Minutes December 15

Carleton Condominium Corporation No 419 (GALLERY COURT) Minutes of the meeting of the Board of Directors December 15, 2008, at 7:30pm, Unit #311

Presents: Alessandro Alasia Mike Shaikin Maria Lo Henri Proulx James McHugh

-

President Secretary Treasurer Director at Large Axia Management Ltd.

Regrets: Jack Cadieux

-

Director at Large

Call to order. The meeting was called to order at 7:30 p.m. by the Board President Alessandro Alasia. A quorum was noted. The meeting is recorded. Approval of agenda and minutes of previous meetings. The Agenda is approved. Minutes of November are presented, but some additional time is provided for review due to late submission of the Minutes (changes/confirmation of approval to be made by email). Status Certificate. Directors and Management confirmed that they were not aware of any circumstances that could affect the Condominium legally or may require a special assessment. Manager confirms that the current condition of the Corporation is good and the wording would be modified in the next Status Certificate to reflect this. Review of Axia-CCC#419 agreement. The agreement between Axia Property Management and CCC#419 was presented to the Board by the Manager. The Board reviewed the Duties of Manager. As indicated in the agreement, the Board shall establish written policies for Management to follow (currently there are no written policies). Some preliminary points are presented and discussed, this document will be finalized. Review of finance Signing authority. Following the contacts with the TD bank representative, the Board reviewed the Corporate Resolution concerning the signing authority, which is established as follows: (a) three Board members have signing authority; (b) one manager (Axia) has signing authority; each cheque must have two signatures to be valid. Signing officers are: Maria Lo, Alessandro Alasia, Henri Proulx (Board); and Shawn Paul (Axia). All other names of past Board members and Axia managers are removed from list of signing officers. The Board reviews the corporation accounts, for the period October-November 2008. Final payment to Atelier 292 is made. The Board established basic guidelines for the invoices submitted to CCC#419, as one of the invoices presented to the Board did not itemize the cost. This is particularly important for invoices of relatively large amounts (generally above $1,000). The Board establishes that invoices submitted to the Corporation will indicate the material used (type, quality, and quantity) and labour time, with a breakdown of labor for major tasks. The Board expresses concern about receiving invoices for the periods April-Sept 2008 and asks the Manager if other invoices are expected. Manager indicates that no other invoice is expected for that period, other than for the work currently reported in the maintenance/repair planner.

1

Questions are asked about maintenance costs of computer and program for the security camera. Management provides explanation about these expenses. There is no monthly maintenance or service fees for the surveillance system. Reserve Fund. The expectation to have about $90,000 in the reserve fund by the end of the fiscal year is confirmed. At the end of October the Corporation had about $45,000, and was able to transfer about $25,000 to the Reserve Fund in November. The standing of operating expenses looks good. None of the budget lines are over-budget except for Legal and Professional expenditures (these are about $7,400, all expenses incurred by previous Board of Directors). Management indicates that the only major project that is expected to be undertaken in the next 23 years is the hallway renovation. Hence, at the end of this fiscal year (March) the Corporation should be in the financial position to undertake this project without the need for special assessment, and keep building its reserves. Reserve Fund Study update. Manager reported that some engineering companies were approached. Update will be provided in January and tender is expected to go out in January or February. Upcoming budget 2009/10. The Board identifies the preparation of the new budget 2009/10 as a priority of the next few months. It is noted that the current budget (2008/09) has a small surplus (about $4,500 or 1% of the current budget), this amount will be carried over to the next fiscal year as an asset. Main activities in preparation of the new budget. It is decided that the following activities will be undertaken in preparation for budget 2009/2010: (a) tabulate expenditures of the last two fiscal years (Alessandro will do that in Jan); (2) Files made available to owners for comments/suggestions (Jan-Feb); (3) Establish “finance review committee” and collect feedback from owners (Jan-Feb); (4) Management and Board prepare a draft budget; (4) Review of expenditures (Feb-March); and (5) Board approves the new budget in March. Review of maintenance and repairs The Board discusses with the Manager complaints made by owners for recent repairs. The Manager confirms that, in a case in question, the work was poorly done and the repairs will not be paid to the contractors, as the work needs to be re-done. Following this discussion the Board emphasizes the importance of receiving feedback from owners when repairs are done and keeping track of these feedbacks. Some owners also expressed concerns about lack of records on small repairs. The Board recognizes the need to maintain better and more accessible records of maintenance and repair works. Jim reported problem to the tractor used for waste removal. The starter to be replaced (cost of the repair is about $600). Main decision: • To improve track records of maintenance and repairs, the Board established a maintenance and repair planner file; this will be announced in the Commentary and made available in electronic format to the owners who request a copy. • Jim will provide a list of contractors that are currently works at Gallery Court. Forthcoming/planning of maintenance and repairs The Board reviews the first version of Repair and Maintenance planner submitted by Jim. Currently the repairs in schedule are minor repairs (most expensive is about $1,100). A minor leak had just been reported at #303, from a preliminary assessment conducted by the Manager it looks like this is simply an overflow. This will be monitored in the next few days, and repairs will

2

likely occur early in January. Another minor repair is reported at unit #213 (repair schedule under discussion with owner). Directors indicate that at P4, 35 Murray, the cover of the neon lighting by the elevators is broken. Spring works. Stone repairs will be done during the spring. Patio door repair at 509 will be conducted in the spring as well. The Board discuss about plants for the pots at the two entrance of the building. As soon as wheatear condition will allow it, the Board will consider putting some plants, either ever green or annual. All Directors will gather information about possible ideas for this. Suggestions from owners. The Board acknowledges receipt of emails from owners, with several suggestions concerning energy saving initiatives and other initiatives that might be considered in the medium-period. The Board recognizes the importance of these suggestions and put them on record. The following schedule is outlined by the Board: - January-April: focus on budget preparation and expenditure review; this will be an opportunity to identify critical areas of expenditure and receive feedback from owners; - April-June: “brainstorming” with owners to identify and outline possible proposals for major improvements (the forthcoming update of the Reserve Fund Study will also be an opportunity to collect technical information on these activities). Update on hallways renovation. The Board received preliminary estimates for the hallway renovation (carpet and walls, drywalls or replacing wallpaper). Details need to be discussed with prospective contractors. Various samples of materials were obtained and discussed by the Directors. The choices of the design needs to be finalized by the House Committee and then submitted to owners. The possibility of having technical support to finalize the design is discussed. Communication. The Board has received positive feedbacks from owners Board’s approach to communication, which now covers the large majority of owners (by email or paper copy). Poster for elevator for season’s greetings is approved. Legal / regulation issues. There is no update to report. The corporation is not involved in any dispute or litigation. Management is still waiting for the documents requested to the former solicitor of the corporation. Neighborhood. The Manager was in contact with NCC with regard to the construction work at 419-431 Sussex. The construction work was delayed; hence, also the cleaning of balconies that was scheduled for the fall was delayed. It appears likely that the construction work will resume and will be completed when the weather conditions will improve, thus, balcony cleaning is likely to occur early in the Spring. The Manager will be in contact with NCC for updates. Adjournment Next Board Meeting is tentatively set for January 19, 2009 (to be confirmed). With no further business to come before the Board meeting and upon motion duly made, seconded, and unanimously carried, the meeting adjourned at 9:00 p.m.

Respectfully Submitted, Mike Shaikin, Secretary Alessandro Alasia, President

3