|
Per best practices, we are moving the posting of monthly meeting minutes over to the For Owners page of the website, under the password protected Operational Documents section. Here's a link: For Owners. Please scroll down until you see "Operational Documents and Meeting Minutes" and click that button.
The prior year's minutes have been moved over and new minutes will be posted there as well. We value transparency at River Place South, but meeting minutes are not meant to be publicly available to non-shareholders. If you are a shareholder, they will always be available to you. Now that our meetings are held over Zoom, they are also far more accessible to all shareholders to join and see the entire discussion first hand. Please hop in and follow along while you make dinner or hang out - you don't have to be on camera. Contributions and discussion are always welcome there, and ultimately, we encourage you to run for a Board seat if you can devote time to the community. Elections are every spring. Thanks, everyone! Hello Shareholders,
The River Place South Board of Directors Annual Meeting will be held on March 30, 2021. Due to Covid-19 in person attendance is not permitted, so the meeting will be held via Zoom Announcement of the meeting will be mailed out along with your ballot in early March. Please make sure we have correct address information. We look forward to your attendance. Thank you, The River Place South Board of Directors River Place South Housing Corporation (RPSHC)
FINAL Minutes From the Board of Directors Meeting Tuesday, July 28, 2020 In Attendance – Board of Directors
Regrets - Board of Directors
In Attendance – Property Management
In Attendance – Shareholders (All Via Zoom)
Eddie Eitches, Unit 638: Mr. Eitches inquired about the current state of the rental and sales markets. Jim Wolf. Unit 547: Mr. Wolf inquired about the timing of re-opening the gym, and updates from the OA. Ms. Mays stated the pool remains closed; work is being done on the ionization system in the gym to prepare for possible re-opening the gym. The OA Board is working toward the approval of three outdoor fitness classes on the property and is working to obtain discounts from Gold’s Gym and Anytime Fitness. Additionally, a plan is being developed to post the OA’s meeting minutes and other documents. Billy Stone, Units 525 and 711: Mr. Stone commended management and the Board of Directors. Lou Ferrera, Unit 431: Mr. Ferrera announced the sale of his unit and commended RPS. Marissa Fond, Unit 639: Ms. Fond asked for an objective regarding the surveying activities associated with the land lease. Mr. Ali explained the Land Lease Committee is comprised of eight members with representatives from each River Place building. They will have a third-party survey performed by an independent research firm. The survey results would be used as a negotiating tool with the landlord. Ms. Hall stated her goal is to have a high response rate to ensure there is sufficient data to guide next steps. Four research firms are presently being considered. Nicole Thomas, Unit 410: Ms. Thomas lauded of General Manager Joette Waters. (2) Ms. Thomas sought clarity concerning the land lease surveying effort, and about the date of the lease’s expiration. Mr. Ali stated the land lease will expire at the end of 2052. He then presented a brief history of discussions held to date. (3) Ms. Thomas inquired whether there are any financial discrepancies in the cooperative’s records, as she received concerns from another shareholder. Ms. Mays stated she was unaware of any discrepancies. Mr. Porco explained FirstService Residential is the financial manager for the cooperative, and they pay all the bills, reconcile the cooperative’s cash, collect the co-op fees, and prepare all of the financial statements. There has been zero evidence of any financial impropriety, and the cooperative has received a clean audit year-after-year for some time. Liza Albright, Unit 116: Ms. Albright received an email from another shareholder that there may be financial discrepancies going on within the cooperative. Ms. Albright asked about the land lease. Richard Hess, Unit 920: (1) Mr. Hess inquired about Paycheck Protection Program (PPP) loans for RPS. The board will take the matter under advisement. (2) Mr. Hess raised opening the gym and pool via a reservation-based system. Rosa Lee, Unit 825: Ms. Lee asked management to send the Board Meeting notice closer to the actual meeting date and encouraged continuing video meetings. Ryan Borck, Unit 1017: Mr. Borck spoke in favor of continuing to offer video Board Meetings and complimented the leadership of RPS management. Bonnie Kline, Unit 928: Ms. Kline expressed her view that River Place South has the highest co-op fee, but the lowest reserve total among all River Place entities. She would like to see the cooperative save more money and would like answers to her financial questions. Ms. Mays asked Ms. Kline to send her email to the Board of Directors so they can prepare a written response to her and the shareholders who received Ms. Kline’s email. Ms. Kline asked whether more than $1 million will be added to the reserves during the current fiscal year. Ms. Mays said the cooperative will follow the long-term plan. Mr. Ali stated itemized financial reports are presented during every Annual Meeting, and the cooperative’s financials are available for review. Xiaoxue Zhang, Unit 819: Ms. Zhang inquired if a waiver can be implemented for people who wish to use the pool and gym that would hold River Place South harmless. Ms. Mays explained legal counsel advised against the use of waivers, as they are not effective; and the cooperative would still have to go through full court proceedings if a lawsuit was filed. Ms. Hall added spending money to defend against a lawsuit would be cost prohibitive. Bill and Toni Little, Unit S919: Mr. Little requested a review of the financial statements to show where the money is going and stated the cooperative’s balance sheet is difficult to read. Ms. Mays said the Board will request a simplified balance sheet for review by shareholders. Bill Miller, Unit 523: Mr. Miller discussed his experience with water damage from another unit months prior.
