Summary of ECA Board Meeting February 27, 2018

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Board Present: Zlatan Beca, Makarand (Mac) Dehejia, Monique Fridell, Al Muller, Connie Row, Lyle Schwartz, Rhonda Taller

Others Present: ECA General Manager MaryAnn Hall, Assistant Manager Romaine Cureton, Gates Hudson Portfolio Manager Larry Hirschman, Jeremy Tucker (ECA legal counsel, Lerch Early & Brewer, Chtd.)

Highlights of the Meeting:

• ECA’s insurance will now be bid on the primary insurance market which should result in significantly lower budgeted deductibles as well as lower premiums when the building insurance comes up for renewal in May 2018.  This improved situation is the result of ECA’s aggressive maintenance program and the E-Pipe project completion.

• The Board approved  a 24-month contract with Gates-Hudson for $43,000 annually to provide more limited financial services to the ECA rather than the current  full service contract at $73,000/year.  The contract also limits the fee to extend the contract for another period to a 2% increase.

Under the new contract, a Gates-Hudson layer of management activity will be shifted to the ECA management team of General Manager and Assistant GM.  Among other activities, Gates-Hudson will no longer handle resale information/transfer packages, do delinquency notices, and financial reporting to ECA Board and owners.  As a result of the change, additional revenue from some activities will accrue to ECA, estimated at $15,000 annually.  This is another way that our General Manager MaryAnn Hall is saving the ECA significant money.

A shift to this level of contracted services was reviewed in the 6-month competitive bidding process completed 2 years ago and was planned to occur when our ECA staff was at full strength as it now is.   For that reason, the contract was not rebid at this time.  (Vote was 6 directors for and one (Al Muller) abstention.)

• The Board also approved a new $15,000 landscaping contract for 2018 with Legend Landscaping subject to legal review, down $5,000 from the previous contractor.  Three companies bid on the contract. 

• Check Bob Joiner’s The Agenda News for up to date information on Parcel 6 activities. Parcel 6 pertains to the development of property next door to the Elizabeth.

From the Management Report (for full details, ask for a copy of this report from our Management Office)

·      Garage Project—a pre-bid meeting was held with FEA and contractors asked to bid on this large project. Potential start date is first week of April.

·      West Tower Inspections—some questions were raised about cleaning of condensate lines. The process has changed so check with Management Office for further information. GM Hall has assured Association the process being used is addressing all concerns raised.

·      West Tower Patio is under restoration.

·      G-1 Emergency Door—awaiting part to repair it.

·      Unit 10 has been rented effective March 1 for one year with possible renewal.

·      Repairs to windows and doors—Hi Rise Windows has been onsite addressing an array of problems.