July 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 July 25, 2017 at the home of Paul Spindel (Unit 1). 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. Absent was Tom Pallman of Stillman Management, Inc. Additionally at this meeting are: homeowner Leslie Molinoff and Attorney Ralph J. Elefante (Elefante & Persanis, LLP).

Carole Princer Levy acted as Chair of the meeting, Jeff Adler acted as Secretary

Leslie and Mr. Elefante (both invited by the Board) begin a discussion on the advantages of changing the bylaws and Declaraton of Brookridge from a Homeowner’s Association to a Condiminium. (Mr. Elefante completed a similer change for Fairway Green In Mamaroneck.

The two advantages of this change are:

(1). A reduction of individual property taxes from New Rochelle by 25%-40%

(2). Lower tax bills makes a unit more attractive thus increasing the re-sale value.

(3). Speed up the sale of a units.

Mr. Elefante stated that other than a legal changing the declaration and by-laws no other changes in the way the community functions are affected.

The Board asked Mr. Elfefante review our Declaration an to get back to the it with additional information. If conversion remains as an attractive option as he presented the Board will hold a meeting to present more details and get feedback from all Homeowners. 2/3 OF ALL MEMBERS MUST AGREE TO A CHANGE BEFORE A CONVERSION CAN START.

Regular Board Business:

Corrected Minutes of the June annual meeting have been approved and posted. Three Board Members (whose terms were expiring as of the, June 2017, Annual meeting) were re-elected for an additional term: Paul Spindel, Barbara Schiff & Jeff Adler.

Paul Spindel, Treasurer, reported on the budget as of July 1, 2017.

The operating account balance was $ 27,992.00

The capital reserve account was $185,951.00

CD from capital reserve account $250,000.00

Total $463,943.00

Paul reported that the HOA is currently running a surplus over our 2017 budget, (mostly due to the settlement received from the Unit 16/Zazzarino law suit).

(A). Unit # 6: This Unit is now approximately $19,000 in arrears, as of July 1, 2017. Wells Fargo Bank holds the mortgage on this property but still has not scheduled a foreclosure action.

(B). The HOA has received the enforcement of the court judgment against the former owner of unit Unit # 16 (Louis Zazzarino). The Board received $8,301.44 for past-due common charges. 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 previously agreed to pay for repair of Common area problems but Homeowners will have to pay the costs of repairs to gutters and leaders pipes on their units.

(2). Homeowners are reminded that anyone asking Ron Vitti Turf and Landscaping to perform work on common property must have that work approved by the Board before it can proceed, The cost of work done without approval is the Homeowner's responsibility. Call Tom Pallman (at Stillman Management) if these issues arise for your unit.

(3). CertaPro performed all paint touch-ups. Units having areas that were missed should contact Tom Pallman. (CertaPro will return later this summer.)

(4). The Board is reviewing alternative landscaping and snow removal options and will report the findings to homeowners at the August Board meeting

Swimmers are reminded NOT to bring glass containers into the pool area and make sure the gate to the pool is locked when you are the last person to leave.

The next meeting of the Board will be will be: Tuesday, August 29^th, @ 7:30PM at Unit 54 (Carole Princer Levy’s home).

There being no further business before the Board, upon motion made and duly seconded, the meeting was adjourned at 9:24 PM.

Respectfully submitted,

Jeff Adler, Secretary