<p> General Meeting of Residents May 23, 2014 At the Pool</p><p>Attendees: Patti Smolansky, Ted Berry, Bobby Ranon, Bob Ferguson, Cindi Peters, Marie Wallace, David Boles, Joanne Boles, Karen Yukna, Martha Vasquez, Ernesto Vasquez, Ted Berry, Ryan Osborne</p><p>The meeting was called to order at 10:00 am by Ted Berry who briefly re-explained the elevator modernization project anticipated costs of $135,000. Ted explained that the project is a combination of essential updates of our elevators (due to their advanced age, frequent breakdowns and unavailability of replacement parts) and legally mandated fire- safety updates. To avoid a special assessment, the project would require a transfer of $79,000 from our reserve funds, leaving $16,000 in reserves. It is relevant to note that our reserves increase $3000 each month. Ted explained that a special assessment was not the first choice of the Board (to avoid using reserve monies) because: 1) the Board had at our January General Meeting, assured residents that sufficient funds existed to fund the project and 2) while there are other projects that will require funding (paving the parking lot, painting of buildings, etc), there are no known urgent pending projects and all pending projects can be delayed until sufficient reserve funding is available. Ted also clarified that the project could not be delayed until Fall because of the increasingly frequent elevator breakdowns and ongoing problem of availability of parts. Fire Rescue has already had to respond to several elevator breakdowns where the occupant’s safety was of concern.</p><p>Ryan Osburne, our new Associa representative, reported that 21 of the 30 units who sent proxy votes, unanimously voted to transfer Reserve Funds to fund the elevator project.</p><p>Bob Ferguson briefly explained the elevator project components to the group.</p><p>A vote was taken, and all unanimously voted to approve the transfer of funds from our reserves to pay for the elevator upgrade. </p><p>A motion to close the meeting at 10:25 pm was made by Martha Vasquez and seconded by Bob Ferguson. </p><p>Respectfully submitted, </p><p>Patti Smolansky</p>