You should have received your Special Assessment coupon book in today's mail. This is the Special Assessment that was approved at the election held on April 14, 2012 to pay for the paving of the final layer of asphalt paving on our roadways.
Your first payment is due on June 1, 2012 and a late fee is added if it is not received by the 10th. You may make your payments in up to six separate installments, with the final payment being due on Nov. 1, 2012. If you would prefer, you may also make your payments earlier by paying some or all of the installments in advance. To do so, just include a single coupon with your check and indicate upon the coupon the check number and the total amount it is made out for.
The Board of Directors anticipates that the paving will be finished sometime between August 15th and November 15th of this year. We will post more paving information on this blog as it becomes available.
Showing posts with label assessment. Show all posts
Showing posts with label assessment. Show all posts
Saturday, May 5, 2012
Saturday, April 14, 2012
Final Paving Special Assessment Election Results
The Special Assessment to complete the final paving was approved by 74.97% of the members in value, with 119 ballots cast in favor and 4 ballots opposed. For the Special Assessment to be approved it had to receive approval from more than two-thirds (66.67%) of the members in value.
Below is the spreadsheet showing the number of YES and NO ballots cast and how the "percent value of YES ballots" was calculated (click on image to enlarge it). A payment coupon booklet will be mailed to you describing the amount and due dates of each payment. The first payment will probably be due June 1st, since it is unlikely that we can process the printing and mailing of the payment books in time for a May 1st due date. More information will be posted here as soon as it becomes available.
Below is the spreadsheet showing the number of YES and NO ballots cast and how the "percent value of YES ballots" was calculated (click on image to enlarge it). A payment coupon booklet will be mailed to you describing the amount and due dates of each payment. The first payment will probably be due June 1st, since it is unlikely that we can process the printing and mailing of the payment books in time for a May 1st due date. More information will be posted here as soon as it becomes available.
Sunday, March 18, 2012
Special Assessment Election Scheduled for April 14th
At their Feb. 22, 2012 meeting, the Board of Directors of the Manors at Central Park Condominium Association voted to conduct a second attempt to gain approval for a Special Assessment to finish the asphalt paving on our roadways.
Co-owners should have by now received an envelope in the mail that includes the Special Assessment meeting notice and a blank General Proxy form.
As explained in this meeting notice letter, the Board has made some changes in response to some of the constructive criticism offered following the failure of the Special Assessment election at our annual meeting in January. One of those changes is to make it easier for all to participate in the election.
(54) of the (117) co-owners of completed units did not participate in the last Special Assessment election because they failed to attend and did not submit a completed General Proxy.
The Board expects that most, if not all, of the (117) co-owners should be able to participate in this Special Assessment meeting and election, since it will be held on-site and on a Saturday morning.
Please discuss this meeting with all of your neighbors and encourage them to either attend in person or give your their General Proxy so that you can cast their vote for them. The Board feels that it is vitally important that we get a true reading of the total membership's opinion on this matter.
For those who claimed back in January that our roadways looked fine to them, I offer this photographic evidence to the contrary.
Co-owners should have by now received an envelope in the mail that includes the Special Assessment meeting notice and a blank General Proxy form.
As explained in this meeting notice letter, the Board has made some changes in response to some of the constructive criticism offered following the failure of the Special Assessment election at our annual meeting in January. One of those changes is to make it easier for all to participate in the election.
(54) of the (117) co-owners of completed units did not participate in the last Special Assessment election because they failed to attend and did not submit a completed General Proxy.
The Board expects that most, if not all, of the (117) co-owners should be able to participate in this Special Assessment meeting and election, since it will be held on-site and on a Saturday morning.
Please discuss this meeting with all of your neighbors and encourage them to either attend in person or give your their General Proxy so that you can cast their vote for them. The Board feels that it is vitally important that we get a true reading of the total membership's opinion on this matter.
For those who claimed back in January that our roadways looked fine to them, I offer this photographic evidence to the contrary.
