February 28, 2006

Meeting Time

The meeting was called to order at 7:00 PM

River North Commons (RNC) Board Members

Debra Siena
Bruce Howard
Rick Edel
Craig Halverson

Eric Fordyce - Phoenix Rising
Erich Steneck - Phoenix Rising

NOTES / MOTIONS

1. The minutes of January 24, 2006 were approved as submitted
2. Treasurer’s Report
   1. The finances are in pretty good shape
   2. The surplus of 2005 has been allocated to the brick repair project of 2006
   3. The delinquent payment problems continue.  A more rigorous collection process will begin in cooperation with Phoenix Rising
3. Old Business
   1. 2006 Masonry Capital Repair Project Update
      • The north parapet wall on the Superior building will be rebuilt at a cost of about $400,000.
      • A full sweep of the building to effect gap and mortar repair will be done at a cost of about $710,000.
      • Warton has identified additional work needed that will be prioritized after the first phase, indicated in the two steps above  (III.A. 1. and 2.), are completed.
        

        Motion:  A special assessment be set in the amount of $790,000 due and payable by June 30, 2006.  Passed Unanimously

        Motion:  The masonry work contract for the first phase of the project be awarded to Prime Masonry in the amount of $600,000 plus 30% contingency.  The contingency money is to be used only for additional work, not cost overrun.  The total cost of the contract will not exceed $800,000 dollars.  Passed Unanimously

      • Fitness Equipment update:  2 new treadmills and 2 new ellipticals will be installed within the next week.
      • Emergency Exit lock proposal:  The budget is $2,500 and the bids range from $9,000 to $15, 000.  The board requested Phoenix Rising to explore the cost of installing a camera
4. New Business
   1. Scavenger Termination:  The board instructed Phoenix Rising to terminate the contract with Ray Strom and send a 60 day termination notice.  Phoenix Rising is asked to secure bids from other scavenger companies.
   2. Dry Wall Repair Procedures:  Discussion was tabled until legal opinion is secured about unit owner and association responsibilities for leak damage.
   3. Comcast Procedure:  The association policy and procedures require that a representative of DirecTV supervise Comcast workers.  This will incur a charge of $85 per hour plus travel, which is to be paid by the unit owner.
   4. River North Owners Association:  The board will request an operating budget from RNOA to help determine if the RNC association will renew its membership.
5. Committee Business
   1. Social Committee:  The loft walk will be held again in December and Third Thursday locations are set for the balance of the year.
   2. Decorating Facility:  A request was made for additional members to volunteer for the Landscaping and Decorating Committee.  Interested owners are asked to contact Geof Shives. 
   3. Web site:  Requests for e-mail addresses will be made to owners to allow the board to communicate updates about the brick repair project.

Meeting Adjourned at 8:25 PM