Meeting Minutes - Feb. 25, 2002

MUSEUM PARC RESIDENTIAL ASSOCIATION
BOARD OF DIRECTORS MEETING MINUTES

Date/Time: Monday, February 25, 2002 @ 6:00 p.m.
Location: 730 Harrison Street – Fifth Floor Conference Room
San Francisco, California

Attendees: Peter Hartman, President
Jim Bourgart, Vice President
Neil Rains, Secretary
Ellen Kiyomizu, Resident/Appointed Board Member
Michael Alfaro, Property Manager

I. APPROVAL OF MINUTES:

1.23.1a A motion was made and carried to approve the January minutes.

II. HOMEOWNER ISSUES:

1.23.2a The following two homeowner issues were raised at the board meeting:

A resident in attendance of the meeting asked if the excess (black) drain board installed at the grassy area of the courtyard could be removed. Management explained that they would have it removed as soon as possible.
A resident in attendance of the meeting questioned why the hall ceilings were not painted as part of the scope of the interior hall painting. Management explained that the ceiling paint was in good condition and that Stavi (interior designer) felt that this would be an area were the association could save money and not sacrifice the overall integrity or appearance of the common areas. Management further explained that once the project is complete that Architectural Committee would review the finish product and determine the need for additional changes.

III. FINANCIAL REVIEW ITEMS:

1.23.3a Management provided the board with copies of the monthly assessment delinquency reports prior to the meeting. Management explained that $9,182.19 of the $12,932.52 in delinquent assessments are comprised of (3) accounts that are 90-days past due. Management further explained that the owners who are 90-days in arrears have been sent to a collection agency. Management also provided the board with the collection agencies account status summary.

IV. MANAGEMENT REPORT:

1.23.4a Management reported on the following matters:
§ Action Matrix-Management provided the directors with a copy of the Action Matrix. Management summarized the various maintenance related activities of the association for the month of February.

V. OLD BUSINESS ITEMS:

1.23.5a Common Area Remodel-Management reported that the common area remodeling plan is currently underway. Management submitted a Remodeling Summary Matrix to the Board. Management provided the board with the following progress summary:

Hall Paint-Complete.
Elevator Lobby Vestibules-Complete.
Furniture-The furniture is ordered.
Light Fixtures-Light fixtures have been installed on floors 8-15.
Carpeting-The carpet has been ordered.

1.23.5b HOA Web-site-Management explained that the infrastructure of the web-site has been constructed. Management reported that the web-site is up and ready for review.

VI. New Business

1.23.5a Discussion of the HOA purchasing parking stalls in the garage-After several discussions with the garage owner the Directors and Committee Members determined that a mutually agreeable purchase structure could not be reached and the Association would be best served by ending further discussions and allowing he garage owner to digest the purchase structure offered by the Garage Negotiating Committee.

1.23.5a Annual Owners Meeting-A motion was made and carried to approve Tuesday, March 25, 2002 as the date of the annual owners meeting.

2.25.5a New Regular Meeting Date-A motion was made and carried to change the date of the monthly Board of Directors meetings to the last Tuesday of each month.

VII. ADJOURNMENT

The meeting adjourned at 8:15 p.m. The next regular Board meeting is scheduled for April 30, 2002 @ 6:00 p.m. at 730 Harrison Street-fifth floor conference room. Michael Alfaro, Museum Parc general manager respectfully submits these meeting minutes.

AGREED AND APPROVED

By: _________________________________________ Date:______________________________
Board Secretary-Neil Rains
Museum Parc Residential Owners Association