Saturday, February 4, 2012
Minutes of the Annual Meeting held on Jan. 18, 2012
Click here to read the unapproved minutes of the 2012 Annual Meeting.
Wednesday, January 18, 2012
2012 Annual Meeting Election Results
(Special Assessment Election Results - click to enlarge)
The Special Assessment for the asphalt paving project failed to receive approval. It only received (93) "Yes" votes representing 58.75% of value, which is short of the 66.67% of value "Yes" votes needed to pass it. It would have passed had it received another 13 "Yes" votes.
Control of the Association was transitioned to the co-owners at this meeting when Mike Grobbel (Unit 85), Larry Cybulski (Unit 69) and Bhartan Amin (Unit 33) were elected to the Board of Directors for one year terms. They will meet within the next 10 days to organize and elect officers.
The Board of Directors wishes to thank the co-owners of the 66 Units who took the time and effort to participate in the 2012 Annual Meeting by either attending in person or by submitting their signed General Proxy. However, those 66 Units represent only 56% of the 117 completed Units here in the Manors. Several of the co-owners at the Annual Meeting expressed their frustration with having 51 neighbors who can't even take the time to fill out a General Proxy. The new Board of Directors will have to address the need for increased co-owner participation in our future elections.
Wednesday, December 21, 2011
Final Paving Special Assessment Fact Sheet
The mailing you received today from Kramer-Triad announcing the 2012 Annual Meeting also included a one-page fact sheet about the proposed Final Paving Special Assessment that will be voted upon at that meeting. I'm reproducing the contents of the fact sheet below so that it is also available on this blog.
I would personally like to add one more reason for approving the proposed Final Paving Special Assessment now rather than later and that can be found by reading this post.
If you have any questions about the proposed Special Assessment, please contact me using the phone number or e-mail address shown in the right sidebar.
At the 2012 Annual Meeting, the current Board of Directors will be asking members of the Manors at Central Park Condominium Association to approve a Special Assessment for the purposes ofa) Repairing numerous sections of cracked concrete curbingb) Paving the final asphalt layer on the remainder of our streets and private access drives.A Special Assessment requires the approval of more than 2/3rds of all "members in value" (as opposed to "members in number"), since it is levied on the basis of the percent of value assigned to each Unit. Per the Amended Master Deed, owners of Units 1-14 have each been assigned 0.17422 percent of value and owners of Units 16-167 (including the Carpenters Pension Trust Fund, which owns 47 incomplete units) each have 0.64185 percent of value (owners of all Units each have a vote that is worth 1/166 = 0.60241 percent when voting by number).Shelby Township had obtained a letter of credit in 2004 from Sable Realty Ventures to be used in case the company failed to install the final layer of asphalt paving. However, as previously explained, that letter of credit is no longer valid. Attorneys for the Carpenters Pension Trust Fund maintain that they are not required to honor the legal agreement that Sable Realty Ventures made with the Township to provide the final paving at a later date. Therefore, the entire cost of the final paving will have to be paid by the owners of the complete and incomplete Units that comprise the Manors at Central Park Condominiums.Pending the receipt of competitive bids, the Board estimates that the final paving project will cost about $83,700 and therefore, the Special Assessment levy will be about $145 ($83,700 x 0.0017422) for each of Units 1-14 and about $540 ($83,700 x 0.0064185) for each of Units 16-167. The Carpenters Pension Trust Fund owns (47) incomplete Units and they will also pay the Special Assessment amount for each of their Units.The current Board of Directors recommends a "yes" vote on the Special Assessment for the following reasons:a) The final paving is a capital improvement in excess of $5,000 and it is an addition to the common elements that must eventually be completed. Therefore the Bylaws stipulate that it be funded via a Special Assessment instead of through the replacement reserve account or the annual budget.b) The exposed base layer of asphalt is already seven years old and was not designed to stand up to weather and traffic for that length of time; further delays could necessitate costly repairs that must be made before applying the final asphalt layer.c) The cost of asphalt paving has more than doubled since 2004; further delays will likely result in a higher cost to complete the final paving project.If approved, the curb repairs and final layer of asphalt paving will be completed before the end of 2012.
