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Willamette Towers

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Willamette Towers HOA Board of Directors General Meeting

Tuesday, July 17th, 2018, 4:00pm

Board Members: Lauren Dame, Rick Lowen, Jean Kern, Clyde Horn, Jesse Fittipaldi

BMC Personnel: Diane Sollinger, Tom Weaverling

Owners: Christie Cooper, Giny Landgreen, Billy Schwartz, Phyllis Fisher, Paula Rodgers, Barb Bomball, Luther Greulich

Agenda for meeting approved unanimously.

Minutes from June meeting approved with corrections unanimously.

Treasurer -

Operating Funds

June opening balance $20,743.90 - closing balance $5,096.76

Monthly income $29,943.18 YTD total income $180,127.17 - in budget!

Monthly expenses MTD Actual $16,775.01 (over budget) YTD Actual $105,986.439 (within budget parameters)

No significant past due balances

No funds were transferred to reserves in June, final plumbing project payment paid in June.

Reserves

June opening Balance $162,723.17

Withdrawals: $14,000 [to pay off plumbing project] Interest: $8.19

June closing balance: $148,731.36

Reserve expenses paid in June: $32,000.00 for plumbing project + $8,750.00 for engineering docs for garage project.

Committee Reports -

MMRRC:

Final engineering RFP documents due next week. Documents will be reviewed by the Committee and forwarded to the Board for approval at August meeting.

RFP will then go out to bid from contractors as planned. Work to be done in 2019.

BMC Report -

Bylaw change vote—18 owners still have not responded. Not enough ballots have been received yet to have a valid vote.

Window washing: scheduled to start this week and will take about 2 weeks to complete.

Exterior walk around inspection:
Diane will be doing an external walk around to create a list of items to work on to improve the property - date is Friday July 27 starting at 1:30PM. This will be sent to all owners to solicit participation.

Commercial space lease renewal:
New terms offered - either a 1-year lease at 2% increase or a 2-year lease with 1st year current amount and 2nd year +2%. Also to include placement of blinds in front windows {~$250] to improve street view of building and inspection of space and contents.

Laundry Room Contract verbiage reviewed and changes requested by the board. Diane will take these to the CoinOp folks for their acceptance then contract can be signed for 7-year term.

Owner’s Forum -

Billy Schwartz - requests that the late fees charges be removed from his account. He was out of the country and didn’t realize that the changes he made with his bank were incorrect. Clyde moved that his fees be waived. Jessie seconded - unanimous.

1103 water filter purchases requested to be reimbursed for their purchase. Jean moved and Clyde seconded that they be reimbursed for the two filters obtained and installed during the plumbing project only. No further reimbursements will be granted -unanimous.

Old Business

New Safety/Technology committee will be Chaired by Clyde for now. They will publish a date and time to meet with interested parties to gather input and solicit members.

New Business -

Newsletter - will be coordinated by Jean Kern. Solicitation of ideas and material to include in the Quarterly newsletters will be deposited in an envelope on the bulletin board in the mail area. Jean will edit as needed. Stressed that this is a newsletter for all residents and not just for owners so is not an HOA-controlled/sourced document.

Next meeting of the board will be a REGULAR Meeting

Tuesday, August 28th 4:00 P.M.

Adjourned at 5:11 PM.