OTTAWA RESIDENTIAL SERVICES, INC.
MEETING MINUTES
October 20, 2011
- The meeting of the Board of Directors of Ottawa Residential Services, Inc. was called to order at 12:07pm. Present were:
Todd BickleySteve Wagner
Dave KellnerStephanie Lowe - Staff
Cathy ZafirauChelle Blausey - Staff
Mary Anne Koebel
II.MINUTES
The Minutes of the September 2011 board meeting were presented. Mary Anne Koebel made a motion to accept the minutes with a second by Cathy Zafirau. Motion was passed unanimously.
III.FINANCIAL REPORT
The Financial Report was presented by Chelle Blausey. Chelle reported that as of October 20, 2011 there was $26,717.61 in the Operation Checking account and $123,028.23 in the Capital Reserves account. The Board was presented with a Profit & Loss Statement, a Balance Sheet, and a Statement of Cash Flows. Chelle informed the Board that rental income remains slightly ahead to date, due to the successful occupancy rate at IVM. Rent collection remains a struggle for a select few tenants. Chelle reported that eviction paperwork had been filed for 3 tenants with substantial past due balances who have not made reasonable attempts to pay their balance, however to date 2 of the tenants have moved out and ORSI is working with the third tenant to either pay or be out of the unit by October 24th. She highlighted account line items that were over budget for the first 9 months of the year. She highlighted Insurance, Gas, Rubbish, Cleaning, Lawn/Snow, Appliances, Mileage, Legal Expenses, Advertising, Property Taxes, Postage and Association Dues along with a brief explanation as to why over budget for each item. Chelle pointed out items that effect cash but do not affect the Profit & Loss Statement. These items were things such as mortgage principal payments, loan principal payments, capital improvements and security deposits returned. Chelle reminded the Board that the CountyTBRA program would also be ending in October and all tenants had been notified. Motion was made by Steve Wagner to approve the financial report with a second by Dave Kellner. Motion passed unanimously.
IV.COMMITTEE REPORTS
Personnel & Policy Committee – Mary Anne Koebel stated it was time to complete the Executive Director’s annual evaluation. Steve Wagner made a motion to go into Executive Session, Dave Kellner seconded the motion. Motion passed unanimously. Board entered into Executive Session at 12:34pm. Board exited Executive Session at 12:43pm.
LMI Report – No Report
V.OLD BUSINESS
Property Inspections/2012 Maintenance Plan – Stephanie stated Nicole and Eddy completed the property inspections and put together a 3 year project plan. A copy was provided in each Board packet.
Ability Center-IVM Lein – Stephanie informed the Board that the three banks holding the mortgage on Island View Manor stated they would not allow the AbilityCenter to put a lien against the property. Marty Folger stated a formal letter would be supplied stating such.
Update on IVM Fire – Chelle stated SMB Contracting supplied a list of specifications for ORSI to review and determine which items to use in the renovated units. Chelle also explained Mr. Weimer would be sending a check for constructions and rent expenses soon.
VI.NEW BUSINESS
OCBDD Contract – Stephanie stated she would be meeting with Melinda on Friday, October 28th for lunch to start contract discussions and possible rent restructuring. Stephanie also reported she presented an annual review of services to the OCBDD Board at their meeting on Oct. 17th. Stephanie included a copy of her report in the Board packet.
Conferences – Stephanie stated ORSI staff members would be attending a couple different conferences in the next couple months.
- CDC Conference was Oct. 5th & 6th-Stephanie and Nicole attended
- DHN Housing Symposium was Oct. 13th-Stephanie and Chelle attended.
- Ohio Housing Conference is scheduled for Nov. 29th-Dec. 1st-Stephanie, Chelle and Nicole will be attending.
- DHN Conference is scheduled for Dec. 1st-Stephanie, Chelle and Nicole will be attending.
2012 Holiday Schedule-Stephanie presented the 2012 holiday schedule for ORSI. Steve Wagner made a motion to accept the holiday schedule as presented, Cathy Zafirau seconded the motion. Motion passed unanimously.
Property Management Report
- Rose Acre Manor – Chelle reported RAM continues to stay at 100% occupancy and has 23 people on the waiting list.
- Island View Manor Homeowner’s Assoc – Chelle reported the owners of building 530 have recently completed renovation on their building. They painted their building to match building 540, replaced windows and sliding doors, and added support beams to their balconies.
- Houses & Rental Units – Chelle reported that the houses are 100% occupied and IVM has 1 vacant unit. She stated she expects more units at IVM to become vacant by November 2011.
VII.ADJOURNMENT
The Meeting was adjourned at 1:09pm by a motion from Cathy Zafirau and a second by Steve Wagner. Motion carried.