River Place South Board of Directors Meeting September 25, 2018

Final
 
RIVER PLACE SOUTH HOUSING CORPORATION
BOARD OF DIRECTORS MEETING
September 25, 2018

CALL TO ORDER: Ms. Mays called the meeting to order at 6:05 p.m.  
Board Members Present: 
Janice Mays           President
Waqas Ali              Vice President
Sara Shahade       Secretary
David Williams      Director
Richard Villegas    Director
Vic Reddy              Director
 
Board Members Absent:  Jim McInerney       Treasurer
 
Others Present:             Joette Waters         Building Manager
                                        Brian Hernandez    Assistant Manager
                                        Barbara Seaman     Recording Secretary
                                       
Residents: Shuntai Zhou/Yingying Li #946; Naomi Pena #721; Maria Lucas #627; Bonnie Kline #927; Nancy Goldberg #542.
 
RESIDENT PARTICIPATION:
 

• Mr. Zhou asked that notices of Board meetings be sent to owners/residents by email Mr. Ali replied that the Board was working on compiling an owners’ email list. Mr. Zhou also said that the information on the website was outdated. Ms. Waters said that information is always a couple of months behind. Mr. Zhou then said he supported the policy of a 3-month minimum lease. Mr. Ali said that it was the position of the majority.
• Ms. Kline said that she understood that rental units belonged to shareholders and asked why the income did not go to shareholders.  Ms. Mays replied that the income is used to reduce fees so shareholders het that benefit. She also said that the income could be distributed to shareholders but that it would involve administrative costs. Mr. Williams added that the bylaws state that a surplus at the end of the year must go into the next budget and cannot be divided to distribute to shareholders. Ms. Mays also said that the money goes into reserves to maintain an aging building so that a special assessment is not required. Mr. Williams added that commercial spaces are under-performing. Ms. Kline then added that budgeting was not in keeping with the co-op documents that limit reserve expenditures for future repairs, alterations, and improvements to $40,000. Mr. Williams said that the figure is from 1998. Mr. Ali then said the Board will review the documents and report back at the next meeting.
• Ms. Lucas asked if there has been any progress on the land lease. Mr. Ali said that 3 meetings have been held with the landlord and that the advisory committee is trying to find a mutually beneficial solution.

 
APPROVAL OF AGENDA:
 
MOTION:  Ms. Shahade moved, Mr. Villegas seconded, to approve the agenda as amended. The motion passed unanimously (6-0-0).
 
APPROVAL OF MINUTES:
 
MOTION:  Mr. Ali moved, Ms. Shahade seconded, to approve the Minutes of August 23, 2018 as amended. The motion passed unanimously (6-0-0).
 
REPORTS:
 
President/OA Representative: Ms. Mays had no report as president, but said that the OA was replacing the HVAC units at the Entertainment Center. She also said that the MP garage will be renovated in the spring to address the problem with leaks.
 
Treasurer:  No report.
 
MANAGER’S REPORT:
 
Air Handler: Densel’s estimate of $6,200 to replace the filter frame is being negotiated.
Laundry Room: An email was sent to all residents that the door code was changed to 5289 on October 1.
Generator Transfer Switch Failure: Transfer switch must be replaced since parts are obsolete. Cost has been estimated at $12,000.
         
MOTION:  Mr. Villegas moved, Ms. Shahade seconded, to approve up to $12,000 for the generator transfer switch. . The motion passed unanimously (6-0-0).
 
WiFi Service: Slabe installed an extender in the corner of Unit 918.
Windows-11th Floor: A window contract has been signed and delivery is expected in 8-12 weeks.
Roof: The roof project was completed in May 2018. Additional expenses related to 15 retrofit drains, decking, wall replacement, and roof hatch total $8,845.
Roof Leaks in Gym Entry and Rec Room: Estimates are coming in.
Noise Complaints: An email was sent to the managing agent of Unit 519.
Water Leaks in Units: Several leaks were reported some of which were caused by resident negligence.
Service and Emotional Support Animals: Corporation lawyer said a statement should be sent to those who request an exception to the pet free policy that gives requirements for the accommodation.
 
NEW BUSINESS:
 
Stairwell C: Mr. Williams said that the stairs are twice as long as others and need more lighting. Ms. Mays also suggested installing reflective tape. Mr. Williams added that the stairwell has no access to the 3rd floor and needs signs.
 
OLD BUSINESS:
 
Unit #129 HVAC:  Ms. Mays proposed a modification to the HVAC winter policy by splitting the $780 cost to accommodate the shareholder’s health issues.
 
MOTION:  Ms. Mays moved, Mr. Reddy seconded, to split the winter costs of $780 for the HVAC with the shareholders. The motion passed (5-0-1 with Mr. Ali abstaining).
 
 
Lease Term Limitation: Ms. Mays read the Board’s intention to reaffirm and confirm the policy of renting apartments for no less than 3 months, as stated in the current Bylaws of the River Place South Housing Corporation dated July 2010. It states:
The Board confirms amendment of Article VII, Section 7.12(f) of the Corporation Bylaws to read as follows:
No Apartment shall be rented or leased by a Shareholder for any period less than 3 months.  No portion of any Apartment (other than the entire Apartment) shall be rented or leased for any period.  No Shareholder shall rent or lease an Apartment other than on a written form of lease providing that failure of the lessee to comply with the Governing Documents shall constitute a default under the lease and that, in the event of such default, the Board of Directors or any Officer designated by the Board shall have the power as attorney-in-fact for the Shareholder to terminate the lease and bring summary eviction proceedings against the tenant if such default is not cured within seven (7) days of sending a written notice of the default to the Shareholder.  The Board of Directors may provide a suggested standard form lease for use by Shareholders.  Each Shareholder shall, promptly following the execution of any lease of an Apartment, forward a conformed copy thereof to the Secretary.  The provisions of this subsection, except the restriction against renting or leasing a portion of an Apartment, shall not apply to the Sponsor or to a Mortgagee in possession of an Apartment as a result of foreclosure or deed or assignment in lieu of foreclosure.
A notice was posted in the lobby announcing the intent to reaffirm at the Board meeting.
 
MOTION:  Mr. Ali moved, Ms. Shahade seconded, to approve the lease  term limitation. The motion passed unanimously (6-0-0).
 
EXECUTIVE SESSION:
 
There being no further business for the open session, an Executive Session was convened at 6:54 p.m.
 
Submitted,                                                     
Sara Shahade, Secretary