the final total spent for the project which included some roof replacements was $918,000.  The payoff of the loan based on $225 per month will be 8 years.  The assessment started as of January 1, 2016 and the principal pay down will begin on January 1, 2017.  The loan will be paid in full January 1, 2025.    Residents may elect to pay down their share faster and apply it towards the principle.  This will be discussed at the annual meeting. 


Topic:  Condo Doors

Discussion:  Jane McCullough (Unit #J) attended the meeting to present color choices for the doors and request that there be a choice of three colors for the unit owners to be able to choose.  There was a proposal made to have one color choice instead of three.  The board took a vote and five members were for one color and two were opposed.  There will be one color choice.  Jane will make up ballots for each unit owner with their top color choice and present that at the annual meeting.





Topic:  Gutter Proposal

Discussion:  Steve Miller reported that All American Seamless gutters gave an estimate on adding gutters to the front and back of the units at $10,946.  Steve will obtain more information as some of the existing gutters were replaced.


INFORMATIONAL:

The board members approved a change of dates for removal of air conditioning units to taking them out by November 1 each year and putting them in as early as April 1, 2016.  If anyone has a medical condition that requires an air conditioner to be all year please submit a request to Steve Miller, Property Manager.  

Exterior Chimney Cleaning will take place on October 18, 2016.

Winter Pruning Proposal was presented to the board and members did a walk around prior to the meeting to review the areas to be pruned.  The total cost was $4,400 and a vote was taken.  Six members were for the pruning proposal and one opposed.  Steve Miller will arrange to have Urban Tree Service complete the project.

It was suggested to have a map of all of the dryer vent outlets on the property.  This will be brought up at the annual meeting.

Unit 4C has requested to have her water spigot looked at since the vinyl siding project took place.  Steve Miller will follow up on her request.  

There was a request to dispose of the broken picnic table and chair on the main community deck and the remaining picnic table stored with the owner. 

The docks will be removed after Columbus Day weekend.

Volunteers have been testing out different colors of stain to determine the final stain color for the decks.  This will be a spring project.  


ANNUAL MEETING:  The Annual Condo Owner’s Board Meeting will be held at the Newmarket HS on Tuesday, October 18, 2016 at 7 PM in the cafeteria. 


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

PLEASE DRIVE SLOWLY WHEN DRIVING WITHIN THE PROPERTY

 Respectfully Submitted,

Cynthia Townes, Secretary

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