General Update

We’ve been quiet but things are moving along:

• The key fobs have taken longer than expected due to delays for some equipment we ordered but we have it now. The gym door and mirrors should be installed today and we expect the fobs to be operational before the end of this week. As soon as we get the green light we’ll start issuing key cards to gym members and open it up for use. The mirrors are also being installed this week.
• Building #5’s facade work is moving along rapidly and, according to the latest estimates, wing 2958 will be done in a couple weeks and wing 2960 will be done in January. This means building #4 will begin that same month. There’s also a real possibility our contractor will do two buildings at once. It’s being discussed now. We very much want it because it gets them out of our lives in two years instead of four and we save a lot of money on insurance, sidewalk bridging, professional fees, and other stuff. We’ll keep you posted.
• We had to back off our intercom plans because the touchscreen system we chose was a bit too vulnerable to some of the savages passing through our lobbies. We couldn’t find a good way to install and protect it because, by its very nature, it has to be accessible to people touching it. We’re exploring a sturdier phone-based system that will also be a lot cheaper, too.
• As I posted a little while back, our first batch of windows is being manufactured and, once done, will be inspected and installed. My guess is all of building #5 will have new windows by spring.

Management Office Closure

 The management office will be closed for the Thanksgiving holiday. Please view post for further information.

http://www.box.net/shared/fkjht9x5i9

Window Update

The color (ivory) and windows have been approved. Each window will have half-screens of fiberglass mesh cloth, ultra-lift balances, tilt latches, 7/8″ thick insulated glazing, exterior pane 3/16″ thick clear glass, interior pane 1/8″ thick low ‘e’ coated glass, and an argon-filled cavity. Our installer has been authorized to manufacture the window order for wings 2954 and 2956 now and will order for 2958 and 2960 as soon as the brickwork is done.

Before full installation commences, one full apartment will have windows installed for field testing and air/water filtration exams by an independent laboratory. The board and management will also inspect the first windows coming off the line at the factory.

Gym Photos

It’s handy having a professional photographer on the board. The gym is still missing a few things like mirrors, air conditioners, signs, coat rack, bench, and some other stuff. Nonetheless, it’s already usable as you can see here.

Board Meeting – 11/16

Some highlights from tonight’s meeting:

1. Our accountant, Jack Lawrence, came in to talk to us about the 2010 financials. We approved the draft so it’ll be available soon in its final form. The short version is that, after expenses, Luna Park earned about $2.8mil with around $3mil in our reserves. Next year we’re expected to earn over $2mil and have closer to $6mil in reserves if nothing unexpected occurs.
2. Jack thinks we can save about $30k a year in certain taxes and possibly get as much as $500k a year in tax credits if we hire a special type of processor.
3. We want to proceed with the parking lot #3 expansion to add 96 more spots but the three bids we received so far are between $700k and $900k. We will open it up to wider bids to see if we can get it down more. Even if we have to pay $700k we worked out a way for the expansion to pay for itself after five years at which point it would become profitable for Luna Park. The more we can bring the cost down, the faster it becomes profitable.
4. The final two wings of building #5 didn’t need certain things the first two wings did like replacing all shims and bolts. We’re receiving a credit for $250k from our contractor.

Parking Waiting List

To all shareholders:

As promised, we will begin maintaining a version of our waiting list for online viewing and it’ll be updated around the first of each month. Going forward, your number won’t change. Instead, the number up for a spot will change. This system makes it impossible to sneak someone ahead of you. Example: You are #3 for lot #6 and we just gave #1 on the list a spot. In the old system everyone moved up a number so you would become #2 but it was also possible to make someone from outside #2 and you might not notice. Now, if #1 gets a spot, we say #2 will be served next and that person already knows he’s #2 just like you know you will always be #3. Any questions?

If your number has changed on this new list, it’s because we got rid of all the exception lists. Some people had taken an extension when they were up for a spot so we had to add them back to the top. Next time a spot comes up, they will either have to take it right there or they will lose their place. We expect the top of the list will move quickly through those people.

Without further ado, here’s the link.

Sincerely,
Luna Park’s Board of Directors & Management

Additional Key Fob Option

We’ve arranged an additional key fob purchase option for those who prefer them to key cards. As previously mentioned, each household will get two free cards and additional cards will be $15 non-refundable. Now you will also have the option of getting a key fob for $15 non-refundable but they are never free; only cards qualify for the two free. Gym members will need to have a card with photo.

Saturday 11/13: Gym Open House

We’re going to have another open house this Saturday from 12-2pm for those who missed last week’s.

