River Place South Housing Corporation (RPSHC)
final Minutes From the Board of Directors Meeting Tuesday, June 19, 2018 – 6:00 p.m. In Attendance – All Board of Directors
Ms. Shahade seconded, and the motion carried by a vote of five in favor, zero opposed and two abstained (Mr. Ali and Mr. Villegas) (5-0-2).
RIVER PLACE SOUTH HOUSING CORPORATION BOARD OF DIRECTORS MEETING April 26, 2018 CALL TO ORDER: Ms. Mays called the meeting to order at 6:06 p.m. Board Members Present: Janice Mays President Waqas Ali Vice President [by phone] Jim McInerney Treasurer [by phone] Sara Shahade Secretary David Williams Director Vic Reddy Director Board Members Absent: Richard Villegas Director Others Present: Joette Waters Building Manager Brian Hernandez Assistant Manager Barbara Seaman Recording Secretary Residents: Lauren Hall #1029 & 1034; Bonnie Kline #928l; Jim Wolf; Lorenzo Ricks. RESIDENT PARTICIPATION:
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RIVER PLACE SOUTH HOUSING CORPORATION BOARD OF DIRECTORS MEETING February 27, 2018 CALL TO ORDER: An Executive Session was held from 5:47 to 6:00 p.m. The meeting was then called to order by Ms. Mays at 6:00 p.m. Board Members Present: Janice Mays President Waqas Ali Vice President [arrived at 6:11] Jim McInerney Treasurer [by phone] Sara Shahade Secretary David Williams Director Board Members Absent: Richard Villegas, Director & Vic Reddy, Director. Others Present: Joette Waters Building Manager Barbara Seaman Recording Secretary Residents: Nancy Greenberg #542; Lauren Hall #1029 & 1034; Bonnie Kline #928. APPROVAL OF AGENDA: MOTION: Ms. Shahade moved, Mr. McInerney seconded, to approve the agenda as amended. The motion passed unanimously (4-0-0). APPROVAL OF MINUTES: MOTION: Mr. McInerney moved, Ms. Shahade seconded, to approve the Minutes of January 30, 2018 as amended. The motion passed unanimously (4-0-0). REPORTS: President: Ms. Mays said she was enjoying the refurbishments to the building. Treasurer: Mr. McInerney said he had no report but will contact Eagle Bank to set up an appointment. OA Report: Ms. Shahade said that in terms of the obstructed view at Unit 518, Mr. Smith will bring in an arborist to make suggestions. She also said that a new treadmill and bike and other equipment improvements. She added that the Board was looking into locations for a bike rack. Mr. McInerney said that the Board also decided to use ground cover in the median area. Mr. Williams then suggested looking into fines for shareholders engaged in AirBnB rentals that violate the bylaws and Arlington County rules. MANAGER’S REPORT: Boiler: The condensate tank and pump were replaced and parts are on order. Loading Dock, Recycle and Trash Room Doors: The loading dock door and the recycle room door have been installed, Bids are coming in for a roll-up door for the trash/compactor room. Trash/Recycle System: Bids are being solicited for trash can replacements. Eleventh Floor Windows: The estimate from Advance Windows is $173,700 which does not include curtain windows in #1103 and 1104. Windows at #1110 are cracked and replacement will be revisited by Advance Windows. Window Film for 11th Floor: An appointment will be made with Signals Defense to measure #1102. Roof and Roof Shielding: Repairs to damages caused by roof project will be made when roof work is finished. Upgrades by AT&T and T-Mobile are expected to be completed at the same time as the roof project in mid-March. Barking Dog: The owner of the emotional support dog who has created a disturbance to their neighbors is expected to be gone by the end of May with no renewal of the lease. OLD BUSINESS: Skigen T-4 Sale: A wall will be installed to prevent entry between that space and the loading dock. NEW BUSINESS: Annual Meeting: The Annual Meeting will be held on March 27, 2018. Three positions are open and 3 candidates are seeking nominations. RESIDENT PARTICIPATION:
RIVER PLACE SOUTH HOUSING CORPORATION
