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HomeMy WebLinkAboutKit Housing - 2007-10-30KITCHENER HOUSING INC MINiJTES OF THE MEETING OF THE BOARD OF DIRECTORS HELD: Corporate- Conference-Room, 9t~~ Floor, 30 Duke- Street DATE: October 31, 2007 TIME: 4:00 p.m. PRESENT: De-nny Cybalski, Birgit IIe-ilig, Christina Weylie, Jerry Finnen, Andrew Head, RESOURCE STAFF: Karen Kwiatkowski, Susan Campbell-Emans, Ann Eckert, Christine Wilson, Cathy Shafe, Camelia Suciu ABSENT: Carl Zehr, John Gazzola, Loraine- Rowan, Jamie- Hill Andrew Head acted as co-chair to re-elect De-nny Cybalski as Chairman of the- Board. On a motion by J. Finnen, seconded by B. He-ilig, and CARRIED, De-nny Cybalski was re-elected as Chairman of The- Board. 1. Opening Remarks De-nny Cybalski called the- meeting to order at 4:05 p.m. The- notice- of the- meeting was submitted with the- information that the- notice- had been marled to the- Directors in terms of the- By-laws. 2. Conflict of Interest -nil 3. Approval of Agenda On a motion by A. Head, seCOnded by J. Finnen, and CARRIED, the agenda be approved. 4. Approval of the Board Minutes -September 26, 2007 The- minutes of the- Board of Directors Meeting of Septe-mber 26, 2007, had been circulated with the- agenda. On a motion by J. Finnen, seconded by B. He-ilig, and CARRIED, it was resolved that the- minutes of the- Board Meeting of Septe-mber 26, 2007 be accepted as a true and correct record of the meeting. 5. RJC Presentation -Victoria School Buiidin~ Envelope Assessment Michael Pond and William Gladu from RJC spoke- on their findings from the- balcony assessment. A subcommittee consisting of Andrew Mead, Jerry Finnen, Denny Cybalski and Birgit ~Ie-ilig was formed to discuss the- findings of the- re-port and re-view the- options. 6. Property Business 6.1 Tenant Placement Report The- Tenant Placement Re-port was circulated with the- agenda. Christine- Wilson gave- an overview of the- re-port. Christine- reported that for the- period between October 1 to Dece-mber 31/07 there are- a total of 22 notices to vacate. Of these, 15 have- been rented and 7 are- still available. Opportunity to Comment and Request for Re-view As of the- meeting there- have- been no Requests for Review. Currently, there are- 3 unresolved Opportunity to Comment letters. Of these, 1 has a deadline- of Nov 5/07 and 2 with deadlines of Nov 15, 2007. Annual Income- Verification Final reminder letters are- going out to those- who are- not in compliance- with the- annual income- verification process. The- final deadline- is Nove-mber 5, 2007. =This date has been changed to November 23, 2007. After this time, Notice- of Decisions withdrawing subsidies for non-compliance- under the S~IRA will follow. A formal letter of request will be going out to those- Market rent tonants who have- not yet responded to our first informal request to provide- verification of Utilities and Insurance following approval of the Lease Compliance- Policy. 6.2 Le-ase- Compliance- Policy -Insurance- and Utilities On a motion by B. ~Ie-ilig, seCOnded by J. Finnen and CARRIED, the Lease Compliance- Policy be acce-Pted as revised. 6.3 Property Maintenance Report Annual Alarm Testing Staff and GE Security have- tostedthe- fire- Safety Devices within the- suites. Cedarview There- has been some- unfavourable- activity at the- front of Cedarview with some- of the tenants. There are also concerns that people are- gaining access into the- building and wandering the- halls. Staff has requested Doc Lock Inc. to provide- a quote to install a third camera in the front lobby and to connect the cameras through cable in order for tonants to view who is ringing into their units. These cameras have- proven to be a valuable- tool at other sites. Lancaster Maples Staff has had discussion with Precision Wall Systems with regards to the- cracking of the stucco system at Lancaster Maples. Bruce- Buck of Precision Wall Systems has indicated that repairing the- cracks as they appear is typical. Therefore, we will be forwarding the location of the- cracks for a quotation for repairs. 6.4 Follow-up -nil 7. Finance & Administration Business 7.1 Financial Statement -September 2007; CedarView -September 2007 The- Financial Statements for Septe-mber were- circulated with the- agenda. A. Eckert gave an overview. On a motion by A. Mead, seCOnded by J. Finnen and CARRIED, the- Septe-mber statements be approved. 