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Willamette Towers Board Meeting

January 28, 2025 @ 5:00 PM

ATTENDEES:

Board members (in person): Clyde Horn, Hal Dillon, Alex Howe
Board members (via Zoom): Jesse Fittipaldi

BMC Personnel (in person): Diane Sollinger
BMC Personnel (via Zoom): Dave Saraceno

Owners (in person): None
Owners (via Zoom): Don Peters, Rick Lowen, Tom Ferrer, Richard Bomball

Call to order: 5:04 PM

Motion to approve today’s agenda: Clyde; 2nd: Hal - Unanimous

Motion to approve minutes from 10-29-2024: Clyde; 2nd: Jesse - Unanimous

Treasurer’s Report: Month ending December 31, 2024

Operating Account Summary (aka Trust or Checking account)

Beginning Cash Balance 12/01/2024] $30,832; prev: $29,747
Ending Cash Balance [12/31/2024] $36,296; prev: $30,832

Budget–Comparative

Month-to-Date Details

BUDGETED Total Operating Income: $22,793; prev: $22,793
ACTUAL Total Operating Income: $23,069; prev: $24,242

ACTUAL Total Operating Expense: ($21,408) prev: ($16,906)
BUDGETED Total Operating Expense: ($22,143) prev: ($22,143)

Year-to-Date Details

BUDGETED Total Operating Income: $273,519 prev: $250,726
ACTUAL Total Operating Income: $277,585 prev: $254,516

ACTUAL Total Operating Expense: ($336,527) prev: ($315,119)
BUDGETED Total Operating Expense: ($273,519) prev: ($251,376)

Notable Expenditures:

$1,530 to Overhead Door Co of Eugene-Springfield for Exit Loops and Detectors
$1,525 to Omlid & Swinney Fire Protection & Security Inc for annual fire system/extinguisher inspection
$324 for monthly landscape contract

Reserve Account Summary

Opening Balance [12/01/2024] $298,001 prev: $277,529

Credits this Period $19,743 prev: $19,743
Debits this Period ($0) prev: ($0)

Change in Value this Period $728 prev: $729

Closing Balance [12/31/2024] $318,423 prev: $298,001

Notes about Reserves:

Primary Reserve balance: $302,628 prev: $288,635
Plumbing Reserve balance: $15,845 prev: $8,637

End of Treasurer’s Report

Motion to approve treasurer’s report: Clyde; 2nd: Hal - Unanimous

Owner’s Forum:

Don Peters presented (via Zoom) why he thinks that he and his wife are not responsible for the damage done to the entry gate last fall by their car.

Committee Reports:

Green Committee:

We will replace the two Elm trees that we removed recently with European Horn Beams. We are working with Friends of Trees to accomplish this.

We voted to donate $200 to Friends of Trees.

New business:

We voted to accept Otis Elevator’s proposed contract for the next five years.
Clyde moved; 2nd: Jesse - Unanimous

We voted to waive the late fee for HOA dues.

We will remove the slabs between Lincoln St. curb and where the two new Horn Beam trees will be planted.

We discussed a resident’s request to install a ventless laundry machine.

We discussed the drone flying machine that seemed to be looking into units at the WT.

The HOA Annual Meeting:

Will be on 02/26/2025 at 6:00 PM (in person and via Zoom).