Kimball Lofts HOA
Board Meeting Minutes
December 15, 2014
Members Present: Redd, Gardner, Brown, Hecker, Sullivan and Hedrick
The Kimball Lofts HOA Board meeting was called to order at 6:35 p.m. at the Hecker’s.
The November 17 meeting minutes were approved.
Treasurer’s Report
The Board reviewed the current cash flow report and delinquent dues report. Total income for October was $9079.07 and expenses were $4153.75 for a operating income of ($4925.32). The Board instructed Hedrick to make reasonable monthly deposits into the Operating Reserve account to continually grow the fund to pay for sudden large expenses. The Replacement Reserve will remain at $20,000. Discussion occurred regarding putting both reserve accounts into money market accounts to grow interest. Withdrawing cash to pay for large expenses wouldn’t be an issue. Hedrick will look into.
There were no major delinquent dues.
The Board reviewed the proposed 2015 budget presented by Gardner and Hedrick. A line item for pigeon removal/maintenance will be added.
Property Management
Ken has been ill and confined to his home by his doctor. Hedrick will continue to communicate with him regarding upcoming work to be done.
Old Business
Hecker provided and update regarding the 1516 Jones liquor license decision and future preparations for the state liquor commission meeting. A separate, private facebook page will be created specifically for discussions about 1516 Jones.
R.L. Craft of Iowa provided a bid of approximately $5000 to engage in masonry work on the front portico. Work needs to be done on the top roof part and in other areas. The Board will discuss at the next meeting whether or not to move forward with the work. Hedrick will follow up with the appropriate parties as to why repairs to the roof of the portico weren’t included in the previous hail damage claim.
New Business
The Board discussed the agenda for the Annual Meeting, to be held on January 25th, 2015 at 4:00 in the Community Room. Board 0fficers/members slate, the 2015 budget and voting manner will be included on ballots. A discussion regarding smoking will occur. At this time, the Board’s decision is to follow the nuisance provision indicated in the Declaration of Condominium and not create a specific smoking policy but determine nuisance on a “case by case” basis.
With no further business to discuss, the meeting was adjourned at 8:10 p.m. The next board meeting is scheduled to be held on January 19 at 6:30 p.m. at the Sullivan home.
Respectfully submitted,
Melanie Hecker
KLCA Secretary
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