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MINUTES

BOARD MEMBERS PRESENT: President: Nancy Spero

Vice President: Morton Beebe

Treasurer: Barry Shiller

Secretary: Kathy Jewett

PROPERTY MANAGER: Adele Laurence

LAURENCE MANAGEMENT

6:30

1. CALL MEETING TO ORDER & ESTABLISH A QUORUM

President Nancy Spero called the meeting to order at 6:30 PM and noted that there was a quorum present. Nancy thanked Board member Faye Bernstein for her contribution to the Board and with regret accepted her resignation from the Board.

2. APPROVAL OF MINUTES OF PREVIUS MEETING

The minutes of the October 21, 2004 Board of Directors meeting were approved as submitted.

3. OPENING HOMEOWNERS’ INPUT

Catherine Chase requested that the Rules Committee consider adding an item prohibiting dogs from using patios for waste. The Board asked management to look into a plumbing problem she is having in her bathroom that her plumber told her was a building issue.

Shirley Anthony and Takako Mackay expressed their concerns about being mentioned by name in a group email. The Board requested that Barry Shiller’s email be included in the minutes.

4. BOARD NOMINEES

Marilyn Breen

Barbara Charlton

Ram Kumar

Patrick Streick

Nancy Spero invited the nominees to speak to the membership present. Ram Kumar was elected to the Board.

5. OLD BUSINESS

Morton Beebe and Barry Shiller have been attending bi-monthly meetings on the waterproofing project. Mort reported that he has been taking pictures of the progress and will put those images on Power Point for presentation to homeowners the post-mortem report is ready for the Board in January 2005.

Mort and Barry recently reviewed the garage ceiling/courtyard survey reports done by Ferrari Moe and RGA Engineering in 2002. Ferrari Moe had prepared a survey of the garage ceiling cracks and the areas of water seepage from the courtyard. Their recommendation is to fix the most egregious planters first and establish a plan to phase repairs over 10-15 years. A presentation will be made to homeowners as information becomes available.

6. TREASURER'S REPORT

According to the financial statement, as of October 31, 2004, the balance in the operating account was $233,112.63 and the balance in the reserve account was $2,528,292.

Treasurer Barry Shiller explained that the Draft Reserve Study is a work in progress. All Board Members and Finance Committee Members are invited to participate in a review of the Draft Reserve Study Report with Michael Helsing on December 16^th to work on the first draft of the reserve study. The 2005 reserve study will be presented to homeowners once it is completed. Anyone wishing to attend this working meeting is welcome.

Barry discussed the cost of the townhouse waterproofing project. The original contract was for $145,000 plus the change orders for dry rot and sliding doors which were added as a consequence of discovery.

Mort explained that working with architects and engineers provides professional expertise beneficial to longer lasting solutions. The old way of doing repairs resulted in recurrent leaks and dry rot. He added that the Association is on the right road with reserves and on addressing waterproofing issues and remedial repairs. He is very optimistic of the value of Telegraph Landing properties.

During the Budget process the Finance Committee and Management reviewed at all service contracts in an effort to reduce operating costs and save the association money.

Since the janitorial contract with Genesis Building Maintenance Services is one of the largest budget items, they looked at proposals from three janitorial companies to determine if changing janitorial service would save the Association money. In addition, they also met with Genesis to find ways to improve service and to look for areas where costs could be trimmed. After Genesis offered to trim $24,000 from their costs, Mort and Barry recommended that we table any dialogue about changing janitorial companies for 6 months to give Genesis an opportunity to perform as promised.

Mort pointed out that the front desk security staff and the maintenance staff are managed by two separate companies:

The maintenance staff are employees of Genesis Building Maintenance Services. Maureen Ahern of Genesis is the new maintenance manager overseeing the maintenance staff at Telegraph Landing.

The security staff are employees of Barton Security Services, recently purchased by Allied Security. Ron Cornelius of Barton/Allied Security is the manager overseeing the security staff at Telegraph Landing.

Mort & Barry also met with the management of Star Elevator Company to explore ways to improve service and save money on energy costs. This will require up-grading the equipment which will be included in the reserve study for future budgeting.

7. COMMITTEE REPORTS

HOUSE COMMITTEE

Nancy Spero complimented the House Committee on the lobby holiday decorations. Margaret Miller reminded everyone about the auction on December 3 to raise money for those in need. She showed the homeowners present some of the items that will be auctioned. Auction items will be on display in the Club Room on December 1 and 2. She asked that residents bring finger food to the auction as well as non perishable food for the food barrels located outside the Club Room doors. The food in the barrels will feed the homeless during the holidays.

There was a discussion about how to handle the controversy over the orchid arrangement in building 3. Margaret invited homeowners to be a part of the House Committee if interested in having input into the lobby decorations.

LANDSCAPE COMMITTEE

Monte Ferris reported on the progress of the committee’s work on the hi-rise roof gardens. The irrigation system has been installed and the plants have been arranged in a quadrant to facilitate irrigation.

8. NEW BUSINESS

The Board approved the Dynalectric proposal to install voltage meters on the electric panels in the garage to monitor any voltage spikes.

The Board approved Everest Waterproofing’s proposal to repair the expansion joints in the courtyard and replace broken or uplifting bricks as a courtyard maintenance project.

9. SET DATE OF NEXT MEETING & ADJOURNMENT

The next meeting will be Wednesday, January 19, 2005 at 6:30PM.

There being no further business to come before the Board, the meeting adjourned at 9:30 p.m.

Respectfully submitted by Laurence Management:

___________________________________________ ___________________________

Kathy Jewett, Board Secretary Date approved by the Board