Our current president, Joe Engle, provided an overview of the board activities over the last year as well as identifying some new projects for 2011. Joe reported on the completion of the elevator, entryway, building security system and garage cleaning/striping projects. He thanked Dot Lee for her outstanding efforts in coordinating the garage cleaning and striping project.
Joe reported that the northwest balcony project was due to resume in about two weeks after a lengthy delay primarily due to demands made by the City of Redondo building inspector.
Projects that are planned for 2011 include repouring the driveway, resolving the G2 and G3 water intrusion problem on the east side of the building, replacing the entranceway handrails, installing protector guardrails for the garbage room doors and replacing the retaining walls on the east and north side of the building.
Mr. Engle summarized the 2011 budget problem we are currently facing. The Association income over the last several years has been fixed at $252,000 while the Association expenses over the last two years have risen to $272,000 creating a $20,000 shortfall. A recent survey by the board indicated that most homeowners would prefer to have special assessments each year to cover this income gap rather than have their monthly Association dues raised
Sheri Nielsen reported on the results of the election ballots. Frank Parker, Joe Engle, Diane Merzel and Betty Schneider were reelected to the board. Joseph Jetsyn Tache replaced Jake Murray as the fifth member of the board. Mr. Murray will be missed by the Association as an active board member. He has been a major contributor to Association projects and has actively completed several projects himself thereby saving the Association the expense of hiring a contractor.
The new board met after the Annual Meeting and voted to utilize special assessments, in lieu of raising the monthly dues, to cover the 2011 income gap. The assessment can be paid in two equal parts, the first in May and the second in October 2011.
Because of archaic California rules, the minutes for this meeting will be approved at the next homeowners meeting in December 2011.