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Brentwood of Palatine Condominium Board Meeting 8.12.2009. Treasurer’s Report Cleaning Labor Economic Conditions CPTED Certification update 30/30 Executive Session. Brentwood Liabilities. Cash Position as of 8/1/2009. Operational account = $27,758.86

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brentwood of palatine condominium board meeting 8 12 2009
Brentwood of Palatine Condominium Board Meeting 8.12.2009
  • Treasurer’s Report
  • Cleaning
  • Labor
  • Economic Conditions
  • CPTED Certification update
  • 30/30
  • Executive Session
cash position as of 8 1 2009
Cash Position as of 8/1/2009

Operational account = $27,758.86

Reserve Money Market = $20,680.53

Total = $58,466.39

labor requirements
Labor Requirements
  • Additional part time labor is needed.
  • Ad was placed – 120 responses received. 8 called, 4 interviewed, 1 stood out.
  • Votes will be made tonight.
  • Short term, primary duties will center on building interior walls and ceilings – drywall, paint.
  • Long term status completely dependant on financial resource availability.
economic reality
Economic Reality
  • Property values depressed
  • Loss of equity
  • Financing difficulties or impossibilities
  • Easy to simply “walk away”
  • Danger of mass exodus
  • Foreclosures
    • A costly circle
  • Condos or apartments?
    • Fundamental question for every Owner
    • Amending the Declaration
cpted
CPTED
  • Requirements for certification:
    • Landscaping (Compliant)
    • Lighting (Any needs will be defrayed to allow for budgeting)
    • Community Social (Will be last step prior to certification)
    • Secondary Unit locks / Unit security
      • All Unit windows / sliding doors are required to have secondary locking mechanisms installed.
      • Requirement deadline was July 31st. Association has been enlisted to install on several units.
      • Visual inspections by Board will be made in next few weeks, non-compliant unit owners will be notified.
      • Current realistic target for fulfilling all requirements – October -09.
accomplishments challenges
Accomplishments / Challenges
  • Last 30 Days
  • Reserve now over $20,000 (Richard)
  • Basement locks changed (Staff)
  • Continued cleaning hallway carpets (Contracted)
  • Agreed to additional staff to accelerate hallway recoveries. (Board)
  • Power washing of awnings / entrance concrete areas (Pat, Staff)
  • Trimmed / removed trees, chipped into rough mulch – likely finished for this year. (Rebecca, Pat)
  • Evicted an Owner for non-payment of assessments (not sure this is an accomplishment…)
  • Next 30 Days
  • Continue to drive open projects as funding allows (Pat, Staff)
  • Prioritize hallways for cleaning, patching, painting (Pat, staff)
  • Violation inspections / Notices (Pat, Rebecca, TBD) – carry over
  • Drive toward CPTED certification (All)
  • Continue to work on collections (Richard)
  • Develop 1st pass at 2010 budget
  • Begin preparations for winter…