Willamette Towers

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Willamette Towers Organizational Board Meeting

Meeting TUESDAY, March 29th, 2022, 4:30pm via ZOOM

Board Members: Hal Dillon, Clyde Horn, Jesse Fittipaldi, Cody York

BMC Personnel: Diane Sollinger, Dave Saraceno

Owners: Bill, Barb & Richard Bomball, Giny Landgreen, Rick Lowen, Linda Seymour, Tom Ferrer

Call to order:

5:03 PM

Selection of Officers:

President: Clyde Horn

Secretary: Cody York

Treasurer: Hal Dillon

Member at Large: Jesse Fittipaldi, David Igl (absent)

Adjourned at 5:05 PM

WILLAMETTE TOWERS BOARD MEETING

Call to Order:

5:06 PM

Agenda Approval –

Unanimous approval

Previous Meeting Minutes Approval:

Hal Moved, Jesse 2nd - Unanimous approval.

Treasurer’s Report:

Month ending February 28, 2022

Operating Account Summary

Beginning Cash Balance [02/01/2022] $53,431

Ending Cash Balance [02/28/2022] $56,094

Budget Comparison

Month-to-Date Actual

Total Operating Income $20,667

Total Operating Expense ($33,301)

Year-to-Date Actual

Total Operating Income $40,671

Total Operating Expense ($47,955)Notes: Large expenditures:

Property insurance: $16,510

Gate maintenance: $1,790 (final payment for recent entry gate repair)

Reserve Account Summary

Opening Balance [02/01/2022] $404,266

Contributions $3,232

Withdrawals $0

Interest $3

Closing Balance [02/28/2022] $407,501

Notes:

Primary Reserve balance: $188,424

Plumbing Reserve balance: $219,074

Committee Reports:

MMRC:

Plumbing plans and permits all ready, special consultant required by City lined up.

Safety:

Discussed fence proposal and projected costs for current design – back to committee for more cost-cutting.

Green:

Discussed Community Space, indoor and outdoor possibilities.

Mentioned that they had one preliminary estimate for solar addition to roof when it is re-covered in 5 yrs or so.

BMC:

Garbage can replacement for East side will cost $550. Clyde moved to buy
and install the can Jesse2nd – unanimous

03 Plumbing stack question – to MMRC

Asphalt resurface at North end of building. - Jesse and Clyde will look it over for next meeting decision.

New Business:

Confirm Board Officers – done.

Late fee waiver request – granted

Need Officer to sign taxes to send in - will be in the Office with Dave.

Old Business:

Dish wants to visit Board meeting in April [Willamesh too]

1309 reimbursement request – A list of agreed to work needs to be submitted by them with $ for each

1307 lease offer – will be reviewed at Admin meeting below.

Owner’s Forum:

What do you mean Air BnB’s are now OK? - Following Oregon Condo Law and the current Oregon Health Authority COVID rules, we have eased our COVID restrictions to the State-mandated amount of 30 days minimum to avoid being “hotel like” and thus disallowed.

Without a change to our Bylaws, we must abide by that State definition.

A Yes vote of 75% of owners is required to change the minimum stay definition of “hotel like.”

Next Meetings:

Administrative Meeting Tuesday, 4-5-22 after the 4:30 – 5:30 MMRC meeting via Zoom.

Regular Meeting Tuesday, 4-26-22 5:00 PM

Adjourned at 5:54 PM

ADMINISTRATIVE MEETING:

Tuesday, 4-5-22 5:00 PM

Board Members: Hal Dillon, Clyde Horn, Jesse Fittipaldi, Cody York

BMC Personnel: Diane Sollinger, Dave Saraceno

Owners:

1307 Lease Discussion/Counteroffer/Refusal –

Diane will write up a draft version of our terms as discussed for our approval before sending it to prospective lessee.