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Hello Shareholders,
Please be advised that the next Board Meeting of the River Place South Housing Corporation will be held on Tuesday, November 10, 2020, at 6:00pm. The meeting will be held remotely via ZOOM. Due to COVID-19 in person attendance is not permitted. We will email the Zoom instructions the day prior to the meeting. All shareholders are welcome to participate. Sincerely, Joette Waters General Manager River Place South Management Office Hello Shareholders,
Please be advised that the next Board Meeting of the River Place South Housing Corporation will be held on Tuesday, September 29, 2020, at 6:00pm. The meeting will be held remotely via ZOOM. Due to COVID-19 in person attendance is not permitted. We will email the Zoom instructions the day prior to the meeting. All shareholders are welcome to participate. Sincerely, Joette Waters General Manager River Place South Management Office River Place South Housing Corporation (RPSHC)
FINAL Minutes From the Board of Directors Meeting Tuesday, February 18, 2020 In Attendance – Board of Directors
Regrets - Board of Directors
In Attendance – Property Management
In Attendance – Shareholders
As of December 31, 2019, the cooperative had a surplus of approximately $36,000 (5% below budget on operating expenses). A major contributor to the strong cash position is income from the 70 rental units owned by the cooperative, as well as the cooperative’s reserve funds. The audit for fiscal year ending April 30, 2019 was recently completed. The results were a clean audit with no issues. Ms. Mays reported $165,000 in taxes (state and federal combined) were paid for that fiscal year - down from $202,000 in 2018 and $240,000 in 2017. Mr. Porco stated the taxes are paid on a quarterly basis to avoid a large bill at the end of the fiscal year. A shareholder brought up the cooperative loan that will be due for payment in May 2020. The cooperative attempted unsuccessfully to refinance the loan with the existing lender. Therefore, the Board considered several other options, and only one of those options has proven viable. The cooperative will seek to move forward with that option. The interest rate on the current loan is 6.25%, but the new loan will include an interest rate of 5.25%. The original loan had a 25-year amortization. However, the new loan will have a 15-year amortization, which means it will be paid off five years earlier than the previous loan. Ms. Mays explained, because of the total amount of the loan, the cooperative’s bylaws requires approval from two-thirds of all shareholders to approve the loan. Following the financial presentations, Mr. Porco, Mr. Wolfe, and the Board of Directors answered questions posed by shareholders:
Ms. Hall stated she will send formatting preferences to Ms. Waters for implementing into future sets of Board meeting minutes.
VII.Management Report A. Deferred Assessment Resolution: Ms. Mays moved that the cooperative elect to apply all or part of any excess income to the following year’s assessments; and that such final amount shall be at the discretion of the Board of Directors. Ms. Hall seconded, and the motion carried unanimously (6-0-0). B. Exterior Building Facade: The façade of the South Building was evaluated for repair by Facility Engineering Associates, P.C.(FEA) - the same company that completed work for the West Building, and performed roof studies for the North and East Buildings. FEA subsequently prepared and submitted a report of their findings along with recommendations. Board members discussed the information provided by FEA and reviewed photographs, and agreed to pursue the necessary repairs at a reasonable cost while preserving the remaining façade. Shareholder James Marandi agreed to provide useful information to Mr. McInerney concerning façade work. C. Asbestos Removal: In November 2019, asbestos was removed from a closet inside the mechanical room at a cost of $9,800. The next phase will include the removal of asbestos from the boiler room and the re-application of insulation at a cost of $3,800. D. Fire Department Inspection: The Arlington County Fire Department performed an inspection of the building on January 3, 2020 and January 6, 2020. A few violations were noted. The estimated cost of the inspection and the required minor repairs totaled approximately $15,000. All violations have since been addressed with the exception of the gym violations that will be completed prior to the end of February 2020. E. HVAC Split Systems: The recent, semi-annual HVAC inspection of individual split systems revealed a need to replace several split units. Two of those units are in Commercial Suite S300, and will be replaced in spring 2020. F. Camera for Loading Dock: A new camera will be installed at the loading dock by Stanley prior to the end of February 2020. The cost will be $2,000, and the camera will cover a blind spot that overlooks the loading dock. G. Fire System Dialer: The cooperative will receive an upgraded fire system dialer prior to the end of February at a cost of $1,225. H. Chiller and Cooling Tower: Ms. Waters summarized the work needed on the chiller and cooling tower, including repairs to the coil irons at a cost of $2,215; a major overhaul of the systems in 2021 at an approximate cost of $30,000; replacing the water inlet panel at a cost of $8,234; and replacing the backflow valve on the expansion tank of the cooling tower at a cost to be determined. I. Fireplace Inspections: Management sent a letter to the 11th floor shareholders on January 30, 2020 requesting their response by February 29, 2020 to provide proof of having their fireplaces inspected. In March 2020, letters will be sent to those who have dryers asking them to provide proof of cleaning the dryer vents. J. Loading Dock Facelift: The staff power washed and painted the loading dock; installed new bumpers; installed new signage that includes requirements to have a parking pass, a prohibition on parking for no more than 30 minutes, and a prohibition on smoking at the loading dock or anywhere within 25 feet of the building; and installed a new railing in the rear of the building near the boiler room. The staff members are now painting in the trash area and around the trash openings. K. Inspections and Cleanings: The annual convector and maintenance inspections will commence in mid-March. Prior to that, in early March, the five-year vent and duct cleanings will take place in each unit using heavy duty vacuums with filtration systems and rotary brushes. L. Trash and Recycling: 1. The cooperative is being fined $134 to $270 every month for trash and recycling violations. Ms. Waters presented a summary of the letter sent to each unit regarding proper trash and recycling procedures. 