November 2023
MINUTES OF THE NOVEMBER 14, 2023 MEETING OF THE
BROOKRIDGE CONDOMINIUM AND HOMEOWNERS' ASSOCIATION
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The November 14, 2023 meeting of the Brookridge Condominium and Homeowners' Board of Managers/Directors was held at Paul Spindel’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 were Joe Badolato, Property Manager and Michael Leonard, Assistant Property Manager.
Paul Spindel acted as Chair of the meeting and Leslie Molinoff took the minutes.
CALL TO ORDER AT 5:30 PM.
Treasurer’s Report: Cash balances as of 10/31/2023:
NCB Operating Account - $ 50,896
NCB Reserve Account - $170,903
Flagstar Bank MM Account (1893) - $ 16,863
Flagstar Securities Brokerage Account (6703) - $200,000 (Note: $200,000 CD matures Feb 2024)
Flagstar Securities Brokerage Account (6703) - $200,000 (Note: $200,000 CD matures May 2024)
Flagstar Securities Brokerage Account (6703) - $100,000 (Note: $100,000 CD matures July 2024)
Total cash - $738,662
Condo Property Tax Reduction and Refund Checks:
By now, you have all begun to experience the fruits of our labors in that the 23/24 School tax bills for all participating condo conversion unit owners (which were due on
October 1st ) was reduced in accordance with the percentages indicated by our tax grievance attorney in previous reports and the same reduction will be applied to all future property tax bills for condo conversion participants. We trust you are happy with this result.
Additionally, the Board is very pleased to be able to tell you that your refund checks for the period 2019-2023 have been mailed and should be received shortly, if you have not already received them. We think you will be similarly pleased with that part of our settlement with the City !!!
Please note: Our attorney wishes to remind us that the disparity in refund checks from unit to unit is due to the fact that similar units had different assessments at the start of the process because certain owners had previously grieved their assessments, while others had not. Alternatively, tax challenges were successfully filed for similar units in the past, but they were resolved at different times, using different assessment ratios, in different real estate markets, so the assessed values were disparate when we first initiated litigation.
COMMON AREAS REPORT:
Front Gate: Recent issues have now been resolved and the gate is once again fully operational.
Pool: The pool is now closed. See you all out there again next May!
Speed Bumps: The speed bumps have been removed to accommodate the snow plows. For the safety of all, please continue to drive slowly – the removal of the bumps should not be construed as license to speed!
Gutters: The gutters are scheduled to be cleaned toward the end of this month. An email blast will be sent to alert you to the specific date.
Street Lights: Many of our street lights are out. It has been determined that it is a power supply issue, rather than the mere changing of bulbs. An electrician has been called in to fix the problem as soon as possible.
PLEASE NOTE THAT WE ARE SWITCHING TO A NEW MANAGEMENT COMPANY, GRAMATAN MANAGEMENT, INC., EFFECTIVE JANUARY 1, 2024.
You will be receiving additional notices regarding this change as we get closer to the new year and will be informed about how electronic payments can be made as well as what the new mailing address will be for snail mail payments.
The next Board meeting will be held on December 12th at 5:30 at Monica Teuscher’s house.
There being no further business before the Board, upon motion made and duly seconded, the meeting was adjourned at 6:35 P.M.
Respectfully submitted,
Leslie Molinoff
Secretary