A Mariner House Board of Directors meeting was held via telephone conference call on Tuesday, September 20. All Board members were present; President Bill Hathaway called the meeting to order at 6:02PM. Tracy Canty also participated.
PROPERTY MANAGER REPORT
- Mariner House was very busy in August with 92% occupancy. Things are beginning to slow down in September.
- There have been no further leaks in the window abutting the outside stairs in the Aurora bedroom.
- Air conditioning units will be disconnected but will remain in units through the winter, as we have no storage facilities. They will be reconnected next summer. Electrical costs did increase because of the added electric use.
OLD BUSINESS
- Susan Draggon has suggested a replacement cost appraisal for insurance purposes as the current Mariner House policy includes only an 80% replacement cost which assumes replacement at $425 per square foot. Given today’s financial and economic environment, this amount would be insufficient to replace Mariner House. This topic has been tabled for discussion at the next Board meeting.
- Three Association-held intervals are being sold, after which Mariner House will own only three. There is no further action on foreclosures.
NEW BUSINESS
- The 2023 draft budget was discussed. Any excess surplus 2022 funds will be divided between capital and operations funds. Tracy will verify with accountant. After discussion, Eileen Fox proposed moving building painting costs from the capital budget to annual operating costs. The motion was seconded by Mark Thurston and passed unanimously.
- The Annual meeting has been set for October 22, at the HyLine conference room. There will be three open Board positions in 2023. Kerric Harvey and Gloria Kunz will run again.
- Structural Engineer Stephen Goan was engaged to review the foundation issue along the India St. side of the building in which the brick wall is bowing out from the basement windows. Goan provided a detailed breakdown of the problem and made recommendations for repair. Eileen Fox moved to authorize a meeting to develop a repair plan and generate RFPs for repair, hopefully over the winter. Seconded by Tammy Rausch and passed unanimously. Tracy noted that Island masons were extremely busy and none that she had approached were particularly interested in bidding.
There being no new business or other items for discussion, Marty DeMartino moved to adjourn the meeting at 7:15 p.m., seconded by Mark Thurston and passed unanimously. As the Annual Meeting is scheduled for October 22, the Board will meet prior to that date if deemed necessary.
Respectfully submitted,
Gloria Kunz
Secretary