VI.Management Report Board members reviewed the full July 2020 Management Report. Ms. Waters verbally highlighted the following matters: A. Disinfecting Treatments: Ms. Waters asked if the Board would like to continue the COVID-19 disinfecting treatments in the common spaces. The Board of Directors agreed that the cleaning should continue. B. Capital Reserve Projects: The capital reserve items budgeted for the 2020-2021 fiscal year have been addressed. The Board of Directors awaits instructions from Treasurer James McInerney, III about working with a committee to investigate the façade project. Ms. Mays also will seek feedback from James Marandi concerning next steps. C. Boiler Room Systems Computer: The computer that runs the boiler room systems monitoring has gone down. A suitable replacement laptop has been purchased through Slable for less than $1,000. D. Chiller and Cooling Tower: Repairs will be made to the coil irons on the condensing line; and the cooper line to the condenser water pressure differential switch will be replaced. A major overhaul may be needed in the next year. E. Dryer Vent Cleaning: Ms. Waters recommended establishing a requirement to have the cleaning performed annually as a matter of safety, and the Board of Directors agreed. F. Duct Cleaning: After the recent cleaning of the individual kitchen & bathroom unit vents, it was discovered that the horizontal main vents that carry the air to the roof were very dirty. The horizontal cleaning was therefore performed. G. Spring Convector and Maintenance Inspections: The annual inspections did not commence as usual in mid-March due to COVID-19. The inspections began during the week of July 20th, and are expected to take until early August 2020. H. Rental: As of July 31, 2020, the cooperative had a rental occupancy rate of 88%. Eight units were rented in July 2020. Ten units are currently vacant, and five more are being vacated. I. Delinquencies: The cooperative has seven delinquent accounts.
These minutes were respectfully drafted and submitted by: River Place South Housing Corporation (RPSHC)
FINAL Minutes From the Board of Directors Meeting Tuesday, June 30, 2020 In Attendance – Board of Directors
In Attendance – Property Management
In Attendance – Shareholders
Ellen Schilling, Unit 636: Raised landlease status. Mr. Ali updated attendees/discussed possible survey. Crystal Jobe, Unit 1007: Asked about possible open rental units Dan and Darci Brown, Unit 719: Discussed RPS stock share paperwork backlog. Ms. Waters informed attendees of transition to new transfer agency. David Williams, Unit 126: Encourages self service package pickup Edward Prados, Units 612 and 623: Opposed Policy Resolution No. 14-001. The Board of Directors agreed to seek advice from legal counsel concerning the matter and will provide the lawyer’s response to Mr. Prados. James Morandi, Unit 642: Asked about certified election results. Ms. Mays stated she will have The League of Women Voters provide the election results. Jim Wolfe, Unit 421: (1) Discussed OA issues including gym and pool reopening, minute publication, and other transparency concerns. Marissa Fond, Unit 639: Raised land lease status, improvement from no smoking policy, positive management communication during Covid-19. Sabrina Faber, Unit 623: Asked for re-evaluation of Policy Resolution 14-001 The Board of Directors agreed to follow up on this matter.
