When: Weds 03/10/04
Time: 8:00 PM EST
Where: Telephone conference call
Attendance:
David Parot, Village Director
Dana R. Clark, Village Director
Kurt Ries, Village Director
Joseph Boylan, Village Property Agent
Quorum established at 75%
The Following Items Were Discussed:
1.)
Authorized
Kurt Ries to become Association President
2.)
Authorized
Dana Clark to become Association Treasurer
3.)
Selection
of new Village Insurance agent
4.)
Village May 2004 Quarterly Assessment, not to include
Water/Sewer
5.)
Outstanding
Action Items
Signing of
the Insurance documents must be done by the Village Condominium Association
President. Village Association currently did not have board elected president
and Kurt Ries was unanimously elected to the position of Village Association
President.
In December
of 2003 the elected Village Treasurer James Thornton resigned from the
position. Dana Clark was unanimously elected to the position Village
Association Treasurer.
Discussed
the proper approach to election officers to the board, the following is a
snippet from current Village Association by-laws:
Section 1,
DESIGNATION
The
principal officers of the Association shall be a President, a Secretary, and a
Treasurer, all of whom shall be elected by the Board of Directors. The
President shall be elected from the present members of the Board of Directors.
The Directors may appoint a Vice President, an Assistant Treasurer, and an
Assistant Secretary and such other officers ,as in their judgment might be
necessary.
The Village Directors voted and unanimously to select Dave Schram of Nationwide as the Village Insurance agent.
Kurt will be retrieving a check from Joe Boylan and meeting with Dave this 03/11/04 to sign papers as the Village Association President.
-03/11/04 Nationwide is a done deal, signed, sealed and paid
Discussed proposals from the various agents that submitted quotes
-See appendix A for details and see summary for prime candidates below
Village Insurance Quote Summary
3/10/2004
|
Agent |
Insurance |
Rating |
Type |
Coverage |
Deductible |
Cost Prop/Liab |
|
Paige Campbell |
Lloyd's of London |
A |
Assc. Prop |
1,770,000 |
2,500 |
11,113.60 |
|
|
Penn America Insurance Co. |
A |
Prop Liability |
1,000,000 |
|
1,511.57 |
|
|
VT Mutual |
|
Direc Liability |
|
|
879.43 |
|
|
|
|
|
|
Total |
13,504.60 |
Page and Campbell down payment, 25% down + D&O coverage $4,114.43
|
Agent |
Insurance |
Rating |
Type |
Coverage |
Deductible |
Cost Prop/Liab |
|
Nationwide |
First Specialty Ins |
A+ |
Assc. Prop |
|
500 |
9,435 |
|
|
First Specialty Ins |
A+ |
Prop Liability |
|
|
1,704 |
|
|
US Liability Ins Group |
|
Direc Liability |
|
|
950 |
|
|
|
|
|
|
Total |
12,089 |
Kurt spoke with Jim Hendershot of Paige and Campbell, 03/10/04
Reviewed proposed policy holders, coverage, deductibles & property liability
-See summary table above for details
Kurt spoke with Dave Schram of Nationwide, 03/09/04 and the Director & Officer Liability quote came in at $950. This is about a $100 more than we were currently paying, however with the lower property/liability insurance Nationwide is offering, Nationwide is still $1,415.60 less than Paige and Campbell along with a Nationwide deductible of $500, versus Paige and Campbell deductible of $2,500. I reviewed the quotes w/ David once again, and he insures me it is the same coverage we have w/ our current Arcadia policies.
Details on Nationwide financing:
$13,023.17 total premiums
$ 3,630.79 downpay
$ 9,392.38 amount financed
$ 602.39 finance charge
--------------------------------------------------------------------------
$ 9,994.77 total of payments - 9 installments of $1,110.53
Village Director voted unanimously to pursue Redstone to invoice owners directly
-Joe B sent memo to Redstone and following up w/ phone calls 03/24/04
-May quarterly assessments will not include water and sewer
-Kurt sent memo to all owners that included no w/s notice 03/25/04
5.) Discussed Outstanding Action Items:
Kurt to author a letter to Paige and Campbell insurance, indicating Village Association will not be going with their proposals and thanking them for their time and past support.
