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River Place South Board Meeting Minutes - November 19, 2019

3/19/2020

 
​River Place South Housing Corporation (RPSHC)
DRAFT Minutes From the Board of Directors Meeting
Tuesday, November 19, 2019
 
In Attendance – Board of Directors
  • Janice Mays, President
  • Sara Shahade, Secretary
  • Lauren Hall, Director
  • Vikram Reddy, Director
  • Richard Villegas, Director
  • Jim McInerney III, Treasurer
 
In Attendance – Property Management
  • Joette Waters, General Manager
  • Bryan Hernandez, Assistant General Manager
  • Lisa Waters
 
In Attendance – Shareholders
  • Karen Imler, Unit 1111
  • Oscar Jobe, Unit 1007
  • Crystal Jobe, Unit 1007
  • Bonnie Kline, Unit 928
  • Charlotte Fu, Unit 908
  • Marissa Fond, Unit 639
  • Elin Schilling, Unit 636
  • Bruce Woolman, Unit 636
 
  1. Call to Order
The Board of Directors of the River Place South Housing Corporation held a meeting on Tuesday, November 19, 2019.  Board President Janice Mays called the meeting to order at 6:01 p.m.
 
  1. Approval of Agenda
Mr. Villegas moved to approve the November 19, 2019 Board Meeting agenda. Mr. Reddy seconded, and the motion carried unanimously (6-0-0)
 
  1. Resident Participation
Oscar Jobe of Unit 1007 inquired about the reasoning behind the Owners Association Gym Closure. Ms. Mays explained that necessary ceiling repairs are the reason for the closure.
 
Elin Schilling of Unit 636 requested the use of the multipurpose room in the gym during the repairs so that yoga and martial arts classes can continue during gym repairs. Board of Directors will discuss potential rooms that may be used for these classes.
 
Marissa Fond of Unit 639 requested an update on the land lease. Ms. Mays stated that as of now no decisions have been made but that all things are possible and open.
 
(1) Bonnie Kline of unit 928 requested an update from Board of Directors regarding the tax attorney’s opinion and list of expenses association with turning the rental portfolio over to shareholders. Requested an email be sent prior to Thanksgiving.
 
(2) Bonnie Kline questioned spending limit for cosmetic reasons which she believed to be $40,000.00. Ms. Mays stated this was discussed at a prior meeting and she would email this information to Ms. Kline.
See section 7.9. Additions, alterations or Improvements by Board of Directors for Bylaws.
 
            “Whenever in the judgement of the Board of Directors it is desirable to make additional. Alteration or improvements of the Common Elements costing in the aggregate more than Forty Thousand Dollars ($40,000.00) during any period of twelve consecutive months, the making of such additions, alterations or improvements shall be approved by the Majority Vote at a meeting of the Shareholder. The dollar limitation fixed by this section shall increase annually by the percentage equal to the percentage increase in the annual budget of the Association”
 
Legal Opinion/ Explanation from Kevin A. Kernan, Whiteford Taylor Preston
 
“Article VII, Section 7.9 of the Bylaws states that the Board must obtain membership approval for expenditures in excess of $40,000 in any given year for “alterations, additions, or improvements” to the common elements.  The $40,000 threshold does not apply to expenditures to maintain, repair, or replace the common elements.  Typically, remodeling of a lobby is considered repair and maintenance of the building and does not require a membership vote.  The Association is typically viewed as replacing the lobby furnishings with like for like materials.
 
Expenditures for “alterations, additions or improvements” are those for items that did not previously exist or that alter the dimensions or use of the common elements.  For instance, if the Association added a staircase or a fireplace to the lobby that did not previously exist, then the Board would need approval of the additions if they cost more than $40,000.  Also, if the Board altered the common elements to include a gym or workout facility that exceeded a cost of $40,000, then membership approval would be necessary.”  
 
  1. Approval of Meeting Minutes
    1. September 24, 2019
       Ms. Shahade made a motion to approve the September 24, 2019 Board Meeting minutes as amended. Mr. Reddy seconded, and the motion carried (5-0-1). Ms. Hall abstained.
 
  1.  October 29, 2019
       Mr. Villegas made a motion to approve the October 29, 2019 Board Meeting Minutes as amended. Ms. Shahade seconded, and the motion carried (5-0-1). Ms. Hall abstained.
 
  1. Reports
    1. President’s Report:
       Ms. Mays mentioned the minor fire which occurred on November 7, 2019. She stated that   there will be no meeting in December 2019 and the January 2020 Board of Directors Meeting date is to be determined. Ms. Mays announced that a large loan is coming due in May 2020 and the Board of Directors is in the process of pursuing a couple other options with the hope of having all potential options presented for a decision to be made in January 2020.
 
  1. Treasurer’s Report:
       A Treasurer’s Report was not presented
 
  1. Owners Association (OA) Report:
       Ms. Mays stated that the OA is close to finishing the 1st part of the garage repairs. Some follow up repairs should be expected and those affected will be notified.
 
  1. Management Report
    1. Façade: Mrs. Waters stated that Façade work is on radar for next year. Mr. McInerney will be looking over reserve study to provide additional insight. He asked if anyone in the room had water issues from the exterior of the building. All shareholders present had no issues.
 
  1. A/C Split Units – No Comments
 
  1. Boiler. Heat – No Comments
 
  1. Camera Loading Dock – No Comments
 
  1. Fire systems upgrade – No Comments
 
  1. Trash Chute Fan – No Comments
 
  1. West Wing Roof access exterior door – No Comments
 
  1. Fire – Unit 434 – The board would like management to explore potential fines for tenants without working smoke detectors. Management asked Board of Directors about Live/Natural Cut Christmas Trees. 

River Place South Board Meeting Minutes-October 29, 2019

3/19/2020

 
​River Place South Housing Corporation (RPSHC)
Final Minutes From the Board of Directors Meeting
Tuesday, October 29, 2019
 
In Attendance – Board of Directors
  • Janice Mays, President
  • Waqas Ali, Vice President (via telephone)
  • Sara Shahade, Secretary
  • Lauren Hall, Director
  • Vikram Reddy, Director
  • Richard Villegas, Director
 
In Attendance – Property Management and Guest Presenter
  • Joette Waters, General Manager
  • Bryan Hernandez, Assistant General Manager
  • Raymond Goodrich, Executive Vice President & Chief Lending Officer with the Bank of Charles Town
 
In Attendance – Shareholders
  • Rhonda Harvey, Unit 1106
  • Karen Imler, Unit 1111
  • Oscar Jobe, Unit 1007
  • Bonnie Kline, Unit 926
  • James McInerney, III, Unit 222
  • Lorenzo Ricks, Unit 745
  • Ellen Schilling, Unit 636
  • James Marandi Unit 642
 
 
  1. Call to Order
The Board of Directors of the River Place South Housing Corporation held a meeting on Tuesday, October 29, 2019.  Board President Janice Mays called the meeting to order at 6:00 p.m.  Everyone in attendance observed a moment of silence in honor of Board member Jim McInerney who passed away on Monday, October 14, 2019.  Ms. Mays acknowledged James McInerney, III who participated in the meeting via telephone.
 
 
  1. Resident Participation – Part I
  2. Karen Imler of Unit 1111 expressed concern about short-term rentals within River Place South, as such rentals are prohibited by the cooperative’s governing documents; and inquired whether the cooperative and its shareholders would be indemnified in the event of emergencies and damages stemming from units under short-term rental.  The Board of Directors will clarify the insurance question with the cooperative’s insurance agent and, if necessary, legal counsel.  (2) Ms. Imler urged the Board of Directors to work with management to ensure the cooperative’s rules and regulations are upheld, and expressed her willingness to serve on a committee to look at other matters involving rentals less than 3 months.  (3) Ms. Imler noted there are only three lenders currently working with River Place South.  Mr. Villegas summarized the efforts being extended to secure relationships with additional lenders such as United Nations Credit Union and the Bank of Charles Town.
 
A shareholder inquired about the Board’s plans to fill the vacant seat.  Ms. Mays explained the cooperative’s bylaws allow for the appointment of a shareholder to the vacant seat.  James McInerney, III has expressed his interest in serving out at least a portion of the remaining term, and Ms. Mays noted Mr. McInerney, III is a former member of the River Place South Board of Directors.  The Board agreed to discuss the matter during Executive Session.
 

