July 8 Meeting

 Board members present: Sarah Wise, president; Larry Sagstetter, vice president;
Margie St. Jacques, treasurer; Hank French, secretary; Ann McNattin, member at
large.
Also present: Mike Severson, building manager.

I. Call to Order: The meeting was called to order at 6:28 p.m.

II. Secretary’s Report: Moved, seconded, and voted to approve the minutes
for the June 10 board meeting as written.

III. Treasurer’s Report:
a. For June 2024, the opening balance was $524,862.15 and the closing
balance was $538,593.94. This represents an increase from the
opening balance of $13,731.79. As of the end of June, we had
$67,858.09 in our operating checking account, and $470,735.85 in
reserve accounts. (Note: The reserve accounts are one operating CD
with North American Bank, a money market account with Premier
Bank, a Premier CD, an NAB CD, a savings account with Royal Credit
Union, and four CDs with Royal Credit Union.) Moved, seconded, and
voted to approve the Treasurer’s Report.

IV. Committee Reports:
a. Welcome Committee: There have been no new residents since the last
board meeting.

b. Recreation Committee: The committee is planning an outdoor parking
lot party for the Atrium community on Saturday July 27 from 11 a.m. to
4 p.m. The menu will be that of a traditional summer BBQ. Music will
be provided by “Ron and Bill” on accordion and keyboard. The
suggested donation is $10.00 per person. Please RSVP by July 20th. On
the bulletin boards near the main entrance and in the elevator lobby in
the basement you will find envelopes. Please write your name and unit
number and the number of people coming and place the donation in
the envelope. Then simply drop the envelope into the Atrium
Suggestion Box to the right of the elevators on the first floor.

V. Management Report:
a. Mike reported that Nardini Fire Equipment inspected our entire fire
safety system in June and that our system status is “Pass.” In response
to queries from homeowners, Nardini reported that it would be
impossible to install fire alarms connected to the system in individual
units without rewiring the entire building which would be cost
prohibitive. Nardini also reported that it would be impossible to
increase the volume of our current alarms with a system update which,
given our near-term anticipated expenses (roof and skylight
replacement), would also be cost prohibitive.

b. Mike reported that he has received from Michael P. Mullen CPA/PLLC
the Individual Accountant’s Review Report for 2023. The Accountant’s
Conclusion was: “Based on our review, we are not aware of any
material modifications that should be made to the accompany financial
statements....” Our thanks to Keller for accurate financial statements.

c. Mike reported that he has been informed by Plunkett’s Pest Control
that their invoices for services provided will reflect a 4% increase in
the future.

d. Mike will contact former resident and board member Chuck Linn to
see if he is available to be on call this summer for custodial/handyman
work as needed.

e. Roof and Skylight Replacement: Mike has received a bid from United
Roofing to replace our roof at a cost of $246,500 plus an additional cost
of around $20,000 for insulation as needed and to build the curbs on
which the skylights will sit. That is considerably less than the $631,000
estimated in the reserve study we commissioned last year and it is
very good news. It was moved, seconded and voted to approve the
United Roofing bid and Mike will convey that to them. We anticipate
that the work will be done in the spring of 2025.

f. Skylight Replacement Estimate: As reported last month, we have
received a proposal from W. L. Hall Co. to replace our skylights at a
cost of $273,782.00. Mike will continue to seek other proposals from
different contractors in the hopes of getting a lower cost. The proposal
from W.L. Hall Co. will be honored by them for one year. If we cannot
find a lower bid, we will accept W.L. Hall’s bid this fall so the work can
be scheduled along with the roof replacement in the spring of 2025.

g. Tentative Homeowner Assessment: The Board discussed a tentative
assessment amount to help cover the cost of the roof and skylight
replacements. Due to the lower than anticipated costs we are expecting
a much lower than anticipated special assessment. It appears at this
time that the assessment per unit will be in the neighborhood of
$1750. We stress that this is a tentative amount and can’t be finalized
until final costs have been approved and contracts are in place. Which
is to say, the assessment could be slightly higher or slightly lower than
$1750. Once a final amount has been determined, the Board will vote
to recommend it to homeowners who will then vote on whether to
approve the recommendation. A majority of all homeowners voting is
required to approve the recommendation.

VI. Old Business:
a. Excel Energy: Mike reported that Excel Energy has completed an
inspection walk-through of the building and has commended us for our
efforts to conserve energy. We will get a detailed report from them in
four to six weeks.

b. Generator: Mike reported that our rooftop generator, which had been
malfunctioning, has been repaired by Allied Generators so we have
backup power again in the event of a power loss.

c. Smoking: The issue of smoking in individual units remains tabled until
the next meeting.

d. Rain Garden Update: Nine chokeberry bushes have been planted in the
rain garden in the area next to the bridge and are doing very well with
all the recent rain. They will prevent erosion of the hillside and will
add beauty to the rain garden, particularly in the fall when the leaves
turn to a vibrant red.

e. Ash Tree Removal: Mike reported that the diseased ash trees on the
property (two on the west side and one on the east side of the
building) will be removed in the winter months when the ground is
frozen to prevent tearing up of our lawn by the tree services heavy
equipment.

VII. New Business:
a. Shoreview Recycling: Given dissatisfaction by several homeowners
with the large recycling dumpster, Mike has negotiated with Republic to
have our recycling carts returned and the dumpster removed. The carts
should be back this Thursday and we will return to our old system of
recycling. Cans, plastic and glass will once again go in the bins on the right
side of the door and paper and cardboard will once again go in the bins to
the left. Please continue to flatten all boxes regardless of size so the bins
do not fill up too quickly and please continue to rinse out all cans, plastic
and glass containers to prevent bad odors in the garage.

VIII. The meeting was adjourned at 7:57 p.m.

IX. The next Board meeting will be on August 12 at 6:30 p.m. Homeowners
are invited to attend.

Respectfully Submitted

-Hank French, Board Secretary