BOARD OF DIRECTORS MEETING January 30, 2018 CALL TO ORDER The meeting was called to order by Ms. Mays at 5:41 p.m. Board Members Present: Janice Mays President Waqas Ali Vice President [arrived 5:53] Jim McInerney Treasurer [by phone] Sara Shahade Secretary Vic Reddy Director Richard Villegas Director David Williams Director Board Members Absent: None. Others Present: Joette Waters Building Manager Don Perper Zalco Bob Porco Zalco Kevin Kernan Whiteford, Taylor, Preston Barbara Seaman Recording Secretary Residents: Nancy Greenberg #542; Lauren Hall #1029 & 1034; Linda Mejia, Remax Allegiance #518; Naomi Pena #721. ZALCO REPORT: Mr. Porco said that the financials as of December 31, 2017 showed a strong cash position on both the co-op and the rental side. He said that the rental side had about $369,000 but that bills would be coming in at the beginning of next month. He also suggested moving money in both the co-op side and rental side as a buffer. He said that the co-op side has an operating surplus of $100,000 and operating expenses were $84,000 under budget. He added that capital expenses were $565,000 mainly for the roof. In response to Mr. Reddy’s question about the remainder of the loan, Mr. McInerney suggested that he and Ms. Waters and Mr. Reddy hold a conference call with Eagle Bank. Mr. Villegas also recommended that they ask the bank about prepayment penalties and refinancing with another bank. Over all, Mr. Porco said that the corporation’s cash position was strong and that the rentals are generating enough money to cover expenses. In addition, there was about $1 million in reserves even after capital expenses. [Mr. Perper and Mr. Porco left the meeting at 5:54 p.m.] The Board then held an Executive Session after which the open session was reconvened. RESIDENT PARTICIPATION:
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RIVER PLACE SOUTH HOUSING CORPORATION BOARD OF DIRECTORS MEETING November 28, 2017 CALL TO ORDER The meeting was called to order by Ms. Mays at 5:55 p.m. Board Members Present: Janice Mays President Waqas Ali Vice President [arrived 5:56] Jim McInerney Treasurer Sara Shahade Secretary Vic Reddy Director Richard Villegas Director David Williams Director Board Members Absent: None. Others Present: Joette Waters Building Manager Brian Hernandez Assistant Manager Barbara Seaman Recording Secretary Residents: Nancy Greenberg #542; Lauren Hall #1029 & 1034; Howard Wilkes #707. APPROVAL OF AGENDA: MOTION: Ms. Shahade moved, Mr. Williams seconded, to approve the agenda as amended. The motion passed unanimously (7-0-0). MANAGER’S REPORT: Landscaping: Campbell & Ferrara gave a presentation and suggested planting azaleas at the loading dock to make it more presentable. It was also suggested that the OA take on a cohesive landscaping plan for the property. The RPS building manager made a request to include landscaping at the bare strip of grass at the loading dock. RESIDENT PARTICIPATION: The residents present wanted to observe the meeting. REPORTS: Treasurer: Mr. McInerney said that reserves were at about $762,000. He also said that income exceeds expenses by $75,000 and that the corporation was under budget by 5%. Rentals, Ms. Waters said, were at 98%. She added that about 15 parking spaces were moved for contractors and were now rentable but 2 spaces assigned by the OA were to be used by employees. Mr. McInerney then said that operating cash was $280,000 and that $47,000 was being contributed to reserves each month. Mr. Villegas added that National Bank of Washington, DC was a new mortgage broker and that he was contacting Arlington Credit Union. MANAGER’S REPORT-continued: Loading Dock, Recycle, and Trash Room Doors: All doors need to be replaced. Estimates for a roll-up trash room door are coming in. Gas Detection System: The system can be tied into a monitor that can detect leaks, shut off boilers, and send an alarm. Installation is being scheduled. HVAC: Replacement of #1110 heat pump is complete. However, the owner is enlisting Comfort Air to install a quieter model and will pay the difference in price. Window Film for 11th Floor: The Signal Defense SD500 product will cost about $14,000 and is scheduled for installation on December 11. Cell Phone Towers: T-Mobile is revising its plan since it included a 3rd sled which was not in the contract. If necessary, legal counsel will be contacted. AT & T Upgrade: Awaiting payment for damages made to the roof during upgrade. AHU Engineering Services: Tate Engineering will submit a quote to rebuild. More field work and outside contractors are required. New Employee: Nathalie Benitah was hired for concierge and office support. Shareholder/Resident Issues: Two windows were ordered at a cost of $2900 to replace storefront windows that broke during a storm Air BnB: Letters were sent to those who violated rules on renting for fewer than 3 months. The County also requires a permit and that the unit must be the primary residence for 160 days. Offenders will be fined as stated in the Resolution. NEW BUSINESS: Endorsement Signatures