These are personal notes taken by Rick Basch at the April 22, 2010 Special Board
Meeting.
They are not the official Minutes of the meeting.
This was a special Board meeting held for the purpose of voting on seeking
Federal Housing Authority (FHA) approval
for our building.
| Unit Owners' Forum: The unit owners forum started before 7:15 pm. There were more than the usual number of owners present. - When I came in, there was a young woman already speaking to the Board about a problem she was having with her parking space in the Winona lot. Board member Chris asked her if she was an owner and she said no. Our Board president then told her the meeting is for owners only and that he would read her letter and address her issue with the property manager later. The woman thanked the Board and left the meeting. - An owner from the 25th floor, and an owner from the 8th floor, both asked about the FHA proposal. There was a general discussion about FHA mortgages. An owner from the 27th floor said being able to get FHA mortgages would help people buy units in our building if they couldn't qualify for a regular mortgage and would make our building more attractive to buyers and is good for us. Board member Joanne said she saw a TV commercial for a new condo building downtown that offered FHA financing. Board member Dan said being FHA-approved would keep our building competitive with other buildings that do allow FHA financing. There were some other comments regarding FHA from the Board members and from the owners. - The owner from the 25th floor also commented on the holes in the travertine tiles on the second floor and that it looks very unattractive compared to the tile floor we used to have. The Board president said that is the nature of travertine, which was suggested by the decorator, and it is widely used in buildings. He said the holes will be filled in and the tiles cleaned as part of regular maintenance once a year. Dave, the property manager, said we have the equipment to maintain the tiles. There being no other questions, the Board meeting was started at 7:32 pm. ================================================================================ Board Meeting: The Board meeting started at 7:32 pm and ended at 7:40 pm (8 minutes). All Board members and the property manager were present. Rose Marie Wert, the management company representative was absent.. This being a special meeting, there was no Management Report or Treasurer's Report. FHA Approval: - Board member Dan made a motion that we seek FHA approval for our
building. Board member Joanne seconded the motion. Board member
Chris thought it could be a problem and suggested we keep an eye on delinquencies.
The vote to seek FHA approval was unanimous. |