The New Board Of Directors Line Up

Please view your Board of Directors and their positions.

http://www.box.net/shared/5oui6ogrf6

Meeting Minutes, August 17, 2010

Please view the Board of Directors meeting minutes of August 17,  2010.

http://www.box.net/shared/6x2qa1k2fx

Key Fob Update

To all shareholders:

We listened to what you had to say and have adjusted our approach in response. Rather than do the original $15 deposit per key, we’ll give the first two keys free. Every additional will cost a non-refundable $15. In order to save money, we’ll use key cards instead of fobs. Not only do they cost a bit less, we can put pictures on them for gym members so there will no longer be a need for a second laminated card as originally planned. To start we’ll only do photos for gym members, everyone else will get a blank card.

Thank you,
Luna Park’s Board of Directors & Management

Board Meeting – 11/4

Some highlights from tonight’s meeting:

1. Our new officers are Keith as President, Anna as VP, Gennady as Secretary, Eugene as Asst. Secretary, Mark as Treasurer, and Sherrie as Asst. Treasurer.
2. We’ve changed our key fob approach slightly which will be explained in a letter soon to follow.
3. We approved a mirror vendor for the gym. We went with the cheapest since they were all offering the same thing.
4. We finalized the new simplified parking list and policy. Fikret told us the list should be ready for publishing here early next week.
5. We’re going to be doing new floor tiles in every hallway. We agreed on a color/pattern and we’re going to save millions by doing it in-house slowly over the next two years.
6. We’re waiting for one more bid on elevator inspections. We want an independent consultant to come in and tell us why they keep breaking down.

You can see the directors on this blog page: https://mylunapark.wordpress.com/board-of-directors/

Friday 11/5: Gym Open House

We will be holding an OPEN HOUSE for our new GYM in building #2 on Friday November 5th from 5-9 pm. All residents who would like to check out our new GYM facility are encouraged to come. You can join right on the spot. Rules and Regulations will be provided at the Open House or can be picked up in the Management Office.

Light refreshments will be served.

Where: Building #2
What: Gym open house
When: Friday, November 5th from 5pm – 9pm

For more information, please view: http://www.box.net/shared/5js7kdcch2

Sincerely,
Luna Park’s Board of Directors & Management

Certified Election Results

The certified results match the interim results previously posted. I’ve included links to both documents because the interim one also has a second page of breakdown information for those interested.

Interim Results
Certified Results

Congratulations to Mark, now everything’s your fault too. Haha.

Election to be challenged?

We haven’t even received the certified results but I just heard that a group led by Tatyana and Pat will be angling to challenge the election and tie us up for months with costly legal actions. Pat’s already cost LP over $50k over the years, is it necessary to go higher? If the board could tamper with the results why didn’t they stop me, Keith, Gennady, and Sally from winning last year? Anna definitely didn’t want us to win and we used the same approach with bar-coded proxies and ID for voting. This is from Honest Ballot’s website:

Because of our strict attention to detail, our expert staff and the scrupulous procedures we adhere to, not one of the more than 25,000 elections we have conducted or supervised has ever been voided for any reason, or found unacceptable by any membership.

Do they really believe that a company in business for over 100 years is going to ruin its record for some co-op board? I guess it’s unimaginable that the reality of her popularity not match what’s in her mind.

Since I’m talking about the election, I might as well share the interim results. I repeat, these are INTERIM RESULTS which means they’re not yet certified by Honest Ballot and are subject to change but they serve as basis for the challenge:

887 total votes cast

Gennady Rotberg – 507 votes
Irina Zeltser – 466 votes
Mark Tsalner – 432 votes
Tatyana Yezerskaya – 369 votes
Efim Vitomsky – 348 votes
Mikhail Diner – 340 votes
Peter Rey – 92 votes

By-Law Amendment – 452 FOR, 129 AGAINST.

I’ll say it: I was wrong, Keith and the others were right. Maybe fear didn’t work and results did? I felt a candidate win was highly unlikely and sort of moped around for the last two weeks but the by-law amendment win was a no-brainer; I don’t even understand how as many as 129 people could vote against it. Either you trust us and take our recommendation to vote yes or you don’t trust us and vote yes to restrict us. I’m at a loss to explain Gennady’s huge lead even though I know he’s a nice guy. His wacky three-legged dog must’ve earned him the sympathy vote or Pat’s dirty attempt to throw him under the bus really backfired.

I know that losing is always a bitter pill to swallow but I hope that whatever’s next is constructive. It’s possible to be in opposition without accusation. I also have some hard feelings about things said but would rather move past them. I’d like the other candidates to know that if they invite me over for some tea or wine, I’ll make time to answer all their questions one-on-one. I’m sure other directors would make themselves similarly available if asked. If we don’t clarify the facts and get misunderstandings out of the way it’ll just happen all over again next year.