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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