I would personally like to add one more reason for approving the proposed Final Paving Special Assessment now rather than later and that can be found by reading this post.
If you have any questions about the proposed Special Assessment, please contact me using the phone number or e-mail address shown in the right sidebar.
Sunday, December 18, 2011
Carpenters Pension Trust Fund (CPTF)
The "Carpenters Pension Trust Fund - Detroit & Vicinity"
(CPTF) acquired ownership of 63 incomplete
units at the Manors at Central Park Condominiums from "Sable
Realty Ventures - Shelby I Limited Partnership" in August of 2007. Sixteen of those
incomplete units were already under construction and the CPTF
hired Lombardo Homes to finish and sell them (those were in addition to the incomplete Units 1-14 along North Central Park that Lombardo Homes bought directly from Sable Realty Ventures in May of 2009 and upon which they subsequently built thirteen detached condos).
As of December 2011, the CPTF stll owns 47 incomplete units and has no plans to begin construction on any of them in the forseeable future. The CPTF also controls two of the three seats on the Board of Directors of the Manors at Central Park Condominium Association. Full control of the Board has not yet transitioned to the co-owners and the third seat has been held by a duy-elected co-owner of a completed unit since January 2008.
In accordance with Federal Law, the CPTF employs a Qualified Pension Assets Manager (QPAM) to manage their investments for them, including the 47 incomplete units at the Manors at Central Park Condominiums as well as the operation of the Manors at Central Park Condominium Association. Titanium Real Estate Advisors of Chicago, IL has been the QPAM for the CPTF since August 2010 (prior to that Fifth Third Bank had been their QPAM).
Once full control of the Board is transitioned to the co-owners (planned to occur at the 2012 Annual Meeting on Jan. 18, 2012), Titanium will no longer be involved in the operation of the Manors at Central Park Condominium Association. However, Titanium and the CPTF will still remain responsible for maintaining the appearance of their incomplete units and are also responsible for paying any Special Assessments levied against their units for the completion of unfinished site improvements such as the final layer of asphalt pavement on our streets.
At the beginning of its 2007 plan year, the CPTF was 67% funded [see pg. 3 of this document], meaning that the value of its assets ($1.08 billion) were worth about two-thirds the present value of all accrued benefits being promised to the pension plan participants and beneficiaries ($1.61 billion). During the 2008 plan year, its funding fell below the Pension Protection Act's 65% "critical" threshold, placing it in the "red" zone and initiating the creation of a rehabilitation plan to bring it up to the 80% funded level ("green" zone) by the 2019 plan year [see pp. 4-6 of this document].
In a September 2009 report, Moody's Corporation analyzed the funding levels of the 108 largest union pension plans in the United States, which included the CPTF. A list of those pension plans and their funding percentage is reproduced here. Their report ranked the CPTF in 104th place, identifying it as being only 41.4% funded at that time.
In 2010, the CPTF was again assessed as "critical" and placed in the "red" zone [see pg. 1 of this document].
The CPTF is a multiemployer, defined benefit pension plan that is safeguarded by the Pension Benefit Guarantee Corporation (PBCG) under their Multiemployer Insurance Program. The PBCG is a Government Sponsored Enterprise, similar to Fannie Mae and Freddie Mac in that it was created by the US Congress and it carries the implicit financial backing of the US Government.
If the financial status of the CPTF should deteriorate to the point of insolvency, the PBGC will step in and mandate that they reduce their pension benefit payments to a level that is supportable by the current value of its assets. The PBGC also has the authority to provide financial assistance to the insolvent pension plan and to also exercise operating authority over the plan until all loans are repaid.