Lauren Hall – Vice President (Parcel 5 Representative) Troy Dibley – Treasurer (via telephone) Sara Shahade – Secretary (Director, South) Sabrina Faber - Director (Director, North) Janice Mays – Director (President, South/Parcel 5, Commercial Village Representative) Anthony Priest – Director (Director, East) Richard Villegas – Director (Director, Commercial Village Representative
VII.Management Report A. COVID-19 Response: Ms. Waters reported on COVID-19 precautions in place, disinfecting treatments and increased janitorial work, acrylic concierge desk barriers, extra staff work and specific closures. B. Facade: Ms. Waters provided an update on the future reserve study project repairing. Management awaits instruction from Board Treasurer Jim McInerney, III, who will work with a committee to investigate the façade project. Mr. McInerney will provide a recommendation on how to address the most damaged areas to the Board of Directors. C. Arlington County Fire Department Inspection: Ms. Waters reported on Arlington County Fire Department inspections and completed repairs. D. A/C Split Units: 1. The replacement of two commercial A/C systems was delayed since the spring due to COVID-19 and will be scheduled. 2. Management will schedule the convector cleaning that was postponed in the spring due to COVID-19. 3. Ms. Waters asked shareholders to inform their renters to look out for leaks, and to report any leaks to management. E. Cell Towers: AT&T has been requesting a meeting with the Board of Directors since March 2020. The Board of Directors agreed to have Ms. Waters invite representatives from AT&T to attend Board meeting. F. Chiller and Cooling Tower: Ms. Waters reported on repairs, replacements, and testing. G. Fireplace Inspections: With regard to require 11th floor fireplace inspection. The Board of Directors agreed by unanimous consent to send a letter to those who are not compliant to announce that a fine will be assessed if they do not provide proof of inspection by a specific date. The Board will decide on the amount of the fine. Also, dryer vent cleaning letters will be sent during the week of July 6th. H. No Smoking: Smoking complaints continue despite signage and posted reminders. Management has been unable to address some of the complaints, because of difficulty identifying the source location of the smoke. Additionally, several shareholders have tenants who continue to violate the smoking policy. Therefore, management has begun to fine those shareholders $50 for each violation. Some shareholders are unable to get their tenant out of the unit due to COVID-19 restrictions. I. Package Log: The cooperative is now using Notifii to replace Package Log (which closed operations). J. Trash/Recycling: 1. The cooperative is currently using a rented trash compactor and may need to purchase a new compactor. The price for a new compactor and four cans would be just over $31,000. 2. Trash companies are now fining customers for using plastic bags to dispose of recyclable materials. An email was sent to all residents instructing them concerning use of the recycling containers. K. In-Unit Vent/Duct Cleaning: The individual kitchen and bathroom vents/ducts were cleaned in each unit from March 2, 2020 through March 18, 2020. The contractor entered each unit and used heavy duty vacuums outfitted with filtration systems and rotary brushes to clear each vent. The total cost of the cleaning was $20,592. L. Staff: Ms. Waters summarized the schedule for the staff. M. Transfer Agency: ViBo Transfer Agency has replaced RivStar as the transfer agency for River Place. N. Water Leaks: Over the course of the three months that the COVID-19 stay-at-home order has been in place, there have been at least 10 serious water leaks in the building. O. Rentals: River Place South was previously 100% occupied. However, there are currently some rental vacancies that need to be filled.
Hello Shareholders,
Please be advised that the next Board Meeting of the River Place South Housing Corporation will be held on Tuesday, November 10, 2020, at 6:00pm. The meeting will be held remotely via ZOOM. Due to COVID-19 in person attendance is not permitted. We will email the Zoom instructions the day prior to the meeting. All shareholders are welcome to participate. Sincerely, Joette Waters General Manager River Place South Management Office Hello Shareholders,
Please be advised that the next Board Meeting of the River Place South Housing Corporation will be held on Tuesday, September 29, 2020, at 6:00pm. The meeting will be held remotely via ZOOM. Due to COVID-19 in person attendance is not permitted. We will email the Zoom instructions the day prior to the meeting. All shareholders are welcome to participate. Sincerely, Joette Waters General Manager River Place South Management Office River Place South Housing Corporation (RPSHC)
FINAL Minutes From the Board of Directors Meeting Tuesday, February 18, 2020 In Attendance – Board of Directors
Regrets - Board of Directors
In Attendance – Property Management
In Attendance – Shareholders
As of December 31, 2019, the cooperative had a surplus of approximately $36,000 (5% below budget on operating expenses). A major contributor to the strong cash position is income from the 70 rental units owned by the cooperative, as well as the cooperative’s reserve funds. The audit for fiscal year ending April 30, 2019 was recently completed. The results were a clean audit with no issues. Ms. Mays reported $165,000 in taxes (state and federal combined) were paid for that fiscal year - down from $202,000 in 2018 and $240,000 in 2017. Mr. Porco stated the taxes are paid on a quarterly basis to avoid a large bill at the end of the fiscal year. A shareholder brought up the cooperative loan that will be due for payment in May 2020. The cooperative attempted unsuccessfully to refinance the loan with the existing lender. Therefore, the Board considered several other options, and only one of those options has proven viable. The cooperative will seek to move forward with that option. The interest rate on the current loan is 6.25%, but the new loan will include an interest rate of 5.25%. The original loan had a 25-year amortization. However, the new loan will have a 15-year amortization, which means it will be paid off five years earlier than the previous loan. Ms. Mays explained, because of the total amount of the loan, the cooperative’s bylaws requires approval from two-thirds of all shareholders to approve the loan. Following the financial presentations, Mr. Porco, Mr. Wolfe, and the Board of Directors answered questions posed by shareholders:
Ms. Hall stated she will send formatting preferences to Ms. Waters for implementing into future sets of Board meeting minutes.