A shareholder asked how the cooperative can enforce the occupancy maximums for the units.  Ms. Waters explained four people of the same family can occupy a one-bedroom unit; five people of the same family can occupy a two-bedroom unit; and two people can occupy a studio.  Adult residents must be registered with the management office to use the cooperative’s amenities.  If management discovers there are more than the allotted number of people in a unit, the shareholder will be informed that the unit is in violation.  (2) A shareholder, Mr. Marandi  inquired whether the shares have increased for River Place South, and how many shares are currently issued. There are 1,094,193 shares in the River Place South Housing Corporation mostly due to the conversion of the Restaurant space into residential units..  Ms. Mays said the matter will be researched.  (3) The shareholder congratulated Waqas Ali on his recent article published in the Wall Street Journal.
 
A shareholder asked whether the existing mortgage loan will be due in 2020.  Ms. Mays replied in the affirmative.
 
 
  1. Presentation – Bank of Charles Town
The cooperative’s loan will mature in 2020.  Ms. Mays relayed the Board’s preference to pay off the loan over 10 years.  Raymond Goodrich, Executive Vice President & Chief Lending Officer with the Bank of Charles Town (BCT), presented information regarding his professional background before presenting options concerning the cooperative’s mortgage, as well as lending and refinancing options for shareholders.  Following his presentation, Mr. Goodrich provided answers to questions raised by Board members concerning the interest rate on a 10-year loan versus a 10-year loan; whether there would be some benefit to keeping the cooperative’s reserve funds with the Bank of Charles Town; inquiring about the kind of interest rate that would be extended to River Place South; inquiring what the transaction costs would be for doing business with the Bank of Charles Town; and seeking clarity about the application process for securing a new loan.  The Board of Directors agreed to discuss its options and have Mr. Villegas follow up with Mr. Goodrich on behalf of the Board.
 
 
  1. Approval of Agenda
Ms. Shahade moved to approve the October 29, 2019 Board Meeting agenda as amended.  Mr. Villegas seconded, and the motion carried unanimously (6-0-0).
 
 
  1. Resident Participation – Part II
Lorenzo Ricks of Unit 745asked about the benefit to shareholders regarding direct payments and turning over units to shareholders.  Ms. Mays explained the cooperative spoke with a tax attorney and other professionals, and it was determined that the co-op fees would increase since the rental units would no longer offsetting the costs; and there would be a charge for paying directly that would be beyond the current cost.  Additionally, shareholders would not save anything in taxes.  (2) Mr. Ricks inquired about Amazon’s effect on area property values.  Ms. Mays relayed the understanding that speculation about Amazon coming to the area initially boosted property values.  However, Amazon has been slowly bringing in employees so that the level of increase is not as high as anticipated.  Mr. Ricks suggested keeping shareholders abreast of property values via the cooperative’s newsletter.  (3) Mr. Ricks asked what qualifications will be used to identify potential shareholders to assume the vacant Board seat; the process to be used to appoint the shareholder; and how shareholders will be informed about the Board’s intentions prior to someone being appointed.  Ms. Mays explained, in the short-term, the Board of Directors will appoint someone to the vacant seat as permitted by the cooperative’s bylaws.  For the long-term, the matter will be placed back in the cycle for the next election.
 
Bonnie Kline of Unit 926 asked for documentation of the tax attorney’s opinion along with a list of expenses associated with turning units over to the shareholders.  Ms. Mays said the matters were discussed verbally.  Obtaining a written/formal proposal would cost the cooperative money.  Ms. Mays agreed to determine what the price would be to get something in writing, and will report her finding to Ms. Kline.
 
 
  1. Approval of Meeting Minutes (September 24, 2019)
 

 
 
  1. Reports
  2. President’s Report: A President’s Report was not presented.
 
  1. Treasurer’s Report: A Treasurer’s Report was not presented.
 
  1. Owners Association (OA) Report: Ms. Mays presented an update about Nafeesa Saafir.
 
 
  VIII.Management Report
A.     Rooftop West Wing Exterior Door: A replacement door for the west wing of the rooftop has been ordered at a cost of $2,121, and will be installed upon delivery.
 
B.     Reserve Accounts: Ms. Waters spoke with Bob Porco of FirstService Residential during the day on Tuesday, October 29th.  One set of the cooperative’s reserve funds has been moved to an account with FirstService Residential, and two more accounts are in the works.
 
C.     Fireplace Inspections: Management will send a notice to all 11th floor shareholders requiring them to provide proof of inspection for their fireplaces and flues on an annual basis.  Ms. Waters will coordinate a discounted/bulk rate for those who would like to use such a service.
 
D.    Bylaw Change – “Non-Smoking” Building Designation: The approved non-smoking bylaw designation will go into effect on Wednesday, January 1, 2020.  Management will send notice to all shareholders in advance of that date, and a location must be established for where people can smoke on the property.
 
E.     Fees for Violations: Ms. Waters would like to hold a discussion with the Board of Directors concerning violation fees.
 
F.      Occupancy: All of the building’s units are presently occupied, and there are zero delinquencies on the cooperative and rental sides.
 
 
  1. Resale Notifications
No resale notifications were presented.
 
 
  1. New Business
  2. Date of Next Board Meeting: The next River Place South Board Meeting will be held on Tuesday November 19, 2019.
 
 
  1. Old/Unfinished Business
No matters of Old/Unfinished Business were raised.
 
 
  1. Temporary Adjournment to Executive Session
The Board of Directors temporarily adjourned the Open Session at 7:01 p.m. to hold an Executive Session to discuss confidential matters.
 
 

  1. Decisions from Executive Session
Ms. Mays moved to appoint James McInerney, III to the River Place South Board of Directors to fill the seat held by Jim McInerney, II.  The Board will discuss whether to hold an election for that seat at another time.  Ms. Shahade seconded, and the motion carried unanimously (6-0-0).
 
 
  1. Adjournment
The October 29, 2019 Board of Directors meeting was adjourned at 7:04 p.m.
 
 
These minutes were respectfully drafted and submitted by:

River Place South Board Minutes-September 24, 2019

3/19/2020

 
​ThRiver Place South Housing Corporation (RPSHC)
Final Minutes From the Board of Directors Meeting
Tuesday, September 24, 2019
 
In Attendance – Board of Directors
  • Janice Mays, President
  • Jim McInerney, Treasurer
  • Sara Shahade, Secretary
  • Lauren Hall, Director
  • Vikram Reddy, Director
  • Richard Villegas, Director
 
Regrets – Board of Directors
  • Waqas Ali, Vice President
 
In Attendance – Property Management
  • Joette Waters, General Manager
  • Bryan Hernandez, Assistant General Manager
  • Bob Porco, Senior Financial Manager with First Service Residential
 
In Attendance – Shareholders
  • Nancy Greenberg, Unit 542
  • Crystal Jobe, Unit 1007
 

  1. Call to Order
The Board of Directors of the River Place South Housing Corporation held a meeting on Tuesday, September 24, 2019.  Board President Janice Mays called the meeting to order at 6:00 p.m.
 

  1. Financial Report
  2. Year-to-Date Financials:
  1. Bob Porco, Senior Financial Manager with First Service Residential (FSR), reported on the cooperative’s financial standing through August 31, 2019 (the end of the first four months of the fiscal year).  The cooperative’s cash position is strong with cash totaling $430,000 and reserves totaling $1.6 million.  Operating expenses are under budget by 9%.  A second operating account was opened to ensure the cooperative’s cash remains within the FDIC coverage limitation.  Per the budget, a total of $30,000 per month is transferred from the rental revenue to the cooperative, and then a total of $50,000 per month is transferred into the reserves.  The cooperative’s delinquencies remain low, and Mr. Porco reminded Board members that the annual budget includes a $50,000 contingency line item – funds that have typically not been used, but are available if needed.
  2. Ms. Water reported $127,000 was transferred out of the reserves on Monday, September 23, 2019 to cover expenses for current projects.  She noted the cost of the upcoming façade project will total $400,000 to $500,000, with those costs to be paid from the reserves.
  3. Mr. Porco will follow up with the Goldklang Group CPAs, P.C. to determine the status of the audit.
 