for Board Membership: Mr. Williams said that a candidate for the Board must get signatures from 10 owners. He added that it was hard to get the signatures in time for the Annual Meeting and that the candidate must come to the office to get the shareholders’ list. He moved to waive the requirement but, after the Board agreed that the signatures just affirmed the candidates’ qualifications to run, he withdrew his motion. OLD BUSINESS: Skigen Enterprises: T-4 Sale: No new information. Reserve Study: Five Board members worked with Doug Greene to create a draft report. It was recommended that $571,000 go into reserves next year and that the contributions increase each year. This translates to about a 2% coop increase annually. Modifications to the schedule of reserve items can be made each year and Mr. Greene can revise the study. Ms. Waters can look into creating a summary for shareholders. Next Meeting: The next meeting will be held on January 23. EXECUTIVE SESSION: MOTION: There being no further business for the open session, the meeting was adjourned to Executive Session at 7:04 p.m. There were no objections. here to edit. River Place South Board Minutes September 12, 2017 & October 17, 2017 (partial-unable to transcribe)3/1/2018
RIVER PLACE SOUTH HOUSING CORPORATION BOARD OF DIRECTORS MEETING October 17, 2017 CALL TO ORDER The meeting was called to order by Ms. Mays Board Members Present: Janice Mays President Waqas Ali Vice President Jim McInerney Treasurer Sara Shahade Secretary Vic Reddy Director Richard Villegas Director David Williams Director Board Members Absent: None Others Present: Joette Waters Building Manager Brian Hernandez Assistant Manager Bob Porco Zalco FINANCIAL REPORT: Mr. Porco reported that the audit has been completed and there were no issues. Turning to the financial statements through August, he said that the corporation had $324,000 in the operating account and $1,267,000 in reserves. He also said that River Place South contributes $47,000/month to reserves. He added that the corporation spent $147,000 in the first 4 months and had a low delinquency rate for both rentals and co-op. Operating expenses, he said, were 11% under budget most of which were due to utilities but they can fluctuate and will be monitored. He concluded by saying that there was a surplus of $74,000 for the first 4 months. EXECUTIVE SESSION: The Board then went into Executive Session. FINAL
RIVER PLACE SOUTH HOUSING CORPORATION BOARD OF DIRECTORS MEETING September 12, 2017 CALL TO ORDER The meeting was called to order by M. Ali at 6:00 p.m. Board Members Present: Waqas Ali Vice President Jim McInerney Treasurer (by phone) Sara Shahade Secretary Vic Reddy `Director Richard Villegas Director David Williams Director Board Members Absent: Janice Mays President Others Present: Joette Waters Building Manager Brian Hernandez Assistant Manager Barbara Seaman Recording Secretary Residents: Nancy Greenberg #542; Lauren Hall #1029 & 1034; Jim Wolfe #547; Wanda & Joe Martin #1105; Howard Wilkes #707. APPROVAL OF AGENDA: MOTION: Mr. Williams moved, Ms. Shahade seconded, to approve the agenda as amended. The motion passed unanimously (6-0-0). APPROVAL OF MINUTES: MOTION: Mr. Williams moved, Ms. Shahade seconded, to approve the Minutes of August 8, 2017 as written. The motion passed (6-0-0). RESIDENT PARTICIPATION:
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RIVER PLACE SOUTH HOUSING CORPORATION BOARD OF DIRECTORS MEETING August 8, 2017 CALL TO ORDER The meeting was called to order by Ms. Mays at 5:34 p.m. and convened an Executive Session until 6:06 p.m. Board Members Present: Janice Mays President Waqas Ali Vice President Jim McInerney Treasurer (by phone) Sara Shahade Secretary Vic Reddy Director Richard Villegas Director David Williams Director Board Members Absent: None. Others Present: Joette Waters Building Manager Brian Hernandez Asst. Manager Kevin Kernan Whiteford, Taylor, Preston Barbara Seaman Recording Secretary Residents: Nancy Greenberg #542; Lauren Hall #1029 & 1034; Bill Little #919; Jim Wolfe #547; Wanda & Joe Martin #1105; Sam Metters #1107. RESIDENT PARTICIPATION:
