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.

Vehicle and garage break-ins

Nearly a dozen vehicle and garage break-ins have been reported this past week in the Central Park community, mainly in the Gardens and Meadows subdivisions.  They have been occurring during the daylight hours around 4 PM as well as in the 10 PM and later time ranges.  Most of the vehicles were not locked.  Access to some of the garages was gained by using the garage door opener they found once inside the vehicle.  The perpetrator(s) also watch for open garage doors and make a quick getaway with valuables from the garage and the unlocked vehicles parked inside the garage.  One of the daylight thefts involved a purse that was left in a vehicle that was briefly parked in the driveway while the owner went back inside the house to get something. The Shelby Twp. Police ask that you please be vigilant and proactive.  ALWAYS LOCK YOUR VEHICLE when it is parked in your driveway or on the street and keep your garage door closed unless you are actually in the garage, the driveway or front yard.  Also, it is best that you do not leave your garage door opener or other valuables in plain sight within the vehicle.

UPDATE: On Feb. 28, 2012, a local man plead guilty on charges of larceny from a building and receiving and concealing stolen property in connection with these break-ins. He was sentenced to 30 days in Macomb County Jail and 1 year probation. More details can be found here and here.

2012 Annual Meeting

Our 2012 Annual Meeting is officially scheduled for Wednesday evening, Jan. 18, 2012 at the Shelby Twp. municipal building.  Sign-in will begin at 6:30 PM and the meeting at 7:00 PM.

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

Look for an envelope from Kramer-Triad to arrive in the US Mail within the next week or so.  It will contain full details about the time and location of the meeting, plus it will explain the Board of Directors nominating process.

Associerge

Enclosed with our Nov. 2011 newsletter was a letter from Jeff Gourlie, the President of Associa, which is the parent company of our property management company, Kramer-Triad Management Group.  His letter announced the free "Associerge" service that is now available to our co-owners.  There is no charge for this service, either to you or our Manors Condo Association.

According to this web page on their Associerge blog,

Associerge is an exclusive concierge service for Associa residents providing benefits and privileges 24 hours a day. Need help making dinner or travel reservations? Need someone to come walk the dog? All of these amenities and more are available to Associerge members........ Once you’re a registered member, Associerge travels with you online giving you easy, personal access from anywhere you are in the world. Take advantage of the Essential Membership package with over 25 free remarkable services.

Manors co-owners can click here to learn more and also register for the Associerge virtual concierge service.  You can also register by calling toll-free 1-800-560-9015, 24 hours a day, 7 days a week.

Once you are registered, click here to log in to the service.

You might also be interested in making use of another new program called the Associa Advantage.  It offers Manors co-owners the opportunity to enjoy significant savings on the purchase of household goods, services and everyday necessities from selected providers.

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.

Community Area Rules and Regulations

Click here to read more information about the letter and enclosures you should have received in today's mail from Kramer-Triad.

Manors Board of Directors Meeting Minutes 10/17/2011

Minutes of the Oct. 17, 2011
Meeting of the Board of Directors of the
Manors at Central Park Condominium Association
2:00 PM Eastern Standard Time

1) Meeting began at 2:05 PM EST; Quorum was established with two of the three Board Members being present on the conference call. Board Members present: President Amanda Jacobson (Titanium), Secretary Mike Grobbel (Manors co-owner); Board Members absent: Casey Wendeln (Titanium). Also present: Ryan Dorner (Kramer-Triad property management)

2) The Board approved the proposed meeting agenda

3) The Board formally approved the April 19, 2011 meeting minutes

4) The Board awarded the 2011-2012 Snow Removal Contract to GM Landscaping

5) 2011 Budget - the Board discussed

a) performance through Sept. 30, 2011

b) pending and proposed legal actions to collect from delinquent co-owners

6) Proposed 2012 Annual Budget

a) The Board reviewed and discussed the proposed 2012 Budget, particularly

i) Expenses

(1) $11,700 for brick mortar joint repairs above the garage doors on (23) Units

(2) $83,717 estimated minimum cost for completion of final layer asphalt paving on all streets; final paving project is proposed as an add-on to the 2012 budget and will be funded separately; assumes entire amount of Sable’s paving completion bond held by Shelby Twp. will be applied to the project and that an Additional Assessment will be levied on all 166 Units to cover the shortfall; final decision of when and how to proceed will be the responsibility of the new Board that is elected at the Transition Meeting in Jan. 2012.

(3) Expenditures, including final paving project, total $326,481

ii) Income:

(1) $175 and $60 monthly Association fees remain the same for 2012

(2) $10,000 payment from the Carpenter Pension Trust Fund will be deposited in the Replacement Reserve Account at the time of Transition

(3) Final paving project funding:

(a) Approx. $29,600 from the paving completion letter of credit

(b) Approx. $58,100 from the final paving project Additional Assessment

(4) Revenues, including final paving project, total $329,220

b) The Board approved the proposed 2012 Budget as presented.