  1. New Accounting System: Mr. Porco reported, since Monday, April 1, 2019, FSR has been working to convert their accounting system from MRI to a proprietary software package called Community Association Management Accounting (CAM ACCT) that is owned by First Service Residential.  The launch date for use of the CAM ACCT system will be Friday, November 1, 2019.  Mr. Porco asked management and the Board of Directors to employ patience as any glitches are worked out during the initial stages.  The CAM ACCT financial statements will be similar to what management and Board members are accustomed to receiving from the MRI system.  However, some additional reports will be offered with the CAM ACCT system, and new general ledger codes will be used that will also be incorporated into the cooperative’s budget.  The first financial statement generated by the CAM ACCT system will be the November 2019 financial statements to be provided in December 2019.  Mr. Porco will present a sample set of financials ahead of December 2019 for review by management and members of the Board.
 
 

  1. Resident Participation
Crystal Jobe of Unit 1007 sought clarity concerning the in-unit pest control process, and inquired whether items are removed from cabinets or drawers during the service.  Ms. Waters explained shareholders are not required to remove items when pest control services are being provided in their units.  Service is provided in 12 units per week so that each unit is serviced twice per year, and the process is not typically invasive.  Ms. Waters indicated notice of in-unit extermination services is provided to shareholders 48 hours in advance of their service date.
 

  1. Approval of Agenda
Ms. Shahade moved to approve the September 24, 2019 Board Meeting agenda as presented.  Mr. Villegas seconded, and the motion carried unanimously (6-0-0).
 

  1. Approval of Meeting Minutes (August 27, 2019)
Mr. Villegas moved to approve the August 27, 2019 Board of Directors Meeting minutes, subject to incorporating the revisions posed by Ms. Hall.  Ms. Shahade seconded, and the motion carried unanimously (6-0-0).
 

  1. Reports
  2. President’s Report: A President’s Report was not presented.
 
  1. Treasurer’s Report: Please see Section II of these minutes.
 
  1. Owners Association (OA) Report:
  1. Ms. Mays reported Bill Smith has resigned as General Manager of the Owners Association.  The OA Board of Directors has offered the position to Nafeesa Saafir, the current Assistant General Manager, and is in discussions regarding salary and other details.
  2. Ms. Hall reported the OA has closed their account with Lafayette Federal Credit Union.  The River Place South Board of Directors discussed the cooperative’s relationship with various financial institutions, and Mr. Villegas reported the cooperative’s current lenders include Lafayette Federal Credit Union and UN Federal Credit Union.  Mr. Villegas will schedule a presentation from the Cambridge Bank representative with which he has been communicating.
 
 
  VII.Management Report
A.     Balcony Work: The balcony project was completed at a total cost of $273,633.  The total paid to Commercial Waterproofing was $214,833 – an overage of $19,483 due to additional paint, carpet and tile work that was required.
 
B.     Façade Work: This project is anticipated to begin in spring 2020, as the cooperative will take a break from major exterior projects during the winter months.
 
C.     Cell Towers: Ms. Waters spoke with Attorney Kevin Kernan and learned that one of the lawyers from Whiteford, Taylor Preston is reviewing the cooperative’s contract with T-Mobile to determine whether T-Mobile has the authority to install 12 antennas on the South Building’s rooftop.  Management and the Board of Directors believes the installations would be contrary to the nine antennas noted in the drawing attachment in the original contract.
 
D.    Second Floor Rodent/Pest Issue: Some second floor units sit atop humid, damp areas of the boiler room.  A safety valve recently blew on an RBI (hot water heater), causing hot water to flood the boiler room floor.  During the days that followed, residents of Units 215 through 221 began to experience multiple mice sightings.  The only way to prevent rodent access from the boiler room is to close the risers – something that must be done from within each unit.  C.L. Boyd will begin closures to the convectors in Units 215, 216, 218, 219, 220 and 221 at a cost of $550 per unit.  At the request of Ms. Mays, Ms. Waters will inquire during the next Managers’ Monthly Meeting whether the other buildings have been experiencing the same issue; and, if so, what they did to address them.
 
E.     Reserve Accounts: Signature cards have been signed for the reserve accounts, and they were returned to FSR during the day on Tuesday, September 24, 2019.  The funds removed from National Cooperative Bank were deposited with United Bank.
 
F.      RivStar Transfer Agency: Management has been unable to reach Christine Stark of the RivStar Transfer Agency to pick up the long overdue stock certificates.  The lack of response is causing a delay in transferring a River Place South unit into a Trust.  Ms. Waters will invite Ms. Stark to attend an upcoming South Building Board meeting to discuss the process for the certificates.
 
G.    Non-Smoking Building – Bylaws Change: A letter is being drafted for sending to all shareholders and residents within the coming few weeks to inform them of the changes in the smoking policy, and to notify them about the balcony rules as they relate to coverings, paint, tile, etc.  Ms. Waters noted smoking complaints continue.  Ms. Waters will contact Attorney Kernan to determine what the cooperative is required to do to provide a smoking spot for residents; and to devise penalties for non-compliance.
 
H.    Rules and Regulations Re: Hate Speech, Emblems, Symbols and Assaults: During their October 2019 meeting, the Board of Directors will discuss language drafted by Ms. Hall concerning the handling of incidents involving hate speech, emblems, symbols and assaults.
 

  1. Resale Notifications
No resale notifications were presented.
 

  1. New Business
  2. Date of Next Board of Directors Meeting: Board members agreed by unanimous consent to hold their next meeting on Tuesday, October 29, 2019 at 6:00 p.m.
 

  1. Old/Unfinished Business
No matters of Old/Unfinished Business were raised.
 

  1. Temporary Adjournment to Executive Session
The Board of Directors temporarily adjourned the Open Session at 6:58 p.m. to hold an Executive Session to discuss confidential matters.
 

  1. Adjournment
Following the conclusion of the Executive Session, the September 24, 2019 Board of Directors meeting was adjourned at 7:45 p.m.
 
  

River Place South Board Meeting Minutes-August 27, 2019

3/19/2020

 
River Place South Housing Corporation (RPSHC)
FINAL Minutes From the Board of Directors Meeting
Tuesday, August 27, 2019
 
In Attendance – Board of Directors
  • Janice Mays, President
  • Waqas Ali, Vice President (via video conference)
  • Jim McInerney, Treasurer (via telephone)
  • Sara Shahade, Secretary
  • 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
  • Nancy Greenberg, Unit 542
  • Oscar and Crystal Jobe, Unit 1007
 
 
  1. Call to Order
The Board of Directors of the River Place South Housing Corporation held a meeting on Tuesday, August 27, 2019.  Board President Janice Mays called the meeting to order at 6:00 p.m.
 
 
  1. Resident Participation
Crystal Jobe of Unit 1007 stated she has not been receiving emails from the cooperative.  Ms. Mays encouraged Ms. Jobe to ensure the management office has her correct email address.
 
Oscar Jobe of Unit 1007 reported experiencing repeated issues with the laundry machines.  Ms. Waters explained the laundry vendor is expected to visit River Place South on Wednesday, August 28th to look at the machines, and also reported an issue to the vendor about the timing of the dryers not being evenly spread out and the timing needing to be realigned.  She encouraged residents to immediately call in laundry issues when they are experienced.  If any machine has been out of order for longer than a year, residents should report such instances to the management office.
 
 
  1. Approval of Agenda
Ms. Shahade moved to approve the August 27, 2019 Board Meeting agenda as presented.  Mr. Ali seconded, and the motion carried unanimously (7-0-0).  The Board of Directors then agreed to add a discussion concerning “Rules and Regulations – Hate Speech, Emblems, Symbols and Assaults” to their September 2019 agenda.
 
 
  1. Approval of Meeting Minutes (July 16, 2019)
Ms. Shahade moved to approve the July 16, 2019 Board of Directors Meeting minutes as amended.  Mr. Villegas seconded, and the motion carried unanimously (7-0-0).
 
 

  1. Reports
  2. President’s Report: Ms. Mays reported the following information:
  1. At the request of Ms. Mays, Dr. Reddy reported recently experiencing a bat in his unit, which resulted in Dr. Reddy having to receive vaccinations because of the exposure.  He encouraged everyone to be aware that there are bats in the area – particularly persons who live on higher floors in the building.
  2. The balcony repairs are progressing favorably, and are expected to be completed during the week of September 2, 2019.
  3. Ms. Mays read the full version of the draft Anti-Smoking Policy for the benefit of those in attendance.  Ms. Mays then moved to approve the Anti-Smoking Policy as presented.  Ms. Hall seconded, and the motion carried unanimously (7-0-0).  Effective January 1, 2020, shareholders who sell or lease their unit will be required to do so as a “No Smoking” unit.  Existing shareholders and leases will be grandfathered.  The Board of Directors will discuss penalties associated with violations to the Anti-Smoking Policy at a later date.
 
