LA GRANDE PROVENCE
CONDOMINIUM ASSOCIATION, INC.
BOARD OF DIRECTORS MEETING
May 14, 2014
Bob Cory called the meeting to order at 1:05pm.
Dave Luenzmann and Dave Yoder were present representing a quorum. Karen Hopkins was also present representing Preferred Management Services.
The minutes of the April 14, 2014 Board meeting were approved.
The Board is still negotiating a settlement via our attorneys with our former elevator company ThyssenKrupp . We are waiting to hear from our attorneys on the latest progress, but the Board feels that we are going in the right direction.
Guaranteed Assessments Program (GAP)
Through this program which follows and handles our collection efforts for the 3 condo owners that are in arrears, the Board has chosen to switch to different attorneys, Peyton Bolin, still within this program to continue with collection efforts. The owner of 1203, has gone into Chapter 7 Bankruptcy which will prevent us from collecting any of the accrued money that she owes us.
Between The Operating Account & the Reserve Account we have over $500,000. We are under insured by FDIC on $250,000 of this amount (all approximate amounts). We are looking into a product from Intra Coastal Bank (an Insured Cash Sweep program) that will insure the shortfall. This effort by the Board is to protect our assets in the unlikely event of this bank’s failure.
Bob Cory has been working very closely with our Austin Outdoor manager. Bob is trying to give them the opportunity to make the improvements needed at La Grande, however Bob has also contacted Corey Enterprises to discuss the much needed improvements and also get a bid from them on their services in case Austin Outdoor does not perform as Bob directed.
The NEW elevator door equipment has been ordered and is scheduled to be installed first in building 1. The dates for the work are 5/27/14 to 5/29/14 for the service elevator and 6/3/14 to 6/5/14 for the main elevator. We are trying to ensure that both elevators will be working over the weekend. This will cut down on out of service issues.
The garage cleaning project has been completed in both buildings. Any unclaimed bikes will be donated to the Rotary Club’s bicycle program for under privileged children.
The staff & Karen will be doing a walk-through of our buildings to ensure that all doors are painted the proper color. As a reminder, owners should not have any decorative items outside their doors. Nothing should extend out into the hallway. Karen will be contacting you to move these items. The Association will be fined by the fire marshal for any items in the hallway.
Bob Cory is preparing data about La Grande for the HDOA’s new marketing web site.
There being no further business to bring before the Board, the meeting adjourned at 2:20pm.
LCAM, La Grande Provence Condominium