In the event that the CPTF should become insolvent, more than likely the PBGC would then have the final say on all decisions regarding the CPTF's expenditures at the Manors at Central Park, including the payment of Special Assessments.
As of December 2011, the CPTF stll owns 47 incomplete units and has no plans to begin construction on any of them in the forseeable future. The CPTF also controls two of the three seats on the Board of Directors of the Manors at Central Park Condominium Association. Full control of the Board has not yet transitioned to the co-owners and the third seat has been held by a duy-elected co-owner of a completed unit since January 2008.
In accordance with Federal Law, the CPTF employs a Qualified Pension Assets Manager (QPAM) to manage their investments for them, including the 47 incomplete units at the Manors at Central Park Condominiums as well as the operation of the Manors at Central Park Condominium Association. Titanium Real Estate Advisors of Chicago, IL has been the QPAM for the CPTF since August 2010 (prior to that Fifth Third Bank had been their QPAM).
Once full control of the Board is transitioned to the co-owners (planned to occur at the 2012 Annual Meeting on Jan. 18, 2012), Titanium will no longer be involved in the operation of the Manors at Central Park Condominium Association. However, Titanium and the CPTF will still remain responsible for maintaining the appearance of their incomplete units and are also responsible for paying any Special Assessments levied against their units for the completion of unfinished site improvements such as the final layer of asphalt pavement on our streets.
At the beginning of its 2007 plan year, the CPTF was 67% funded [see pg. 3 of this document], meaning that the value of its assets ($1.08 billion) were worth about two-thirds the present value of all accrued benefits being promised to the pension plan participants and beneficiaries ($1.61 billion). During the 2008 plan year, its funding fell below the Pension Protection Act's 65% "critical" threshold, placing it in the "red" zone and initiating the creation of a rehabilitation plan to bring it up to the 80% funded level ("green" zone) by the 2019 plan year [see pp. 4-6 of this document].
In a September 2009 report, Moody's Corporation analyzed the funding levels of the 108 largest union pension plans in the United States, which included the CPTF. A list of those pension plans and their funding percentage is reproduced here. Their report ranked the CPTF in 104th place, identifying it as being only 41.4% funded at that time.
In 2010, the CPTF was again assessed as "critical" and placed in the "red" zone [see pg. 1 of this document].
The CPTF is a multiemployer, defined benefit pension plan that is safeguarded by the Pension Benefit Guarantee Corporation (PBCG) under their Multiemployer Insurance Program. The PBCG is a Government Sponsored Enterprise, similar to Fannie Mae and Freddie Mac in that it was created by the US Congress and it carries the implicit financial backing of the US Government.
If the financial status of the CPTF should deteriorate to the point of insolvency, the PBGC will step in and mandate that they reduce their pension benefit payments to a level that is supportable by the current value of its assets. The PBGC also has the authority to provide financial assistance to the insolvent pension plan and to also exercise operating authority over the plan until all loans are repaid.
In the event that the CPTF should become insolvent, more than likely the PBGC would then have the final say on all decisions regarding the CPTF's expenditures at the Manors at Central Park, including the payment of Special Assessments.
Monday, November 21, 2011
Nov. 2011 Newsletter
Message from your Board Member
2012 Annual Meeting
Our 2012 Annual Meeting is tentatively scheduled for Wednesday evening, Jan. 18, 2012 at the Shelby Twp. municipal building [this date has since been confirmed]. There will be two important elections held that evening. One will be to approve a final paving Special Assessment and another will be held to elect three co-owners to the Board of Directors.
During the meeting, the current Board of Directors will be asking Association members to approve a Special Assessment for the purpose of repairing cracked curbs and to pave the final asphalt layer on the remainder of our roads and private access drives. A Special Assessment requires the approval of more than 2/3rds of all "members in value" (as opposed to "members in number"), since it is levied on the basis of the percent of value assigned to each Unit. Per the Amended Master Deed, owners of Units 1-14 have each been assigned 0.17422 percent of value and owners of Units 16-167 each have 0.64185 percent of value (owners of all Units each have a vote that is worth 1/166 = 0.60241 percent when voting by number).