  1. Treasurer’s Report: Mr. McInerney reported the following information:
  1. Mr. McInerney will speak with First Service Residential to ensure they provide the monthly financials in time for each Board meeting.  However, the cooperative’s financial position is strong year-to-date.
  2. Mr. McInerney raised the importance of refinancing the current mortgage loan to avoid the upcoming balloon payment.  Mr. Villegas stated he obtained a proposal from Raymond Goodrich with the Bank of Charleston for refinancing, and will forward it to Board members for review.  Mr. Goodrich has expressed a willingness to meet with the Board of Directors either in person or via telephone to discuss refinancing options.  Mr. McInerney indicated he will speak with the United Nations Credit Union and report back during the September 2019 Board meeting. The Board of Directors agreed to revisit the loan refinancing topic during their next meeting.
  3. Ms. Waters spoke with a loan officer at United and put him in touch with Mr. Villegas, as United may be interested in lending for purchases at River Place South.   Mr. Villegas spoke with the representative from United during the day on Tuesday, August 27, 2019.
 
  1. Owners Association (OA) Report: Ms. Mays reported the following information:
  1. The MP Garage project continues, with the last phase expected to begin soon.
  2. OA Manager Bill Smith announced he is leaving the Owners Association.  As a result, the OA Board of Directors will discuss their options regarding management of the Owners Association.
  3. The Board of Directors agreed by unanimous consent to appoint Richard Villegas to serve as the River Place South representative on the Owners Association Board of Directors.  Because Mr. Villegas already serves on the River Place East and River Place West Boards of Directors, he will inform the South Board if the appointment to the OA is too much for his schedule.
 
 
  VI.Management Report
A.     Balcony Work: The balcony project will be completed during the week of September 2, 2019.  Nearly every balcony contained some kind of application to the floor, which is against the cooperative’s rules.  Ms. Waters will send a notification to shareholders informing them of the OA’s bylaws concerning the prohibition of flooring applications on the balconies.  Ms. Waters stated Commercial Waterproofing did an outstanding job.
 
B.     Façade Work: Facility Engineering Associates, P.C. (FEA) performed an evaluation of the building’s façade.  The façade work will be pursued after the balcony project is done, and will likely not begin until spring 2020.
 
C.     Cooling Towers: The starter failed on the cooling tower on Monday, August 26th, causing the cooling tower to shut down.  Densel was contacted and visited the property during the day on Tuesday, August 27th to replace the starter.  During the performance of that work, a great deal of sediment was discovered in the system.  Therefore, Densel will return to the property on Wednesday, August 28th to apply chemicals in the cooling tower.  Ms. Waters will send an email during the morning of Wednesday, August 28th asking everyone to keep their windows and window treatments closed during application of the chemicals to keep their units cool, as the A/C will be off during the application.
 

D.    Cell Towers:
1.      Ms. Waters met with one representative from T-Mobile and two representatives from Advantage Engineering on Thursday, July 25, 2019 regarding the cell tower upgrades.  River Place South is known as “Project Anchor” to the representatives, and the engineers plan to install 12 antennas contrary to the nine antennas noted in the drawing attachment in the original contract.  To explain the discrepancy, the engineers pointed to a section in the lease that indicates they have the right to alter, replace, expand, enhance or upgrade at any time during the time of the lease.  The engineers offered to perform another study of the electromagnetic energy devices (EME’s), but have not contacted Ms. Waters since the July 25, 2019 meeting.  Ms. Waters suggested getting attorneys involved – a recommendation with which many Board members expressed agreement.
2.      During the July 25, 2019 meeting with the T-Mobile representatives and the engineers, a discussion was held about the screening that was formerly in place around the T-Mobile cell tower structure.  The screen was made of a brick-like design, and presented both an eye sore and a barrier to the line of sight for some units.  It is believed that the screen was removed at the direction of a former Board President.  However, T-Mobile reported they were contacted by the Arlington County State Historical Preservation Office as well as management for the George Washington Memorial Parkway requesting replacement of the screening.  The Board of Directors discussed the matter, but did not take any action.
3.      Other topics discussed during the July 25th meeting included denial of access to the rooftop and the replacement of a router in the equipment room.
 
E.     Terrace Leak: A recent 11th floor terrace leak caused damage to a 10th floor unit.  Commercial Waterproofing, Inc. (CWI) performed the needed repairs at a cost of $3,300.  No additional leaks have been reported.
 
F.      Telephone System: The new telephone system has been installed for the management office and concierge team.
 
G.    Arlington County Commercial Space Tax Appeal: Management received a copy of the determination that the cooperative’s building value was reduced from $2,303,700 to $1,473,200 – a reduction of $830,500. The land value remained the same at $198,900.  Ms. Waters acknowledged the work of Tom Colucci to achieve the reduction, and asked Board President Mays to sign the documentation needed to approve the decreased assessment.
 
H.    Stock Certificates: Attorney Kevin Kernan sent a letter to the RivStar Transfer Agency on Monday, July 29, 2019 demanding provision of the overdue stock certificates.  The certificates were sent to River Place South the next day via courier, and were signed by Board President Mays.  Once the cooperative’s attorney signs the certificates, they will be distributed to the appropriate shareholders.
 
I.       Rental Occupancy: The cooperative has one unit that is not rented.
 
 
  1. Resale Notifications
No resale notifications were presented.
 
 
  1. New Business
No matters of New Business were raised.
 
 
  1. Old/Unfinished Business
  2. Arlington County Commercial Space Tax Appeal: Please see Section VI.G of these minutes.
 
 

  1. Temporary Adjournment to Executive Session
The Board of Directors temporarily adjourned the Open Session at 6:43 p.m. to hold an Executive Session to discuss cooperative fee miscalculations.
 
 
  1. Adjournment
Following the conclusion of the Executive Session, the August 27, 2019 Board of Directors meeting was adjourned at 7:30 p.m.
 
 
These minutes were respectfully drafted and submitted by: The Professional Document Service
​

River Place South Board Minutes-July 16, 2019

9/20/2019

 
​River Place South Housing Corporation (RPSHC)
FINAL Minutes From the Board of Directors Meeting
Tuesday, July 16, 2019
 
In Attendance – Board of Directors
  • Janice Mays, President
  • Waqas Ali, Vice President (via video conference)
  • Jim McInerney, Treasurer (via telephone)
  • Sara Shahade, Secretary
  • Lauren Hall, Director
  • Vikram Reddy, Director
 
Regrets – Board of Directors
  • Richard Villegas, Director
 
In Attendance – Property Management
  • Joette Waters, General Manager
 
In Attendance – Shareholders
  • Nancy Greenberg, Unit 542
  • Oscar and Crystal Jobe, Unit 1007
  • Luc and Diane Vidal, Unit T-4
 

  1. Call to Order
The Board of Directors of the River Place South Housing Corporation held a meeting on Tuesday, July 16, 2019.  Board President Janice Mays called the meeting to order at 6:02 p.m.
 

  1. Resident Participation
Crystal Jobe of Unit 1007 inquired what will happen if the land lease is not renewed.  Mr. Ali explained, if the land use is not renewed, all of the River Place buildings and shares will be returned to the landlord (Monday Properties).  Mr. Ali is the South Building’s representative on a group that is working with Monday Properties to identify an alternative, more favorable outcome for the River Place entities.  The next meeting with Monday Properties will be scheduled for an August 2019 date to be determined.  Mr. Ali will then present an update to the Board of Directors during the September 2019 Board meeting.
 
Luc and Diane Vidal of Unit T-4 requested 10 minutes on the record, but asked to raise their points with the Board of Directors during Executive Session.
 

  1. Approval of Agenda
Ms. Shahade moved to approve the July 16, 2019 Board Meeting agenda as presented.  Dr. Reddy seconded, and the motion carried unanimously (6-0-0).
 