-Complete, received acknowledgement 03/15/04
Collection of outstanding funds Bolton MOD before 04/04/04
-Complete 04/09/04
Completion of Vinyl siding quote, procure an install date and bank loan
-Complete 04/10/04
Life Safety to install fire monitoring system
Contact Leigh Sykes ( 802-864-5772) and take over inspection and maintenance, 01/23/04
-Kurt emailed Joe B specifics on 03/05/04 and given direction to engage Sykes
-Monitor installation complete 04/06/04
Insure Manage Agent has all Unit/storage keys
-Joe B pursuing missing six keys
Joe B to continue to actively pursue delinquent Association assessments
-Two notifications have gone out this year to delinquent owners, the last one certified mail
-2/26/04, 2nd notification letter collected $4,140.67, with an outstanding balance of $21,255.26
Follow up on lean against #226 William Donahue
Bolton Town Clerk, 3045 Roosevelt Highway, Bolton, VT 05676
Debbie LaRiviere, Tina Atwood , 802-434-3064, 802-434-5075, dlariviere53@yahoo.com
-Not certain if MOD actually filed lean with town
-Lean needs to updated w/ additional delinquent fees
-Kurt to fax Notice of lean to Joe B 03/15/04
-Joe B confirmed there is a lean with the town of Bolton, 03/25/04
Follow up on Village Condominium Frozen Sprinkler Claim, Arcadia #4033174
-Kurt pursuing w/ Arcadia 03/15/04
-Complete, received claim check 03/31/04
Contact legal representative, put on retainer?
-Joe B suggested Stuart Benett as legal resource out of Shelburne
-Pursue delinquent Association dues
-Pursue any need Bolton property management issues, ie in-question invoices
-Assist in review and update/filing of by-laws
-Pursuing by-law offenders, ie, heating with firewood
-Address Terese Ayers window replacement
-Adding mandatory owner insurance to by-laws
-Adding Assco. Ins payments to owner not to include deductible to by-laws
-Owner must give unit key to Village Property Agent
Replacement of aged Village unit hot water heaters:
Kurt has identified hot water heaters that need replacement and made arrangement w/ Green Mnt Power to replace
-Kurt to mail GMP agreement to Owners for signature 03/15/04
-Kurt to contact Joe B with details on arranging installation dates w/ GMP
-Memo went out to owners affected 03/16/04
Memo to go out to unit owners, next heating season, in regards to heating units during extreme cold snaps
-Mail in November 2004
-Discussed the idea of using electronic/telephone temperature monitors in part time occupied units
Contact All Season Siding for details in writing on moving forward with siding this spring
-Donna confirmed the roof facia is to be clad-ed white, will complete with the rest of building siding
-Need quote that includes chimneys and possibly ramps
-Need details on money down and how long to pay outstanding 0% interest loan
- Installing pipe/drain insulation
-Dave to work w/ All Season, Dana to work w/ bank loan
Renters Code of Conduct Document
Kurt and Dave discussed and emailed action plan to Directors 02/19/04
Directors approved the action plan 03/01/04
-Develop a Village Renters Code of Conduct document to be signed and distributed with MOD Rental Pool agreements
- Insure rental lease for Village unit #326 does not get renewed in April
-MOD Rental Pool agreements post to our web site 02/19/04
-Renter in #326 have pretty much violated every by-law and MOD agreement
-Kurt spoke with Darlene on MOD 02/17/04, she is indicating, only the owner can make decision to not renew lease
-We do not see a timeframe for notification of not renewing lease, but would not let this go to long
-Dave spoke w/ owner Michael Plentus and will contact again specific to not renewing the lease
Village 2003 annual association meeting minutes
-Joe K spoke with Donna MOD, she indicated they will not transcribe the tapes
-Donna to send audio tapes to Kurt
-Kurt has not received the tapes as of 03/15/04
====================
Paige and Campbell Inc.