2. The trash compactor is presently on lease. Waste Management inherited the lease from CSI, and will not likely renew the lease. The cost to purchase a new trash compactor and bins would be approximately $32,000. M. Annual Meeting: The Association’s 2020 Annual Meeting will take place on Tuesday, March 24th. Shareholders will receive the Annual Meeting notice in early March, and The League of Women Voters is scheduled to supervise the meeting. N. 2019 Audit: The auditor from the Goldklang Group CPAs, P.C. indicated the cooperative’s 2019 audit has been finished, and will get the draft to management as soon as possible. O. Riv-Star Transfer Agency: Ms. Mays summarized the issues experienced with the Riv-Star Transfer Agency with receiving shares during title transfers. Richard Villegas has agreed to assist with resolution of the matter as a temporary agent, and will receive payment for his services. However, Mr. Villegas will recuse himself from any Board decisions that pose a conflict of interest. P. Hand Sanitizer: Five hand sanitizer stations have been placed throughout the building - two in the lobby, one in the management office, and two in other areas. Everyone is strongly encouraged to use the sanitizer and keep their hands washed in light of flu season and concerns about the Coronavirus. Q. Rentals: The cooperative has 100% occupancy for its commercial rentals. Ms. Waters noted that FSR corrected an issue with improperly classifying some of the cooperative’s rent potential as a vacancy.
River Place South Housing Corporation (RPSHC)
FINAL Minutes From the Board of Directors Meeting Tuesday, January 14, 2020 In Attendance – Board of Directors
In Attendance – Property Management
In Attendance – Shareholders
Bonnie Kline, Unit 926: Ms. Kline asked whether the three month minimum concerning unit rentals means an exact minimum of 90 days. Ms. Mays stated the cooperative will not quibble over one or two days. Ms. Waters stated 90 days is the accepted rule of thumb. Ms. Mays explained that the person who signed the lease does not have to physically occupy the unit for three months, but they have the right to occupy the unit as part of the lease. (3) Ms. Jobe asked whether it is permissible for family members or friends to utilize one of her units for a short period of time. Ms. Waters explained Ms. Jobe should provide advanced notice to the management office that guests will be in one of her units. However, if the guests would like to use the pool or gym, the Owners Association must be notified.
VI.Management Report A. A/C Split Units: A recent, semi-annual inspection of the individual A/C splits revealed a need to replace several units. However, a solution was devised to repair many of the units rather than replace them. The exception is two units in commercial space S300 that will be replaced once warmer weather arrives. B. Loading Dock Camera: Stanley will install a new camera at the loading dock to cover an existing blind spot at a cost of $2,000. C. Fire System Dialer Upgrade: VSC will install a new dialer for the fire system at a cost of $1,225. The existing dialer is very old and replacement parts are no longer available. D. Fire Inspection: The building’s fire inspection was performed on Friday, January 3, 2020 and Monday, January 6, 2020. Ms. Waters summarized the minor violations that were noted and will be addressed. (Mr. Ali joined the meeting at this juncture via teleconference at 6:32 p.m.) E. Janitorial Staff: Issues have been occurring with some members of the janitorial staff, and there has been difficulty employing and retaining reliable workers. Two janitors have been replaced during the previous two months. The newest janitor began working on Monday, January 13, 2020. Management is seeking service from an alternative company due to other ongoing issues. F. Railing Replacement: A railing will be replaced at the basement level in the rear of the building near the boiler room. G. Annual Meeting: The Association’s 2020 Annual Meeting will take place on Tuesday, March 24, 2020. Management will send notices to owners during the third week of January. H. Commercial Tax Rate: An appeal involving the cooperative’s commercial tax rate resulted in a reduction of the commercial space value by $1 million, and a refund of $12,030 (including a bit of interest). That money has been deposited against the tax expenses for the 2019 calendar year. I. Reserve Accounts: Management awaits an update concerning the transfer of funds from the existing accounts to the new account with FirstService Residential. J. “No Smoking” Bylaw Change: The bylaws change to prohibit smoking in the building became effective January 1, 2020. Letters were sent to shareholders and renters concerning the matter, and signs have been posted on the property. The cigarette disposal container near the sidewalk leading to the building was removed. The only cigarette disposal container that remains is on the west corner of the front of the building. The Board must still make a decision concerning the penalty that will be imposed for violations of the smoking ban. K. Parking: Ms. Waters asked that the OA consider ways to prevent people from parking along the fire lane across from the gym. Parking violations in that area prevent Cordatis from backing out of their spaces. Ms. Mays indicated she will speak with the OA concerning the matter. L. Rentals: The cooperative has 100% occupancy for its commercial rentals, while parking occupancy is at 82%.
