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SUMMARY OF THE BOARD OF MANAGERS MEETING OF MAY 7, 2008

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  • The Board approved the draft financial statement for the year ending December 31, 2007 as prepared by Jack Lawrence & Company.  The statement will be mailed to all unit owners.

   

  • The NYC Tax Commission offered a 9% reduction in the assessed value for the condominium.  The Board accepted the offer on the advice of counsel. 

   

  • The Board approved the renewal of the HVAC contract with PAR Mechanical.

   

  • The Board reviewed the bids received from several elevator contractors to maintain the residential elevators.  The elevator consultant prepared a bid analysis, coupled with a performance evaluation for each company.  The Board resolved to contract with Centennial Elevator.

   

  • The Board approved the proposal from PlayMart Inc to replace the playground equipment in the Ruppert Towers.  The new equipment will also add a swing set.

   

  • The Board was informed that the valet vendor approached the sponsor to assign his lease to a new vendor.  The sponsor, owner of the commercial unit, is currently working with the new vendor to finalized the transaction.

   

  • The Board continues to work with the consultants regarding the submetering project.  It is expected that an educational meeting will be held in September 2008.

   

  • The 92^nd Street cutout plans are with the DOT for review.  As soon as the review process is completed and they approve the drawings, permits can be issued to commence the work.