Brentwood Liabilities Current with all bills as of 8/1/2009
Cash Position as of 8/1/2009 Operational account = $27, Reserve Money Market = $20, Total = $58,466.39
Assessments by cash July$58, Laundry $ 2, Expenses$67,424.12
Labor Requirements – Additional part time labor is needed. – Ad was placed – 120 responses received. 8 called, 4 interviewed, 1 stood out. – Votes will be made tonight. – Short term, primary duties will center on building interior walls and ceilings – drywall, paint. – Long term status completely dependant on financial resource availability.
Economic Reality – Property values depressed – Loss of equity – Financing difficulties or impossibilities – Easy to simply walk away – Danger of mass exodus – Foreclosures A costly circle – Condos or apartments? Fundamental question for every Owner Amending the Declaration
CPTED Requirements for certification: Landscaping (Compliant) Lighting (Any needs will be defrayed to allow for budgeting) Community Social (Will be last step prior to certification ) Secondary Unit locks / Unit security All Unit windows / sliding doors are required to have secondary locking mechanisms installed. Requirement deadline was July 31 st. Association has been enlisted to install on several units. Visual inspections by Board will be made in next few weeks, non-compliant unit owners will be notified. Current realistic target for fulfilling all requirements – October -09.
Accomplishments / Challenges Last 30 Days Reserve now over $20,000 (Richard) Basement locks changed (Staff) Continued cleaning hallway carpets (Contracted) Agreed to additional staff to accelerate hallway recoveries. (Board) Power washing of awnings / entrance concrete areas (Pat, Staff) Trimmed / removed trees, chipped into rough mulch – likely finished for this year. (Rebecca, Pat) Evicted an Owner for non-payment of assessments (not sure this is an accomplishment…) Next 30 Days Continue to drive open projects as funding allows (Pat, Staff) Prioritize hallways for cleaning, patching, painting (Pat, staff) Violation inspections / Notices (Pat, Rebecca, TBD) – carry over Drive toward CPTED certification (All) Continue to work on collections (Richard) Develop 1 st pass at 2010 budget Begin preparations for winter…