Treasurer's report:
- Board treasurer Pat O’Donnell provided the balances in both the operating fund and the reserve fund. Condo owners who would like to see financial reports can view them in Karen DeGraw's office, or see the documents page of "The Esplanade News," HERE.
- Individual board members asked for clarification on various expenditures. The board formally asked Property Manager Matt Brown if future reports could provide more detail regarding the nature of certain transactions.
Committee reports:
- Social Committee:
Committee Chair Sallie Zimmer announced via an email to the board that the recent wine tasting event was a success, and the committee is working on future social events.
- Safety Committee:
Committee Chair Pat Pound explained several items of note from a recent building walk-through: - There are plans/investigations underway for various building security issues.
- Items being stored on top of storage lockers continues to be a problem. Items on top of lockers not only impede fire sprinklers, but could be dangerous in the event of an earthquake.
- Storage of hazardous materials in lockers is prohibited; gasoline cans and propane canisters seem to be the major culprits.
- The back door of the Club Room, which is an emergency exit, is somewhat impeded by the storage of extra tables and chairs (see item below under Building Manager's report).
- An elevator panel in the fire control room just off the lobby has been a mystery for some time; no one seems quite sure what the panel controls. The current elevator company under contract with the HOA seemed unresponsive to the mystery, so a different elevator company was called in to investigate. Their report is pending.
- Finance Committee:
Committee Chair Tim O’Donnell explained that the committee is continuing to work on a template for simplified monthly HOA financial reports, to make them more readable for HOA members. Property Manager Matt Brown agreed to take the template to Condominium Management personnel, to see if the reports could be generated in that format.
Building Manager's report:
Below are a few of the projects that Building Manager Karen DeGraw is currently working on. This is not a comprehensive list of all she is working on - it is merely a glimpse of a few projects.
Below are a few of the projects that Building Manager Karen DeGraw is currently working on. This is not a comprehensive list of all she is working on - it is merely a glimpse of a few projects.
- Community Room and Club Room
Both rooms have been tidied up some, with a few donated furniture items, removal of unused items, and some slight rearrangement of furniture. Extra folding tables and chairs are currently being stored in the hallway at the back of the Club Room, however, the clutter of the tables and chairs is both unsightly and partially blocking the exit. To create storage space for these items, the countertop in that hallway will be removed.
- Upper garage door damage/replacement
A new door has been ordered and is being fabricated. Estimated time for building the new door is 6-8 weeks, as the company is currently very busy.
- Cleaning of dryer vents
Workers will need access to every unit next week to clean dryer vents. The following are the days that the workers will be on each floor; there is not a specific time they will be in each unit. They will work from 9 a.m. - 5 p.m. Please make arrangements for someone to be home or leave a key with the building manager. Make sure your dryer is easily accessible; remove everything on, in or near your dryer. - Tuesday, April 19th floors 2 and 3
- Wednesday April 20th floors 4 and 5
- Thursday April 21st floors 6 and 7
- Friday April 22nd floor 8
- Friday April 22nd floor 9 will be done from the roof, no access needed.
- Security measures
Karen has consulted with a contractor on the possibility of installing a security gate in the SE stairwell, which would require a key to access floors two and above in that stairwell. Per fire codes, the door into that stairwell from P1 cannot be locked (egress from P1 up to the outside is mandatory). Therefore, any other measures to secure the residential floors are moot unless such a gate is constructed. Karen will report back on her consultations.
- Carpet in front of elevators on residential floors
The carpet in front of the elevators seems to incur stains very quickly. Although carpets were cleaned this week, some of the stains cannot be removed. Karen received bids from two contractors for laying tile in front of the elevators, but the bids were upwards of $6,000 per floor. Because there is an abundance of excess carpet in storage and installation is relatively inexpensive, it has been decided to replace some carpet for now, starting on the 4th floor, which seems hardest hit.
- Styrofoam recycling
Unfortunately, the recycling center in Tacoma no longer accepts styrofoam. It has therefore been decided, for now, to pay for styrofoam recycling pickup. However, the rules for styrofoam recycling with the new service are different. They will not accept styrofoam peanuts, or styrofoam food containers, so residents can no longer place these items in the styrofoam recycling bin. All styrofoam blocks must be "clean," meaning no tape or stickers attached. Under no circumstances should styrofoam blocks be placed in the garbage chute! For complete information on garbage and recycling in the building, click HERE.
Old business:
New business:
- Commercial unit sewage pump failure
For the second time in several months, a sewage pump for one of the commercial units failed. The failure this time was the result of the pump being clogged with hair and women's undergarments - pink, by all reports (the undergarments, not the hair). It appears that the current pump is not adequate, and an upgraded pump is necessary. The HOA is negotiating with the commercial unit owner, to reach a clear understanding on current and future financial responsibility for this unit's sewage system.
- Bathrooms on building's north side
The company which originally built The Esplanade and sold all units, iStar, has requested that ownership of the exterior bathrooms on the building's north side be transferred to the Foss Waterway Development Authority. While the HOA board ultimately supports this transfer, clarity is needed regarding access, maintenance, HOA dues, property taxes, etc. for these units. Approval of the transfer was put off until the board could investigate further and clarify details regarding responsibility for the units.
New business:
- Saving money on insurance payments
For 2016, the building's insurance premiums are being paid out of an "insurance reserve fund" that was created last year. The creation of this fund allows the HOA to pay insurance on a yearly basis instead of a monthly basis, cutting the overall cost of the bill.
- New treadmill being ordered
An older treadmill in the fitness room recently suffered damage when water was spilled on it, and is now inoperable. The board voted to purchase a new treadmill at a cost of $5,200. The new treadmill will be the same model as the one recently purchased. The board also voted to discontinue providing paper cups in the fitness room; residents may still fill their own water bottles from the water cooler.
Special guest, Jami Block:
Jami Block from Commencement Bank was present to answer questions and give information about potentially higher-yield investments for the HOA's reserve funds. Information presented by Jami included:
- The suggestion that the HOA develop a written statement of its investment philosophy, prioritizing such factors as security, liquidity, rate of return, etc. (The board requested that the Finance Committee begin work on such a document.)
- A summary of several banking and investment products that the board might consider.
- Answers to questions about various investment products.
As part of the discussion, board members suggested that the reserve funds might be better invested in such products as treasury bills or laddered, longer-term certificates of deposit.
Resident questions:
- A few clarifying questions were asked regarding items above.
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