These minutes were respectfully drafted and submitted by: March 18, 2020 AMENDED NOTICE OF THE THIRTY-FIFTH ANNUAL SHAREHOLDERS MEETING This Amended Notice of the River Place South Housing Corporation’ Annual Shareholders Meeting is intended to provide updated information on how the Corporation will conduct its 2020 Annual Meeting given the threat of the Coronavirus and the recommendations provided to the general public in regards to the holding of social gatherings. This Amended Notice also corrects a typo included in the original meeting notice. The Corporation’s Thirty-Fifth Annual Meeting of the River Place South Housing Corporation will be held on Tuesday, March 24, 2020 at 6:30 p.m. in the River Place South Party Room. In order to minimize the number of individuals in the building party room, the Board is requiring members to attend the annual meeting remotely by utilizing the conference call number below. Conference Call #: 1-503-300-6833 Conference Code: 409529 Host Code: 7216 In order to assure that quorum is established and action may be taken at the meeting, the Board encourages all shareholders to hand deliver proxy forms to the River Place South Management Office by 5:00 P.M. on Tuesday March 24, 2020 (the date of the Annual Meeting). Otherwise, shareholders should mail their proxy forms to: The League of Women Voters of Arlington Attention: River Place South Post Office Box 100577 Arlington, Virginia 22210 In addition to the election of Board Members (blue proxy form), the Shareholders are voting this year to approve the refinance of an existing loan by authorizing the Board to borrow $1,950,000.00 which is to be secured by the (70) housing units owned by the River Place South Housing Corporation[i] (green proxy form). If the refinancing approval is not obtained, payment on the existing loan balance will be due within sixty (60) days. Approval of two-thirds (2/3) of the Shareholders present, in person or by proxy, at the April 2020 annual meeting is required in order to secure the refinance loan. [i] The original 2020 Annual Meeting Notice stated that the proposed loan would also be secured by parking spaces as well as the 70 Units. No parking spaces will be utilized to secure the loan. March 2, 2020
Official Notice of the Thirty-Fifth Annual Shareholders Meeting The Thirty-Fifth Annual Meeting of the River Place South Housing Corporation is scheduled to be held on: Tuesday, March 24, 2020 at 6:30 p.m. River Place South Party Room 1011 Arlington Boulevard, Arlington, Virginia 22209
This year there are two (2) positions up for election, each for a three (3) year term. Enclosed you will find the “Statements of Qualification and Interest of Candidacy” from those shareholders who presented their nominations in accordance with the River Place South Housing Corporation bylaws. If you elect to vote in person, please bring your enclosed ballot and be prepared to present a valid identification. If you serve as a managing agent for a shareholder and the shareholder will not attend the meeting, you must obtain the shareholders’ signature on the enclosed proxy ballot in order to vote the shares. Should you be unable to attend the meeting in person, we have enclosed an envelope addressed to the League of Women Voters of Arlington, who is acting as the official Inspector of Election. Please review carefully, and vote for your Candidate(s) using the 2020 Annual Ballot, or the Proxy Statement to designate your voting authority to another. Since no write-in votes or nominations from the floor are permitted, you may vote for only the qualified candidates shown on the official ballot. NOTE: In order for your vote to count, your unit(s), assessment(s), fee(s) and ALL maintenance repair invoice(s) must be current. If you have any further questions, please contact the Secretary of the River Place South Housing Corporation, Sara Shahade, or the Management Office of River Place South at (703) 528-3555. Sincerely, Sara Shahade, Secretary River Place South Housing Corporation Board of Directors River Place South Housing Corporation (RPSHC)
DRAFT Minutes From the Board of Directors Meeting Tuesday, November 19, 2019 In Attendance – Board of Directors
In Attendance – Property Management
In Attendance – Shareholders
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.”
River Place South Housing Corporation (RPSHC)
Final Minutes From the Board of Directors Meeting Tuesday, October 29, 2019 In Attendance – Board of Directors
In Attendance – Property Management and Guest Presenter
In Attendance – Shareholders
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.
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.
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.
These minutes were respectfully drafted and submitted by: ThRiver Place South Housing Corporation (RPSHC)
Final Minutes From the Board of Directors Meeting Tuesday, September 24, 2019 In Attendance – Board of Directors
Regrets – Board of Directors
In Attendance – Property Management
In Attendance – Shareholders
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.
River Place South Housing Corporation (RPSHC)
FINAL Minutes From the Board of Directors Meeting Tuesday, August 27, 2019 In Attendance – Board of Directors
In Attendance – Property Management
In Attendance – Shareholders
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.
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.
These minutes were respectfully drafted and submitted by: The Professional Document Service |