  1. Approval of Meeting Minutes (June 4, 2019)
Dr. Reddy moved to approve the June 4, 2019 Board of Directors Meeting minutes as amended.  Ms. Shahade seconded, and the motion carried unanimously (6-0-0).
 

  1. Reports
  2. President’s Report: Ms. Mays reported the balcony repair work is progressing favorably, and is proving to be a large but essential project.  Ms. Waters stated the project is approximately 70% complete, with work soon to begin on the fourth set of tiers and the overall project expected to be finished by the end of summer 2019.  Ms. Waters recommended having the pointing work performed in spring 2020, with the expense to be split between the 2019-2020 and 2020-2021 fiscal years.
 

  1. Treasurer’s Report: Mr. McInerney reported the following information:
  1. The Corporation is in a good financial position year-to-date.
  2. A financing proposal is being reviewed for maximizing the Corporation’s reserve funds.
  3. The Corporation is looking into options for refinancing the current loan to avoid the upcoming balloon payment.
 
  1. Owners Association (OA) Report: Ms. Mays reported the following information:
  1. The MP Garage project continues, and is approximately two-thirds completed.
  2. Completion of the pool façade project has resulted in a more aesthetically pleasing pool area.  However, there is still work that must be done to the inside of the pool that will be scheduled for a future date.
 
 
  VI.Management Report
A.     Balcony Work: In addition to the information reported in Section V.A of these minutes, Ms. Waters added that the balcony project is revealing damaged concrete as well as units that have covered balcony floors.  There will be an additional cost of $500 to $550 per balcony for removing paint, carpeting or tile.
 
B.     Façade Work: Facility Engineering Associates, P.C. (FEA) performed an evaluation of the building’s façade.  The façade work will be pursued after the balcony project has been completed.
 
C.     Cell Towers: T-Mobile’s attempts to gain access to the River Place South roof continue, as they would like to install Remote Radio Units (RRUs).  Ms. Waters recommends holding out for the rubber mats to cover the walkway areas that were promised upon completion of the roof approximately one year and a half ago.  Ms. Waters will attempt to have representatives from T-Mobile attend the August 2019 River Place South Board meeting.
 
D.    Washington Gas: Washington Gas failed to charge River Place South for commodities during the months of January 2019 through April 2019.  The issue was discovered, and the Corporation was billed $40,529.48 – an amount that has been paid, and will be recorded in the July 2019 financial report.  First Service Residential will include a footnote in the financial reports for the auditors to classify the expense as part of the 2018-2019 fiscal year.
 
E.     Terrace Leaks: The building has been experiencing more terrace leaks – something that is also being experienced in the West Building.  The leaking terraces noted in the South Building will be investigated by Commercial Waterproofing, and repairs will be made as soon as possible.
 
F.      Telephone System Replacement: Ms. Waters requested and received a proposal from Slable to upgrade the telephone system used by the management office and concierge team. (Slable is the company that installed the new WiFi system in the building and provides ongoing technical support.)  The proposal includes the installation of five new telephones with many more features than the current system and a fax line at a cost savings of approximately $100 per month.  Service would no longer be with Verizon under the new arrangement.  Those Board members in attendance agreed by unanimous consent to have management move forward with the telephone system replacement.
 
G.    Reserve Accounts: Management recommends changing the Corporation’s reserve accounts with First Service Residential to a new financial institution that offers greater interest income.  The accounts with National Cooperative Bank, Lafayette Federal Credit Union, Eagle Bank, and Burke & Herbert Bank will be closed if better interest rates can be found.  The account with United Bank will remain open, as they offered a higher interest rate to keep the Corporation’s accounts.  Ms. Waters asked the officers of the Board to complete new signature cards for the United Bank account.
 
H.    Comcast: On Wednesday, July 24th, technicians will install fiber optics from the main trash/compactor room through the trash/compactor room on each floor where the nodes have been moved.  The work will require a shutdown of Comcast’s services for several hours on the 24th.  Comcast informed Ms. Waters that River Place South is the last building in Arlington to have the fiber moved.
 
I.       Lease Violation: Board members held a discussion concerning a lease violation.  The Board of Directors agreed by unanimous consent that, if a shareholder presents lease paperwork indicating a three-month lease and the tenant moves out prior to the end of the three months, and the shareholder is a repeat offender and was made aware of the bylaw minimum lease requirement, the Board of Directors agreed that the penalty fee would escalate to the highest penalty allowed by the Board’s resolution on lease minimum guidelines rather than going up incrementally.  Ms. Waters noted that management regularly reviews short-term rental web sites to identify River Place South units.
 
J.       RivStar Transfer Agency: A letter of complaint was sent by a shareholder seeking the Board’s help with the receipt of stock certificates from the RivStar Transfer Agency.  Ms. Waters stated there are 26 missing stock certificates.  Board members discussed the issue along with potential solutions.  The Board agreed to have the Corporation’s attorney, Kevin Kernan, draft a letter to be sent to the RivStar Transfer Agency concerning the stock certificates that need to be provided.
 
K.    Non-Smoking Building: Attorney Kevin Kernan provided instructions regarding the process to designate River Place South as a smoke-free building.  A survey was sent to shareholders seeking feedback concerning the matter.  A total of 35 responses have been received to date – a 14% response rate.  Of those 35 responses, 91.43% were in favor of making River Place South a smoke-free building.  Those Board members in attendance agreed by unanimous consent to incorporate the proposed amendment into the smoke-free building notice and include the notice in the announcement for the next Board meeting.
 
L.     Rental Occupancy: The Corporation rented six units in the interim of the June 2019 and July 2019 Board meeting, with two units currently vacant.
 

  1. Resale Notifications
No resale notifications were presented.
 

  1. New Business
  2. Rules and Regulations Re: Hate Speech, Emblems, Symbols and Assaults: Ms. Hall stated there have been recent incidents involving hate speech in the East and West Buildings.  As a result, M.J. Schmelzer from the River Place East Board of Directors drafted proposed language for incorporation into the rules and regulations of each River Place entity.  The language would govern how each entity should respond to incidents of hate speech, the use of offensive emblems and assaults.  Those Board members in attendance agreed by unanimous consent to review the draft language and further discuss it during their next meeting.
 

  1. Old/Unfinished Business
  2. RivStar Transfer Agency: Please see Section VI.J of these minutes.
 
  1. Façade Project: Please see Section VI.B of these minutes.
 
  1. Balcony Rehab Project: Please see Section V.A and VI.A of these minutes.
 
  1. T-Mobile: Please see Section VI.C of these minutes.
 
 

  1. Temporary Adjournment to Executive Session
The Board of Directors temporarily adjourned the Open Session at 7:04 p.m. to hold an Executive Session to discuss reserve portfolio changes and hear from Luc and Diane Vidal of Unit T-4.
 

  1. Adjournment
Following the conclusion of the Executive Session, the July 16, 2019 Board of Directors meeting was adjourned at 7:43 p.m.

September 20th, 2019

9/20/2019

 
​River Place South Housing Corporation (RPSHC)
FINAL Minutes From the Board of Directors Meeting
Tuesday, August 27, 2019
 
In Attendance – Board of Directors
  • Janice Mays, President
  • Waqas Ali, Vice President (via video conference)
  • Jim McInerney, Treasurer (via telephone)
  • Sara Shahade, Secretary
  • 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
  • Nancy Greenberg, Unit 542
  • Oscar and Crystal Jobe, Unit 1007
 
 
  1. Call to Order
The Board of Directors of the River Place South Housing Corporation held a meeting on Tuesday, August 27, 2019.  Board President Janice Mays called the meeting to order at 6:00 p.m.
 
 
  1. Resident Participation
Crystal Jobe of Unit 1007 stated she has not been receiving emails from the cooperative.  Ms. Mays encouraged Ms. Jobe to ensure the management office has her correct email address.
 
Oscar Jobe of Unit 1007 reported experiencing repeated issues with the laundry machines.  Ms. Waters explained the laundry vendor is expected to visit River Place South on Wednesday, August 28th to look at the machines, and also reported an issue to the vendor about the timing of the dryers not being evenly spread out and the timing needing to be realigned.  She encouraged residents to immediately call in laundry issues when they are experienced.  If any machine has been out of order for longer than a year, residents should report such instances to the management office.
 
