Board Meeting Minutes June 4, 2019

​River Place South Housing Corporation (RPSHC)
FINAL Minutes From the Board of Directors Meeting
Tuesday, June 4, 2019
 
In Attendance – Board of Directors

• Janice Mays, President
• Waqas Ali, Vice President (via video conference)
• Sara Shahade, Secretary
• Jim McInerney, Treasurer
• Lauren Hall, Director
• Vikram Reddy, Director
• Richard Villegas, Director

 
In Attendance – Property Management

• Joette Waters, General Manager
• Bryan Hernandez, Assistant General Manager

 
In Attendance – Shareholders

• Bonnie Kline, Unit 926

 
 

1. Call to Order

The Board of Directors of the River Place South Housing Corporation held a meeting on Tuesday, June 4, 2019.  Board President Janice Mays called the meeting to order at 5:57 p.m.  Introductions ensued of management and members of the Board of Directors.
 
 

1. Resident Participation

Bonnie Kline of Unit 926 reported she was not aware that a Board meeting would be held on Tuesday, June 4th.  Ms. Mays explained that the management office computer system was erased, and is in the process of being restored.  In the future, residents may call the management office to confirm the date of upcoming Board meetings.  For the June 2019 meeting, a notice was posted between the elevators.  (2) Ms. Kline suggested that resident participation should be held at the end of each Board meeting to allow residents the opportunity to ask questions about topics discussed during the meeting.  (3) Ms. Kline inquired whether all of the cooperative’s investments are FDIC insured.  Ms. Mays explained the cooperative’s funds are spread among several financial institutions to ensure they do not exceed FDIC limitations.  (4) Ms. Kline reported she has noticed errors in the reports provided by the Goldklang Group CPAs, P.C.  Ms. Mays encouraged residents to report such errors to the Board as soon as they are noticed.
 
 

1. Approval of Agenda

Dr. Reddy moved to approve the June 4, 2019 Board Meeting agenda as presented.  Ms. Shahade seconded,  and the motion carried unanimously (6-0-0).
 
(Mr. McInerney arrived at this juncture at 6:00 p.m.)
 
 

1. Approval of Meeting Minutes (April 30, 2019)

Dr. Reddy moved to approve the April 30, 2019 Board of Directors Meeting minutes as amended. Ms. Shahade seconded, and the motion carried by a vote of four in favor, zero opposed and three abstained (Ms. Hall, Dr. Reddy and Mr. Villegas) (4-0-3).
 
 

1. Reports
2. President’s Report: A President’s Report was not presented.

 

1. Treasurer’s Report: Mr. McInerney reported the cooperative is in great financial shape year-to-date.  The financial advisors for River Place South are working to secure Certificates of Deposit with higher interest rates.

 

1. Owners Association (OA) Report:

1. Vehicles have been moved for the second phase of the MP Garage project.
2. The painters used an old map and missed 12 parking spaces.  Those spaces have since been repainted.
3. The new pool deck is complete, and the pool is now open for the season.
4. The HVAC project is ongoing, and the gatehouse project is nearly complete.

 
 
  VI.Management Report
A.     Balcony Work: Balcony work has been completed in the first two tiers, and work is underway in the next set of tiers.  The expense to remove surfaces on the balcony floors will be higher than anticipated, as there are more balconies with surface coverings than expected.
 
B.     Façade Engineering Study: The project will cost approximately $500,000 in total.  However, the final number cannot be determined until the design specifications have been completed.  The project will also address the commercial area which is rented by the OA.  During the next OA Board meeting, representatives from the South Building will explain why the South Building must fully fund the work for the OA’s commercial area.
 
C.     Boilers: The boilers have been shut down for the season, and water is being heated by the RBIs (domestic hot water heaters).  The cooling system was activated on Tuesday, May 7, 2019.
 
D.    Cell Towers: Management will schedule a meeting with the Board of Directors and representatives from T-Mobile to discuss what upgrades will be done to the cell towers and relay other information.  Due to damages done to the building’s roof by T-Mobile during prior upgrades and the extended length of time before compensation was received, workers sent by T-Mobile can no longer access the roof without an escort unless rubber mats are used to protect the new roof.
 
E.     Potential Non-Smoking Designation: Management received 35 responses (approximately 14% of owners) to the survey circulated on the possible conversion of River Place South into a smoke-free building.  Of the 35 respondents, 91.43% were in favor of River Place South becoming a non-smoking building – an action that would require a bylaws amendment.  The amendment would include language requiring landlords to add a non-smoking clause to their lease documents as well as provide a non-smoking agreement that all residents must sign when moving into the building; and would also include a one-year transition period.  Management and the cooperative’s legal counsel will draft an amendment, and information regarding the proposed change will be included in the notice for the next Board of Directors meeting.  Legal counsel will be consulted regarding grandfathering for current shareholders.
 
F.      Skigen Settlement: Skigen currently owes $12,283 to be paid at the settlement scheduled for early June 2019.
 
G.    Rental Occupancy: As of Friday, May 31, 2019, there were six vacant rental units – four of which have since been rented.
 
H.    Parking: Seventy-two percent (72%) of the parking lot is currently occupied.  Nine spaces cannot be used due to balcony work, and several other spaces are unrentable because they are too small to fit a car.  Management will speak with the OA regarding the spaces that cannot be used.
 
 

1. Resale Notifications

No resale notifications were presented.
 
 

1. New Business
2. Façade Project: Please see Section VI.B of these minutes.

 
 

1. Old/Unfinished Business
2. Balcony Rehab: Please see Section VI.A of these minutes.

 

1. T-Mobile: Please see Section VI.D of these minutes.

 
 

1. Temporary Adjournment to Executive Session

The Board of Directors temporarily adjourned the Open Session at 6:42 p.m. to hold an Executive Session to discuss personnel matters.
 
 

1. Adjournment

Following the conclusion of the Executive Session, the June 4, 2019 Board of Directors meeting was adjourned at ____ p.m.
 
 
These minutes were respectfully drafted and submitted by: