SAMMAMISH WATERWAY CONDOMINIUM ASSOCIATION
BOARD OF DIRECTORS MEETING MINUTES
OCTOBER 20, 2009
6:30 PM
1. Call Meeting to Order – 6:33pm
· Attendance: Erik Noyd, Mary Allen, Kent Hutchings, Tom Smith,
· Property Management: Rich Redelfs
2. Approval of Previous Board Meeting Minutes – September 22, 2009
· Erik moved to approve the meeting minutes, Tom seconded.
3. Comments or Questions from Homeowners
A. Request for Late Charge Waiver – Michael Lavin, #3205
· Board felt sufficient explanation of due date was provided and did not approve a late charge waiver.
B. Allan Fritz’ request that payments be reduced from 180 payments to 177 payments
· The board discussed the concern but determined that the installment plan is not adjustable. Collecting the loan payments from owners in August was handled in a deliberate manner to ensure proper funding for this project to secure all of the owner’s investment.
4. Financial Report
A. Financial Statement Review
a. CDARS Investments & Replacement Reserve Accounts
b. Email from CPA regarding Bank Balances & FDIC Coverage
C. CPA indicated that it is not uncommon for businesses to be above the FDIC limit for a short period of time.
D. Erik moves that we close the WaFed account and transfer the funds to the appropriate Foundation Accounts. Mary seconded the motion. Rich will send paperwork to close the WaFed Account.
B. Delinquency Update ; Four Accounts > 30 Days Past Due As of Oct. 20, 2009:
a. Two Accounts Assigned to Collection Attorney: #’s 1302 & 5301
b. Two Accounts Balances > 30 Days Past Due: #’s 2205 & 5106
5. Property Maintenance Report
A. Skylight Leaks with Temporary Cover – #5306 #6303 & #6306
B. Roof Maintenance – Maintco
C. Lighting Maintenance – Jones Lighting
· Jones Lighting has been contacted for the following issues:
a. Building 2 Flood Lights (Front & Back)
b. Building 2 Storage Room Lights
c. Building 2 Photo Cell
d. Building 3 Bad Fixture @ 7358
e. Building 3 Aluminum Post Light @ Mailbox
f. Building 4 Bad Fixtures @ 7268 & 7280
g. First Floor Patio Lights
D. Loose Step Four Steps Down from #15828 @ Building 5 – Tom Smith
· Completed by Tom Smith
E. Janitorial – Alta Building Services
F. Fallen Tree Limb Between Building #’s 2 & 3 – Condo Commercial
· Confirmed that this was taken away
G. Dryer Vent Cleaning Final Follow Up Notices – Vent Masters
· Follow up letter will go to the owners
a. No Entry Into 1 Unit due to contractor error (they will follow up): # 2105
b. No Entry Into 5 Units: #’s 1302 (Denied Entry 3X), 4303, 5301, 6103 & 6105
H. Storage Room Security- Rich will meet with a security company.
6. Committee Reports – Volunteers Needed!!!
A. Landscaping
· No Update
B. Rules Enforcement
· No Update
C. Community Website
· No Update
D. Design/Color Committee
· 6 boards, each building displayed. There will be 2 choices.
7. Old Business
A. Restoration Plan
a. Association Loan – Foundation Bank
· Asking if the default interest rate can be less than 18%. Pending the feedback from Foundation Bank, we are ready to sign the documents. Will be signed first.
b. Contractor Proposal – Eggert Strand Hunt Construction
· Ready to sign and has been for 10 days. Will be signed last.
c. Project Management & Reserve Study Proposal – Morrison Hershfield
· Telephone call with Skylur with Morrison Hershfield on the last element of the contract that the attorney recommended. We now have a final contract with them. Will be signed second.
d. Cable Upgrade – Subcontractor?
· No update
e. Electrical Outlets/Covers & Other Potential Change Orders?
· No update
f. Window Upgrade Options
· No update
g. Building Permits – City of Redmond
· We have permits in possession and they have been paid for.
h. Permit for Trail Use – King County Parks & Recreation Division
· We have permits in possession. We have added King County Parks as an additional insured.
i. Additional Insurance for Trail Use – CAU
j. Potential Rebate for Window Upgrade – ECOS/PSE
· Skylur with Morrison Hershfield is following up with this.
B. Annual Fire Alarm Inspection Scheduled for Nov. 14 – FPI
· Notice will be included with the notice for the owners meeting.
C. Parking Spot Number Installation Completed
· Reimbursement for 10 hrs x $35 = $350. Erik moved to approve. Kent seconded the motion.
Tabled Until After Restoration Project:
D. Review Signage in Common Area
E. Resident Manager Job Description
F. Trail Maintenance
G. Other?
8. New Business
A. Annual Non-Profit Corporation Report (Need Signature) – Secretary of State
· Signatures were collected at the board meeting
B. Parking Enforcement & Violation Forms
· Send a warning violation to the owner for space 10, 11, 3 & 16. CC the renter.
· Resident information update. Issue 3 visitor permits per unit, must be displayed in the window of any visitor space.
C. Roof Leak @ #6302 – Maintco
· Repaired
D. Review 2010 Budget Draft #1
E. Owners Informational Meeting Scheduled for November 5
· A letter will be sent to homeowners.
F. Insurance
· Are we adequately covered?
o Directors & Officers Liability and General Liability can be increased from $5M to $6M for $58 and $300 year, respectively. Mary makes a motion to approve this increase. Kent seconded the motion.
o Look into coverage for Ordinance or Law Coverage & Increased Cost of construction. $4Million is $2k a year additional per category.
G. Apparent Water Leak in front of Building 5 within the sprinkler system.
· Rich will take a look at this tonight to investigate
9. Set Date, Time, & Location of Next Meeting – December 8, 2009 6:30pm LWSD(Tentative) Dec 1 & Dec 15 are back up dates.
10. Adjourn – 8:40pm