 
  1. Approval of Agenda
Ms. Shahade moved to approve the August 27, 2019 Board Meeting agenda as presented.  Mr. Ali seconded, and the motion carried unanimously (7-0-0).  The Board of Directors then agreed to add a discussion concerning “Rules and Regulations – Hate Speech, Emblems, Symbols and Assaults” to their September 2019 agenda.
 
 
  1. Approval of Meeting Minutes (July 16, 2019)
Ms. Shahade moved to approve the July 16, 2019 Board of Directors Meeting minutes as amended.  Mr. Villegas seconded, and the motion carried unanimously (7-0-0).
 
 

  1. Reports
  2. President’s Report: Ms. Mays reported the following information:
  1. At the request of Ms. Mays, Dr. Reddy reported recently experiencing a bat in his unit, which resulted in Dr. Reddy having to receive vaccinations because of the exposure.  He encouraged everyone to be aware that there are bats in the area – particularly persons who live on higher floors in the building.
  2. The balcony repairs are progressing favorably, and are expected to be completed during the week of September 2, 2019.
  3. Ms. Mays read the full version of the draft Anti-Smoking Policy for the benefit of those in attendance.  Ms. Mays then moved to approve the Anti-Smoking Policy as presented.  Ms. Hall seconded, and the motion carried unanimously (7-0-0).  Effective January 1, 2020, shareholders who sell or lease their unit will be required to do so as a “No Smoking” unit.  Existing shareholders and leases will be grandfathered.  The Board of Directors will discuss penalties associated with violations to the Anti-Smoking Policy at a later date.
 
  1. Treasurer’s Report: Mr. McInerney reported the following information:
  1. Mr. McInerney will speak with First Service Residential to ensure they provide the monthly financials in time for each Board meeting.  However, the cooperative’s financial position is strong year-to-date.
  2. Mr. McInerney raised the importance of refinancing the current mortgage loan to avoid the upcoming balloon payment.  Mr. Villegas stated he obtained a proposal from Raymond Goodrich with the Bank of Charleston for refinancing, and will forward it to Board members for review.  Mr. Goodrich has expressed a willingness to meet with the Board of Directors either in person or via telephone to discuss refinancing options.  Mr. McInerney indicated he will speak with the United Nations Credit Union and report back during the September 2019 Board meeting. The Board of Directors agreed to revisit the loan refinancing topic during their next meeting.
  3. Ms. Waters spoke with a loan officer at United and put him in touch with Mr. Villegas, as United may be interested in lending for purchases at River Place South.   Mr. Villegas spoke with the representative from United during the day on Tuesday, August 27, 2019.
 
  1. Owners Association (OA) Report: Ms. Mays reported the following information:
  1. The MP Garage project continues, with the last phase expected to begin soon.
  2. OA Manager Bill Smith announced he is leaving the Owners Association.  As a result, the OA Board of Directors will discuss their options regarding management of the Owners Association.
  3. The Board of Directors agreed by unanimous consent to appoint Richard Villegas to serve as the River Place South representative on the Owners Association Board of Directors.  Because Mr. Villegas already serves on the River Place East and River Place West Boards of Directors, he will inform the South Board if the appointment to the OA is too much for his schedule.
 
 
  VI.Management Report
A.     Balcony Work: The balcony project will be completed during the week of September 2, 2019.  Nearly every balcony contained some kind of application to the floor, which is against the cooperative’s rules.  Ms. Waters will send a notification to shareholders informing them of the OA’s bylaws concerning the prohibition of flooring applications on the balconies.  Ms. Waters stated Commercial Waterproofing did an outstanding job.
 
B.     Façade Work: Facility Engineering Associates, P.C. (FEA) performed an evaluation of the building’s façade.  The façade work will be pursued after the balcony project is done, and will likely not begin until spring 2020.
 
C.     Cooling Towers: The starter failed on the cooling tower on Monday, August 26th, causing the cooling tower to shut down.  Densel was contacted and visited the property during the day on Tuesday, August 27th to replace the starter.  During the performance of that work, a great deal of sediment was discovered in the system.  Therefore, Densel will return to the property on Wednesday, August 28th to apply chemicals in the cooling tower.  Ms. Waters will send an email during the morning of Wednesday, August 28th asking everyone to keep their windows and window treatments closed during application of the chemicals to keep their units cool, as the A/C will be off during the application.
 

D.    Cell Towers:
1.      Ms. Waters met with one representative from T-Mobile and two representatives from Advantage Engineering on Thursday, July 25, 2019 regarding the cell tower upgrades.  River Place South is known as “Project Anchor” to the representatives, and the engineers plan to install 12 antennas contrary to the nine antennas noted in the drawing attachment in the original contract.  To explain the discrepancy, the engineers pointed to a section in the lease that indicates they have the right to alter, replace, expand, enhance or upgrade at any time during the time of the lease.  The engineers offered to perform another study of the electromagnetic energy devices (EME’s), but have not contacted Ms. Waters since the July 25, 2019 meeting.  Ms. Waters suggested getting attorneys involved – a recommendation with which many Board members expressed agreement.
2.      During the July 25, 2019 meeting with the T-Mobile representatives and the engineers, a discussion was held about the screening that was formerly in place around the T-Mobile cell tower structure.  The screen was made of a brick-like design, and presented both an eye sore and a barrier to the line of sight for some units.  It is believed that the screen was removed at the direction of a former Board President.  However, T-Mobile reported they were contacted by the Arlington County State Historical Preservation Office as well as management for the George Washington Memorial Parkway requesting replacement of the screening.  The Board of Directors discussed the matter, but did not take any action.
3.      Other topics discussed during the July 25th meeting included denial of access to the rooftop and the replacement of a router in the equipment room.
 
E.     Terrace Leak: A recent 11th floor terrace leak caused damage to a 10th floor unit.  Commercial Waterproofing, Inc. (CWI) performed the needed repairs at a cost of $3,300.  No additional leaks have been reported.
 
F.      Telephone System: The new telephone system has been installed for the management office and concierge team.
 
G.    Arlington County Commercial Space Tax Appeal: Management received a copy of the determination that the cooperative’s building value was reduced from $2,303,700 to $1,473,200 – a reduction of $830,500. The land value remained the same at $198,900.  Ms. Waters acknowledged the work of Tom Colucci to achieve the reduction, and asked Board President Mays to sign the documentation needed to approve the decreased assessment.
 
H.    Stock Certificates: Attorney Kevin Kernan sent a letter to the RivStar Transfer Agency on Monday, July 29, 2019 demanding provision of the overdue stock certificates.  The certificates were sent to River Place South the next day via courier, and were signed by Board President Mays.  Once the cooperative’s attorney signs the certificates, they will be distributed to the appropriate shareholders.
 
I.       Rental Occupancy: The cooperative has one unit that is not rented.
 
 
  1. Resale Notifications
No resale notifications were presented.
 
 
  1. New Business
No matters of New Business were raised.
 
 
  1. Old/Unfinished Business
  2. Arlington County Commercial Space Tax Appeal: Please see Section VI.G of these minutes.
 
 

  1. Temporary Adjournment to Executive Session
The Board of Directors temporarily adjourned the Open Session at 6:43 p.m. to hold an Executive Session to discuss cooperative fee miscalculations.
 
 
  1. Adjournment
Following the conclusion of the Executive Session, the August 27, 2019 Board of Directors meeting was adjourned at 7:30 p.m.
 
 
These minutes were respectfully drafted and submitted by: The Professional Document Services

Board Meeting is scheduled for Tuesday, September 24, 2019 at 6:00pm

9/20/2019

 
To all River Place South Shareholders
The next
River Place South Board Meeting
will be held on
Tuesday, September 24, 2019
at 6:00 pm in the South Party Room.
 
 
All shareholders are cordially invited to attend.

Board Meeting Minutes June 4, 2019

8/28/2019

 
​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:

River Place South Board Minutes-August 27, 2019

8/26/2019

 
​River Place South Housing Corporation (RPSHC)
FINAL Minutes From the Board of Directors Meeting
Tuesday, August 27, 2019
 
In Attendance – Board of Directors
  • Janice Mays, President
  • Waqas Ali, Vice President (via video conference)
  • Jim McInerney, Treasurer (via telephone)
  • Sara Shahade, Secretary
  • 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
  • Nancy Greenberg, Unit 542
  • Oscar and Crystal Jobe, Unit 1007
 
 
  1. Call to Order
The Board of Directors of the River Place South Housing Corporation held a meeting on Tuesday, August 27, 2019.  Board President Janice Mays called the meeting to order at 6:00 p.m.
 
