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Keyes Corner Condominiums Annual Meeting

Keyes Corner Condominiums Annual Meeting. January 21 st 2014. Trustees: Anil Purohit Becky Fournier Kavita Kaushik Sarah Buchino Toozie Fuller. Agenda. Accounts (Income and Expenses) Outstanding Debt Year In Review Pending Projects Issue of the year. Accounts.

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Keyes Corner Condominiums Annual Meeting

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  1. Keyes Corner Condominiums Annual Meeting January 21st 2014 Trustees: Anil Purohit Becky Fournier KavitaKaushik Sarah Buchino Toozie Fuller

  2. Agenda • Accounts (Income and Expenses) • Outstanding Debt • Year In Review • Pending Projects • Issue of the year

  3. Accounts • Income (Aug 2012 – December 2013) • Expenses (Aug 2012 – December 2013) • Balance

  4. 2012 Income & Expenses (August – December 2012)

  5. 2012 Expenses Detail

  6. 2013 Income & Expenses

  7. 2013 Expenses Detail

  8. 2013 Expense Detail (Contd)

  9. Balance as of 1/21/2014 • Checking $17,408.74 • Certificates $100,166.34 • Total = $117,575.08

  10. Pending Collections • There is $9,616.00 outstanding debt collection from 13 units • 8 units – 1 month behind on payments • 2 units – 2 months behind on payments • 3 units – more than 2 months behind on payments • Emailed to one unit and met with one of the overdue units • Moving to Excel for storing resident monthly accounting information

  11. Year In Review (Jul 2012 – Jan 2014) • 8 mortgage refinances • Questionnaire • Insurance Information • Title V certificate • Proof of septic system cleaning • Deposit Information • Change of water meters • Building Powerwash • Bid for decks repair • Contractors slow in responding (each unit is different) • Two bids (one for ~ $60K, one for not to exceed $ 35K)

  12. Pending Projects • Playground Repair • Have information about contractor – should be done this spring • Inspection of the play structure • Deck Repair • To include front porches as needed • Got contractor bids – some badly in need of repair, must be done this spring/summer. Postponed due to winter. • Sealcoating • Changing outside light bulbs? • Vehicle/Pets Registration

  13. Other Issues • FHA Loan Approval – No action taken • Taxes Filing – Need to be filed. Last filed in 2010? • Septic tank – Inspection in Nov 2012, pumping it this week • Sprinkler Systems • Expensive and increased routine maintenance • There are other high priority projects where money can be better spent • Parking • No tickets or towing done so far • Need to come up with vehicle registration list and enforcement actions according to by-laws • Unit and Sealcoating • Last done in 2012? One of the pending projects • Outside repair • Sheathing for doors/garages

  14. Comments/Suggestions • Parking issue • Please do not park 2 cars in a one car spot • Makes it difficult for snow removal • Can cause an accident • Towing will be enforced • Kids toys in the driveway (Safety of kids is paramount) • Playing in the parking lot is prone to accidents • More than 2 carsare not allowed per unit • Keeping the community clean • Dog (or any other pet) owner should pick up pet’s feces • Garbage drop during heavy wind/snow • Residents should change their own outside light bulb?

  15. Issue of the year … Tree Cutting Reasons for removal • 5 out of 8 dead • Did not provide the buffer that they were intended for • Dead trees aesthetically unpleasant Where are we with the town? • Town ok with replanting in the spring Lessons learned • Check with the town before any changes to the landscape even if it belongs to the condominium property • Send a two week advance notice out to all residents before any exterior change planned to the community

  16. Q & A • Questions for existing trustees (last chance :)

  17. New Trustees Election

  18. Trustees For 2014

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