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RIVER PLACE SOUTH HOUSING CORPORATION BOARD OF DIRECTORS MEETING June 27, 2017 CALL TO ORDER The meeting was called to order by Ms. Mays at 6:05 p.m. Board Members Present: Janice Mays President Waqas Ali Vice President Jim McInerney Treasurer Sara Shahade Secretary Vic Reddy Director Richard Villegas Director David Williams Director Board Members Absent: None. Others Present: Joette Waters Building Manager Brian Hernandez Office Staff Bob Porco Zalco Don Perper Zalco Jerry Audi AT & T Barbara Seaman Recording Secretary Residents: Nancy Greenberg #542; William Lawn #1115; Howard Wilkes #707; Bonnie Kline #926; Lauren Hall #1029 & 1034. RESIDENT PARTICIPATION: Ms. Greenberg #542 said that the PIYO class in the Entertainment Center was very good. Mr. Lawn #1115 was observing. Mr. Wilkes #707 said he wanted to learn about Board operations. APPROVAL OF AGENDA: MOTION: Mr. Williams moved, Ms. Shahade seconded, to approve the agenda as written. The motion passed unanimously (7-0-0). FINANCIAL REPORT: Mr. Porco reported that the co-op’s fiscal year ended on April 30 and that RPS was in good shape. He also said that the Goldklang audit should be finished soon. The reserve balance, he said, was $1,281,000 and that the cash generated by the rentals was $370,000 net. Operating expenses were 5% under budget and delinquencies were less than 1%. He added that there were no problem areas and that the contingency line items cover unexpected occurrences. RESIDENT PARTICIPATION-continued:
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RIVER PLACE SOUTH HOUSING CORPORATION BOARD OF DIRECTORS MEETING May 23, 2017 CALL TO ORDER The meeting was called to order by Ms. Mays at 6:00 p.m. Board Members Present: Janice Mays President Jim McInerney Treasurer Sara Shahade Secretary Vic Reddy Director Board Members Absent: Waqas Ali Vice President Richard Villegas Director David Williams Director Others Present: Joette Waters Building Manager Brian Hernandez Office Staff Barbara Seaman Recording Secretary Residents: Nancy Greenberg #542; William Lawn #1115; Howard Wilkes #707; Eris Lekuch #210; Bonnie Kline #926; Lauren Hall #1029. APPROVAL OF AGENDA: MOTION: Ms. Shahade moved, Mr. McInerney seconded, to approve the agenda as written. The motion passed unanimously (4-0-0). APPROVAL OF MINUTES: MOTION: Ms. Shahade moved, Mr. Reddy seconded, to approve the Minutes of April 26, 2017 as amended. The motion passed unanimously (4-0-0). REPORTS: President: Ms. Mays said that the items she wanted to discuss are on the agenda. Treasurer: Mr. McInerney reported that the corporation was in excellent financial condition. He said that the balance in the operating account for the co-op was $362,060 and $142,420 for rentals. He also said that a committee to find more lenders has been set up. OA: Mr. Reddy said that estimates for the MP garage were coming in. He also said that the redevelopment of the property will be getting active again. He also said that nothing major was going on at the OA. Ms. Mays added that RPS was trying to renegotiate their financial agreement with the OA on the Entertainment Center. Lobby/Building Design: Ms. Mays said that the lobby was looking good even though some of the work had been slower than expected. MANAGER’S REPORT: HVAC Systems: Ms. Waters said that the HVACs were being replaced on an age basis and that she had 3 estimates. She recommended hiring LPR. MOTION: Mr. McInerney moved, Ms. Shahade seconded, to approve the contract with LPR with the stipulation that they provide a better price. The motion passed unanimously (4-0-0). Replacement of 11th Floor Windows: The estimate from Advance Windows is $173,700 and does not include the curtain windows in #1103 and #1104. Convector Cleaning: The work is complete. WiFi: Slabe has completed installation and the WiFi was turned over on May 1. Riser Replacements: The replacement of risers in tiers 17 and 18 is complete. Tiers 21 and 22 will be done in the fall. Reserve Study: Zalco recommended DMA to do a reserve study update. MOTION: Ms. Mays moved, Mr. McInerney seconded, to approve the proposal from DMA for $4950 to do an update to the reserve study. The motion passed unanimously (4-0-0). Second Floor Drop Ceiling: Work is complete and 11th floor ceiling work will start in June. Roof and Shielding Estimates: Zalco has recommended hiring Northern Virginia Roofing at a cost of $375,785 which includes a $20,000 credit. Installing the shielding will cost about $45,000 additionally. Cell Phone Towers: T-Mobile has sent a letter saying that they will be moving forward “in the coming months.” AT&T will be testing on the 11th floor units (1110,1114, 1102, and 1107) on June 5. Rentals: There are no vacancies. NEW BUSINESS: None. RESIDENT PARTICIPATION:
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