March 20, 2012 Board Meeting

(Please note this is a repost of the original post from March 23 which developed a problem and was not visible at the time.)


Treasure's Report
Treasurer reported budget items on track.
He also noted the Cooperative had received a report back from Sansone, which we hired a couple of years ago to see if they could get the Cooperative tax abatements from the town. Sansone reported they were able to obtain $32,135.39 in abatements from 2009-2011. By agreement with them, the total is split 50/50, so the Cooperative has received $16,067.70

Manager's Report
The manager reported the Energy Wise insulation program (installing new attic insulation, thermostats, aerators, shower heads, pipe insulation) is in final stages. Nassau Gardens cost is $75,000 (National Grid pays $180,000) and payback is expected in four years.
Renovation of 200 Block is underway with expected completion of hallways and exteriors expected mid-June.
The Board approved a contract for 30 new kitchen windows in the 200 Block, for $17,670 including installation.
Laundry room renovations and new equipment orientation meetings are being scheduled and will be announced.
The Cooperative has engaged a new landscaping vendor, Tony's Landscaping of Canton.

Stock Certificates
The amendment to the Cooperative's articles to modify procedures for assigning names to stock certificates is still working through legal procedures.

New Laundry Machine Contract
A member asked how much the new laundry contract would cost since the new machines will be debit/credit card (not coin) operated, and the banks take a percentage of all card transactions. None of the directors knew and the property manager said he thought it was "about three percent."
This news is troubling because that bank card fee was not disclosed by the vendor until after the Board accepted the laundry committee's report and recommendations. At 44,000 loads per year that fee, if it is 3%, figures to over $1,600 a year.

Tree Plan
Members from the 100 Block presented an outline of a plan they would like the Board to accept for new trees in the 100 Block courtyard, including an offer to purchase the trees at a wholesale discount.. The Board took the proposal under advisement.