River Place South Board Minutes September 12, 2017 & October 17, 2017 (partial-unable to transcribe)

RIVER PLACE SOUTH HOUSING CORPORATION
BOARD OF DIRECTORS MEETING
October 17, 2017

CALL TO ORDER
The meeting was called to order by Ms. Mays
Board Members Present: 
Janice Mays                     President
Waqas Ali              Vice President
Jim McInerney       Treasurer
Sara Shahade         Secretary
Vic Reddy              Director
Richard Villegas    Director
David Williams      Director
 
Board Members Absent:      None     
 
Others Present:                Joette Waters                   Building Manager
                                        Brian Hernandez              Assistant Manager
                                        Bob Porco                       Zalco
 

 
 
 
FINANCIAL REPORT: Mr. Porco reported that the audit has been completed and there were no issues. Turning to the financial statements through August, he said that the corporation had $324,000 in the operating account and $1,267,000 in reserves. He also said that River Place South contributes $47,000/month to reserves. He added that the corporation spent $147,000 in the first 4 months and had a low delinquency rate for both rentals and co-op. Operating expenses, he said, were 11% under budget most of which were due to utilities but they can fluctuate and will be monitored. He concluded by saying that there was a surplus of $74,000 for the first 4 months.
 
EXECUTIVE SESSION: The Board then went into Executive Session.  
 

FINAL
 
RIVER PLACE SOUTH HOUSING CORPORATION
BOARD OF DIRECTORS MEETING
September 12, 2017

CALL TO ORDER
The meeting was called to order by M. Ali at 6:00 p.m.  
Board Members Present: 
Waqas Ali              Vice President
Jim McInerney       Treasurer (by phone)
Sara Shahade        Secretary
Vic Reddy             `Director
Richard Villegas    Director
David Williams      Director
 
Board Members Absent:  Janice Mays                               President     
 
Others Present:             Joette Waters                   Building Manager
                                        Brian Hernandez              Assistant Manager
                                        Barbara Seaman               Recording Secretary
                                       
Residents: Nancy Greenberg #542; Lauren Hall #1029 & 1034; Jim Wolfe #547; Wanda & Joe Martin #1105; Howard Wilkes #707.
 
APPROVAL OF AGENDA:
 
MOTION:  Mr. Williams moved, Ms. Shahade seconded, to approve the agenda as amended. The motion passed unanimously (6-0-0).
 
APPROVAL OF MINUTES:
 
MOTION:  Mr. Williams moved, Ms. Shahade seconded, to approve the Minutes of August 8, 2017 as written.  The motion passed (6-0-0).
 
RESIDENT PARTICIPATION:
 

• Mr. Martin #1105 suggested having management rent out units for a fee. Ms. Waters said since she works for the corporation, it would be a conflict of interest. Mr. Ali said that Ms. Waters already has a full plate and that he could provide a list of licensed property managers. Mr. Martin also thanked Ms. Waters for the mirror. Mrs. Martin added that it would not be a conflict if the tenant is looking at a variety of units and making a choice. Mr. Ali said Ms. Waters is not a licensed property manager.
• Ms. Greenberg #542 complimented the changes to the décor especially at the elevator landings.
• Mr. Wolfe #422 added his compliments to the landings and the mailroom. He also renewed his request to look at the last 3 years of holiday spending. He added that some of the 1st floor storage room is occupied by non-residents and non-shareholders and should be available to shareholders. Mr. Ali said that Mr. Lesnick will be moving out in October and the space will be available. Mr. Wolfe then said that Amazon was seeking and 2nd headquarters and suggested that the buildings come together about redevelopment so that they can act quickly if there is an offer. Mr. Villegas said that Arlington County has made a proposal to Amazon.
• Mr. Wilkes #707 asked about making the inner doors to the garage automatic. Ms. Waters said that she would look into getting bids on an ADA approved door that can be opened with a key for.
   
  REPORTS:
   
  Vice President: Mr. Ali had no report.
  Treasurer: Mr. McInerney deferred to Ms. Waters for the financial report. Citing the July financial statement, Ms. Waters said that the corporation had $236,000 in operating cash and $1.2 million in reserves. She added that capital improvements amounted to $146,000 and that Zalco said that the corporation was in good financial shape and had no issues.
  OA: Mr. Williams reported that the OA Board discussed replacing roofs on the commercial village, pool, and gazebo. They also discussed installing more cameras at the gatehouse and bike racks. Mr. Williams will take the suggestion of putting bike racks somewhere on the property that is safe and not obtrusive.  He also said that the OA discussed its authority to determine what can be on balconies and the issue of tribute/award parties.
   
  MANAGER’S REPORT:
  Roof and Roof Shielding Estimates: The final bill for the roof and copper shielding is 18,493 more than the Board approved. 
   
  MOTION:  Mr. Ali moved, Mr. Villegas seconded, to approve an additional $25,000 for the roof project, bringing the total to $575,000. The motion passed (6-0-0).
   
  T-Mobile: T-Mobile is beginning its upgrade. The company was told about the plan to replace the roof and that it would be preferable for them to do the upgrade first.
   
  AT&T: Work has resulted in damage to the tower roof and caused water leaks into the elevator machine room. Bills for the repairs will be sent to AT&T.
   
  NEW BUSINESS:
   
  Zalco New Owner: Zalco will be part of FirstService but there will be no structural changes and representatives to River Place South will stay the same.
   
  OLD BUSINESS:
   
  Skigen-Sale of T-4: No change.
   
  [The Board recessed from 6:39-6:41 p.m.]
   
  Co-op Management/Rental Management: Mr. Ali then cited a co-op delinquency, rental occupancy of 95%, and parking occupancy of 98%.
   
  Next Meeting: The next meeting will be scheduled.
   
  EXECUTIVE SESSION:
   
  MOTION:  There being no further business for the open session, the meeting was adjourned to Executive Session at 6:42 p.m. There were no objections.