January 2020
MINUTES OF A MEETING OF THE
BOARD OF DIRECTORS OF THE BROOKRIDGE HOA, INC.
A meeting of the Board of Directors of Brookridge Homeowners Association, Inc. (“HOA”) was held on January 22, 2020 at the home of Leslie Molinoff (Unit #45). Present at the meeting were: Carole Princer Levy, President; Paul Spindel, Vice President; Monica Teuscher; Leslie Molinoff, Secretary; and Paul Roberts, Treasurer; - all of whom are Directors constituting a quorum. Also present were Tom Pallman, Property Manager, designated by our new management company, Ferrara Management Group, Jessica Brunelle, Assistant Property Manager and Dawn Lombardo, an additional member of the Ferrara team. Carole Princer Levy acted as Chair of the meeting and Leslie Molinoff took the minutes.
Call to order at 4 p.m.
Regular Board Business:
Minutes of the Board Meeting held on December 16, 2019 were approved and have been posted.
Paul Roberts reported on the bank balances as of December 31st:
Operating account $35,998.88
Capital reserve account $117,238.00
Signature Reserve acct (CD - matures 12-20) $254,036.24 (as of 1/21/20)
Signature CD (matures 3-20) $254,555.95 (as of 1/21/20)
Total Funds: $661,829.07
End of Year Surplus $3,474.00
Common Areas Report
Tree topping proposals will be obtained with the work to be done in February-March.
As previously reported, unit painting touchups will be done in the spring.
Also as previously reported, a new pool shed roof and painting repairs to the pool fence will be completed in the spring.
We are continuing in 2020 with Instant Aqua System (pool maintenance co.). A new pool pump will be installed before the pool is scheduled to open.
Reiteration of information from Ferrara Management Group
By now, you have all received a management transition letter from Ferrara Management Group, Inc.
You will be mailed a bill from Ferrara which you should receive on or about the 21st of each month. (February bills may arrived a little later due to the transition process. Payments are due the first of each month. Please note that there is a grace period for payments until the 15th of each month, but thereafter a late charge will be assessed. Regarding January payments, if you notice that your check has not cleared your bank yet, this is a result of the transition process and no late fees will be assessed.
Monthly payments can be made by E-Check, Monthly Automatic Debits (ACH) and, for a convenience fee of $14.95 per transaction, by Credit Card. Explicit instructions on how to set up your preferred method of payment was included in the Ferrara packet. If you have any questions about setting up an E-check or Credit Card payment method, please call the customer care division of Union Bank at 1-888-705-0600. You can also contact Louis Castellani, Accounts Receivable, Ferrara Management at 914-888-2099 for any questions regarding payments.
You can also pay by using your own bank’s online bill-pay service OR by sending a check (made out to Brookridge Homeowners Association) by snail mail to:
Brookridge Homeowners Association; c/o Ferrara Management Group, Inc., P.O. Box 531169. Atlanta, Georgia 30353-1169. PLEASE REFERENCE YOUR ACCOUNT NUMBER AS IT APPEARS ON YOUR PAYMENT COUPON. (Do not use this address for any other correspondence as it is only a lock box processing center.)
Ferrara Contacts:
Tom Pallman - Property Manager – 914-888-2099 x1030 or TPallman@ferraramngt.com
Jessica Brunelle - Assistant Property Manager – 914-888-2099 x1022 or at JBrunelle@ferraramgmt.com
Louis Castellani - Accounts Receivable, 914-888-2099 or Lcastellani@ferraramngt.com
Robert Ferrara – President – 914-888-2099 or Rferrara@ferraramgmt.com
Update on the Status of Unit #6
We have been advised by Wells Fargo Bank that an Executor has now been appointed for administration of the estate which includes the Unit #6 property.
Conversion to Condo Update
We are still awaiting approval of our Offering Plan from the NYS Attorney General’s Office.
There being no further business before the Board, upon motion made and duly seconded, the meeting was adjourned at 4:55 p.m.
The next Board meeting is scheduled for February 19th at 4:30 pm at the home of Monica Teuscher (Unit #43).
Respectfully submitted,
Leslie Molinoff, Secretary