KINGSPOINTE OF NAPERVILLE CONDOMINIUM ASSOCIATION
MINUTES OF THE BOARD OF DIRECTORS’ MEETING
July 6, 2011
A regular meeting of the Board of Directors of the Kingspointe of Naperville Condominium Association was
held at 7:31 PM July 6, 2011 at the Naperville Municipal Center.
Present at the meeting:
Steve Elmore - EPI Management
Absent Sunil Contractor
I. CALL TO ORDER
Meeting was called to order at 7:35 PM by S. Elmore (EPI). Roll Call was taken and it was determined
that there was a quorum of the Board of Directors.
II. APPROVAL OF THE MINUTES
Motion – J. Walker moved to approve the minutes of May 2, 2011, as written. J. Stepien seconded.
Unanimously approved as presented.
III. RULE APPEALS
There were no Rule Appeals presented to the Board.
IV. GUESTS\MEMBERS –
There were no scheduled guests.
V. TREASURER’S REPORT –
S. Elmore presented the financial report for the period ending March 31, 2011.
Assets - $271 656.83
Liabilities - $ 58,124.18
Homeowners Equity - $213,532.65
Total Liabilities/Equity - $271,656.83
Mr. Elmore reviewed the May 31, 2011 statements with the Board and noted the following items:
Minutes Kingspointe of Naperville Condominium 2
Budgeted Income was 182,584 versus actual income of $197,323.00. The main cause of the
variance was due to rental income in the amount of $5582.00 for units the Association took
Professional Services – Actual was 9779.00 versus budget of $11,100.
Outside Services – Actual was $55,662 versus a budget of $67,738.
Office Expenses – Actual was $1466 versus a budget of 2797.
Insurance – Actual was $9859 versus a budget of $14,291.
Misc. Repairs – Actual was $12,194 versus a budget of $11,583.
Utility Expense – Actual was 22,322.39 versus a budget of $36,212.
Reserves – It was noted that the Reserves were under-funded due to the summer operating
expenses such as plant material replacement and the re-mulching of the property.
VI. MANAGEMENT REPORT
No Lease Amendment – Mr. Elmore reported that there had been no change in the totals votes
for and against the No Lease Amendment.
Landworks Landscaping – Mr. Elmore reported that a copy of the Landworks landscaping
contract was attached to the report for the 2011 season. It was also noted that the mulching had
been completed per the contract terms but that some of the common area planter beds were not
mulched as more mulch was used in the planter beds. The Board approved to have the common
area beds mulched later on in the summer when the funds were available.
It was also noted that Landworks had postponed some of the plant material replacement due to the
Illinois Department of Transportation – Mr. Elmore reviewed the correspondence between the
Illinois Dept. of Transportation and Keay & Costello regarding the sound barrier that the State
was proposing to install along the expansion area of Route 59 on the west side of the property.
The Board agreed to accept of the Dept. of Transportation’s proposal for the two separate parcels
that would be taken in the amount of $205,000 and $74,000 but wanted to wait for a response
from the State regarding the sound barrier.
Emerald Ash Borer – Mr. Elmore reported that a copy of the contract for treating the Ash Borer
was included in the management report with Autumn Tree that would involve injections into
those ash trees that were diagnosed by the City of Naperville as having been infected. The work
was schedule to be done in August 2011.
Minutes Kingspointe of Naperville Condominium 3
City of Naperville – Mr. Elmore presented correspondence from the City of Naperville showing
the Association’s cost of the perimeter concrete repair at a cost of $2743.26.
Motion – J. Stepien moved to approve payment in the amount of $2743.26 to the City of Naperville for
the Association’s share of the perimeter sidewalk repair. Seconded by R. Ruoti. Unanimously
Driveway Replacement - Mr. Elmore reviewed the two proposals for the replacement of the 7
driveway areas that were included in the bid specs.
Motion – J. Walker moved to approve the bid proposal from Wallace Paving in the amount of
$14,042.00. Seconded by D. Kole. Unanimously approved.
Concrete Raising – The Board reviewed the concrete raising proposals for the interior sidewalks
located in the inspection report.
Motion – J. Walker moved to accept the concrete raising proposal from Amazing Concrete in the
amount of $5100.00. Seconded by D. Kole. Unanimously approved.
VII. INSPECTION REPORT
Mr. Elmore reviewed the Inspection Report with the board which include a review of the
perimeter sidewalk concrete replacement by the City of Naperville. It was noted that the report
included maintenance items to be done on the buildings and numerous rule violations involving
satellite dish installations, dog damage issues, siding repairs, etc.
Motion to adjourn at 8:21 p.m. . Unanimously approved.
There was no Executive Meeting held.
EPI Management Co. LLC