Board meeting called to order at 6:11 p.m. 

In attendence:

Yasmine Kotb (YK)

Dominique Androuin (DA)

Myriam Lohr (ML)

Cesar Reis (CR)

Ratifying the meeting minutes postponed as not ready with Patrick G. on vacation

Islander Meeting Agenda:

            Discussion of Management Options and Make a Decision 

            Interview committee results 

The committee headed by YK, DA and ML interviewed four management companies:

               1) Linda Johnson Management - $2,500 Monthly

 2) Regatta Management  - $2,000 Monthly

3) Skylemar Property Management - $2,750 Monthly

4) Urban Resources - $2,250 Monthly

After presenting the pros and cons of the various contenders for the management company, the committee suggested that Urban Resources demonstrated the most comprehensive plan of action and had the organizational skills and appropriate infrastructure in place to do the best job for the building.  They also have an office 2 miles from the building, which was an added feature that was appealing.  The fee will also provide annual savings of $16,800 vs JLA (current management).   Though we have another accountant / bookkeeper that we are paying $550 per month, the fee would including book keeping and we could transition to having UR do books and save add’l $550 per month down the line.  We will keep our accountant for the time being in order to insure no financial issues during management transition.  Once we integrate with UR we will make accounting determination after evaluating UR’s overall performance.

YK made a motion to vote to hire Urban Resources, CR, DA, and ML were all in favor. Motion to make the Urban Resources the new management company passed.

  Javier Zuniga will be the Manager  and will send out notification in early March once contract executed.

UR will work with Francisco R. and he will remain an employee of the association.

 YK made a motion to pay one month salary to  JLA  and ask that Cheri Richman assist with transition, which would require at least 2-4 more meetings/trainings with new manager Javier Zuniga. CR, DA, and ML were all in favor. Motion to pay JLA in for March in order facilitate a smooth transition passed. 

Motion to adjourn passed at 6.54 pm