MINUTES OF THE JANUARY 14, 2025 MEETING OF THE
BROOKRIDGE CONDOMINIUM AND HOMEOWNERS' ASSOCIATION
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The January 14, 2025 meeting of the Brookridge Condominium and Homeowners' Board of Managers/Directors was held at Monica Teuscher’s house. Present at the meeting were: Paul Spindel, President; Monica Teuscher, Vice President; Leslie Molinoff, Secretary; Paul Roberts, Treasurer; and Ann Gittelman, Member at Large - all of whom are Managers/Directors constituting a quorum. Also present at the meeting was Tom Pallman, Property Manager. Paul Spindel acted as Chair of the meeting and Leslie took the minutes.
CALL TO ORDER AT 5:36 PM.
TREASURER’S REPORT: Cash balances as of 12/31/2024:
Webster Bank Checking Account - $71,385
Flagstar Bank MM Account (1893) - $19,426
Flagstar Securities Brokerage MM Account (6703) - $2,015
Schwab Brokerage Account (9018) - $1,118
Flagstar Securities Brokerage Account (6703) - $200,000
(Note: $200,000 CD matures Feb 2025)
Flagstar Securities Brokerage Account (6703) - $225,000
(Note: $220,000 CD matures Mar 2025)
Schwab Brokerage Account (9018) - $333,363
(Note: $333,363 T-Bill matures Jan 2025) ========
Total cash - $852,307
Monthly common charges for 2025 are NOT being increased, but there will be a change to the allocation of these funds as follows:
*$425 to the Operating Account and $170 to the Capital Fund.
*This increases the allocation to the Operating Account by $20/month (and likewise reduces the allocation to the Capital Fund by $20/month) in order to keep pace with increasing operating expenses.
The Board regularly reviews our ever-rising expenses versus our budget and works diligently to keep common charges static, but as we all know, the cost of doing business continues to go up regularly and financial adjustments need to be made to accommodate those increases.
COMMON AREA PROJECTS:
A complete repaving of Brookridge Road will be taking place this Spring. The Board is in the process of gathering estimates. Details and instructions will be circulated as we get closer to the date.
A new fixture was installed to replace the broken street light in front of unit #40. This new fixture looks great and does a better job of illuminating the road than the old one. The Board is getting a proposal to replace all the fixtures and one for cleaning and/or repainting the street light poles as well.
POLICY RE SHORT TERM RENTALS BEING CONSIDERED:
The Board has set up a consultation with a real estate attorney to discuss the implementation of a policy regarding short-term rentals (or the prohibition thereof). Results of the consultation will be shared with all.
WEBSITE PRIVACY:
Some residents have been concerned that their contact information is available on our open web site.
The Board recommends that residents check their listing, which can be accessed through the link provided under the main heading of these minutes and clicking “Homeowners’ Directory” at the top of the left column. If anyone wishes to be removed or their information modified (i.e., telephone or email removed), please contact the Board through the Brookridge email and we will take care of it.
INCREASE IN CITY TAXES:
In case there was any confusion about why there was an increase in our city taxes (when we are still in the 3-year tax-freeze timeframe imposed by our settlement with the city), we reached out to our condominium-conversion litigator, Bill Sultzer, for an explanation. Here is what he had to say:
“We checked the condominium’s 2024 assessments, which affect this year’s taxes. The 24 assessments all reflected the corrected figures, so any increase you noticed on the tax bill was solely attributable to the City-wide increase in the tax rate. The “3-year freeze” applies to the assessments, not the City, County and School tax rates. It is our experience that the various tax rates are likely subject to moderately increase on an annual basis in accordance with the annual tax levies.”
IMPORTANT REMINDERS:
1. Please leave guest spots open for guest of the community and vendors. (By parking in your own driveway visiting vehicles don’t wind up parking on the street then creating difficulty for emergency vehicles and sanitation trucks to get through.) For those new unit owners who may not be aware of our parking rules, any resident’s car occupying a guest spot overnight for more than 5 days in a month will be charged $125. Extenuating circumstances should be discussed with the Board.
2. All work commissioned by unit owners with Ron Vitti must be pursuant to a written proposal prior to any work being started. PAYMENT IS THE RESPONSIBILITY OF THE UNIT OWNER.
The next Board meeting will be held at Ann Gittelman’s house on March 11th at 5:30 PM.
There being no further business before the Board, upon motion made and duly seconded, the meeting was adjourned at 6:40P.M.
Respectfully submitted,
Leslie Molinoff, Secretary