July 2020 Board Meeting

Attendees: Present from the Board were Justin Boeckler, John Gensinger, Asim Ghulmani, Jorge Orozco, Mark Selz, and Lisa Whitley. Representing Wilson Property Management, Jeb Black. President Mark Selz called the meeting to order at 6:09 PM. A quorum was established. Lisa Whitley recording minutes.

Homeowners’ Forum: No homeowners present.

Approval of Minutes: Previous meeting minutes were approved and will be posted to the website.

Treasurer’s Report: Jeb Black reviewed Balance Sheet as of May 31, 2020 and Budget Comparison through May 31, 2020 with Board members.

• Balance Sheet: Funds are accumulating.

• Budget Comparison: Special assessments still coming in at this time, but cannot charge late fee/foreclose/follow normal penalty procedures.

• Capital Expenses:

  • Nothing excessive to review.

  • Line 5132 Building Repairs and

  • Line 5137 Decks: rails, siding for common areas

  • Line 5503 Utilities: Water expense is up a little, likely due to increase in rate by City of Raleigh.

  • Line 5603 Legal: Collections, liens

  • Line 5133 Roof: Roof replacement: 9 buildings have been inspected and they are in good shape, but will require replacement (due to age). Plan to inspect other 9 buildings this year, then come up with a plan of replacement.

  • Line 7084 Insurance 10k: Total of $1,552 so far this year

Management Report: Jeb Black provided details of the management report. Items of discussion included:

• 2000 Building damage: tenant ran into building with car, smashed corner of building. Engineer called for evaluation, estimated repair of $10,000. Tenant’s insurance has been contacted, awaiting a call back at this time.

• Fire Inspection: due for 10 year inspection on sprinkler heads. They can pull 10%, send for inspection. Total of 72 heads (4 per building x 18 = 72). Gauge replacement: 5 year check valves/gauges. Estimates $30k (usual company) up to $42k.

• Power washing will take place June 27-30 on breezeways, steps, and building siding.

• Parking lots: obtaining estimates for repairing holes/craters (likely from garbage trucks) in progress. Will get estimate for sealing as well.

Old Business: None.

New Business: Items discussed:

• Exterminator bill for bird mites: HOA has been asked by the owners to pay for Triangle Wildlife to remove bird ($150). Motion to not accept responsibility for this bill, it is the owner’s responsibility by Mark Selz, second by John Gensinger. All present voted in favor, no one opposed. Request denied.

• Discussion regarding $200,000 in CDs to increase income: Jeb Black will seek 0.5% 6 month CDs and stagger 4 $50,000 CDs. Motion by Mark Selz, second by Lisa Whitley, All present voted in favor, no one opposed. Motion approved.

• Next board meeting TBD.

Motion by Mark Selz to adjourn meeting. Seconded by Lisa Whitley. Meeting adjourned at 7:14pm.

Minutes submitted by Lisa Whitley. To be approved at next Board Meeting.