7) Transition Meeting

a) Transition Meeting and the 2012 Annual Meeting will be one and the same

b) proposed location: “Board Room” in the Shelby Twp. Municipal Building

c) proposed date: Wednesday, January 18, 2012 (Feb. 1^st alternate date)

d) proposed start time: 7:00 PM EST (sign-in beginning at 6:30 PM)

e) Replacement Reserve Account

i) $12,000 estimated balance as of Jan. 1, 2012

ii) $10,000 addition to Replacement Reserve Account will be received from the Carpenters Pension Trust Fund prior to Transition Meeting

iii) $22,000 estimated balance at time of Transition Meeting

8) Old Business - none

9) New Business - none

10) Next Board of Directors meeting

a) no need for a meeting prior to the Transition Meeting

b) next meeting will be called by the new Board of Directors

11) Meeting was adjourned at 3:08 PM EST

What's wrong with this picture?

What's wrong with this picture? The trash was placed at the curb way too early!

The Rules and Regulations of the Manors at Central Park Condominium Association state that refuse and recyclables shall be placed at the curb no earlier than 6:00 PM of the evening before collection day. They also require the empty containers to be removed from the curb no later than 6:00 AM of the day following the collection day. Since our regular collection day is Tuesday, that means that trash and recyclables may go out to the curb after 6:00 PM on Monday evening and empty containers need to be stored away by 6:00 AM on Wednesday.

The Shelby Township waste services web page asks that you have your trash and recyclables at the curb by 7:00 AM on collection day.

Allied Waste has asked our duplex residents to place their trash and recyclables at the curb on the side of their driveway nearest the closest neighboring driveway so that their drivers can pick up from both addresses with only one stop. Click here to view a drawing that shows the preferred placement location.

Your cooperation is very much appreciated.

Exterior garage lights

The other night I counted about 20 exterior garage light fixtures that were dark so the next day I purchased some more 40 watt incandescent replacement bulbs on behalf of the condo association. Tonight I inspected each of the dark fixtures and found that 15 of them had burned-out bulbs (6 of these were compact fluorescent bulbs, which makes one wonder about the claims for their superior longevity). The remaining dark bulbs had been partially unscrewed and I twisted them fully into their socket so that they are providing light again.

The condo association is responsible for the maintenance of the exterior garage lights and their photocell switches while the co-owners are responsible for providing the electricity to light the bulbs. The light from the exterior garage fixtures enables emergency responders and your own visitors to quickly and easily find your address at night and they also serve as a deterrent to vandalism. Keeping the bulb in your garage light fixture completely screwed-in not only helps keep the Manors safe and well-lit, it also assists the Association in identifying photocell switch failures so they can be repaired.

We have already experienced a half-dozen or so photocell switch failures and the only way for the Association to identify them is when bulbs are known to be good and completely screwed into their base. Tonight's inspection and maintenance showed that none of the fixtures were dark because of a photocell switch failure in the "off" state. The photocell switches can also fail in the "on" state and they are easier to detect because they no longer turn the current on and off at the right time. If you notice that your exterior garage light is burning during the daytime, please contact me and I will arrange to have the photocell switch replaced.

UPDATE - why not install compact fluorescent (CFL) instead of incandescent light bulbs?

The Association is installing long-life (2,000 hours), 40 watt incandescent bulbs that cost 60 cents each and which put out 455 lumens of light. Using the DTE residential billing rate from my last bill, I calculate that it costs me $2.12 per year to keep a 40 watt bulb light burning for the 12 month average of 12 hours per night. For $1.80 I can purchase a compact fluorescent light (CFL) bulb that is rated at 8,000 hours life, 13 watts and 450 lumens. The CFL will use only one-third the energy of that 40 watt incandescent bulb, which means that a CFL will save me about $1.40 per year in electricity costs. Since it will last longer than the incandescent bulb, I also need to compare the bulb purchase and replacement costs to estimate the total savings.

If the CFL actually lasts for the 8,000 hours rated life, then over a two-year period we would use (1) CFL versus (4) incandescent bulbs. At $1.80 versus ($0.60 x 4 = $2.40), the CFL purchase savings over two years is about $0.60. When you add that to the $2.80 savings in electricity over two years, I estimate that using a CFL bulb will at most save a grand total of $3.40, or $1.70 per year.

However, based on what I'm seeing here in the Manors, I don't believe that the CFL bulbs in the exterior garage lights are lasting anywhere near the rated 8,000 hours (about two years) because of having to operate in the cold temperatures during the winter. If I assume that they last only 4,000 hours (about one year), the grand total savings over two years is only about $1.60, or 80 cents per year (because the CFL bulb replacement costs are now higher, the savings is all in electricity usage).

