Board of Directors Meeting
Cambridge Townhomes
Wednesday, January 11, 2012 6:30PM - 8:30PM Meeting Location: Cabana
cambridgetownhomes.org
BZollars@morrismanagement.com
425-283-5858 ext 102
In Attendance:
President Rich Molitor; Treasurer Antolin Matsuda; Secretary Jan
Hemingway; Members at Large Joe Peterson; Anna Gray; Joe Aboubakr, Beth
Zollars, Morris Management
Absent & excused: Vice President Joe Gecas
Call Meeting to Order:
President Rich Molitor called the meeting to order at 6:34PM
Topic discussed out of agenda
order: Parking
Phase one of the parking plan was to
hire a security company to patrol the grounds.
Phase two will be towing, without prior notice, of vehicles that are
parked in handicapped parking without an approved placard or that are parked in
fire lanes. Fire lanes include the areas
in front of garages. Horizon Security
will be provided with a list of vehicles warned or cited in 2011 for other
parking violations. If parking
violations continue, these vehicles will also be towed. Horizon Security provided Beth with a list of
questions, which were discussed and answered.
20-Minute Homeowner
Forum/Questions/Concerns: A new homeowner was
present and asked how rules are enforced.
Approval of Minutes:
Secretary Jan Hemingway reports minutes of the December 14, meeting were
approved via email and have been posted on the website and in kiosks.
Treasurer's Report:
Treasurer Antolin Matsuda reports
Delinquencies represent 3.34% of annual budgeted revenue. Any figure below 3%
indicates excellent financial health.
Insurance Reserves are fully funded in accordance with the 2011 Budget.
Replacement funds are at budget.
Total Cash in various bank accounts: $1,056,088.82
Total Liabilities $16,600.38
2012 Budget Cash Carry Forward of
$163,531.00 is accurate. This is taking into account Operating account funds
less Liabilities plus Due-Between-Funds for a total of $195,621.00 actual cash
carry forward.
Committee Reports:
1. Landscaping: Joe Peterson reports quarterly walk-through will be at the end of
January. The committee will also meet
with Joel, Premier Landscaping, to discuss on-going trimming of maple trees and
repairs/upgrades to the irrigation system.
Joel has submitted an estimate of $9,000 for irrigation system work. The best time to do the work is February.
2. Social: Joe Aboubakr reports the quarterly
newsletter went out in December, discussing the new security patrol and tips
for weather-proofing your condo. There
was discussion about better utilization of the Cabana.
3. Rules Review: Anna Gray reports the rules review is complete and the rules have been
distributed to the rest of the Board.
Antolin moved to approve the rules, Anna seconded the motion. Motion passed on voice vote. Copies will be available at the Annual
meeting in February.
Prior Business:
1. Lease Addendum: Beth reports we have 41 leases.
Two homeowners still need to return their addendum to Beth.
2. Meet the Prez: Scheduled for Wednesday, January 25th, from 7 - 8PM at the Cabana.
3. Security Company Horizon Home Security:
Discussed out of agenda order.
See above
4. Association-owned Unit: Home Depot will deliver and install
a new microwave, refrigerator and stove.
Cost of the purchase is $1,355.
Rich talked to one real estate agent.
Anna will provide the names of two additional agents.
5. Satellite Dish installation: Patio railings are not an approved location for satellite
dishes. They aren't built to hold the
weight or withstand the force of windstorms.
Beth will contact the four current residents whose satellites will need
to be moved.
6. Annual Meeting: The meeting will be Wednesday, February 8th, 2012, at Northshore Senior
Center, 10201 E. Riverside Dr., at 6:30PM.
The agenda will include a report on 2011 business and election of
officers. If you are interested in
serving on the Board of Directors, notify Beth.
Information about the meeting will be mailed to homeowners and
residents.
New Business:
1. Signed transfer of funds slips to
move money from reserves to operations to pay a landscaping bill.
2. Joe Peterson moved to transfer
the $150 key refund balance to the general fund. Anna seconded and the motion passed on voice
vote.
3. Beth presented the Morris
Management contract for signatures. Per
the Washington State Condominium Act, the resale certificate fee is increased
to $275 from $150.
Manager's Report:
Beth has received both positive and negative feedback regarding the
security company. Nothing else of note
to report.
Set Date of Next Board of Directors
Meeting: February 8, 2012, at 6:30PM at Northshore Senior
Center, 10201 E. Riverside Drive.
The regular meeting was adjourned at
8:20PM.
Executive Session:
Executive session was adjourned at 8:35PM.