BOARD OF DIRECTORS MEETING

Management Report

Monday September 24, 2018  7:30PM 

2nd Floor Party Room

6:30PM – Closed Session (Held by Board in Management Office)

7:30PM – OWNER FORUM – 15 minutes, 2 minutes per person

The Board and Management will address feedback and questions from Unit Owners.

OPEN SESSION – Call to Order (following Life Safety Town Hall Meeting)

The meeting chair, expected to be Board President Michael Parrie, will call the meeting to order. Please be courteous – if applicable, the meeting chair may entertain audience questions if applicable to an agenda item. Speakers shall be recognized by the chair. Please do not interrupt speakers who have the floor.

Roll Call – Confirm Quorum

The meeting chair will confirm a quorum of Board Members are present. Board Members and representatives from Management will be introduced.

Committee Reports

Committee Chairs or others so designated will be invited to update the Board on business and activities.

Action Items – New Business

1. Closed Session Business

This agenda item is provided for any resolutions proposed resulting from Closed Session discussion.

2. Minutes – Board Meeting September 10, 2018

Attached to the report for Board Member review, are the proposed minutes from the Board of Directors Meeting held on Monday September 10, 2018, as submitted by Timothy Patricio, Property Manager.

A sample motion: “I move the Board of Directors approves the minutes from the Board Meeting held on Monday September 10, 2018.”

3. 55th Floor Loop Plumbing Project

Attached to the report for Board Member review, are the proposals for the 55th Floor Loop Plumbing Project. This is very similar to the loop project done a couple years ago in the lobby ceiling. Really, just different locations and logistics. For reference, the RFP devised for the project is provided as well.

Because this project is quite a bit smaller in overall scope (unlike the lobby project) we propose to manage it ourselves much like we do with the risers, with the lead being taken by our licensed plumber, Louie. This as opposed to the project being managed by a General Contractor. We estimate in house management saves 10-15% or so of the value overall.

The bids are as follows, with our suggested vendor for each phase in bold and italicized:

Plumbing

AMS Mechanical             $172,587

Fettes Love & Sieben     $169,750

FE Moran                         $190,850

Carpentry

DK Construction              $30,600

MPD                                 $24,700

Nikodem Decorating      $32,900

Insulation

Dettman                          $16,495

EHC Industries                 $19,640

WJ O’Neil                         $19,875

Electrical

City Service Electric        $11,600

Dunning Electric             $4979

RAM Electric                    $5775

TOTAL:                             $215,924

Due to the location and nature of the work, we also suggest a provision for unforeseen conditions and circumstances. About 15%, or roughly $32,500 would be smart for a project like this. Management would be comfortable with about $35,000. We believe there is always the possibility of plumbing and electrical unknowns in a project this size, and we also need funds for the light fixtures to be chosen by the Home Improvement Committee.

The anticipated expense of this project considered in the budget was $300,000.

A sample motion: “I move the Board of Directors approves the plan presented by Management for replacement of the 55th Floor crawlspace loop plumbing, with plumbing work as proposed by Fettes Love & Sieben estimated at $169,750, the carpentry work as proposed by MPD Construction at $24,700, the insulation work as proposed by Dettman Industries at $16,495, the electrical work as proposed by Dunning Electric at $4979, and with a provision of $35,000 for light fixtures (to be determined by the Home Improvement Committee and recommended to the Board at a future meeting) and unknown conditions and circumstances that may arise during the project, for an estimated project total of $250,924.”

4. Package Room Build Out

The purpose of this action item is to give the Board a detailed update on the status of the project, with an opportunity for discussion. We collected preliminary bids for the work, all of which are within the budget set by the Board. However, there are a number of variables which could impact cost.

Attached for Board Member review, the proposed estimates (as is) are as follows:

JLJ Contracting                              $97,815

MPD Construction                        $52,100

Zadro General Contracting          $89,500

The Board’s prior resolution on this project would allow for us to proceed when we are ready. And at present, no further action is necessary. This is just presented as an opportunity to discuss the status and direction we are presently looking at going.

5. Garage Condition Survey

Attached to the report for Board Member review, is the Garage Condition Survey, recently completed by our engineering firm Wiss Janney Elstner. The purpose of this action item is to discuss the results, determine whether Board Members have any questions for the engineer, and discuss the next steps.

ADJOURNMENT

There being no further business, the Board will consider adjourning the meeting.

A sample motion: “I move the Board of Directors adjourns the September 24, 2018 Board Meeting at ____PM.”

OWNER FORUM – 15 minutes, 2 minutes per person

The Board and Management will address feedback and questions from Unit Owners.

Next regular Board Meetings – Monday October 8th and October 22nd