7.2 Capital Reserve Fund 2007 - Proiect Details The- Capital Reserve- Fund 2007 - Project details was circulated with the- age-nda for information only. 7.3 Rental Arrears Report -September The Rental Arrears Report for September had been circulated with the agenda. S. Campbell-Emans gave- the- re-port. The acrears for Septe-mber were- 3~Io. There- was a vacancy loss of 6 and we-were- over the- market target by 9. 7.4 Followup -nil 8. General Manager's Report The- General Manager's Re-port was circulated with the- age-nda. Karen Kwiatkowski gave the report. 1. Insurance Renewal -November 1, 2007 to November 1, 2008 The- insurance- Request for Proposal (RFP) was marled to four companies on July 24, 2007 and the RFP closed on October 2/07. Only one- company responded with a quotation and this quotation was forwarded to the- Social Mousing Services Corporation (S~ISC) as an Alternate- Competitive- Quotation for their approval. The S~ISC defines a competitive price- as an overall price- for core- coverage- that offers a savings of at least lO~Io (net of fees, commissions and taxes) lower than the- Program Brokers (Aon Reed Stenhouse) price. The- Alternate- Quotation must also match or exceed all the- details, limits and deductibles offered by the- Program Brokers. At the- time of the RFP closing, S~ISC indicated that we should compare- our 2007/08 premiums to the- 2006/07 premiums until they send out the- new premium invoice. Since KHT had no claims in 2006/07, S~ISC indicated that the- pre-mium would re-main the- same for the- next renewal period. Denny Cybalski and Karen Kwiatkowski reviewed the Alternate Quotation rece-ived from Lackner McLe-nnan Insurance- to determine that the quotation met/exceeded the- core rewirements and offered a savings of at least lO~Io in premiums. The- re-sups of the- quotations from Aon and Lackner McLe-nnan are as follows: Replacement Costs: $53,386,800 $58,847,950 New Formula 2006/07 2007/08 2007/08 2007/08 Aon Reid Lackner Aon Reid Aon Reid Stenhouse McLennan Stenhouse Stenhouse Core- program $65,232 $49,673 $65,232 $67,522 S~ISC admin. fee 1,584 1,738 1,584 incl. in above Administration/commissions 4,892 12,257 4,892 incl. in above 71,708 63,668 71,708 67,522 PST 5,736 _ 5,093 5,736 5,402 Total $77,444 $68,761 $77,444 $72,924 Deductibles: Property -all risks $5,000 $2,500 $5,000 Boiler & machinery 5,000 5,000 5,000 Crime- 1,000 0 1,000 General liability 5,000 1,000 5,000 Directors & officers liability 0 2,500 0 Umbrella liability 10,000 10,000 10,000 In comparing the- Aon 2006/07 pre-mium to the- Lackner 2007/08 pre-mium, the- Lackner quotation was the- winner. The- Lackner information was then faxed to the S~ISC on October lOt~~ for their review. On October 16t~~, Karen rece-ived the- 2007/08 Aon pre-mium. Revie-wing the- pre-mium and following the- same- formula as in prior years, Lackner was still lower by lO~Io. Upon contacting S~ISC to indicate- that K~II would be rene-wing with Lackner, Karen was told that the- calculation had changed as Aon and S~ISC were- waiving their administration fees for 2007/08. The- waiving of their administration fees changes the- bottom line- and Lackner does not provide a lO~Io savings as rewired in the- S~ISC program rewirements. Karen placed a call into the S~ISC asking that staff take- our situation to the- Director of Finance to resolve- the- program rewirements, ultimately the- Aon premium is $4,163 higher for K~II. 2. Staffing Please welcome Camelia Suciu. Cami has taken the- position of Account Analyst / Administrative- Assistant effe-dive- October 15, 2007. Formally educated and traine-din Romania, Cami has had seven years of extensive A/R experience in the- Toronto area. Cami has commented that she is not missing her hours of commuting to Toronto but she is still trying to figure- out what to do with her extra morning time- now that she- can travel to work within minutes. We are all excited to have- this position filled and Sue- will follow through on training over the- next few months, bringing Cami up to speed before year end. Welcome-Cami i The- second Building Technician position has not been filled. Although we have interviewed many applicants, we are- still looking for the- most suitable- choice, one- that can complement Stan's abilities, has good communication skills and is willing to work with our clients. We are- hopeful that this position can be-filled within the- next month so that we-can move- ahead on the- many maintenance and capital challenges that are patiently waiting. 9. Correspondence 9.1 Phillips, Hager & North -update- only 10. Open Forum 11. Caucus 12. Adjournment On a motion by B. ~Ieilig, seCOnded by J. Finnen, and CARRIED, the- meeting adjourned at 5:10 p.m. ACCEPTANCE OF MINUTES Chairman Secretary