Beacon Street West Condominium Association

Beacon Street West Condominium Association Board of Directors Meeting Minutes 25 March 2013

The meeting was called to order at 5:00 pm at the Lakes Region United Way meeting room. In attendance representing the Board of Directors were Jack Terrill, Bob Ewell, Patrick Seymour, Betty Laux and Marcia Bouchard. Representing Evergreen Management, Inc. was Lindsay Laplume.

1. EMI Property Management Report—Lindsay Laplume

a. Sprinkler Head Update: Lindsay reported that the work began on March 13th. There were 30 sprinkler heads replaced (3 additional heads were identified). Dan is finishing the drywall patching. The painter will finish within 2 weeks.

b. Contracts and Vendor Updates:

 Building 8 exterior doors were re-keyed. All owners were issued new keys. The keypads are operational; however, the carport end display is not working. Seacoast security will be doing the repair since they have replacement parts in stock.  Parking signs arrived. Bob volunteered to install them.  It was brought to the attention of the board that it will be 2 years since dryer vents were last cleaned. It will be addressed in future discussions.  Lindsay continues to have trouble reaching Something Like Rain for the irrigation map. The board agreed that this has been going on long enough and will no longer use Something Like Rain. Everyone agreed that an estimate should be obtained from Belknap Landscaping to perform the maintenance on the system.

c. A noise complaint was received. There was a discussion. Appropriate letters will be sent to parties involved.

2. Treasurer’s Report—Betty Laux: Betty provided a detailed report of the operating account as of 25 March. All invoices, paid and outstanding, were reviewed. There was a discussion on past due monthly condo fees. The board unanimously approved the report.

Betty Laux moved to remove Ted McKean and Linda Bitzer from the Bank of NH accounts and to add Jack Terrill. Bob Ewell seconded. The motion unanimously carried.

3. Ratified e-mail votes: Marcia Bouchard presented the following e-mail votes for ratification: January 23, 2013 approval of the January meeting minutes; February 6, 2013 approval of the $1,500 retainer for Pat Wood; and, February 12, 2013 approval of $3,555.83 insurance deductible owed by the association for the Gerard claim. Jack Terrill moved to ratify the three e-mail votes; Bob Ewell seconded. The motion unanimously carried.

Lindsay Laplume departed the meeting. 2

4. President’s Report

a. Upper Parking lot Discussion: Randy Eifert advised us to file a claim with our insurance company for the upper parking lot. We could be eligible for up to $10,000.00. We are working with the insurance adjuster from our current insurance company. b. Insurance Renewal Updates: According to Randy Eifert, there are three insurance companies interested in insuring our community. This is with a $20,000 deductible. c. Legal Counsel: There was a discussion on seeking Pat Wood’s advice regarding the City of Laconia and the upper parking lot, and for him to review the insurance section of our condominium documents. The board unanimously agreed that this was needed. Jack will be contacting our attorney. d. Inspection of units: Plumbing and potential issues are a concern. In order to look out for the overall wellbeing of our community we need to be pro-active/preventative. The board agreed that individual unit inspection of the valves and possible replacement of hoses to no-burst hoses are needed. Pricing to be obtained in April for work to be done in May and June. e. Rules and Regulations: Board members will do a personal review of the Rules and Regulations. Members will bring their recommendations to the board in June. f. Accessing Funds for Capital Work: There was a lengthy discussion of the work that needs to be done (i.e. brick work, upper parking lot, paving etc…). One option is to borrow funds to have all of the work completed and the monthly payments on the debt as part of our operating budget. There was complete consensus that this needs to be explored as a way to bring the property to good state with the work being done over a short period of time. This would allow for the reserve fund to remain in place and we would continue to fund it. A starting point for gathering information on financing options is to meet with John Martin at Bank of NH. g. Selection of Property Manager for BSW: The board was reminded that we are under no time constraints and we can move at our own pace. It was noted that the process began in early October with Nick’s open e-mail invitation to the community to join the committee, with it reported in October that two community members had volunteered. There was a lengthy discussion on each proposed management firm. Each board member presented their personal analysis along with insights on the process. There was an open and reciprocal exchange of information. The board came to a complete consensus that in order for there to be due diligence additional discussion/meetings with potential vendors was needed. h. Open Session: The board agreed that there should be an open session with the community to discuss our vision and strategic plan. This will be on Monday, April 15th, 5-5:45pm, Laconia Police Station.

The next scheduled meeting will be on Wednesday, May 15, 2013, 4:30pm, LRUW meeting room. The meeting adjourned at 6:55pm.

Respectfully submitted,

Marcia Bouchard, secretary