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Willamette Towers

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Willamette Towers Board Meeting

Meeting Tuesday, March 24th, 2020, 5:30pm

Board Members: Lauren Dame, Mya Johns, Hal Dillon, Clyde Horn, Jesse Fittipaldi

BMC Personnel: Not in attendance

Owners: No Owners as meeting was done on line due to COVID-19 quarantine rules.

Call to order: 5:30 PM

Agenda Approval –

Unanimous approval

Organizational Meeting information:

Approved the January and Annual Meeting Minutes

President: Lauren Dame, Treasurer: Hal Dillon, Secretary: Clyde Horn, Members at large: Jesse Fittipaldi and Mya Johns.

Previous Meeting Minutes Approval:

Previous general meeting was the annual meeting and Minutes were approved.

Treasurer’s Report: for 2/1/2020 - 2/29/2020

Operating Funds (Trust Account) Summary:

Beginning Cash Balance: $7889

Ending Cash Balance: $9683

Total Operating Income:

MTD Actual: $20,219 YTD Actual: $39,847

Total Operating Expense:

MTD Actual: $31,430 YTD Actual: $66,502

NOTES:

a) Two units are past due; Reminder Statements were sent.

b) Not shown in this report: Our insurance premium was paid in February by credit card. Money was transferred from Reserves in early March to cover this insurance payment.

c) When he reviewed our accounts last Fall, the CPA noted that in 2018, $3351.25 was spent from our Operating Funds on Reserve items, and the Operating Funds were not repaid from the Reserves Account. The Board may choose to leave this amount ($3351.25) in Reserves or transfer it into Operating Funds, as it should have been in 2018. [After discussion, the Board decided that the amount should be transferred into the Operating Funds, and if it is not needed for Operating expenses this year, to allocate it to Reserves at the end of the year.]

Reserve Account (2/1/20-2/29/20)

Opening Balance: $72,290

Credits: $17,600 Debits: $0 Interest: $2.04

Closing Balance: $89,892

Move to Accept Treasurer’s report –

Clyde moved, Lauren 2nd – Unanimous approval

Committee Reports:

MMRC:

no updates - plumbing prices. Just came in now updating estimations. Hal, Lauren and Jesse will work on a proposal to submit to banks for line of credit construction loans. Also to be considered is how the loan payments will be paid by the owners: HOA increase, periodic special assessments, or ?

Lauren and Hal will investigate options.

Security & Technology (SecTechCom): None

BMC Report: None

Owner’s Forum: None

Old Business:

Fire Safety equipment upgrade.

Clyde moved and Jesse 2nded “Move to replace the smoke detectors which trigger balcony door closure only at this time. The klaxon+strobe system upgrade will take place later as needed by FD written directives.” – unanimous approval.

New Business:

COVID-19 General Building Guidelines discussed. Immediate action is to restrict elevator use to one person or family group at a time to maintain “Social Distancing” as recommended by the CDC.

Suggested that there be no delivery persons allowed access above the first floor.

HOW THIS WORKS:

Food or package delivery person uses call box to gain access and the resident meets them in the lobby. The delivery is placed on the bench and then the resident picks it up as the delivery person steps back. Suggest that no cash be used in transactions.

No visitors allowed except for family members and care-givers.

Hal will contact the City to see if we can get a hand washing station placed here.

Lauren will ask Phyllis if she wants to revive the Emergency Preparedness committee so more ideas for safety will be obtained.

Next Meeting

ON-LINE Meeting: Tuesday, April 14th at 5 PM.

Adjourned at 6:29 PM