Pending the receipt of competitive bids, the current Board estimates that the final paving project will cost about $83,700 and that the Special Assessment levy will be about $145 for each of Units 1-14 and about $540 for each of Units 16-166. The Carpenters Pension Trust Fund owns (47) incomplete Units and they will also pay the Special Assessment amount for each of their Units.
The estimated Special Assessment levy amount is considerably higher than originally planned. That's because the Shelby Township Attorney informed me on Oct. 28, 2011 via this letter that the $29,600 Letter of Credit issued on Nov. 17, 2004 by the Greco Title Co. on behalf of "Sable Realty Ventures- Shelby I LP" and held by the Township to guarantee the final paving is not being honored by the title company that recently purchased the assets of the Greco Title Co.
The current Board of Directors recommends a "yes" vote on the Special Assessment. If approved, the curb repairs and final layer of asphalt paving will be completed before the end of 2012.
The 2012 Annual Meeting will also be the Transition Meeting at which time the Carpenters Pension Trust Fund will transfer control of the Board of Directors over to the co-owners. Therefore, we will be electing three co-owners to the Board at this meeting.
If nominated, I intend to run for another term on the Board of Directors. Please give some serious thought about who else you’d like to see nominated for election to the Board of Directors and discuss it with your neighbors. I know that we have many co-owners who are capable of serving on the Board and the more nominees we have, the stronger the new Board will be. If you have any questions about what is expected of a Board member, please contact me and I'll be more than happy to answer your questions.
In early December you will receive a mailing that will confirm the time and place of the 2012 Annual Meeting and provide full details about the two elections and the nomination process. A second mailing will arrive in January with the names of those who have been nominated thus far along with proxy forms for those who might not be able to attend the Annual Meeting in person. If you are not sure whether you can attend the Annual Meeting, please fill out and return the proxy prior to the meeting (your proxy will be returned at the door if you later decide to attend in person). It is important that we have enough voting members present in the room and via proxies so that we can properly conduct the Special Assessment and Board of Directors elections.
Parking Reminder
Overnight parking (Midnight to 6 AM) is not allowed on our streets and private access drives from November 1st through March 31st.
2012 Annual Meeting
Our 2012 Annual Meeting is tentatively scheduled for Wednesday evening, Jan. 18, 2012 at the Shelby Twp. municipal building [this date has since been confirmed]. There will be two important elections held that evening. One will be to approve a final paving Special Assessment and another will be held to elect three co-owners to the Board of Directors.
During the meeting, the current Board of Directors will be asking Association members to approve a Special Assessment for the purpose of repairing cracked curbs and to pave the final asphalt layer on the remainder of our roads and private access drives. A Special Assessment requires the approval of more than 2/3rds of all "members in value" (as opposed to "members in number"), since it is levied on the basis of the percent of value assigned to each Unit. Per the Amended Master Deed, owners of Units 1-14 have each been assigned 0.17422 percent of value and owners of Units 16-167 each have 0.64185 percent of value (owners of all Units each have a vote that is worth 1/166 = 0.60241 percent when voting by number).
Pending the receipt of competitive bids, the current Board estimates that the final paving project will cost about $83,700 and that the Special Assessment levy will be about $145 for each of Units 1-14 and about $540 for each of Units 16-166. The Carpenters Pension Trust Fund owns (47) incomplete Units and they will also pay the Special Assessment amount for each of their Units.
The estimated Special Assessment levy amount is considerably higher than originally planned. That's because the Shelby Township Attorney informed me on Oct. 28, 2011 via this letter that the $29,600 Letter of Credit issued on Nov. 17, 2004 by the Greco Title Co. on behalf of "Sable Realty Ventures- Shelby I LP" and held by the Township to guarantee the final paving is not being honored by the title company that recently purchased the assets of the Greco Title Co.
