September 24, 2001 – 7:00 p.m.

1.0 Meeting was called to order at 7:02 p.m.

Members present: Debra Siena, President (DS); John Robertson, Treasurer (JR); Suzi Wirtz, Secretary (SW); Shawn Mansfield (SM); Dave Fellinger (DF).

Management company present: None.

2.0 Consent Items

2.1 CAPS update by resident Perry Smith, RNC’s designated building representative.

2.2 Financial update by JR, who reported that delinquent assessments have been decreased drastically.

2.3 Tax return has been completed, signed, and submitted.\

2.4 An audit is underway according to JR.

2.5 PK to follow up on insurance refund check.

2.6 JR reported that the Board needs to stay on top of cash balances.

2.7 JR explored a line of credit but does not feel it is feasible at this time.

2.8 2002 preliminary budget was presented by JR. Another version will be presented to the Board by November 1, 2001 and then distributed to all residents by December 1, 2001.

2.9 Punch list update was given by SM. There are three issues left: surfacing the Huron garage; window washing; and finishing the outside arches/façade on Huron side. PK to ask EDC to resurface the garage as soon as possible. A final walkthrough for punch list items will be conducted in October. The Board relayed to residents that EDC will not be released until the transition and reserve studies are completed.

2.10 SM reported that a professional engineer and roof study needs to be completed. This would cover the roof and masonry of the two building.

2.11 Satellite cable contract has been looked at by RNC’s attorney and has been re-submitted with edits to the cable company. The Board is awaiting final input from the company.

2.12 Security survey was reported on by DF. There was 40% response from all RNC residents. Consensus was that residents were happy with the current hours of security (24 hours on both sides), but would like an increased level of security guards. This upgrade of quality is being worked into the 2002 budget.

2.13 Loading zone signs should be in place within four weeks according to DS.

2.14 SM is investigating the feasibility of patching the drywall and painting the Huron side lobby by December.

2.15 All elevators will be recarpeted asap.

2.16 The Chicago Streets and Sanitation Department has been notified of the excessive water build-up on Superior Street and will be meeting with DS to determine what can be done.

2.17 Neighborhood update was reported by DS.

2.18 EMC will follow up on a sprinkler recall that was recently in the newspaper.

2.19 EMC will inform the Board of the results of the gas savings survey that was distributed to the building.

3.0 Action Items

3.1 Minutes from the August Board meeting were motioned for approval by JR. Seconded by SM. Motion passed.

3.2 SM motioned to have Reserve Auditors, Inc. complete a engineering and reserve combination study by the end of November. Cost is $9800. Seconded by DF. Motion passed.

3.3 SM motioned that we move forward with window washing; an initial cleaning cost of $5750 to be completed in October, and subsequent cleanings at $2900. Seconded by DF. Motioned passed.

3.4 SM motioned to have the outdoor parking lot gates (on the West side of the building) corrected and obtain new openers for all affected residents. Cost of $1800. Time frame: four weeks. Seconded by DF. Motion passed.

3.5 SM motioned to complete a one-time garage cleaning of all three garages at a cost of $375. The goal would then be quarterly cleaning. Seconded by JR. Motion passed.

4.0 Meeting was adjourned at 8:15 p.m.

Respectfully submitted,
Suzi Wirtz
October 10, 2001