====================
Paige and Campbell Inc.
5197 Main St. Suite 3
Waitsfield, VT 05673-7328
Jim Hendershot
Judi Buczkowski jbpaige@wcvt.com -Commercial Accounts
802-496-3118, 1-800-501-7355, Fax-802-496-6255
Status Paige and Campbell Inc.
------------------------------------------------
Dana and Steve Mcleod following up with Jim Hendershot
Steve to call Hendershot 02/04/04
02/27/04, Hendershot not returned any calls for Dana or Steve M
02/27/04, received property quote, $11, 113
03/01/04, Kurt spoke w/ Page and Campbell, will not be able to get details until Hendershot returns from vacation on
03/10/04
03/04/04, Kurt spoke w/ Page and Campbell, OK to discuss w/ Hendershot on 03/10/04 and still get down payment in on time
====================
Essex Agency
====================
Jeffrey Lyon, Account Executive
The Essex Agency Inc.
PO Box 239
Essex Junction, VT 05453-0239
802-878-5334 ext 112
email address: jeff@essexagency.com
Status Essex Agency:
---------------------------------
Kurt working with Essex Agency
All forms completed and faxed to Jeff for quotes on 02/05/04
02/13/04, Jeff pursuing 3 brokers, Penn America quote came in at $24,389.12, however from soliciting these types of quotes in the past expects the S&H Underwriter and Berkeley quotes to be less. Jeff following up on S&H and Berkeley.
03/03/04, Century Insurance quote $17, 427, $5,000 deductible, Replacement cost
03/05/04, Jeff pursuing brokers for quotes today that we expect to come in lower
03/10/04 does not look like the additional quotes are going to make it in on time
03/10/04 Jeff mentioned he went to the same Ins broker also, surprised Page Campbell has such a low quote
thx - Ron Bouffard
S&H Underwriters
802-229-5660
fax: 802-229-5669
www.sh-underwriters.com
=====================
Hickok & Boardman, Inc.
=====================
Hickok & Boardman, Inc.
346 Shelburne Road
PO Box 1064
Burlington, VT 05402-1064
(802) 658-3500 (phone)
(800) 639-1655 (toll free)
(802) 658-0541 (fax)
www.hbinsurance.com
Tammy Lawrey, CPIW
Account Executive
Hickok & Boardman, Inc.
"Lawrey, Tammy" <tlawrey@hbinsurance.com>
Status Hickok & Boardman, Inc.
----------------------------------------------------
Kurt working with Hickok & Boardman
Forms completed and faxed to Tammy for quotes on 02/05/04
Tammy cannot pursue further until we sign Broker of Record statement indicating Hickok & Boardman, Inc. are the sole agent representing Village Assoc.
02/06/04, Dana and Kurt discussed the Broker of Record statement and decided not to sign until we have an indication of what the quotes are from the other agents
====================
Nationwide
====================
Nationwide Ins.
595 Dorset St.
South Burlington Vt
Atten. Dave Schram <schrand@nationwide.com>
1-877-863-9914
Fax 802-863-9918
Status Nationwide:
----------------------------
Joe Boylan pursuing Nationwide
Forms completed and faxed for quotes on 01/21/04
02/12/04, Joe B spoke to agent, expecting quote this week
02/24/04 Dave S mentioned quotes probably not going to ready until 03/08/04
03/09/04 Joe and Kurt spoke w/ Dave we have quote for 11,773 that includes prop coverage and Liability
==================================
Bryan, Holmes & White Agency
================================
Prospective contacts:
Ted Lambert at Poulous Insurance in
Morrisville?
Donna Bryan of Bryan, Holmes & White Agency - Rochester, VT
Status Bryan, Holmes & White
----------------------------------------------------
Steve M awaiting to hear from directors on whether to contact or not
02/12/04, Dana and Kurt discussed, because Agents want a BOR Statement signed giving exclusive rights to the Agent to represent Assoc., and the same broker are being solicited by Agents currently engaged we are holding on bring in additional agents