T.E.N.O.A.
Committee Meeting
2nd August2016
Attendees:Alan Henderson (chairman), Jane Brook, Rodney Matthews, Pete Wilcock, Alastair Byres
Apologies: Graeme Ferguson
Matt and Marc attended part of the meeting on behalf of The Element Factors (TEF)
1. Welcome
2. Previous minutes
a. It was noted that several Action Points for The Element Factors (TEF) were still outstanding
b. Amendments to the website
Action: JB to meet PW
c. Maintenance Fund – see below update
3. Matt Henson meeting update
AH reported that at his meeting he raised the continuing concern regarding outstanding debts.
MH confirmed that responsibility for this is now with SimoneMyburg (SM) and Joanne Weir (JW),
including contact with Blacklocks, solicitors.
Decrees have been served on some of the owners and all properties that have court action taken
against them have notices of potential liability. This means that these properties cannot be sold
without this liability being indicated to the new owner.
FMhave an outstanding debt of £9,900 of Factors Fees pre July 2015 and £15,840
Maintenance Fund payments. This has come to court on two occasions and on each occasion,
new issues have been raised by FM, thereby further delaying payment of these debts. A further
court hearing is due in August at which AH has asked to attend. PW may also attend.
Action: MH to inform AH of the date ASAP
4. Maintenance Fund
a. The subgroup met to prioritise the essentialmaintenance issues with an initial budget for year 1 of £100,000 (278owners x £360)
b. Jakub is in the process of obtaining quotations from relevant contractors. JB reported that Block 10 has major issues regarding urgent repairs to the roof which will need addressing before the winter.
Action: Jakub to update the subgroup
c. F3 Surveyors are in discussion with NHBC regarding several outstanding claims that have been reported within the statutory timescale.
Action: F3 to update the subgroup
d. Owners will be notified by TEF prior to the TENOA AGM in September of details of the
Maintenance Fund (compared with Factors Fees) and of the level of payment (£360) they will be
liable for with payments commencing 1st October 2016.Reference will be made to the Deed of
Conditions and owners can pay the full amount or stage payments by standing order over 12
months. There will be no discounts for early payment.
Action: TEF
e. All outstanding payments from the previous Maintenance Fund will be pursued. A reconciliation
is required from Hot-el-Apartments and Ocean Apartments regarding costs incurred by them in
lieu of Maintenance Fund payments to the previous Factor.
Action: 1. TEF to pursue the Maintenance Fund debts
2. OA and Hot-el-Apartments to provide a description and receipts for work completed.
f. TEF to open a separate bank account for Maintenance Fund payments. Funds will then be
transferred from the dormant existing RBS account (£1,509.35).
5. Future Procedure re-TENOA committee
RM to prepare a paper about the committee to be circulated to owners prior to the AGM for information. He will also present the suggested changes orally to the AGM before elections take place.After the AGM the committee will adopt the detail of RMs original paper, as already
discussed and agreed.
Action:Paper to be circulated to owners prior to the AGM
RM also produced a paper on “Committee Code of Conduct” which he recommended is adopted
by the committee
Action:Comments and feedback to RM before next meeting.
Matt Henson and Marc Myburg joined the meeting.
6. AGM planning
a. 7th Septemberhas been set for the AGM. There will be two committee vacancies. AB is
standing down and RM, who was co-opted earlier in the year will be standing for election.
Action: PW to circulate Email to all owners ASAP advising of the date plus requesting
nominations for new members of the committee. These nominations to be received by 31st
August and voting will take place at the AGM. The above notification also to be placed on each
Block notice board.
b. Papers to go to owners by 24th August (14 days prior to AGM) to include the Factor’s report,
TEF annual accounts, Chairman’s report and RM’s paper as well as the standard AGM
documents. These will be Emailed to owners and put on the TENOA website. Hard copies will be
provided, on request, at the TFL office.
Action: AH, MH, PW to coordinate
c. It was agreed that we would use Shanks Accounting & Advisers Ltd to produce an
Independent Accountant’s Report on the TFL’s annual accounts to 14th July 2016. The cost will
be £350 unless significant irregularities are encountered, requiring further investigation.
7. Update – The Element Factors Ltd - Finances
Simone had previously circulated summaries of the financial data. Finance remains critical. Income in July, to date, is £27,797. Target income for the month is £32,243. July expenditure to date is £18,980 but there are additional payments due.The major outstanding creditors are the electricity suppliers at £36,621. This debt is being paid in instalments.
Debt collection remains the priority for action with FM the main debtor (see above).
Action:
a. TEF to confirm to AH the date of the next court hearing of FM’s case.
c. TEF to circulate the debt collection and insurance claim procedures to owners.
d. TEF to include the current electricity debt situation in the next Factor’s Newsletter.
d. PW to post c. and d. on the TENOA website
8. Update – Baltic Management Solutions
MM reported that because of the continuing lack of funds, apart from the re-painting programme only essential maintenance is being carried out.
9. Critical Risk Analysis
See above item 4. Maintenance Fund
10. AOB
a. Several insurance claims from owners are being pursued by TEF
b. An owner has contacted TEF and adjoining developments regarding some of the grass verges adjacent to the developments and by the No 10 bus stop. It was agreed that given the critical financial position of our development, this would not be a priority but City of Edinburgh Council will be contacted regarding those areas that we believe are their responsibility.
Action: TEF
c. HyperOptic have completed their survey of our broadband in order to improve the
service. Owners will be contacted by the company.
Next meeting: Wednesday 24th August at 6pm
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