 
  1. Resident Participation
Crystal Jobe of Unit 1007 stated she has not been receiving emails from the cooperative.  Ms. Mays encouraged Ms. Jobe to ensure the management office has her correct email address.
 
Oscar Jobe of Unit 1007 reported experiencing repeated issues with the laundry machines.  Ms. Waters explained the laundry vendor is expected to visit River Place South on Wednesday, August 28th to look at the machines, and also reported an issue to the vendor about the timing of the dryers not being evenly spread out and the timing needing to be realigned.  She encouraged residents to immediately call in laundry issues when they are experienced.  If any machine has been out of order for longer than a year, residents should report such instances to the management office.
 
 
  1. Approval of Agenda
Ms. Shahade moved to approve the August 27, 2019 Board Meeting agenda as presented.  Mr. Ali seconded, and the motion carried unanimously (7-0-0).  The Board of Directors then agreed to add a discussion concerning “Rules and Regulations – Hate Speech, Emblems, Symbols and Assaults” to their September 2019 agenda.
 
 
  1. Approval of Meeting Minutes (July 16, 2019)
Ms. Shahade moved to approve the July 16, 2019 Board of Directors Meeting minutes as amended.  Mr. Villegas seconded, and the motion carried unanimously (7-0-0).
 
 

  1. Reports
  2. President’s Report: Ms. Mays reported the following information:
  1. At the request of Ms. Mays, Dr. Reddy reported recently experiencing a bat in his unit, which resulted in Dr. Reddy having to receive vaccinations because of the exposure.  He encouraged everyone to be aware that there are bats in the area – particularly persons who live on higher floors in the building.
  2. The balcony repairs are progressing favorably, and are expected to be completed during the week of September 2, 2019.
  3. Ms. Mays read the full version of the draft Anti-Smoking Policy for the benefit of those in attendance.  Ms. Mays then moved to approve the Anti-Smoking Policy as presented.  Ms. Hall seconded, and the motion carried unanimously (7-0-0).  Effective January 1, 2020, shareholders who sell or lease their unit will be required to do so as a “No Smoking” unit.  Existing shareholders and leases will be grandfathered.  The Board of Directors will discuss penalties associated with violations to the Anti-Smoking Policy at a later date.
 
  1. Treasurer’s Report: Mr. McInerney reported the following information:
  1. Mr. McInerney will speak with First Service Residential to ensure they provide the monthly financials in time for each Board meeting.  However, the cooperative’s financial position is strong year-to-date.
  2. Mr. McInerney raised the importance of refinancing the current mortgage loan to avoid the upcoming balloon payment.  Mr. Villegas stated he obtained a proposal from Raymond Goodrich with the Bank of Charleston for refinancing, and will forward it to Board members for review.  Mr. Goodrich has expressed a willingness to meet with the Board of Directors either in person or via telephone to discuss refinancing options.  Mr. McInerney indicated he will speak with the United Nations Credit Union and report back during the September 2019 Board meeting. The Board of Directors agreed to revisit the loan refinancing topic during their next meeting.
  3. Ms. Waters spoke with a loan officer at United and put him in touch with Mr. Villegas, as United may be interested in lending for purchases at River Place South.   Mr. Villegas spoke with the representative from United during the day on Tuesday, August 27, 2019.
 
  1. Owners Association (OA) Report: Ms. Mays reported the following information:
  1. The MP Garage project continues, with the last phase expected to begin soon.
  2. OA Manager Bill Smith announced he is leaving the Owners Association.  As a result, the OA Board of Directors will discuss their options regarding management of the Owners Association.
  3. The Board of Directors agreed by unanimous consent to appoint Richard Villegas to serve as the River Place South representative on the Owners Association Board of Directors.  Because Mr. Villegas already serves on the River Place East and River Place West Boards of Directors, he will inform the South Board if the appointment to the OA is too much for his schedule.
 
 
  VI.Management Report
A.     Balcony Work: The balcony project will be completed during the week of September 2, 2019.  Nearly every balcony contained some kind of application to the floor, which is against the cooperative’s rules.  Ms. Waters will send a notification to shareholders informing them of the OA’s bylaws concerning the prohibition of flooring applications on the balconies.  Ms. Waters stated Commercial Waterproofing did an outstanding job.
 
B.     Façade Work: Facility Engineering Associates, P.C. (FEA) performed an evaluation of the building’s façade.  The façade work will be pursued after the balcony project is done, and will likely not begin until spring 2020.
 
C.     Cooling Towers: The starter failed on the cooling tower on Monday, August 26th, causing the cooling tower to shut down.  Densel was contacted and visited the property during the day on Tuesday, August 27th to replace the starter.  During the performance of that work, a great deal of sediment was discovered in the system.  Therefore, Densel will return to the property on Wednesday, August 28th to apply chemicals in the cooling tower.  Ms. Waters will send an email during the morning of Wednesday, August 28th asking everyone to keep their windows and window treatments closed during application of the chemicals to keep their units cool, as the A/C will be off during the application.
 

D.    Cell Towers:
1.      Ms. Waters met with one representative from T-Mobile and two representatives from Advantage Engineering on Thursday, July 25, 2019 regarding the cell tower upgrades.  River Place South is known as “Project Anchor” to the representatives, and the engineers plan to install 12 antennas contrary to the nine antennas noted in the drawing attachment in the original contract.  To explain the discrepancy, the engineers pointed to a section in the lease that indicates they have the right to alter, replace, expand, enhance or upgrade at any time during the time of the lease.  The engineers offered to perform another study of the electromagnetic energy devices (EME’s), but have not contacted Ms. Waters since the July 25, 2019 meeting.  Ms. Waters suggested getting attorneys involved – a recommendation with which many Board members expressed agreement.
2.      During the July 25, 2019 meeting with the T-Mobile representatives and the engineers, a discussion was held about the screening that was formerly in place around the T-Mobile cell tower structure.  The screen was made of a brick-like design, and presented both an eye sore and a barrier to the line of sight for some units.  It is believed that the screen was removed at the direction of a former Board President.  However, T-Mobile reported they were contacted by the Arlington County State Historical Preservation Office as well as management for the George Washington Memorial Parkway requesting replacement of the screening.  The Board of Directors discussed the matter, but did not take any action.
3.      Other topics discussed during the July 25th meeting included denial of access to the rooftop and the replacement of a router in the equipment room.
 
E.     Terrace Leak: A recent 11th floor terrace leak caused damage to a 10th floor unit.  Commercial Waterproofing, Inc. (CWI) performed the needed repairs at a cost of $3,300.  No additional leaks have been reported.
 
F.      Telephone System: The new telephone system has been installed for the management office and concierge team.
 
G.    Arlington County Commercial Space Tax Appeal: Management received a copy of the determination that the cooperative’s building value was reduced from $2,303,700 to $1,473,200 – a reduction of $830,500. The land value remained the same at $198,900.  Ms. Waters acknowledged the work of Tom Colucci to achieve the reduction, and asked Board President Mays to sign the documentation needed to approve the decreased assessment.
 
H.    Stock Certificates: Attorney Kevin Kernan sent a letter to the RivStar Transfer Agency on Monday, July 29, 2019 demanding provision of the overdue stock certificates.  The certificates were sent to River Place South the next day via courier, and were signed by Board President Mays.  Once the cooperative’s attorney signs the certificates, they will be distributed to the appropriate shareholders.
 
I.       Rental Occupancy: The cooperative has one unit that is not rented.
 
 
  1. Resale Notifications
No resale notifications were presented.
 
 
  1. New Business
No matters of New Business were raised.
 
 
  1. Old/Unfinished Business
  2. Arlington County Commercial Space Tax Appeal: Please see Section VI.G of these minutes.
 
 

  1. Temporary Adjournment to Executive Session
The Board of Directors temporarily adjourned the Open Session at 6:43 p.m. to hold an Executive Session to discuss cooperative fee miscalculations.
 
 
  1. Adjournment
Following the conclusion of the Executive Session, the August 27, 2019 Board of Directors meeting was adjourned at 7:30 p.m.
 
