November 2022 Updates

Dear Residents of Green City Lofts,


In October, Scott Anderson and Elizabeth Chaponot, two homeowners who are not on the HOA board decided to collaborate to attend board meetings regularly and provide a summary of what is going on to residents so people could feel more connected and hopefully get involved in building and improving our community.


THESE UPDATES ARE NOT BOARD MINUTES.  They are our independent summary to provide some clarity on things for our members.  

November 9th Board Meeting Recap

Note: Every meeting starts with an open session where other owners are allowed to bring issues forward. 


Open Session Section for Community Members

I (Elizabeth) raised a question as a community member about the center gate system repairs… This gate has a broken speaker on the intercom and as of last week also has an issue with the fob system as it does not unlock. 


Chris from Willis stated that they will issue a work order.

General Open Session

Updates connected to Unfinished Business

We used BSM general contractor.  When we go through them, they farm the work out to a subcontractor which creates greater costs and slower communication channels. Board discussed the advantage of going directly to subcontractors to reduce costs and create greater efficiency.  Board approves as long as the subcontractor has necessary insurance.


Move to work with a direct contract to support progress on this ongoing project.


There is a software bug with the existing unit that is there.  We are expecting a second locker but currently the priority is to get the existing locker operating properly and board members are working with Amazon to troubleshoot the issues so we can get this going.


Board is working on refreshing CC&Rs.  The cost for that has already been paid which will allow us to refresh the document to reflect current needs.


Board members have reviewed the proposal from the landscape designer.  Board is working with the architect to ensure that they incorporate some of the suggestions from the survey that was sent out a couple months ago.  The goal is to try and implement things that have more limited maintenance needs and do not create extra costs for the HOA.  Focus is on aesthetic gathering spaces and other quiet spaces to improve the quality of life and general beauty of the complex.


Bids are being collected for this project.


Bids are being collected for this project.  Trying to collect multiple bids for this project to make sure we do not overpay on this.  Currently bids are varied in scope and price so this project will require a major review of each bid.


Board is seeking a contractor that can handle this project.  It is a safety issue and will eventually involve having owners and tenants give the chosen contractor access to units to clean out vents.


BSM has passed on this project and we are currently looking for a different vendor.


Board is going to try and treat this as an odd job and not involve expensive contractors on this repair.

NEW BUSINESS

Architectural Committee

The board is adding community members to help the board and provide expertise in the field to support the review of architectural applications.


GCL EV Charging Update

It has been a year since the implementation of the charging station.  So we have a year of data.  

It has become clear that some people are staying in space long after their vehicle has finished charging.  As we should have more electric cars moving forward, the misuse of the spaces is a concern.  The parking committee wants to work on reviewing the rules for the charging stations to find a solution to long term stays. Possible solutions could include a parking fee.  


Reserve Investment

Board member has reviewed options to get the best return on a portion of our reserve accounts.  Currently we are hopeful to be able to lock in a 4.45% rate on US Treasury Bonds (rate as of November 9 and rates fluctuate daily).  This is a safe investment that allows us to make money on our savings without the risk of a volatile stock market.


2023 Reserve Study

The board voted to approve the reserve study.


2023 Association Budget

There was an extra meeting at the end of October to go over budget figures.  This was a really long meeting and it would have been difficult to provide proper minutes for this.  The takeaway for me at this meeting was that the board worked diligently to try and make sure that we limit costs.  Our utility bills are very high and it is clear there will be opportunities in the future to continue to find ways to be more sustainable. 


After review of the numbers at the previous meeting, the board voted to limit average increase in dues to not go beyond current inflation rates between 8 and 9% (increases differ based on unit size so the target is an average across all units)

November 23rd Board Meeting Recap

Super short meeting. Budget was approved unanimously on November 23rd during the virtual meeting.  Members agreed to review the budget twice during the year to make sure everything was still on track, to allow for learning in real time, and as well as time to course correct using non essential expenses if needed to stay in budget.