The current Board of Directors recommends a "yes" vote on the Special Assessment. If approved, the curb repairs and final layer of asphalt paving will be completed before the end of 2012.
The 2012 Annual Meeting will also be the Transition Meeting at which time the Carpenters Pension Trust Fund will transfer control of the Board of Directors over to the co-owners. Therefore, we will be electing three co-owners to the Board at this meeting.
If nominated, I intend to run for another term on the Board of Directors. Please give some serious thought about who else you’d like to see nominated for election to the Board of Directors and discuss it with your neighbors. I know that we have many co-owners who are capable of serving on the Board and the more nominees we have, the stronger the new Board will be. If you have any questions about what is expected of a Board member, please contact me and I'll be more than happy to answer your questions.
In early December you will receive a mailing that will confirm the time and place of the 2012 Annual Meeting and provide full details about the two elections and the nomination process. A second mailing will arrive in January with the names of those who have been nominated thus far along with proxy forms for those who might not be able to attend the Annual Meeting in person. If you are not sure whether you can attend the Annual Meeting, please fill out and return the proxy prior to the meeting (your proxy will be returned at the door if you later decide to attend in person). It is important that we have enough voting members present in the room and via proxies so that we can properly conduct the Special Assessment and Board of Directors elections.
Parking Reminder
Overnight parking (Midnight to 6 AM) is not allowed on our streets and private access drives from November 1st through March 31st.
Monday, May 2, 2011
Phase 2 of the Exterior Paint Project is Set to Begin
U&S Painting will be starting work on Phase 2 of our exterior painting project sometime next week, weather permitting. Their first steps will be to powerwash the surfaces to be painted (update: this work started on May 7th), make necessary caulking repairs and replace and prime all dry-rotted trim boards. Then they will begin the painting of the exterior trim, garage doors and front doors. The painting work will probably take all month and perhaps into June. You will be notified in advance of when they plan to paint your front door. Per their advice, I am keeping with the same color for the front doors, since a lighter color will only lower the surface temperature by 10 or 15 degrees when the sun is shining directly on it through a storm door window.
As a reminder, your 2nd and final payment for the exterior painting “Additional Assessment” is due on June 1, 2011. If you have not already done so, please remit your payment of $420 along with the 2nd payment coupon you received a year ago.
After the painting work is complete, we will have new mulch installed throughout the common elements.
As a reminder, your 2nd and final payment for the exterior painting “Additional Assessment” is due on June 1, 2011. If you have not already done so, please remit your payment of $420 along with the 2nd payment coupon you received a year ago.
If you are unable to find your 2nd coupon, please remit your Additional Assessment payment as follows:
a) add the $420 to the regular $175 amount when you mail in your June 2011 monthly Condo Association dues. It will automatically be credited to your Additional Assessment.
b) If you’ve already sent in your June dues payment or if your dues is automatically withdrawn from your bank account, mail a check for $420 directly to Kramer-Triad’s office at 320 E. Big Beaver, Suite 190, Troy, MI 48083. Include a note listing your name, address and the words "Manors at Central Park Condo Association Additional Assessment payment" so that it will be properly credited.
Additional Assessment payments received after June 30, 2011 will be subject to a $25 late fee.
Click here to view a list of the Units that will be painted in Phase 2 (the units painted in last year's Phase 1 are listed here).After the painting work is complete, we will have new mulch installed throughout the common elements.
Thursday, December 23, 2010
Annual Meeting set for Jan. 19, 2011
You should have received a letter in today's mail from our property management company, Associa Kramer-Triad, announcing details of the upcoming 2011 Annual Meeting of Co-owners.
The 2011 Annual Meeting will be held on Wednesday evening, Jan. 19, 2011 at the Shelby Township Municipal Building. Sign-in begins at 6:00PM and the meeting will begin at 7:00PM. Compared to the meeting room at Utica HS that we have used in the past, this venue is much larger and is available without charge.
