December 2017
MINUTES OF A MEETING
OF THE
BOARD OF DIRECTORS BROOKRIDGE HOA, INC.
Call to order at 7:36 PM.
A meeting of the Board of Directors of Brookridge Homeowners Association, Inc. (“HOA”) was held on December 26, 2017 at the home of Barbara Schiff (Unit 8). Present at the meeting were: Carole Princer Levy, Paul Spindel, Monica Teuscher, Barbara Schiff and Jeff Adler - all of whom are Directors constituting a quorum. Also present was Tom Pallman from Stillman Management & Leslie Molinoff from the Condo Conversion sub-committee.
Carole Princer Levy acted as Chair of the meeting. Jeff Adler acted as Secretary.
Condominium Conversion report:
Leslie reports that 42 out of 44 units have submitted signed petitions and have had their unit Layouts drawn and certified by the architect.
Next steps:
Our attorney will prepare a "waiver" letter to be signed by the attorney general of New York state to which will be attached the signed petition(s). No problem is anticipated in obtaining this waiver.
Our attorney will also draft the new by-laws and declaration which will need to be signed by every person listed on each unit deed. He is ordering an up to date list of all homeowners (husbands, wives, trusts, children, etc.). Leslie will be receiving a copy so that we can alert homeowners in advance if they will
need to get signatures from anyone who does not live in the community. Our attorney is absorbing the fee for obtaining this list which is $3,500.
All signatures will need to be notarized. To facilitate this, our attorney recommends a community-wide meeting which he will attend to have people sign the new by-laws and declaration. He will notarize their signatures. The committee can follow up with any homeowners who do not attend the meeting. The documents will be ready for signature in February, but in no event later than March.
After all signatures are obtained, the declaration, by-laws and certified floor plans will be submitted to the Westchester county clerk for filing which will then make us a condominium.
The Board would like to thank all Condominium conversion committee members (Leslie, Anne Gittleman, Elliot Jacobs, Sandi Edlitz & John Denton) as well as unit owners for their efforts during this conversion period.
Regular Board Business:
Minutes of the November 21st Board meeting have been approved and posted.
Paul Spindel, Treasurer, reported on the bank balances as of December 26, 2017.
The operating account balance was $ 39,661.00
The capital reserve account was 201,091.00
CDs from capital reserve account 250,000.00
Total Cash on Hand: $490,752.00
Paul reported that the HOA will run a small surplus over our 2017 budget.
Arrears report:
Unit # 6: This Unit is $23,884.65 in arrears as of December 26, 2017. Wells Fargo Bank holds the mortgage on this property but still has not scheduled a foreclosure action.
Proposed 2018 Budget:
The Board approved the attached budget for 2018.
3 projects that will need funding and are NOT in the 2018 Operating Budget:
(1). Condo conversion
(2). CertaPro touch up painting of units previously painted by them (this expense if it is performed yearly will become an operating expense)
(3). Painting permanent PickleBall lines.
These projects will be paid from the $100,000 reserve fund that we will collect during 2018.
The Board also discussed:
(1). A number of complaints of improper parking in Common areas have reached the Board. Homeowners are reminded not to park in Common areas without first receiving Board approval. Please be good neighbors.
(2). Tree work was completed by the company Care of Tree (C of T).
(3). Ron Vitti Turf and Landscaping Snow Removal Contract was renewed at the same cost as last year. Ron also cleaned all gutters as part of preparing for winter snow falls.
The next meeting of the Board will be will be: Tuesday, February 6, 2018 @ 7:30PM at Paul Spindel’s home (unit #: 1).
There being no further business before the Board, upon motion made and duly seconded, the meeting was adjourned at 8:36 PM.
Respectfully submitted,
Jeff Adler, Secretary