Phase 2-1

 

Minutes

Fairway Mews Condominium Association

Phase II Section I

Annual Meeting 8.23.18

 

Attending:  D. Deter, B. Rutan, B. Mullen, J. Kenny, G. Grez

 

Meeting began at 7:00 p.m.  J. Kenny made a motion to approve August 23, 2018 minutes; B. Rutan seconded.  Motion passed unanimously.

Treasury Report: Ginny Grez reported Chase Operating Account $120,359.13; Capital One Reserve Account: $40,280,65; Kearny Bank: $100,951.14; Amboy Bank: $132,208.97; Total Reserve Account: $273,440.76. Total Assets: 393,799.89. B. Rutan made motion to accept; B. Mullen seconded.  Motion to accept passed unanimously.

Old Business: 

Board will discuss the addition of two more members to the Board. A decision will be announced at the November 26, 2018 meeting.

A management company sent the Board information on their services.  The Board does not think it is in the best interests of 2-1.  A final decision will be announced at the November meeting.

There were 4 residents who volunteered to help with major maintenance projects. Bob Mullen will discuss this at the November meeting.

New Business:

The Board would like to introduce a resolution for residents buying into Phase 2-1 to increase the membership fee (Title Transfer Fee).  Currently the fee $2,000.00.  A decision to increase it to $2,500-$3,000 will be announced at the November meeting.

Fall gutter cleaning of all units and garages will be the 3rd week in November. Total cost – $1,800.00.  Cleaning will be done by Exquisite Exteriors.

FMCA approved new rules and regulations concerning dumpsters and receptacles; commercial vehicles, unsightly units, no installation of generators and/or use of portable gas generators. Fines will be assessed to residents not adhering to FMCA rules and regulations. Rules and regulations will be enacted November 15.  Notice of this will be in the Mews News.

Balconies completed since August 23 meeting – 18, 21 Pine; 55, 65, 120, 113 Walnut.

Sidewalk replacement and cement plastering 98 to 104 Walnut is completed.

Rear sidewalk and cement plastering of detached garages from 23 -7 Pine in progress.

In progress, balcony at 75 Walnut.

36 balconies needed repairs; 6 remain.

Some balconies need gel coating due to worn fiberglass.  The cost to gel coat large balconies is $600.00; smaller balconies $350.00.  Will be done by priority.

87 Walnut was sold. Windows will be installed before official approval is given due to windows leaking/damaging the inside of the house.

The Board is discussing writing a resolution which would assess fines to resident owners who are in violation of rules and regulations.

New payment booklets for 2019 will be mailed to residents by the end of the year.  There will be an increase in maintenance fee for 2019.  Increase amount TBD based upon FMCA dues increase and insurance increase.  The Board has discussed shortening the grace period for maintenance payments from the current 2 weeks to 1 week. Announcement of Board’s decision will be made at November meeting.

A resident asked that reminder emails be sent to all 2-1 residents before the regular board meetings. A suggestion was made to put a flier on both entrances before the meeting.

Another concern was that his garage apron needed cement work. Resident was informed cement work is done according to priority.

Eventually all electrical meter boxes will be replaced.

A question was raised concerning the Title Transfer Fee. Concern was that new buyer’s must pay a membership fee to FMCA of $3,000.00 and if 2-1 increases their Membership Fee (Title Transfer Fee) from the current $2,000.00 to $2,500.00 that means new buyers may ask seller to reduce selling price by $5,500.00 – concern is that membership fees might affect re-sales.

The Clubhouse is equipped with a generator that will supply heat and electric for FMCA residents when power is lost for extended periods of time.

Next meeting– November 26, 2018. Conference Room.

Motion was made to adjourn by B. Mullen; seconded by J. Kenny.  Motion unanimously passed.  Meeting adjourned at 7:50

 

Respectfully submitted,

 

Joanne Kenny

 

 

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