Tilton Bernstein Management, Inc.

CORCORAN MEWS CONDOMINIUM ASSOCIATION

Board Meeting
February 4, 2009

Attending:
Board Members Present:
Tim Foley – President
Carmen Varley – Vice-President
Jeff Hertrick – Treasurer
Wayne Maffett – Secretary

Board Members Absent:
Salman Anees

Property Management–Tilton Bernstein Management:
Cheng Sithole – Property Manager (202-232-5247 ext. 21)

The meeting was called to order by President Tim Foley at approximately 6:43 PM in 1754 Corcoran Street, 503B Washington, DC 20009 (Secretary's residence).

  1. Management Report – Cheng reports:
    • Delinquencies: Only one at this time.
    • Now in the process of negotiating rate reductions with vendors. To control expenses the Board agreed to reduce external pest control treatments to 6 times a year.
    • The Board discussed some members concerns about mice in individual units. Cheng was directed to remind members that they are responsible for controlling pests in their own unit. Pests found in common areas will remain the responsibility of the association.
    • Property Diagnostics is in the process of preparing a reserve study and has looked at water leaks in several units.
    • Several vendors have been asked to submit RFP's to fix storm water leaks. Tim asked Cheng to submit the bids for consideration by the end of February.
    • The leaks in 1750, A have been caulked.
    • Gas lamps were cleaned.
    • George was awarded a holiday bonus.
    • The KPS hot water monitoring contract was cancelled as directed by the Board.
    • 1756, 3B roof repairs and exterior work has been completed. The engineer has been asked to review and approve this portion of the project. Interior repairs will begin shortly.
    • 1748, 3B work has been completed
    • Hallway passage fee has been requested from Mr. Keaton.
    • DC Arborist office was asked to help with the costs of treating the Jackson elm. Nothing heard back at this point. Cheng was directed to attempt to speak directly with the Arborist.
    • Fire alarm test completed.
    • The documents received from the former property management firm, Simmons, did not contain the 2002 engineering report on 1752, 3B.
    • The WASA usage study was completed by Jeff. The report was shared with the Board.
    • Jeff reports the storm window was installed as requested and it is now quieter and warmer in the unit.
  2. Treasurer's Report – Jeff Reports
    • Most members have submitted special assessment payments. Those that have not paid have until the end of the month.
    • Cash on hand balance is about $26,000.
    • Current and outstanding expenses will require drawing funds from savings.
    • One CD matured in January. Jeff directed that our Financial advisor move $50,000 to a 9-month CD.
    • There is about $38,000 in a money market account.
    • The reserve study is expected to show a need for additional funds. The Board may want to consider increasing the reserves after hearing from Property Diagnostics staff and reviewing their report. Cheng was asked to invite Property Diagnostics to attend the next Board meeting, May 6th.
    • The 2008 budget and expenditures were discussed. Total costs exceeded the budget by more than $13,000. That does not include $31,000 in general repairs made in 2008, but which are being paid in February, 2009 nor does it include about $15,000 in roof repairs made in January. Utility costs in 2008 were more than $16,000 over budget.
  3. Old Business
    • The acceleration of one member's association fees is on track. The association's attorney is proceeding as directed.
    • Tim asked Cheng to obtain a CBS maintenance contract quote within the next 60 days. The Board will consider the proposal at the next meeting.
  4. New Business
    • Wayne will meet with Bob to discuss what can be done to improve the old junk tree area. After the meeting Bob will prepare a proposal and submit to Cheng and Wayne for review.
    • Cheng was asked to have the street side lamps at 1752's entrance repaired. The lamps will not light and stay lit and may require a new open flame burner type nozzle.
    • Cheng will have TBD paint the storm window at 1752, 1B.
    • The 1752, 3B balcony/window renovations project is now in the process of being estimated by Wagner, Inc.
    • There was extensive discussion about the problems with the washers and dryers. Both are nearing the end of life expectancy.

Motion to adjourn the meeting at approximately 8:26PM:
Motion By: Carmen Varley
Second By: Wayne Maffett
Vote: 4-0-0 Board

Submitted by:
Wayne Maffett
CMCA Secretary