Emails to ECA Board on Need for Expert Advice

The following separate email messages are from Peg Downey and Linda Kontnier to the ECA Board of Directors urging them to seek expert advice in prioritizing the major renovation projects.

#1
From: Margaret Downey

Date: August 10, 2011 1:19:31 PM EDT

To: sgl@greatoaktitle.com, Charles Bressler , Ilomai Harding , Molly Frantz , Al Muller , Judith Barth

Subject: Request for integrated engineering report


With The Elizabeth Board facing extremely important financial decisions, I feel strongly that it is incumbent on the Board and its members--none of whom has an engineering background--to make these decisions with unbiased but knowledgeable analysis of the many interdependent underlying issues of which the Board (because they are not engineers) cannot possibly be completely aware.

I am reminded of the nursery tale "For want of a nail the shoe was lost, for want of a shoe the horse was lost, for want of a horse the soldier was lost, for want of a soldier the battle was lost, for want of a battle the war was lost...all for the loss of a nail!"

I am also not an engineer. I bring to this discussion my background as a nationally known financial advisor with over 30 years experience, a past Chair of the National Association of Personal Financial Advisors, and a Worth magazine "top financial advisor" for numerous years. My expertise has always been in the comprehensive nature of planning--that anything you do has many ramifications that are overlooked at your peril. I see a very precise parallel with the Board's current questions.

Perhaps even more relevantly. I also experienced the reality of the "for want of a nail the battle was lost" syndrome when I redid my condos in The Elizabeth. Walls had to be redone because of electrical issues, plumbing challenges impacted structural decisions, infrastructure dictated design decisions. And the best solutions ALWAYS involved having an overall vision and a plan for addressing ramifications of choices in ALL areas before any one action was taken.

I urge the Board to take the same approach. It is a fiduciary obligation of each individual Board member to spend the Association's money in the best interests of The Elizabeth, with professional guidance and a commitment to a full understanding of the interlocking ramifications of any structural changes/improvements/repairs.

PLEASE:
* Obtain an integrated engineering report (not individual studies) that, after a thorough inspection of the building, establishes priorities and a plan of action, and

* Use that information (rather than personal preferences) to make these highly important decisions.

I make this request with all support for you and the difficult challenges you are facing, but also with a reminder that you are acting as fiduciaries with a legal obligation to all Elizabeth residents. Let's be sure to attend to all "nails" before we proceed into battle.

Sincerely,
Peg Downey
#614 & #615


#2
Thursday, August 11, 2011

To ECA board members -

I wish to be on record in expressing my endorsement of the thoughtful arguments put forth individually by Ilo-mai Harding, Sharon Bobb, and Peg Downey on the critical need for and value of pursuing an integrated engineering inspection/study, design, with recommendations concerning sequencing and priorities.

Linda Kontnier
# 919