 
These minutes were respectfully drafted and submitted by:

River Place South Board Meeting Minutes-April 30,2019

8/26/2019

 
​River Place South Housing Corporation (RPSHC)
FINAL Minutes From the Board of Directors Meeting
Tuesday, April 30, 2019 – 6:00 p.m.
 
In Attendance – Board of Directors
  • Janice Mays, President
  • Waqas Ali, Vice President (via video conference)
  • Jim McInerney, Treasurer
  • Sara Shahade, Secretary
  • Lauren Hall, Director
  • Vikram Reddy, Director
 
Regrets – Board of Directors
  • Richard Villegas, Director
 
In Attendance – Property Management
  • Joette Waters, General Manager
  • Bryan Hernandez, Assistant General Manager
  • Bob Porco, Financial Representative, First Service Residential
 
In Attendance – Shareholders
  • Nancy Greenberg, Unit 542
  • Bonnie Kline, Unit 926
  • Naomi Pena, Unit 721
 
 
  1. Call to Order
The Board of Directors of the River Place South Housing Corporation held a meeting on Tuesday, April 30, 2019.  Board President Janice Mays called the meeting to order at 6:18 p.m.
 
 
  1. Results of Executive Session
Ms. Mays moved to allow the Corporation’s financial management experts from First Service Residential to move forward with finding financial institutions for investment purposes, and to approve an appraisal at a cost of up to $7,000. Mr. McInerney seconded, and the motion carried unanimously (6-0-0).
 
 
  1. Recess to Executive Session
At 6:24 p.m. the Board of Directors temporarily recessed back into Executive Session to discuss a unit specific matter.
 
 
  1. Return to Open Session
Open Session was reconvened at 6:28 p.m. by unanimous consent.
 
 
  1. Resident Participation
Bonnie Kline of Unit 926 inquired which company the Corporation is working with regarding reserve funds. Ms. Mays stated the Corporation is working with First Service Residential.
 
 
  1. Approval of Agenda
Ms. Shahade moved to approve the April 30, 2019 Board meeting agenda as presented.  Mr. McInerney seconded,  and the motion carried unanimously (6-0-0).
 
 
  1. Approval of Meeting Minutes (February 26, 2019)
Ms. Shahade moved to approve the February 26, 2019 Board of Directors meeting minutes as presented.  Mr. McInerney seconded, and the motion carried by a vote of five in favor, zero opposed and one abstained (Ms. Hall)
(5-1-0).
 
 
  1. Appointment of Officers
Dr. Reddy moved to appoint the officers as follows:
 
Janice Mays, President
Waqas Ali, Vice President
Sarah Shahade, Secretary
Jim McInerney, Treasurer
All other Board members will serve as Directors
 
Ms. Mays seconded, and the motion carried unanimously (6-0-0).
 
 
  1. Reports
  2. President’s Report and OA Report: Ms. Mays reported the OA has discovered more issues in the garage.  However, the project is still moving ahead and vehicles are being moved.  Engineers working on the garage project have discovered several areas where rebar had been cemented over, and it has been determined that rebar has rotted in these locations.  New rebar must now be installed to ensure structural safety.  This increase will be in the $10,000 to $30,000 range.  This increase is due to the discovery of further issues as work progresses that was not visible during the initial inspection.  The OA is focusing more on garage safety than aesthetics at the present time.  The project is still on schedule.  The OA pool project is also in progress.  Planters on top of the garage were also stabilized as it was discovered that dirt, gravel and other materials inside the planters was unstable.
 
  1. Treasurer’s Report: As of March 31, 2019, the Corporation had a total of approximately $1.6 million in reserves. The BB&T operating account has not yet been closed, as Mr. Porco will set up an excess operating account – likely with Revere Bank since they are offering the highest interest rate.  That money can then be transferred into the Capital One operating account if funds begin to run low.  The Capital One account currently holds $128,000 which is sufficient for monthly operations.  The BB&T account holds approximately $202,000.  Delinquencies remain low, and the 2018-2019 audit will begin sometime in early summer 2019.
 
Operations are running slightly above the $12,000 surplus for the 11 months of the current fiscal year.  Budget variances were highlighted.  It was noted that there is a $45,000 contingency line item under “Administrative Expenses” that can be used as a buffer.  In the past 11 months, the Corporation has had capital improvements of approximately $186,000 and has only moved $42,000 from the reserves.  However, additional funds have been moved in April 2019 that are not reflected in the March 2019 financials. Approximately $600,000 will be contributed to the reserves during the 2018-2019 fiscal year.  The reserve contribution may be decreased for the next fiscal year.
 
 
  X.Management Report
A.     Balcony Work: Balcony work commenced on Monday, April 15, 2019 on the 06-07 tier.  The 18-19 tier will be next.  This work is being performed by Commercial Waterproofing – the same company that is working on the OA garage project.  The work is expected to be complete on the 06-07 tier before the pool has opened for the season.
 
B.     Façade Engineering Study: As part of the reserve study, the façade of the building is due to be evaluated for repair. Facility Engineering Associates has already completed the first step.  Their estimate for the visual inspection and engineering study came to $4,600.  They are now moving on to the second step – the performance of a restoration design study and specifications which is estimated to cost approximately $4,000.
 
C.     Boilers and Cooling Tower: The boilers have been shut down, and water is now being heated by the RBIs (domestic hot water heaters).  The intake tank on the cooling tower must be replaced, which will cost approximately $10,000. The part has been delivered, and should be installed by Friday, May 3rd.  The air conditioning system will then be turned on.
 
D.    Convector Cleaning: This work is underway, and a more thorough cleaning is being done in 2019 than usual.  A wet degreaser cleaning will take longer, but is more thorough and will hopefully aid in resolving the convector leak issues seen in summer 2018.
 
E.     Cell Towers: Management continues to push back against the installation of more equipment in the building’s trash rooms. The Corporation’s legal counsel has looked at the T-Mobile contract to determine if River Place South has any leverage, but it seems the Corporation does not. Ms. Waters will not allow any workers related to the cell towers onto the roof without being accompanied due to damage that was previously caused to the roof.
 
F.      Annual Meeting Packet: The shareholder packet that follows the 2019 Annual Meeting was mailed during the week of April 22nd, and included a link to an electronic survey regarding the options of shareholders regarding the designation of River Place South as a non-smoking building.  If implemented, the change would require a bylaws amendment, and legal counsel has provided a sample for how that amendment would be written.  Management and the Board also indicated that Corporation-owned rentals are now leased as non-smoking units, and recommended that owners renting their units consider adding a non-smoking clause to their lease agreement.
 
G.    Rental Occupancy: Rentals have reached their maximum limit at 100%.  However, commercial occupancy is low.  Parking spaces are 87% occupied, and several parking spaces are not rentable due to their size, obstruction, or four spaces being taken up by balcony work.  Management will discuss these spaces with the Owners Association, as the OA should give additional parking spaces to a building whose spaces have been compromised.
 
H.    Loading Dock: A sign is in place stating that any individuals found to be dumping trash at the loading dock will be subject to a $250 fine.  This is now being enforced by management.
 
I.       Breaking Down Boxes: Trash rooms are becoming increasingly full due to residents not breaking down boxes.  Ms. Waters is obtaining larger recycling cans, and will send a letter reminding residents to flatten boxes before placing them in or on the side of the green recycling bin.
 
 
  1. Resale Notifications
Resales have been incredibly busy, which could potentially be due to the impact of Amazon’s arrival in the area.  There have been significantly more resales than is typical in the last few months – some for occupants and some for owners intending to rent.  The Corporation is still working to clarify the relationship between River Place South and T4, and is trying to come to an agreement with their lawyers.
 
 
  1. New Business
  2. Officer Representatives: The Board of Directors approved the following by unanimous consent: Ms. Shahade will serve as representative to the Owners Association for the South Building; and Dr. Reddy, Ms. Mays, and Ms. Hall will represent Parcel 5 to the OA.
 
 
  1. Old/Unfinished Business
  2. Balcony Rehab Project: Please see Section X.A of these minutes.
 
 
  1. Temporary Adjournment to Executive Session
The Board of Directors temporarily adjourned the Open Session at 7:26 p.m. to hold an Executive Session for the discussion of confidential Corporation matters.
 
 
  1. Adjournment
Following the conclusion of the Executive Session, the April 30, 2019 Board of Directors meeting was adjourned at 7:30 p.m.
These minutes were respectfully drafted and submitted by:

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