Therefore, based on my analysis I believe that:
a) the Association's bulb replacement costs over a two year period is about the same or even slightly lower if we use 40 watt incandescent bulbs instead of 13 watt CFL bulbs
b) the co-owner's cost for the additional electricity to burn a 40 watt bulb over that two-year period is at most $2.80
c) until either the CFL purchase cost comes down and/or their outdoor life expectancy improves, the Association will purchase 40 watt incandescent bulbs for the exterior garage light fixtures.

Neighborhood watch incident - Aug 25, 2011

I was riding my bicycle looking for streetlight outages at 10:40 PM on Thursday, Aug. 25, 2011, when I noticed an older model, light colored Jeep Liberty (Michigan License Plate BJP-2523) with one teenaged male occupant inside that was parked next to the open field on Lexington West between North Central Park and Lexington South. As I approached, I heard several voices coming across the open field from the vicinity of the berm near the west edge of our property. I stopped my bike and shined my flashlight towards the berm, where I observed one male teenager walking slowly towards the vehicle. The occupant of the vehicle told me that his friend needed to relieve himself and I replied that I heard multiple voices and I wasn't buying his story. I then shouted out instructions for all of the persons on the berm to approach their vehicle and leave our property or I would call the police and have them cited for trespassing. With my flashlight I then noticed two more male teenagers quickly moving away from me along the top of the berm behind 49927-49943 Lexington West and shouted for them to stop and come out to the street and leave immediately, which they all did. They only said that they were not doing anything wrong but offered no other explanations for their presence on the rear yards of our property.

Please keep a lookout for this vehicle and any other suspicious cars or people wandering around our property - particularly after sunset. If you see something suspicious, call the police and let me know about it so I can keep track of these incidents.

UPDATE - Aug. 27th: I've been informed that this was at least the second time in the past week that a similar-looking Jeep Liberty has been parked there. A larger SUV has also been observed parked near there with its motor running. A few days ago at dusk, four teenagers were observed riding their bikes across that open field and up to the berm and then back down to the street.

Considering a fence for Units 1-14?

Per the Addendum to the Manors at Central Park Condominium Bylaws, fences are only permitted for Units 1-14 and the Board of Directors has the right to standardize the architectural design of permitted fences.

The Board of Directors of the Manors at Central Park Condo Association has decided to adopt the same standardized fence design criteria as used by the Gardens at Central Park, the Meadows at Central Park and the Central Park Master Association.

The standardized architectural design criteria for permitted fences are as follows:

• Materials: extruded rectangular aluminum (additional ornamental components may be permitted upon request)
• Color: black
• Maximum Height: 48 inches

Owners of Manors Units 1 through 14, inclusive, may request permission from the Board to erect a fence in their rear yard by reviewing the information below and following the instructions on this web page.

The Board's approval will be granted strictly on the basis that the material, color and height of the proposed fence meets the Association's standardized requirements.

Co-owners of Units 1 through 14 who desire a fence remain responsible for

1. making certain that your proposed fence complies with the Shelby Township fence requirements and obtaining all necessary permits.
2. determining that your proposed fence does not encroach on or outside your property lines.
3. familiarizing yourself with the location and nature of all easements that run through your rear yard and obtaining approvals from the easement holder(s) before erecting any portion of the fence within an easement.

The Board particularly wants the co-owners of Units 1-14 to be aware that there are a number of easements that run across the rear of your property and that there is the potential for future problems should the fence be placed on an easement without securing approval from the easement holder. For example, the very rear of each lot contains a "20 foot wide construction, maintenance and operation easement" which grants Lombardo Homes and the Kensington Condo Association the right to use it for access to their property for new building construction and on-going building maintenance. That easement was granted because by design, the existing and proposed Kensington Condo cluster buildings are only about 5 feet away from the rear property lines of Manors Units 1-14.

In the absence of an approval from the easement holder(s), it is the co-owner who assumes all risks stemming from a decision to place their fence within the easement area(s); such risks include but are not limited to having the fence damaged or removed by the easement holder or being sued by them to have you remove it from the easement. Since the Board's granting of a fence approval is based only on whether it meets the specified architectural design criteria, there exists no liability on the part of the Manors at Central Park Condo Association should the easement holders decide to enforce their easement rights.

Did you lose your kitten?

Lost kitten/cat
Please be advised that a lost grey tappy kitten has been found near the intersection of Lexington East and Lexington South. It is a very friendly kitten and it is receiving good care (feeding & water). If you lost this kitten please call 586-xxx-xxxx.

UPDATE: the cat was successfully reunited with its owner, who had just moved out and lost the cat in the confusion of the move. The owner mentioned her missing cat in passing while at the Shelby Twp. DPW to pay her final water bill and the clerk said that she knew someone who lived in Central Park and that she would ask her to keep an eye out for it. When she contacted her friend, the friend remembered seeing the "found cat" notices that had been placed on area mailboxes and went and got the finder's phone number off the notice. The clerk then called the owner and gave her the finder's phone number and the cat was quickly reunited with its owner.