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1 <br />2 <br />3 <br />4 <br />5 <br />• <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />1 /1 <br />0 <br />14, <br />15 • <br />17 <br />100 <br />r% <br />4 1 <br />4,2 <br />• <br />4,3 <br />Attachment D <br />HRA Meeting <br />Minutes — Tuesday, November 16, 2010 <br />Page 2 <br />8. Presentations <br />9. Action/D�iscussion Items <br />Ms. Kelsey advised that representati <br />company were present. <br />ociation and their management <br />Jim Schunt er, Advantage T'own Home Management (AT'M) <br />Mr. Schum " Wher advised that there was currently one unit being marketed at $65.000, but that <br />............... <br />it had beewon the market for a lengthy time, and a short sale was currently being attempted. <br />-" ......... . <br />Mr. Sch", P11 mi" her advised that association dues., currently between $250 - $295 monthly, were <br />each unit's square footage. Mr. Schumacher noted that with the proposed <br />j V !, eme nts the current annual maintenance costs of $10 000 should be dramatically <br />IMPTO <br />reduced., allowing the LJA to increase their reserves; and estimated that the LJA currently had <br />approximately $25,000 in its reserve fund. At the request of Chair Maschke as to how the LJA <br />became aware of HIA' S., Mr. Schumacher advised that one of the homeowners had seen a <br />newspaper article related to an HI - financed prQject and brought it to the attention of ATM <br />staff. Mr. Schumacher responded to other questions of the Board, including timing for roof <br />replacement approximately twelve (I 2) years ago and needed boiler replacement, both <br />representing mqjor expenses in the overall funding request; and clarified that the common area <br />improvements consisted of improvements to the building's venting and mechanical systems in <br />the hallways, and not just for aesthetic purposes. <br />