April 2017
MINUTES OF A MEETING
OF THE
BOARD OF DIRECTORS BROOKRIDGE HOA, INC.
A meeting of the Board of Directors of Brookridge Homeowners Association, Inc. (“HOA”) was held on April 18, 2017 at the home of Monica Teuscher (Unit 43). Present at the meeting were: Carole Princer Levy, Paul Spindel, Monica Teuscher and Jeff Adler - all of whom are Directors constituting a quorum. Also present was Tom Pallman of Stillman Management, Inc. & Ron Vitti of Ron Vitti Turf and Landscaping, Inc.
Carole Princer Levy acted as Chair of the meeting. Jeff Adler acted as Secretary
. Call to order at 7:35 PM.
Ron Vitti reviewed his proposal to repair and replace all sprinkler zones in the front and the rear of all units at a cost of $15,500.00. This Capital Project was approved unanimously by the Board.
Minutes of the March meeting have been approved and posted
Paul Spindel, Treasurer, reported on the budget as of April 1, 2017.
The operating account balance was $ 33,254.00
The capital reserve account was $410,578.00
Total $443,832.00
Paul reported that the March snow removal increased the snow removal budget by $3,251.00 this put the HOA over our budget projection by approximately $1,000.00.
Since we now have over $400,000.00 in the capital account Paul is exploring (through the HOA’s bank: Sterling Bank) establishing a “ladder” of CDs or Treasury Bills for part of the HOA capital account balance. This would bring additional moneys into the Operating account balance by increasing interest earned.
Arrears report:
(A). Unit # 6: This Unit is now $16,939.65 in arrears as of April 1, 2017. Wells Fargo Bank holds the mortgage on this property but still has not scheduled a foreclosure action. However, Wells Fargo is in the process of asking the Court to force an administrator of the estate to be appointed. At that point foreclosure action may begin.
(B). The HOA is waiting for a court judgment against the former owner of unit Unit # 16. We are hopeful that we will recover the $10,437.41 in arrears owed by the former owner Louis Zazzarino. Citicorp, the current owner of the unit is current with all charges since they foreclosed last December.
The Board also discussed:
(1). Drainage issues in Common areas behind Units 31, 29 & 27 and 17 & 19. Gutters, leaders and pipes going to the drainage system are clogged and are creating wetness on the lawns behind these units. The Board agreed to pay for repair of Common area but Homeowners will have to pay the costs for repair to gutters and leaders on their units.
(2). The Board voted previously on a proposal to join the other Gated communities in New Rochelle to withhold paying the charges on the 3 hydrants within the property of Brookridge HOA. The New Rochelle HOA group is now trying to convince the Public Service Committee to rescind this charge on private hydrants.
(3). Our community’s pool will open early next month. We will need volunteers to check chlorine levels. Paul Spindel and Monica Teuscher will organize this effort.
(4). Reminder: The Annual Meeting of the Brookridge Homeowner’s Association will be held on Tuesday June 13 at 7:30 PM at the New Rochelle Jewish Community Center. Board membership expires for Monica Teuscher & Carole Princer Levy. Anyone interested in standing for the Board should contact tom Pallman.
(5). If remote “clickers” are still needed for the Front Gate please contact Tom Pallman.
(6). Cert-Pro will start paint touch-ups late May 2017.The Board reminds all Homeowners to contact Tom Pallman with any list of areas needing repainting.
(7). Street cuts which have been patched in the streets of our complex and will be replaced and repaired in May
(8). Our community garden opens in May. For details contact Monica Teuscher.
The next meeting of the Board will be May 9th at 7:30.
There being no further business before the Board, upon motion made and duly seconded, the meeting was adjourned at 8:32 PM.
Respectfully submitted,
Jeff Adler, Secretary