River Place South Board Minutes-January 30, 2018

RIVER PLACE SOUTH HOUSING CORPORATION
BOARD OF DIRECTORS MEETING
January 30, 2018

CALL TO ORDER
The meeting was called to order by Ms. Mays at 5:41 p.m.  
Board Members Present: 
Janice Mays           President
Waqas Ali              Vice President [arrived 5:53]
 Jim McInerney     Treasurer [by phone]
Sara Shahade       Secretary
Vic Reddy              Director
Richard Villegas    Director
David Williams      Director
 
Board Members Absent:  None.
 
Others Present:                Joette Waters                   Building Manager
                                           Don Perper                      Zalco
                                           Bob Porco                        Zalco
                                           Kevin Kernan                    Whiteford, Taylor, Preston
                                           Barbara Seaman              Recording Secretary
                                       
Residents: Nancy Greenberg #542; Lauren Hall #1029 & 1034; Linda Mejia, Remax Allegiance #518; Naomi Pena #721.
 
ZALCO REPORT: Mr. Porco said that the financials as of December 31, 2017 showed a strong cash position on both the co-op and the rental side. He said that the rental side had about $369,000 but that bills would be coming in at the beginning of next month. He also suggested moving money in both the co-op side and rental side as a buffer. He said that the co-op side has an operating surplus of $100,000 and operating expenses were $84,000 under budget. He added that capital expenses were $565,000 mainly for the roof. In response to Mr. Reddy’s question about the remainder of the loan, Mr. McInerney suggested that he and Ms. Waters and Mr. Reddy hold a conference call with Eagle Bank. Mr. Villegas also recommended that they ask the bank about prepayment penalties and refinancing with another bank.  Over all, Mr. Porco said that the corporation’s cash position was strong and that the rentals are generating enough money to cover expenses. In addition, there was about $1 million in reserves even after capital expenses.
 
[Mr. Perper and Mr. Porco left the meeting at 5:54 p.m.]
 
The Board then held an Executive Session after which the open session was reconvened.
 
RESIDENT PARTICIPATION:
 

• Ms. Greenberg #542 said she was enjoying the renovations.
• Ms. Mejia #518 said that her clients have trees that are obstructing their view of Georgetown and Washington. She also said she contacted Bill Smith of the OA and she took photos She added that if units are going to sell and to preserve the value of the property, something should be done about the trees. Ms. Mays suggested sending photos to Ms. Waters and Ms. Fairman and the RPS representatives to the OA will recommend putting the matter on the next OA agenda.
• Ms. Pena #721 said that plants were needed to make the view outside her unit more attractive without obstructing it. She also said that Arlington County said it was VDOT’s problem and wants to hear the OA’s position on landscaping as a way of the County’s negotiating with VDOT. Ms. Mays said the OA representatives will ask to put the matter on the agenda for the next OA meeting.
   
  APPROVAL OF AGENDA:
   
  MOTION:  Ms. Shahade moved, Mr. Williams seconded, to approve the agenda as amended. The motion passed unanimously (7-0-0).
   
  APPROVAL OF MINUTES:
   
  MOTION:  Ms. Shahade moved, Mr. Williams seconded, to approve the Minutes of November 28, 2017 as amended. The motion passed unanimously (7-0-0).
  REPORTS:
   
  President: In terms of the OA, Ms. Mays reported that the Board decided to raise fees by 1%. 
   
  Treasurer: Mr. McInerney said he had nothing to add to the Zalco report.
   
  MANAGER’S REPORT:
   
  Trash for the Buildings: Ms. Waters said that the OA should have its own trash service rather than the buildings having to increase the number of pickups. Mr. Williams said that the OA would have to have its own dumpsters and asked the managers to decide on a number at their meeting.
  Building Damages: Damages have been detected in several walls and the lobby ceiling as well as a leak that appear to have been caused by the earthquake in Delaware on November 30.
  Boiler: Some repairs are needed for both heat and hot water caused by extreme temperatures and failures in ancillary equipment,
  Doors for Loading Dock, Recycle and Trash Rooms: The loading dock door has been installed and the door for the recycle room is expected. Pricing for a roll-up door for the trash/compactor room is coming in.
  Roof: The project is under way and should be completed by mid-February. Roof leaks caused by the roof replacement will be repaired upon completion of the work.
  Trash/Recycle System: Trash cans should be replaced. The cost will be $3,081for each. Three are recommended.
   
  MOTION:            Mr. Villegas moved, Ms. Mays seconded, to authorize $9500 to buy 3 trash containers. The motion passed unanimously (7-0-0).
   
  OLD BUSINESS:
   
  A T & T Damages: Damages caused by the August upgrade have been paid.
  Personnel: Marco Ricasata is ending his Friday hours at the Concierge Desk but will remain on Sunday for now.
  Eleventh Floor Windows: The estimate from Advance Window is $173,700 which does not include curtain windows in Units 1103 and 1104. These windows were replaced in the late 90s. The only ones needed replacement are in #1110 which are all original. Advance Window will re-measure the 1110 windows which are cracked.
   
  NEW BUSINESS:
  Annual Meeting: The Annual Meeting will be held on March 27, 2018. The League of Women Voters will tally votes.
   
  EXECUTIVE SESSION:
   
  MOTION:  There being no further business for the open session, the meeting was adjourned to Executive Session at 7:05 p.m. There were no objections.
   
   
   
   
  

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