Parc on Summit

 CONDOMINIUM HOMEOWNERS ASSOCIATION

Date:

November 16, 2016

GFK Offices: 100 W Harrison St, Seattle, WA 98119

6:30 PM

AGENDA

6:35 Call Meeting to Order

 

In Attendance:

Galan Potter                President

Victor Chan                Vice President

Alin Sirbu                Treasurer

Arash Taheri Lotfi        Secretary

Dena Lee                Board Member at Large

Anthony Supena        Resident Manager

David Silver                GFK Attorney

6:30-6:45 Homeowners Open Forum 15 min

6:45-6:50 Approval of prior months meeting Minutes - Attached

Motion to accept meeting minutes from October 2016 board meeting made by Galen Potter, seconded by Alin Sirbu, approved 5-0

6:50-7:05 Financial Report – Attached

*(As of October 31, 2016)

Discussion about paying down $100’000.00 for the Mutual of Omaha bank.

Association to follow legal obligations when unit owners make a prepayment by sending the money to the lender within the legal timeframe. The lender, namely Mutual of Omaha, will reamortize the loan for free once a year and any subsequent reamortization comes with a nominal fee.

Motion to empower the association attorney, David Silver, to work on creating a master repayment matrix for the reamortization of the association remodeling loan made by Galen Potter, seconded by Alin Sirbu, approved 5-0

Signed during the meeting.

7:05-7:25 Old Business- updates

 

The board set the preventative maintenance plan to finish by January 2017 meeting.

7:25-8:00 New Business/Items for discussion

Board discussed enhanced fines for owners that do not abide by the association short-term rental regulation, which bans renting for any period shorter than one month. The owners in violation of the short-term rental will be given an initial notice to comply and the board is continuing a discussion regarding setting a fine for first-time violators that disregarded the initial notice (possibly $100) and a separate, higher fine for the subsequent violations (possibly $500). More advice from the attorney and more time in the subsequent board meetings are needed to hammer out this rule.

Move-in & move-out fees should reflect the approximate cost that the association incurs per occurrence. No changes have been made during this meeting and further discussion will happen at future board meetings.

Storage units, per our association documents, are part of the association common areas; hence, the board has authority over their allocations. Anthony Supena will compile a list of storage units and their allocation by January 2017 board meeting for further discussion.

Source of the water damage is found and Anthony Supena will follow up with the repairs.

Anthony Supena has not yet heard back from Pioneer Cable. GFK management will follow up with the company and Galen Potter will email GFK management to provide them with the contact information of Pioneer Cable.

Thanks to Anthony Supena, our association received a $3470 credit from Seattle City Light. This credit will be deposited to the Special Assessment fund.

Each unit will receive a letter stating that they must remove their belongings from the shared (entrance) area in the storage sections to allow access for the bike racks to be installed.

Anthony will update the board members’ contact information by providing board member respective email addresses ending with @parconsummit.com. Any other form of contacting board members, i.e. calling them on their personal or work cellphone numbers is strongly discouraged.  

Executive session

Motion to send delinquent account(s) for legal action made by Galan Potter, seconded by Dena Lee, approved 5-0

Tabled Items

Adjournment

Meeting was adjourned at 8:30 PM