It is critically important that we have at least 35% of the Manors units represented at the meeting (at least 59 of the 166 units), either by proxy or in-person. We struggled to meet that requirement for last year's meeting. If you are the least bit unsure of your ability to physically attend the meeting, please sign and return the General Proxy form that will arrive in the mail in early January. You can always change your mind later and attend the meeting in person (your signed General Proxy will be returned to you at the sign-in). Call me at 586-726-0317 if you have any questions about filling out the General Proxy or if you would like me to pick it up from you and take it to the meeting on your behalf. If you prefer to attend the meeting but need a ride, please contact me and I will try to arrange for someone to get you there and back.
As you may have noticed in the letter you received, we will be electing only one person to the Board of Directors at this Annual Meeting. If nominated, I will run for another one-year term as your representative on the Board. It is my hope that the two Board members representing the Carpenters Pension Trust Fund will see fit to hold the Transition Meeting later in 2011, at which time we would elect additional co-owners to the Board and take full control of our Association.
In the meantime, I have submitted a proposed 2011 budget to the other Board members for their feedback and approval. My proposed 2011 budget maintains the 2010 revenue and spending levels. For Units 16-167, the monthly Association fee would remain at $175 and there is another $420 Additional Assessment to pay for Phase 2 of the exterior painting project. The monthly fee for Units 1-14 would remain at $60.
The 2011 Annual Meeting will be held on Wednesday evening, Jan. 19, 2011 at the Shelby Township Municipal Building. Sign-in begins at 6:00PM and the meeting will begin at 7:00PM. Compared to the meeting room at Utica HS that we have used in the past, this venue is much larger and is available without charge.
It is critically important that we have at least 35% of the Manors units represented at the meeting (at least 59 of the 166 units), either by proxy or in-person. We struggled to meet that requirement for last year's meeting. If you are the least bit unsure of your ability to physically attend the meeting, please sign and return the General Proxy form that will arrive in the mail in early January. You can always change your mind later and attend the meeting in person (your signed General Proxy will be returned to you at the sign-in). Call me at 586-726-0317 if you have any questions about filling out the General Proxy or if you would like me to pick it up from you and take it to the meeting on your behalf. If you prefer to attend the meeting but need a ride, please contact me and I will try to arrange for someone to get you there and back.
As you may have noticed in the letter you received, we will be electing only one person to the Board of Directors at this Annual Meeting. If nominated, I will run for another one-year term as your representative on the Board. It is my hope that the two Board members representing the Carpenters Pension Trust Fund will see fit to hold the Transition Meeting later in 2011, at which time we would elect additional co-owners to the Board and take full control of our Association.
In the meantime, I have submitted a proposed 2011 budget to the other Board members for their feedback and approval. My proposed 2011 budget maintains the 2010 revenue and spending levels. For Units 16-167, the monthly Association fee would remain at $175 and there is another $420 Additional Assessment to pay for Phase 2 of the exterior painting project. The monthly fee for Units 1-14 would remain at $60.
Thursday, September 30, 2010
Pay your Association fees on-line
The Associa Kramer-Triad Management Group has launched a new and secure credit card portal that Manors Co-owners can use when paying their condo association fees.
If you are interested in using your credit card to make your payments on-line, click here and follow the instructions.
If you are interested in using your credit card to make your payments on-line, click here and follow the instructions.
Saturday, April 24, 2010
Additional Assessment
The Additional Assessment for exterior painting that I mentioned in the April 2010 Newsletter was approved this past week by the Board of Directors of the Manors at Central Park Condo Association. Co-owners of Units 16 and higher will soon receive a letter from our Managing Agent (Associa Kramer-Triad) with full details on how to make your payment.
The exterior painting contract was awarded to U&S Painting, which plans to begin work during the second half of May. They will be painting 46 units this year and the remainder during 2011. The initial 46 units were all originally painted during 2004, while the remainder were painted in 2005, 2006 and 2007. Click here to view a web page that lists all units in the order that they were initially painted.
