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Willamette Towers

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Willamette Towers Condo Association Annual Meeting Minutes.

February 28th, 2017 7PM.

Called to order 7:06

1. Sign in, collection & certification of proxies.

2. Proof of meeting notice or waiver of notice.

3. Read 2016 meeting minutes –

waived by vote of owners present as hard copies were provided and are also available on the WT website.

4. President’s Report:

Projects funded and completed this year included:

  • Misc plumbing upgrades
  • Common area carpets
  • Ground floor paint and flooring redone
  • Common area lighting upgrade (6th floor done, the rest in 2017)
  • Roof over the walkway to the parking area replacement and painting
  • Door replacements (lobby, north stairwell 1/2/3, ADA paddle handles north and east doors)
  • Window cleaning,
  • 3rd Friday chat-ups (with thanks to Jean-Marie/Luther/Clyde),
  • Entry system upgrade,
  • Parking lot review by engineer- resurfacing required,
  • Parking lot cleaning initiated,
  • Careful follow up on compliance issues and Action Gram system,
  • Careful review of window policy, still working on this- hopefully vote in March,
  • Handrail in front of Mia Bella installed,
  • Storm water Piping – problem solved by City funded replacement.

Other items still under discussion:

Recycling issues – not enough participation so our volume of garbage has caused increase in costs. If continued or increased lack of participation occurs, we will be paying more per month on a regular basis,

North alleyway fence install may or may not decrease the use of the alley by vagrants and vandals,

Tagging – paint-over possibly by volunteers, Tom will supply paint and tools. If contracted out it will cost us several hundred dollars at least,

New bike rack will be installed shortly under the front overhang where security cameras can oversee any activity,

Tom will be painting the stairwells one/month depending on temperature,

Security DVR upgraded/replaced.

Thank yous to Tom and BMC for jobs well done.

ORGANIZATIONAL MEETING to be scheduled for mid March.

PLEASE ATTEND MEETINGS, JOIN COMMITTEES, & PARTICIPATE!

5. Financial/Treasurer’s Report:

2016 Budget Comparison and Cash Flow (spreadsheet #1)

Total income for 2016 was $351,345.82. This is $1,495.82 above the budgeted income of $349,850.

Total operating expense was $226,186.79. This is $13,763.21 below budgeted expenses of $239,950. Significant savings occurred in Administrative expenses, $6,528.04, and Maintenance, $8,162.92.

Utilities expenses were slightly above budget by $927.75.

The net operating balance was $125,159.03 versus the budgeted amount, $109,900.

$78,237 was transferred to our Reserve Funds.

In addition, $41,801.23 was used to cover a portion of the $93,301.23 Reserve Plan Maintenance Expenses. The balance of the Reserves Expenses was covered by a $51,500 transfer from Reserve Funds.

The Net Balance from operations was $5,120.80.

The opening cash balance for 2016 was $1,568.93. The closing cash balance was $2,932.71.

2016 Reserves Summary (spreadsheet #2)

Cash Flow

The opening balance was $97,577.11. Contributions from the operating budget were $78,237. Withdrawals included $51,500 transferred to the operating budget to cover maintenance expenses in our Reserve Plan and $120 for Morgan Stanley account fees. In addition, $27,763 was withdrawn to cover our Property/Liability Insurance premium. This same amount was repaid to the reserve funds. Income was $8.98. The closing balance was $124,203.09.

Reserve Plan Maintenance Expense

The total reserve maintenance expense was $93,301.23. The Reserve Plan originally included $149,232 to cover these expenses. Reductions were achieved by cost savings for the carpet replacement and the elimination of the east side building drain repairs expense that was covered by the City of Eugene.

2017 Budget (spreadsheet #3)

Most importantly, the 2017 budget does not include an increase in the HOA assessments. Budgeted total income and total operating expenses are basically unchanged from 2016. Individual expense items have been increased or reduced based on 2016 amounts, but the total expense amount is in line with 2016.

Please see the spreadsheets on the website or in Appendix A.

6. Committee Reports:

Architecture and Design:

The Architecture/Design Committee functions to providenrecommendations to the Board of Directors regarding projects that pertain to the interior and exterior appearance of our building. The following owners participated during 2016: Tina Behnke, Luther Greulich, Ken Guzowski, Giny Landgreen, Barry LaVoie, & Rick Lowen. The committee would like to thank Tom Weaverling, on-site staff, for his assistance in communicating with various contractors and providing valuable technical information on many projects. The committee was involved in several projects during 2016.

The biggest projects were the replacement of carpets on all the residential floors and office, and the replacement of the flooring in the main floor north hallway.

Other projects included painting on the main floor, replacement of lighting in the residential hallways (starting with the 6th floor in 2016 with completion in 2017), new blinds for windows in the office and replacing the floor numbering on residential floors.

Emergency Committee –

Members: Phyllis Fisher, Jean Kerns, Clyde Horn, Dan Solitz, Giny Landgreen : This committee met throughout the year. Emergency information is posted on the Willamette Towers website and there are hard copies available in the office. The committee plans to contact each resident personally to discuss preparedness (individual responsibility) and make sure that they have seen the information and can evacuate, if necessary, using the stairs.

Major Maintenance and Remodeling Committee-January 1 through December 31, 2016

Except for replacing the front doors including ADA compliant openers ($10,000), and the handrail in front of Mia Bella ($500), all the projects were plumbing related. After much agonizing investigative work it was determined that the problems with the storm water system from the parking structure and the rear planted areas were caused by the light pole at the northeast corner of 14th and Lincoln Streets that had penetrated our drain line. The City acknowledged their responsibility and a new line was run straight out from in front of Mia Bella at no cost to our HOA.

We had budgeted $30K to resolve this problem which was freed up for other necessary projects.

Ongoing plumbing work on our domestic water system included extending the new piping from the boiler room into the north hall ($32,500), installing 2 new riser valves in the ceiling of the north hall ($2,000), reworking some of the plumbing in the north hall to eliminate cross flow between the 02 and 03 bathrooms ($9,000) and planning for replacing the clogged plumbing lines in the commercial space rented by Mia Bella. This last project was completed and paid in early 2017.

We have many interesting projects coming up in the future as reflected in the Reserved Study.

The input of any and all interested parties at upcoming meetings would be greatly appreciated.

7. Elections of 2 new board members.

Jeff Ryder re-elected and Jeff Ackerman added

8. New Business:

Parking Structure renewal work is currently waiting for second bid. 1St bid was for ~$250,000 for grinding down and then resurfacing the upper level. Time to accomplish the work will be from 30-45 days. During that time the parking upper level will not be available for owners to park. Work to begin in ~ summer 2019.

9. Adjourn at 8:37 – Clyde Horn moved to adjourn, passed unanimously.