Underscore Chronic – “Unfavorable budget variance” aside, our Treasurer reported that the balance on the Barrington Bank loan is now about $923K. And the balance owed on the second line of credit is $318K.
The Looming Unfunded Mandate – We are presently gearing up to comply with the Life Safety & High Rise Ordinance. According to the 2014 Budget: “We have over a half a million dollars allocated to the installation of a fire safety communications system next year. This project must be completed by January 2015. This represents an unfunded mandate imposed upon our membership that we are required to address. As we do, we will be drawing from our reserve account.”
Pool to Open? Don’t Count on It – Weather permitting, next week Phase 3 of the Window Sealant Project begins. This drop happens to be over the pool. As such that area is closed off. That said, our property manager was kinda-sorta hopeful they’ll be done in time for Memorial Day. But the message was clear, i.e.“don’t count on it.” To quote Board Director Serap Brush, “The pool should not be a factor.”
And That Makes Lawsuit #5 – Board approved an update to the 22.1 Disclosure Statement. Word is that the update was likely to include but another complaint in our growing lawsuit portfolio. Cook County Circuit Court Case No. 2014L001312 makes 5.
The Old Girl’s Got Bad Veins – The Board approved the swing joint replacement for the 20th floor. But unfortunately, it’s not just there; the problem is systemic. According to our head engineer Robert Ceci, “It’s a 40 year old building and we’re just not seeing what behind the walls.”
Our engineers were at the Board Meeting to give an overview of the problem and to propose a possible solution.
First the overview: The swing joints effect the hot lines. There are 15 of them that appear on every 7th floor, i.e. 20, 27… etc. Kitchens have three and shared baths have three. They are not necessarily leaking but they need to be swapped out.
What Tom and Robert along with Lohr Plumbing are proposing is an experimental approach to fixing them using galvanized joints and an epoxy. However, they are not yet completely confident. The galvanized metal “could result in electrolysis” and “the epoxy could get into people’s valves.”
Smoke ‘Em if Ya Got ‘Em While You Can – The lawsuit-magnet Anti-Smoking By-Law Amendment was discussed. Board President and dentist Anthony Milazzo proposed: By-Law amendment to go into effect six months after ratified (not after it’s recorded legally making it a By-Law); smoker can get a six-month extension; board may require filtration; electronic cigarettes would be allowed in units. The following discussion ensued:
Director Brush proposed the ban include e-cigarettes because her research suggests, i.e. what’s she’s hearing out of Europe, is that e-cigarettes could someday be problematic. She proposed that we snuff them out now rather than go back to possibly ban them in the future. Director Greene was/is adamantly against the ban. He contends that the Board just has not done its due diligence on the economic impact on property value. In effect we are restricting sales to approximate 18 percent of the population. Board Director Gajderowicz was/is for a non-smoking amendment but thinks the 6 months timetable is not realistic. Director Del Monico was/is against it. She proposed we implement/try a measure aimed at filtering first. Milazzo was/is for the amendment. He wants to see smokers register and show proof that they’ve purchased an approved fan.
Note: There was no discussion of an individual’s rights to liberty.
The topic was tabled.
Editor’s Note: Where I do not smoke, the meeting surely gave me the urge.