Highview Condominium II
Board of Directors - Meeting Minutes
February 23, 2016  7:30 p.m.  

The seventh regular meeting of the 2015-2016 Highview Condominium II Board of Directors was called to order at approximately 7:30 p.m. by Sindhu Mathew, President.  Board members in attendance: Joseph Cann, Marjorie Cannon, Joan Desantis, Rosanna Fernandez, and Sindhu Mathew.  Robert Boynton was unable to attend in person, but participated by conference call.  Board members absent:  Michael D'Angelo, Bernard Davis, and Madalina Rauscher.  Siobhan Hickey and Marissa Zinnanti attended from Carriage House Property Management. 

1)   Building Repair & Maintenance:

      a)    Board approved Milano bid for restoration of second floor, north-end, hallway exhaust vent.
      b)   Residents colliding at lobby-level fire door.  Incident discussed and discussing option with vendors for either larger window in door, cautionary signage, and/or a way of limiting how quickly door opens.  Noted that a resident waiting for the elevator was hit and knocked to the floor by the door being opened.
      c)    Parking lot resurfacing:  No update.
      d)   Front entrance refinish of doors/windows bids:  Board requested discussion with contractor concerning explanation of process.  Getting additional bid from South Shore Glass.
      e)    Garage floor:  Awaiting sealant bids for spring/summer work..
      f)    Wallpaper and carpet replacement:  Contract signed.  On hold pending building loan.
      g)   Compactor room - toilet installation:  Awaiting completion of design work by Salamon Engineering.
      h)   Electrical back-up - generator system:  Awaiting completion of design work by Salamon Engineering.
      i)    North-end sidewalk & stairwell repairs:  Management continues to receive contractor bids for stairwell north sidewalk, sidewalk from north-east corner to entrance area, and various cracked flags and curbs.
      j)    Water infiltration reports:  Fall 2015 unit inspections completed with the exception of three vacant and two occupied units.  Once complete, exterior masonry repairs can be bid.
      k)   Security upgrades/repairs:  Remainder of repairs holding pending building loan.
      l)    Spring unit inspections:  Super to begin Spring 2016 unit inspections and smoke detector battery replacements.
      m)  Heating complaint:  Management investigating a heating complaint from unit 4-C. 

2)   Financial Report:

a)    Account balances:  Reviewed.
b)   Unit arrears:  Board reviewed unit arrears with managing agent.
c)    Building Loan:  At the General Membership meeting of 01/28/16, a vote was taken according to the Bylaws authorizing the Board of Managers to take out a 5-year $400,000 loan for Capital repairs and renovations.  Sixty-six percent of the building's unit owners according to unit points were represented at the meeting and the authorization was approved with no dissenting votes.  The Board has subsequently applied to Empire State Bank for the loan and the bank has advised the Board that we should anticipate a reply to the application in 4-8 weeks.  If Empire State Bank approves the loan, unit owners will then have 30 days to decide whether to pre-pay their individual share of the $400,000 or be locked into participation in the loan.  
At the meeting, a chart of all apartment units in the building and their share of the $400,000 as determined by unit points of building ownership.   It was noted that units with parking spaces own an additional tenth of a point.  The chart also included a column estimating a unit's monthly cost for those who wish to consider participating in the 5-year loan; also based on unit points as a share of the loan.  The actual monthly cost for a unit could only be estimated at this time as the closing costs of the loan, such as the bank's $4,000 origination and $400 processing fee, would only be shared by the units participating in the loan.  Only after the deadline for unit owners to opt-out and pre-pay their share of the $400,000 will we know exactly how many units will be left to share in the closing costs of the loan. 
If the Board receives a positive reply from the bank, unit owners will then receive an update and the forms to complete in 30 days with their loan participation decision.
d)   Audit for FY2015:  Work on the FY2015 audit by Louis Picaro of Sciarrino Kindya & Co. and Financial Solutions Group continues.
e)    Monthly financial reporting:  Board has requested monthly financial report to reflect budgeted versus actual by cost center as well as YTD figures.  Should indicate budget remaining in various cost centers.  No update. 

3)   Legal Report:

a)    Building insurance:  Current insurance company has indicated that they will not be renewing building's liability policy.  Current policy expires 03/20/16.  Management seeking bids.  Bids discussed.
b)   Unit liens:  Discussed.
c)    NYC code violations:  One DOB building violation indicated by City on their website as remaining open/active.  Management indicates violation is from 2012 and will require an engineering report.  At 09/2015 meeting, Board approved Salamon Engineering to conduct the 2012 report required by NYC.  No update.
d)   Lease compliance:  Reviewed.
e)    Insurance compliance (owner coverage):  Reviewed.
f)    Insurance compliance (leased units/tenant coverage):  Reviewed.
g)   Insurance claim:  Possible claim against the building discussed.  Not certain whether claim is against 830 Howard Ave. or 850 Howard Ave.  No update.
h)   Contact information for unit 3-D and 4-G:  Discussed status of unit and legal contact information.  No progress. 

4)   Summary review of meeting's action items:  Not reviewed. 

The meeting was adjourned at approximately 9:30 p.m  Minutes submitted by Robert Boynton, Secretary.