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Constellation House Unit Owners Meeting April 12, 2014

Constellation House Unit Owners Meeting April 12, 2014. Board’s Focus Y2008 – Y2014:. Priority: Owner and Guest Safety Build/Maintain a Firm Financial Foundation Improve and Contemporize Building’s Appearance. #1 Owner and Guest Safety Y2008 – Y2014:. Ramp pedestrian safety zone

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Constellation House Unit Owners Meeting April 12, 2014

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  1. Constellation HouseUnit Owners MeetingApril 12, 2014

  2. Board’s Focus Y2008 – Y2014: Priority: Owner and Guest Safety Build/Maintain a Firm Financial Foundation Improve and Contemporize Building’s Appearance

  3. #1 Owner and Guest SafetyY2008 – Y2014: Ramp pedestrian safety zone Oceanside sand walkway Storm Door standardization Previous bayside railing reinforcement Bayside railing replacement 1-Bedroom Security Partitions (Fall Y2014)

  4. #2 Build/Maintain Firm Financial FoundationY2008 – Y2014: Increase (100%+) reserve of previous administration Establish reserve buffer Finance projects without the need for special assessments Establish a comprehensive reserve study for capital expenditure planning

  5. #3 Improve/Contemporize the Building’s AppearanceY2008 – Y2014: Repair/re-coating of North, East (Oceanside) and South Facades Storm Door standardization Dune restoration and cleanup Fence restoration (both parking lot and dune) Western (Bayside) Elevation Project Future? (parking lot resurface, sliding door/window encasements, eventual roof replacement)

  6. Constellation HouseFinancial PresentationApril 12, 2014

  7. Constellation House “Reserve Funding” By Year 2007-2014 Board undertakes low-cost but critical safety oriented projects (sand walkway, railing stabilization)

  8. CH Reserve Fund $211,000 Constellation House Y2013 Financial Snapshot Reserve Contribution $69,490 $11,000 Condo Fees $146,320 Constellation House Operating Fund $76,830 Insurance/Flood $34,400 Management Fee $12,000 Administrative $1,500 Building Maint. $8,200 Water/Sewer $2,500 Elevator $3,300 Cleaning $6,300 General Supplies $1,600 Electricity $3,000 Audit/Legal $3,200

  9. Thanks for attending! Any questions?

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