December 2011
MINUTES OF A REGULAR MEETING
OF
THE BOARD OF DIRECTORS
OF
BROOK RIDGE HOMEOWNERS ASSOCIATION, INC.
A Regular Meeting of the Board of Directors of Brook Ridge Homeowners Association, Inc. (the “HOA”) was held on Tuesday, December 13, 2011 at 7:30 p.m. at the home of Ted Waksman.
There were present at the meeting: Carole Princer Levy, Carolyn Levy, Paul Spindel, Enrique Teuscher and Ted Waksman, constituting all of the directors of the HOA and, therefore, a quorum.
Carole Princer Levy acted as Chair of the meeting and Ted Waksman acted as Secretary thereof.
Mr. Spindel gave a financial report and update on the revised 2011 budget and projected 2012 budget. The HOA currently projects a loss for 2011 of approximately $4,700 and break-even for 2012. Barring any unexpected charges the Operating Account balance is slightly below budget and the Capital Account balance is on budget. As of November 30, 2011 the balances of the Operating Account and Capital Account are $5,485 and $179,392, respectively.
The Board has received estimates for siding and painting of the development as follows: cedar siding - $1.5 million, vinyl siding - $500,000 and painting - $250,000. The Board is continuing to consider these options and would like feedback from the homeowners. The Board also discussed the need and timing for an increase in the monthly common area maintenance charges and/or an assessment to cover the costs of siding or painting..
The Board is reminding the homeowners that at the request of the Fire Department, people should not park their cars on either side of the street around the circles.
The schedule of the next several meetings of the Board was set as follows, with each meeting beginning at 7:30:
Date Home of
January 10 Carole Levy
February 21 Carolyn Levy
March 13 Paul Spindel
April 11 Enrique Teuscher
May 8 Ted Waksman
There being no further business to come before the meeting, upon motion duly made, seconded and unanimously carried, the meeting was adjourned.
Ted Waksman
Secretary of the Meeting