VII.Management Report A. Deferred Assessment Resolution: Ms. Mays moved that the cooperative elect to apply all or part of any excess income to the following year’s assessments; and that such final amount shall be at the discretion of the Board of Directors. Ms. Hall seconded, and the motion carried unanimously (6-0-0). B. Exterior Building Facade: The façade of the South Building was evaluated for repair by Facility Engineering Associates, P.C.(FEA) - the same company that completed work for the West Building, and performed roof studies for the North and East Buildings. FEA subsequently prepared and submitted a report of their findings along with recommendations. Board members discussed the information provided by FEA and reviewed photographs, and agreed to pursue the necessary repairs at a reasonable cost while preserving the remaining façade. Shareholder James Marandi agreed to provide useful information to Mr. McInerney concerning façade work. C. Asbestos Removal: In November 2019, asbestos was removed from a closet inside the mechanical room at a cost of $9,800. The next phase will include the removal of asbestos from the boiler room and the re-application of insulation at a cost of $3,800. D. Fire Department Inspection: The Arlington County Fire Department performed an inspection of the building on January 3, 2020 and January 6, 2020. A few violations were noted. The estimated cost of the inspection and the required minor repairs totaled approximately $15,000. All violations have since been addressed with the exception of the gym violations that will be completed prior to the end of February 2020. E. HVAC Split Systems: The recent, semi-annual HVAC inspection of individual split systems revealed a need to replace several split units. Two of those units are in Commercial Suite S300, and will be replaced in spring 2020. F. Camera for Loading Dock: A new camera will be installed at the loading dock by Stanley prior to the end of February 2020. The cost will be $2,000, and the camera will cover a blind spot that overlooks the loading dock. G. Fire System Dialer: The cooperative will receive an upgraded fire system dialer prior to the end of February at a cost of $1,225. H. Chiller and Cooling Tower: Ms. Waters summarized the work needed on the chiller and cooling tower, including repairs to the coil irons at a cost of $2,215; a major overhaul of the systems in 2021 at an approximate cost of $30,000; replacing the water inlet panel at a cost of $8,234; and replacing the backflow valve on the expansion tank of the cooling tower at a cost to be determined. I. Fireplace Inspections: Management sent a letter to the 11th floor shareholders on January 30, 2020 requesting their response by February 29, 2020 to provide proof of having their fireplaces inspected. In March 2020, letters will be sent to those who have dryers asking them to provide proof of cleaning the dryer vents. J. Loading Dock Facelift: The staff power washed and painted the loading dock; installed new bumpers; installed new signage that includes requirements to have a parking pass, a prohibition on parking for no more than 30 minutes, and a prohibition on smoking at the loading dock or anywhere within 25 feet of the building; and installed a new railing in the rear of the building near the boiler room. The staff members are now painting in the trash area and around the trash openings. K. Inspections and Cleanings: The annual convector and maintenance inspections will commence in mid-March. Prior to that, in early March, the five-year vent and duct cleanings will take place in each unit using heavy duty vacuums with filtration systems and rotary brushes. L. Trash and Recycling: 1. The cooperative is being fined $134 to $270 every month for trash and recycling violations. Ms. Waters presented a summary of the letter sent to each unit regarding proper trash and recycling procedures. 2. The trash compactor is presently on lease. Waste Management inherited the lease from CSI, and will not likely renew the lease. The cost to purchase a new trash compactor and bins would be approximately $32,000. M. Annual Meeting: The Association’s 2020 Annual Meeting will take place on Tuesday, March 24th. Shareholders will receive the Annual Meeting notice in early March, and The League of Women Voters is scheduled to supervise the meeting. N. 2019 Audit: The auditor from the Goldklang Group CPAs, P.C. indicated the cooperative’s 2019 audit has been finished, and will get the draft to management as soon as possible. O. Riv-Star Transfer Agency: Ms. Mays summarized the issues experienced with the Riv-Star Transfer Agency with receiving shares during title transfers. Richard Villegas has agreed to assist with resolution of the matter as a temporary agent, and will receive payment for his services. However, Mr. Villegas will recuse himself from any Board decisions that pose a conflict of interest. P. Hand Sanitizer: Five hand sanitizer stations have been placed throughout the building - two in the lobby, one in the management office, and two in other areas. Everyone is strongly encouraged to use the sanitizer and keep their hands washed in light of flu season and concerns about the Coronavirus. Q. Rentals: The cooperative has 100% occupancy for its commercial rentals. Ms. Waters noted that FSR corrected an issue with improperly classifying some of the cooperative’s rent potential as a vacancy.
