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Shareholder Board Meeting Report

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MINUTES FOR RUPPERT HOUSING BOARD OF DIRECTORS MEETING SHAREHOLDERS REPORT

Date: September 17, 2008 Time: 7:30 - 10:30 P.M.

 

Board Members: Wilfredo Diaz Mark Foley William Lopez Liana MacMahon Dianne Blanchard Elizabeth Chimienti-Torres Carol Usiak Noel MacMahon Oscar Fernandez

Management: Nelson Dubidad Barbara Payne Sal DeGidio

Topic 1 - Minutes Review: The minutes of the July meeting were approved unanimously.

Topic 2 - Update on Quality Assurance Control:

A discussion regarding the release of the 236 funds by HPD was held and the impact it has on the Ruppert budget. The release of the funds will allow certain projects to go forward and others to be considered. Among the projects were

The hiring of a structural engineer to survey the garage and make appropriate recommendations

Rebuilding of the building water pumps.

Replacement of the E Building elevator mechanical systems.

The elevators in the E Building need to be refurbished.

The air conditioner in the community room is in poor condition. We will look into replacing it with a better system.

The restoration of wood panels in all buildings will be taken into consideration.

We are looking into replacing the carpeting in all three buildings.

We will be purchasing a Genie which is a hydraulic lift that will enable our men to clean in extremely high areas in and around the three complexes.

The Board is looking at proposals for new intercom systems for all three buildings.

The Board will be looking into a back up generator in the near future.

The C Building electrical panel.

Topic 3 - Maintenance Report:

Remaining apartments in the C building will have new steam traps installed in the radiators. There will be a memo sent out to all shareholders regarding the date and time. This is necessary in order for the heating system to work properly.

The exhaust fans are in the process of being replaced.

The situation with Con Edison regarding the exposed cables and wires in the C Building still continues. There was a concern that Con Edison was not cooperating with our electrician. The Board needs and will take stronger measures.

Topic 4 - Homeowners Insurance Reminder:

In response to recent shareholder experiences and losses, a resolution has been passed making it mandatory that each apartment must have its own Homeowners Insurance Policy. The purpose of these policies is to protect shareholders and their neighbors from damage or loss of their property. The co-op's liability insurance will not cover your belongings or any improvements that you made to your home. For example, if a resident's wood floor is damaged due to a water leak; the co-op's insurance will not cover the cost for replacement. It should be noted that this insurance is also necessary to cover any damages that affect another resident as well as you in the case of negligence

Topic 5-Cable Service:

The Board will not sign any contract with Verizon or Time Warner at this time. We still need to get more information from both parties.

Meeting adjourned @ 10:30 P.M

Next Meeting is October 16 @ 7:30 P.M.