August 3, 2009

Approved on December 1, 2009

The meeting was held at the residence of Stuart and Virginia MacPhail, 1133 Race Street.  The minutes were taken by Eric Guetterman.  The meeting was called to order at 7:34 pm by Patrick Wobst.

In attendance were Patrick Wobst,  Stu MacPhail, and Eric Guetterman.  Ken Coombs was not present but participated in the meeting via speaker phone.

The minutes from the last board meeting were not available for review or
acceptance.  Pok Payattakool Sergent was not in attendance but previous to this meeting she had submitted her request to the board to resign from the Secretary position.  Stu moved to appoint Eric Guetterman to the Secretary position, Patrick seconded the motion and it was unanimously approved.

The subject of our building insurance coverage was discussed.  Kelli Sperling with the Ed Casey Insurance Agency had investigated the valuation and replacement costs of the building which Patrick presented to the board.  Her findings showed a building replacement cost of $967,200 while our current coverage was limited to $762,262.  To increase the insurance coverage to the current estimated building replacement cost would increase our premiums to $4407 from the current $3570 with the existing $500 deductible.  Ken moved to increase the building insurance coverage to the current replacement cost estimate of $967,200.  Patrick seconded the motion and it was unanimously approved. 

The condition of our existing heating boiler was discussed and three replacement bids were reviewed.  Stu moved that Patrick Wobst be authorized to sign a contract on behalf of the 1349 Race Street Condominium Association between the Association and Aspen Air & Mechanical, Inc.  for replacement of the building's heating boiler and related equipment as spelled out in detail on the Aspen Air Bid #PJS071009-1, dated July 28, 2009 and also including Option #1, and related electrical work, and one redundant non-proportional-pressure pump, and a replacement man door for a total amount not to exceed $20,000.  Ken seconded the motion and it was unanimously accepted.

The subject of the continuing trash theft and grafitti was discussed but no action was taken.

The board members agreed to use the subject of the insurance value of the building and total value of building and interiors and exteriors as an education subject.

The meeting adjourned at 8:52 pm.