HomeMy WebLinkAbout2010_12_20 Housing Authority Minutes TOWN OF MAMARONECK HOUSING AUTHORITY
EXECUTIVE BOARD MEETING MINUTES
12/20/10
In-attendanc-:
Board Members:Rick Cherry-Chairman,Bob Cammer,Sal Iacono,Bob Kirby
Managing Agent:Bram Fierstein
The Board Meeting was called to order by Rick Cherry at 7:05 PM.
1. Cash Position HVB Operating Account $ 37,459.89
@ 12/20/10: Merrill Lynch UT Reserve $ 581,093.95
Merrill Lynch S/T Reserve $ 155,635.23
Total $ 774,189.07
2. 2010 Payment in Lieu of Taxes("PILOT"): The Board decided to reduce the actual
payment to the Town to$20K from the$40K budget estimate primarily due to lower
annual investment income as reported in the financial statements,YTD November,
2010.
3. Boiler Replacement Project: First Choice Plumbing,a local vendor,has installed a
total of six boiler units this year.The remaining twelve units will be installed in 2011,
completing the project.
4. 2011 Budget: Bram Fierstein presented the 2011 Budget(See attached)with a small
surplus based on the following major assumptions:NO increase in rents,continuation of
the$75K funding of the L/T Reserve,the installation of the 12 boiler units mentioned
above and a modest salary increase to the custodian,Abner Duke.The Board approved
this budget for next year.However,the Chairman requested Bram to work with Sal
Iacono and Bob Kirby in January to develop separate 2011 Operating and Capital budgets
to assist the Board decision-making process regarding major capital expenditures
independent from short term operating issues,i.e.,2011 PILOT etc. These two budgets
will be presented at the next Board Meeting.Also related,the Chairman asked the group
to provide a corporate-level balance sheet and income statement on an ongoing basis to
give the Board better insight in making its financial operating decisions.
5. Capital Assessment Needs:The Chairman asked the Treasurer,Sal Iacono,to
prepare a report for the next Board Meeting identifying the major capital
expenditures the Board needs to address over the next five years in calculating the
corresponding L/T Reserve amounts required.
6. Hommocks Signage:The Board voted unanimously again to purchase and install
a"Hommocks Apartments"sign with the Hommocks address and the Housing
Authority name.The Board decided to move forward without the approval of the
Architectural Review Board("ARB")due to extensive delays from the ARB.
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WATSKY ASSOCIATES,INC.
20 Madison Avenue,Valhalla,New York 10595/914 948-3450 Fax 914 948-9493
July 8,2011
Gramatan Management,Inc.
2-Hamilton-Avenue
New Rochelle,NY 10804
Attn. Bram Fierstein
Re: Hommocks Park Apartments-
Mamaroneck,NY
Dear Bram:
In my report of July 5,2011,concerning the referenced property's roofing,I included recommendations
to immediately replace the roofing system on a lower-elevation roof on one building,and to replace the
roofing system on all the roofs in about ten years. In both recommendations,I stated that the existing
roofing should be removed down to the substrates before installing new roofing. Please note that I called
for such removals because:
A. A critical component in shingle roofing systems in this geographic area is waterproof underlayment
—it provides protection against water entry due to ice darns and accumulated rooftop snow. This
underlayment must be installed at all eaves; in all valleys; at the base of all walls adjoining roofs;
and,around all penetrations.
At this property,removing roofing to install waterproof underlayment will leave existing roofing in
place in barely half the total roof area.
If that remaining existing roofing is not removed,additional materials will be needed on top of the
waterproof underlayment to build up those areas'thickness to match that of adjoining old roofing.
Otherwise,the function and appearance of the new roofing system will be compromised.
The cost of installing additional materials on top of the waterproof underlayment is close to the
cost of removing the existing shingles in areas in which this underlayment is not required.
B. The roof deck/substrate is OSB(Oriented Strand Board),1/2"thick. Typical shingle roof decks are
plywood,1/2"—5/8"thick. OSB is an unusual roof deck material. Its resistance to deterioration
and damage from roofing leaks,repeated heat/cold cycles,excessive attic heat and moisture,and
other usual conditions,may not equal plywood's. Removing all existing roofing materials before
installing new roofing provides the opportunity to inspect and repair the OSB as needed.
In my opinion,the benefit of removing all existing roofing before installing new roofing is greater than
the small difference in cost between removing all existing roofing and removing it only where waterproof
underlayment is required.
Very truly yours,
WATSKY ASSOCIATES,INC.
Rick Watsky
Vice-President
RW/