MANAGER’S REPORT

5/15/2009

Units for rent or for sale

#205 #603 $399,000 #806 $625,000 rented #602 sold
#305 #1002 $250,000 offer #1306 $669,000 rented #1203 sold
#1006 #1005 $395,000 #1404 $468,400 #404 sold $303,000
#1602 #1202 $375,000 #1801 $399,000 #1702 contract

Personnel

Ray Reeves has accepted a position with JSO but may be able to work some part-time at PPCA.

Administrative

1. Two units are on a foreclosure path. If/when the association gets ownership and
possession, what will they do? Need to think and plan for the outcome.
2. Federal and state income tax returns extension requests by CPA engaged to
prepare.
3. Financial condition indicates a need to arrange a line of credit with a bank as
reserves are dwindling.
4. Association should mail every owner a current set of rules and regulations since
the BOD has not been able to adopt a revised set since 2002.
5. New contract with Schindler Elevator needs to be approved / signed.
6. Roofing consultant Edward Shafer invited to inspect roof and recommend a
replacement system.
7. Summer vandalism started: north boundary wall sprayed with grafitti; chairs
thrown from 18th floor; potted plant from the 17th floor.

Building and Property

1. Two elevator problems but no water leaks this past month.
2. Drain cleaning proposal / quotes requested from ASAP, Eagerton and Fenwick
Plumbing. Only ASAP responded thusfar.
3. Garage door (north) promptly repaired by J.B. Mathews. Considering a PM contract on the doors.
4. Donovan A/C performed semi-annual maintenance on five systems. The lobby
and Club Room were extremely low indicating a leak in system. Not investigated.
5. Childers Roofing made a visit and inspected but no recommendation since a roof
consultant involved. Bidding process required due to the cost.
6. Estate liquidator jammed trash chute and compactor by throwing books, wood
and everything imaginable in it.
7. Balcony railing posts are filling up with water during rain. Program to drill and
seal needs to resume after painters leave. Water migrates to rebar causing
oxidation / rust.
8. Need to purchase a floor scrubber to keep west walkways clean and dry.
9. Beaches Energy rebuild our domestic water meter. Expect higher readings?