The Additional Assessment also provides funding for the application of landscaping mulch throughout the condominium common element areas. The contractor plans to do this work within the next seven to ten days.
The exterior painting contract was awarded to U&S Painting, which plans to begin work during the second half of May. They will be painting 46 units this year and the remainder during 2011. The initial 46 units were all originally painted during 2004, while the remainder were painted in 2005, 2006 and 2007. Click here to view a web page that lists all units in the order that they were initially painted.
The Additional Assessment also provides funding for the application of landscaping mulch throughout the condominium common element areas. The contractor plans to do this work within the next seven to ten days.
Thursday, January 21, 2010
2010 Annual Meeting of Manors Co-owners
The 2010 Annual Meeting of the co-owners of the Manors at Central Park was held on Wednesday night, Jan. 20, 2010.
A quorum of co-owners were in attendance for this meeting, of which the main order of business was to elect one co-owner to the Board of Directors of the Manors at Central Park Condominium Association.
Michael Grobbel was the only co-owner who was nominated for the position and he was unanimously re-elected for a one-year term.
The "unapproved" meeting minutes can be read here.
During the meeting, I mentioned that the Board will be soliciting quotes from multiple painting companies as the first step towards initiating an exterior repainting program. I explained that building exteriors typically need to be caulked and repainted every five or six years to keep up the appearance and avoid deterioration and that if the Board did not take action soon, we would be risking even higher costs down the road. We have 46 units that were initially painted during 2004 and this will be the sixth year of exposure to the elements for those paint jobs. 48 more units were initially painted during 2005 and 2006 and there are another 11 that were first painted in 2007. Here is a list of all units arranged in their approximate construction order.
The consensus of the co-owners in attendance was that they felt we should not delay the start of the repainting program beyond 2010. Rather than increase the monthly association fee and fund the repainting out of the operating budget, I explained that the Board would prefer to levy a Special Assessment to pay for this work. More information will be forthcoming once we have competitive bids in hand and have a realistic estimate of the cost.
At the meeting I also mentioned that myself and several other co-owners recently had cellulose insulation blown into our attics to bring them up to R-49. I have received my first gas bill and after comparing it with a neighbor's bill, I've calculated that my gas consumption has been reduced by about 20%. We received estimates from three different suppliers and went with Ace & Sons Insulation.
A quorum of co-owners were in attendance for this meeting, of which the main order of business was to elect one co-owner to the Board of Directors of the Manors at Central Park Condominium Association.
Michael Grobbel was the only co-owner who was nominated for the position and he was unanimously re-elected for a one-year term.
The "unapproved" meeting minutes can be read here.
During the meeting, I mentioned that the Board will be soliciting quotes from multiple painting companies as the first step towards initiating an exterior repainting program. I explained that building exteriors typically need to be caulked and repainted every five or six years to keep up the appearance and avoid deterioration and that if the Board did not take action soon, we would be risking even higher costs down the road. We have 46 units that were initially painted during 2004 and this will be the sixth year of exposure to the elements for those paint jobs. 48 more units were initially painted during 2005 and 2006 and there are another 11 that were first painted in 2007. Here is a list of all units arranged in their approximate construction order.
The consensus of the co-owners in attendance was that they felt we should not delay the start of the repainting program beyond 2010. Rather than increase the monthly association fee and fund the repainting out of the operating budget, I explained that the Board would prefer to levy a Special Assessment to pay for this work. More information will be forthcoming once we have competitive bids in hand and have a realistic estimate of the cost.
At the meeting I also mentioned that myself and several other co-owners recently had cellulose insulation blown into our attics to bring them up to R-49. I have received my first gas bill and after comparing it with a neighbor's bill, I've calculated that my gas consumption has been reduced by about 20%. We received estimates from three different suppliers and went with Ace & Sons Insulation.
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