November 25, 2002

BOARD MEMBERS

Steve Di Padua (SDP)
Dave Fellinger (DF)
Bruce Howard (BH)
Brian Madurzak (BM)
Debra Siena (DS)

NOTES / ACTION ITEMS

1.0 Approval of Minutes

1.1 No minutes approval required due to the start of the new board.

2.0 Satellite Dish Presentation – USA Direct TV (USADIRECTTV.COM)

2.1 A satellite dish presentation was provided by Warren – contact number 847 831 4561 ext 11)

2.1.1 Satellite dish installed on RNC roof

2.1.2 The entire building is wired and capable or receiving benefits of satellite service including TV, music, internet

2.1.3 Fee structure is based on a box/television basis with one-time installation fee, and regular maintenance fee. Warren stated that installation is FREE until January 1, 2003. Comprehensive costs and information is posted on the bulletin boards

3.0 Financial Overview (BH)

3.1 There is presently a cash-on-hand balance in the replacement reserve fund of $249K.

3.2 The board has been prudently mandated a $100K/year for reserve allocation.

3.3 Income from monthly assessments was $ 582K; this represents approximately $3K positive status

3.4 There is approximately $19K is delinquent assessments: some monthly assessments are stretched beyond 90-days. The collection goal is to have all assessments received with a 30-day period.

3.5 Yearly expenses were approximately $503K vs. a budget of $502K.

4.0 Old Business

4.1 DS stated that the façade study will be completed and received by December 6.

4.2 RNC continues to pursue Enterprise Management Company for outstanding work/reimbursement including repairs to Huron 616 balcony, northwest corner Superior units, and Huron garage pillars

5.0 Committee Updates:

5.1 Decorating

5.1.1 Lobby exterior facades have been completed including exterior carriage lanterns, planter boxes, lobby

5.1.2 (2) contractors have bid on lobby reconstruction. Final estimates are due by December 2. The proposals will be submitted to the board for review.5.2 Website

5.2.1 The RNC website has been completed

5.2.2 BM stated that forms for complaints, suggestions, pet registration would be part of the website

5.2.3 Rick Edel will include the RNC website address on the building stationary

5.2.4 Rick Edel will designate an individual to upload applicable information into the RNC website5.3 Social Committee

5.3.1 The social committee has successfully hosted brunches and cocktail gatherings for building residents

5.3.2 A RNC holiday loft walk has been planned for December 8. Approximately 40 people have registered to visit 8-12 RNC units.

6.0 Open Floor

6.1 Residents posted concern over the following points;

6.1.1 Neighborhood noise

6.1.2 Ongoing problem with unleashed pets

6.1.3 Dissatisfaction with current security. SDP to follow up with Dan William for security recommendation

6.1.4 Poor housekeeping

6.1.5 Huron garage door continually broken

6.1.6 Resident information packets

6.1.7 Updated RNC Move-in / move-out, building regulation guidelines