River Place South Board Minutes November 28, 2017

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RIVER PLACE SOUTH HOUSING CORPORATION
BOARD OF DIRECTORS MEETING
November 28, 2017

CALL TO ORDER
The meeting was called to order by Ms. Mays at 5:55 p.m.  
Board Members Present: 
Janice Mays          President
Waqas Ali              Vice President [arrived 5:56]
Jim McInerney      Treasurer
Sara Shahade       Secretary
Vic Reddy              Director
Richard Villegas    Director
David Williams      Director
 
Board Members Absent:  None.
 
Others Present:             Joette Waters                   Building Manager
                                        Brian Hernandez              Assistant Manager
                                        Barbara Seaman               Recording Secretary
                                       
Residents: Nancy Greenberg #542; Lauren Hall #1029 & 1034; Howard Wilkes #707.
 
APPROVAL OF AGENDA:
 
MOTION:  Ms. Shahade moved, Mr. Williams seconded, to approve the agenda as amended. The motion passed unanimously (7-0-0).
 
MANAGER’S REPORT:
 
Landscaping: Campbell & Ferrara gave a presentation and suggested planting azaleas at the loading dock to make it more presentable. It was also suggested that the OA take on a cohesive landscaping plan for the property. The RPS building manager made a request to include landscaping at the bare strip of grass at the loading dock.
 
RESIDENT PARTICIPATION: The residents present wanted to observe the meeting.
 
REPORTS:
 
Treasurer: Mr. McInerney said that reserves were at about $762,000. He also said that income exceeds expenses by $75,000 and that the corporation was under budget by 5%. Rentals, Ms. Waters said, were at 98%. She added that about 15 parking spaces were moved for contractors and were now rentable but 2 spaces assigned by the OA were to be used by employees. Mr. McInerney then said that operating cash was $280,000 and that $47,000 was being contributed to reserves each month. Mr. Villegas added that National Bank of Washington, DC was a new mortgage broker and that he was contacting Arlington Credit Union.
 
MANAGER’S REPORT-continued:
 
Loading Dock, Recycle, and Trash Room Doors: All doors need to be replaced. Estimates for a roll-up trash room door are coming in.
Gas Detection System: The system can be tied into a monitor that can detect leaks, shut off boilers, and send an alarm. Installation is being scheduled.
HVAC: Replacement of #1110 heat pump is complete. However, the owner is enlisting Comfort Air to install a quieter model and will pay the difference in price.
Window Film for 11th Floor: The Signal Defense SD500 product will cost about $14,000 and is scheduled for installation on December 11.
Cell Phone Towers: T-Mobile is revising its plan since it included a 3rd sled which was not in the contract. If necessary, legal counsel will be contacted.
AT & T Upgrade: Awaiting payment for damages made to the roof during upgrade.
AHU Engineering Services: Tate Engineering will submit a quote to rebuild. More field work and outside contractors are required. 
New Employee: Nathalie Benitah was hired for concierge and office support.
Shareholder/Resident Issues: Two windows were ordered at a cost of $2900 to replace storefront windows that broke during a storm
Air BnB: Letters were sent to those who violated rules on renting for fewer than 3 months. The County also requires a permit and that the unit must be the primary residence for 160 days. Offenders will be fined as stated in the Resolution.
 
NEW BUSINESS:
 
Endorsement Signatures for Board Membership: Mr. Williams said that a candidate for the Board must get signatures from 10 owners. He added that it was hard to get the signatures in time for the Annual Meeting and that the candidate must come to the office to get the shareholders’ list. He moved to waive the requirement but, after the Board agreed that the signatures just affirmed the candidates’ qualifications to run, he withdrew his motion.
 
OLD BUSINESS:
 
Skigen Enterprises: T-4 Sale: No new information.
Reserve Study: Five Board members worked with Doug Greene to create a draft report. It was recommended that $571,000 go into reserves next year and that the contributions increase each year. This translates to about a 2% coop increase annually.  Modifications to the schedule of reserve items can be made each year and Mr. Greene can revise the study. Ms. Waters can look into creating a summary for shareholders.
 
Next Meeting: The next meeting will be held on January 23.
 
EXECUTIVE SESSION:
 
MOTION:  There being no further business for the open session, the meeting was adjourned to Executive Session at 7:04 p.m. There were no objections.
 
 
 
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