River Place South Housing Corporation (RPSHC)
FINAL Minutes From the Board of Directors Meeting Tuesday, January 14, 2020 In Attendance – Board of Directors
In Attendance – Property Management
In Attendance – Shareholders
Bonnie Kline, Unit 926: Ms. Kline asked whether the three month minimum concerning unit rentals means an exact minimum of 90 days. Ms. Mays stated the cooperative will not quibble over one or two days. Ms. Waters stated 90 days is the accepted rule of thumb. Ms. Mays explained that the person who signed the lease does not have to physically occupy the unit for three months, but they have the right to occupy the unit as part of the lease. (3) Ms. Jobe asked whether it is permissible for family members or friends to utilize one of her units for a short period of time. Ms. Waters explained Ms. Jobe should provide advanced notice to the management office that guests will be in one of her units. However, if the guests would like to use the pool or gym, the Owners Association must be notified.
VI.Management Report A. A/C Split Units: A recent, semi-annual inspection of the individual A/C splits revealed a need to replace several units. However, a solution was devised to repair many of the units rather than replace them. The exception is two units in commercial space S300 that will be replaced once warmer weather arrives. B. Loading Dock Camera: Stanley will install a new camera at the loading dock to cover an existing blind spot at a cost of $2,000. C. Fire System Dialer Upgrade: VSC will install a new dialer for the fire system at a cost of $1,225. The existing dialer is very old and replacement parts are no longer available. D. Fire Inspection: The building’s fire inspection was performed on Friday, January 3, 2020 and Monday, January 6, 2020. Ms. Waters summarized the minor violations that were noted and will be addressed. (Mr. Ali joined the meeting at this juncture via teleconference at 6:32 p.m.) E. Janitorial Staff: Issues have been occurring with some members of the janitorial staff, and there has been difficulty employing and retaining reliable workers. Two janitors have been replaced during the previous two months. The newest janitor began working on Monday, January 13, 2020. Management is seeking service from an alternative company due to other ongoing issues. F. Railing Replacement: A railing will be replaced at the basement level in the rear of the building near the boiler room. G. Annual Meeting: The Association’s 2020 Annual Meeting will take place on Tuesday, March 24, 2020. Management will send notices to owners during the third week of January. H. Commercial Tax Rate: An appeal involving the cooperative’s commercial tax rate resulted in a reduction of the commercial space value by $1 million, and a refund of $12,030 (including a bit of interest). That money has been deposited against the tax expenses for the 2019 calendar year. I. Reserve Accounts: Management awaits an update concerning the transfer of funds from the existing accounts to the new account with FirstService Residential. J. “No Smoking” Bylaw Change: The bylaws change to prohibit smoking in the building became effective January 1, 2020. Letters were sent to shareholders and renters concerning the matter, and signs have been posted on the property. The cigarette disposal container near the sidewalk leading to the building was removed. The only cigarette disposal container that remains is on the west corner of the front of the building. The Board must still make a decision concerning the penalty that will be imposed for violations of the smoking ban. K. Parking: Ms. Waters asked that the OA consider ways to prevent people from parking along the fire lane across from the gym. Parking violations in that area prevent Cordatis from backing out of their spaces. Ms. Mays indicated she will speak with the OA concerning the matter. L. Rentals: The cooperative has 100% occupancy for its commercial rentals, while parking occupancy is at 82%.
These minutes were respectfully drafted and submitted by: |
