June 2024 Updates

Unofficial Minutes by Community Member Elizabeth Chaponot with help from Justin Molineaux

Personal Note:

The new management system has a new website with a lot of information. One of the additions is the ability to include your name in a community directory.  If you can, take a minute to add yourself to the directory so we can keep communication up to date! https://portal.connectresident.com/#/community/directory

OPEN SESSION

• Discussion brought by board member about participating in National Night Out - first Tuesday of August

• Question from an owner: there was no meeting the prior month. Owner had questions about what goes on between meetings that moves projects forward.

  • Board member explains that there are always projects happening behind the scenes. The meetings serve as a time to make decisions and finalize the work that gets done in between meetings.

IV. CONSENT CALENDAR

A. APPROVAL OF MINUTES - APRIL 10, 2024

Minutes approved.

B. FINANCIAL STATEMENT - APRIL 2024

Board discusses whether we need to move the $43k that is in our reconstruction fund into our operating account, because having money spread across multiple accounts creates bottlenecks. 

After discussion it is the board's understanding that we have exhausted the reconstruction funds, but later considered that perhaps some projects that should have been paid from reconstruction funds were paid from opex funds which is why it appears that we have funds remaining.  At the end of the day, everything belongs to the association and is used to support GCL needs. 

Otherwise there was a discussion about invested dollars being marked as ‘equity’ when they are actually CDs and Treasuries of varying rates. Board members will work to make sure that FSR has proper access to our accounts to ensure these are properly reflected in board materials.

C. CIVIL CODE §5380 AND §5380 ELECTRONIC TRANSFER OF FUNDS GREATER THAN 

$10K

This is the new management company needing approval to transfer funds from reserves to operating accounts if needed for projects or repairs.

D. ELEVATOR INSPECTION - RATIFY

The inspection happened last month and is a mandatory requirement. Board ratified.

V. REPORTS

A. MANAGEMENT REPORT

B. WORK ORDER REPORT

Transition to the new company has delayed full reports but moving forward the board will receive both a management and work order report to prepare for meetings. Board members feel that this is a big step forward. The board has not had work-order reports before.

VI. UNFINISHED BUSINESS

A. GOVERNING DOCUMENT AMENDMENTS/POLICIES

Almost finished with CC&Rs. Finalization meeting with attorney in the next couple of weeks and then the new CC&Rs will be released for review by owners. Attorney will provide visibility to owners about what was changed to help the report be more digestible.

B. WATERPROOFING PROJECT

Architectural and structural drawings for GCL need to be sent to architects but we are close to finalizing this project so that management can move forward and create RFPs for the waterproofing project. Things are moving forward.

C. MONITORING WELLS

Two bids were received.  One is less than $40,000 and one that is above $100,000.  The cheaper vendor has worked with the city and has a high success rate. The board’s last step is to make sure that the full scope is covered but once the proposal is approved they will have work done within 90 days.

As soon as we can, board will also submit the application to be reimbursed for funds spent. 

VII. NEW BUSINESS

A. ENTRY SYSTEM

Board members have met with vendors to discuss modernizing our current entry system so that it is connected to cells. The final system (https://swiftlane.com/) being presented to board tonight has a lot of functionality. Managing the system will be $306 a month but that is cheaper than the three phone lines so the system will be much more flexible and ultimately cheaper.

Basically the system will allow both facial recognition and cell phone access, it will also have the capability to upgrade and include garage access. We could have tags for cars that would change the entry for the garage. The bid will also include the exit doors in the garage towards the elevators once we have made modifications to doors.

NOTE: None of this will solve an ongoing problem about people entering and leaving the property not waiting for the gate to close when they enter or exit.  This allows strangers to enter the garage. This last month we had this exact situation that led to break-ins.

Board wants to remind everyone that it is not impolite not to let someone in or let someone follow you. 

B. AT&T IP SERVICE

Discussion about whether we should change companies. We currently have 5 lines with AT&T and pay too much money. The new gate system will allow us to drop down to the two mandatory lines (elevator and fire department connection).

Our Management team has been able to push AT&T to get a $7000 credit for what was overpaid. AT&T contract is set to renew so the management company will stall that renewal until we have our new system installed for the gate. Then we will negotiate to see what a new contract would look like.

C. FFI RECOMMENDATION AND ANALYSIS

First Service Residential includes a service to independently review our finances and make investment recommendations. Board has the option to adopt/decline the use of the service, or can optionally meet with an FFI representative before voting to adopt/decline.

The board decided that a board member will meet with the FFI representative before the board votes to adopt/decline the service.

D. AMS ADDENDA

First Service Residential includes an “asset management service,” similar to a collections service. The board needs to decide whether to begin using this collections service from FSR, or continue with our existing service.

The board asked to review the contract with our existing collections service before voting whether to switch services.

VIII. NEXT BOARD MEETING

IX. ADJOURN

Next meeting is Wednesday July 10th.

Board moves to executive session at 7:00 PM