Board Minutes April 26, 2017

Click FINAL
 
RIVER PLACE SOUTH HOUSING CORPORATION
BOARD OF DIRECTORS MEETING
April 26, 2017

CALL TO ORDER
The meeting was called to order by Ms. Mays at 5:45 p.m.
Board Members Present:           Janice Mays                  President
Waqas Ali                     Vice President
                                                Jim McInerney             Treasurer
Sara Shahade                Secretary
Richard Villegas           Director
                                                David Williams             Director
                                                Vic Reddy                    Director
 
Board Members Absent:            None.
 
 Others Present:                                    Joette Waters                  Building Manager
                                                Brian Hernandez           Office Staff
                                                Barbara Seaman             Recording Secretary
                                               
Residents: Nancy Greenberg #542; William Lawn #1115; Girija Tickoo #918; Howard Wilkes #707; Jim Wolf #632; John von Pischke #208; Bonnie Kline #926 ; James Mirandy #642.
 
APPROVAL OF AGENDA:
 
MOTION:       Mr. Williams moved, Mr. Ali seconded, to approve the agenda as amended. The motion passed unanimously (7-0-0).
 
APPROVAL OF MINUTES:
 
MOTION:       Mr. Ali moved, Mr. Williams seconded, to approve the Minutes of February 28, 2017 as amended.  The motion passed (3-0-4) with Ms. Mays, Mr. Williams, and Ms. Shahade in favor and Mr. Villegas, Mr. Ali, Mr. McInerney, and Mr. Reddy abstaining.
 
REPORTS:
 
President: Ms. Mays had no report.
 
Treasurer: Mr. McInerney said he will have a report at the next meeting. Ms. Waters then gave a summary of the financial report and said that RPS was under budget by 6%. She also said that she moved $334, 000 into the money for work on the lobby projects, the carpeting balance, the 2nd floor work, replacement of the HVAC units, risers, WiFi, music in the lobby, and new valves for the boiler. She added that the co-op has a balance of $367,000 in operating and the rentals have $100,000.
 
OA: Report will be given in Executive Session.
 
Lobby/Building Design: Ms. Waters gave an update on the carpeting, ceiling, new light fixtures, painting, mailroom, stone on back order, and mill work on the fireplace, adding that all should be complete within a 10-week framework.  
 
MANAGER’S REPORT:
 
Recent Sales: Mr. Villegas reported that recent sales were slow and that he was trying to get more lenders to create more competition. He was also asking the building managers for resale packages and other documents to give potential lenders.
 
RESIDENT PARTICIPATION:
 

• Mr. Wilkes said he was offering his services as a Parliamentarian. Board members thanked him for his offer and for his service.
• Mr. Lawn also said that the OA was looking for more lenders.
   
  NEW BUSINESS:
   
  Deferred Assessment Resolution:  Recommended by the auditors, the Resolution states that the Board elects to apply all or part of the excess income into the following year’s assessments.
  Attracting New Lenders: A committee of Mr. Villegas, Mr. McInerney, and Ms. Waters will look into how to attract new lenders.
   
   RESIDENT PARTICIPATION-continued:
   
• Mr. Wolf asked about the agreement with Mr. Lesnick and said that the Board had the right to terminate it within 3 months. Ms. Mays said it is on the agenda for later in the meeting.
• Mr. von Pischke asked if there were other standing agreements undisclosed to shareholders. Ms. Waters said that in 2007 the Board agreed to allow directors to have storage space at no fee. Mr. von Pischke also asked if unit 931 was rented. Ms.Waters said it was not and that the price was dropped twice. She also said that it had a flood-damaged ceiling and flooring that has since been fixed.She added that Board members don’t get free parking.
• Ms. Kline asked if storage is included in audits or in accounting. Ms. Waters said that it is only tracked internally. She also said that no storage is provided for non-residents.
• Mr. Mirandy said he was concerned about agreements to subsidize rent for units owned that should be reported on a 1099 form. He also said that River Place was coming up on the deadline for the land lease and should prepare to prevent property values from dropping. He added that he would like to have reports on investments.
• Mr. Wolf said that a quarter million dollars was spent on redevelopment efforts but Mr. Lesnick did nothing about it. He also said that shareholders paid for these efforts and results should be reported to the shareholders. Ms. Mays said that the OA paid for the efforts and that they should be discussed. Mr. Wolf said he was interested in continuing efforts to unlock the value of the property. Mr. McInerney said the OA tried to take advantage of the expertise and knowledge of Oskar Brecher who had connections to developers. However, while Mr. Brecher was in discussions with New York developers, he died of a heart attack. Unfortunately, that ended the effort. Mr. Wolf then said that he was on a redevelopment team that met with Time Helmig of Monday Properties who seemed interested in doing business and that hiring outside consultants was unnecessary. He said he will send the minutes of that meeting. Ms. Mays said all had the same goal.
   
  AT & T PRESENTATION: Jerry Audi of Jacobs, Site Acquisition Specialists, and representatives of Site Safe presented a report on proposed modifications for AT & T Mobility Antennas and said nothing has changed since their last proposal. Ms. Mays said that the Board hired a building biologist to measure radiation from the cell towers and will be installing copper roof lining. She said that the balconies on the ends of the building were ignored in the AT & T report and asked if the cell towers could be moved further in. Mr. Audi said that it was unlikely that the antennas could be moved and that it would be very costly. He also said that if they were turned, they would lose coverage. He said that the report can be revised and peak times measured. He then said that AT & T follows FCC standards about human or “public” exposure. Mr. Audi added that there has been no peer review of the building biologist’s readings. He said that AT & T has been here twice to validate results and wants a resolution. Ms. Mays said that the Board is trying to find solutions and that Ms. Waters get the study to give Mr. Audi.
   
  NEW BUSINESS-continued:
   
  Omni/FaxPlus #340 Sale/Rental:  Omni has moved out and Video Files wants to fill the space. Mr. Ingram will be contacted about what can be done to sell or rent the unit.
  Skigen Property T4 Sale/Rental: Skigen wants to rent the space but the matter should be handled by the OA. Ms. Mays will send a note to the OA Board from the RPS Board about the tax issue.
   
  MANAGER’S REPORT-continued:
   
  Window Replacement-11th Floor: The estimate from Advance Window is $173,700excluding curtain windows in #1103 and #1104.
  Convector Cleaning: The project is under way and smoke detector batteries are being provided free of charge.
  WiFi: The Slabe installation is complete and WiFi will be turned over on May 1. Single Digits
  will be terminated at that time.
  Riser Replacements: Densel began the work on April 24 and will take 2-3 weeks.
  HVAC Replacements: Work is under way in 2 units at a cost of $27,372.
  Second Floor Ceiling: The ceiling has been replaced and new lights have been installed.
  Roof and Roof Shielding: The estimate is $520,000 total. Zalco recommends Northern Virginia
  Roofing. Mr. McInerney suggested deferring the decision until the Board gets more information
  on the cell tower modifications and the peer reviews of the building biologist’s work.  
   
  EXECUTIVE SESSION:
   

There being no further business for the open session, the meeting was adjourned to Executive Session at 7:32. p. m.
here to edit.