Skytrack Condominium Annual Owners’ Meeting Minutes – June 9, 2009
A quorum was achieved (60.75% present & by proxy) and the meeting began at 8:10 pm. The Board introduced themselves [Terra Chalberg, David Crofton, Steve Dembitzer (absent), Rose Firestein, Peter Levy, Katharine Mukherji, Matthew Pilkington], and the owners voted to waive the reading of last year’s minutes.
I. Accounting
The Condominium’s accountant, Mark Levitch, presented the Financial Report for the year ended December 31, 2008. The Condominium’s financials were found to be in order. The cash position had increased by about $10,000 from 2007, even with renovation costs in 2008 of about $50,000. The Condominium had raised approximately $75,000 in surplus during 2008, which explains the ability to pay for renovation costs and still increase the Condominium’s cash position.
The Condominium still has a $250,000 line of credit, at 1.5% over the prime rate, which is an inexpensive means of borrowing money in times of necessity, due to current low prime rates.
While the City’s water rates keep rising, the accountant noted that the water bill had dropped from $27,400 in 2007 to $14,600 for 2008. We are concerned the city has made a mistake and are aware that they may come back and charge more if they have discovered an error.
II. Managing Agent
Elia Malara went through a list of the activities that had occurred in 2008. The Condominium is currently re-laying parts of the concrete sidewalk as demanded by the City. Even though the sidewalks are relatively free of cracks and are scooter smooth compared to the trip fest of the concrete pavement on Dean Street between Smith and Boerum Place, the city has decided to demand repairs by threatening fines. During this work, the minute tree well outside 15 Bergen Street was increased in size and the tree roots shaved by City arborists.
The old boiler is being decommissioned, which requires an inspection from the city. After passing inspection the boiler will be removed for scrap steel. The boiler is beyond repair and the building is levied a fee for having a boiler even if it is defunct.
Some heating valves will be replaced this summer, and the heating system will be drained. Draining and refilling the system is an expense. The Condominium recommends Unit owners coordinate heating system repairs with the planned Condominium repairs. Please check with José for the draining dates. The Condominium Board also recommends (following recent leaks from broken pipes) that each unit install easily accessible shut off valves for the hot and cold water coming into that unit. Boerum Hill Neighborhood Organization has a site where local plumbers are recommended. To join the Boerum Hill Yahoo Group, and get access to archived lists of contractors and individual recommendation postings, go to Yahoo Groups, online, to find out how to join.
III. Maintenance
The entrance doors at 15 Bergen do not close smoothly. Two new door checks were ordered. Occasionally, the courtyards fill with water during heavy downpours. Ideas, such as adding water absorbing material, or a water catchment basin were discussed. An engineer will be hired to assess the possibilities in the near future. Michael Tedesco lobbied for the Condominium to pay for cleaning/checking each year of the storm water check valves that were installed in each basement apartment. The recent sewer work on Boerum Place revealed that the city’s pipes were 10” in diameter – not the claimed 18”. Another reason for storm water build up.
IV. Elections and Re-elections
Terra Chalberg was elected to replace Steve Bruner. Matt Pilkington, Peter Levy and Steve Dembitzer were re-elected, un-apposed.
V. Condominium Website
All residents are urged to register on the Condo’s website so that notices can be delivered in a convenience manner. Because of recent upgrades, re-registration may be required by previously registered residents. The registration button is in the lower right corner of the page. The website URL is https://skytrackcondo.com
Registered users can access notices, minutes, announcements, and documents like the By-Laws and Rules. Contact Info. for the Managing Company, Super, and Porter are also included.
There being no further business, the meeting was adjourned at 9:15 pm.