Board Minutes June 27, 2017

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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:
 

• Ms. Kline #928 asked what she missed and Mr. Porco reiterated his financial report and said that income from the rentals was part of the budget and that the $370,000 they generate goes into reserves.Mr. Perper then added that it was not in the best interests of RPS to compare to other buildings because of the many variables. In reply to Ms. Kline’s question, Mr. Porco said that RPS was not putting more money in reserves than recommended and deposited $600,000 this year. Ms. Mays said that Ms. Kline’s questions can be answered at the appointment that has been scheduled.
   
  APPROVAL OF MINUTES:
   
   
  MOTION:  Ms. Shahade moved, Mr. Reddy seconded, to approve the Minutes of May 27, 2017 as amended.  The motion passed (5-0-2) with Mr. Ali and Mr. Villegas abstaining.
   
  REPORTS:
   
  President: Ms. Mays said that the redecoration was going well and the front entrance is finished. She also said that the 11th floor is about to be painted. She added that Mr. Reddy will renegotiate the rental agreement for the Entertainment Center.
  Treasurer: Mr. McInerney had no report.
  OA: Mr. Reddy said the OA was working on a redevelopment plan for River Place. He also said that the renovation of the Monroe parking garage was uncovering problems and was under discussion. To clarify representation to the OA, Ms. Mays said Ms. Shahade represented the South building while Mr. Williams, Mr. Villegas, and Ms. Mays were the other representatives.
   
  Lobby/Building Design: Ms. Mays referred to her earlier comments.
   
  MANAGER’S REPORT:
   
  Redecoration/Design Services: Work is complete except for the punchlist and some furnishings.
  Riv-Star-Delays with receipt of documents continue. Seth Stark will be invited to the next meeting while other companies are explored.
  Graffiti Incidents: The walls have been painted over and a message will be sent out to building residents that hate crimes will be reported to police and leases can be revoked.
  Plumbing Issue in #809: A faucet ruptured and flooded the unit. The resident was reimbursed for 1 night in a hotel.
  Architectural Modification to #1103: The owner wants to modify the unit to accommodate a wheelchair. The VA needs Board approval to subsidize the work.
   
  MOTION:            Ms. Mays moved, Mr. McInerney seconded, to approve the modification to Unit 1103, The motion passed unanimously (7-0-0).
   
  PRESENTATION BY A T & T: Jerry Audi recapped the questions of the Board about an antenna upgrade and the findings of the building biologist. He said that some conclusions were biased against AT & T and refuted the findings in his Executive Summary including the Site Safe report on measurements. Ms. Mays asked that the photos of units taken by Safe Site be removed. Mr. Audi went on to say that the readings were within FCC limits. Ms. Mays said the Board’s goal was to keep the contract but to move the antennas out of the line of sight. Mr. Audi said he will do his best to get the antennas moved. Mr. McInerney said it was a legally binding contract and that the Board has no choice but to approve the upgrade. Ms. Mays said she will sign the consent if Mr. Audi gives his best effort.
   
  NEW BUSINESS: None.
   
  RESIDENT PARTICIPATION-continued:
   
• Ms. Kline said she wanted a better understanding of finances especially the 2011 reserve study that was not followed. Ms. Waters said the Board was catching up with the recommendations and that they were working from an approved budget and addressing things that were needed. Ms. Mays said she will join the scheduled meeting with Ms. Kline to go over financially related information.
   
  EXECUTIVE SESSION:
   
  MOTION:  Mr. Ali moved, Ms. Mays seconded, to adjourn to Executive Session at 8:27 p.m. The motion passed unanimously (7-0-0).
   
   
   
  

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