PACIFIC TOWER NEWSLETTER June - 2022
Here’s what I learned:
· Capri is the exact same age as Pacific Tower but has 140 units. PT has 118.
· One, two, and three bedrooms pay different monthly HOA dues.
· Dues for two-bedroom units are $971.87 a month, PLUS they’re looking to charge a $pecial Assessment on top of that to finance loan for 8.5 million to completely replace their plumbing.
Why am I spreading this juicy gossip and telling you how cheap you have it by living here? Well, we’re also about to ask you to agree to a loan, but THERE WILL BE NO SPECIAL ASSESSMENT necessary thanks to our recent dues hike.
The simple explanation: We have money in the kitty but need more money in the kitty for the future. We are seeking one million dollars. (There are more details coming in a very boring ballot you’ll be receiving soon.) Why do we need so much money? Inflation. Repair costs are now sky-high, and our building isn’t getting any younger (the big 5-0). We recently completely rebuilt our pool and deck, our pool equipment room floor, and we’re on the cusp of our biggest expense of all: converting a 1973 roof into a 2022 roof with all the bells and whistles that are now required, which costs a fortune. Blame the pandemic for the escalating cost of supplies plus impossible supply chain issues that still linger. We need 60 YES votes to approve this loan. If not, the membership would then have to vote to approve a one-time special a$$essment.
SO VOTE YES ON THE LOAN!.
With the new roof in sight, we can take on our next bunch of jobs: the lobby remodel, balcony repairs and on our dream list: finally painting the exterior. I don’t have to tell you the value of your unit has never been higher. But the older you get the more it costs to be functioning and beautiful.
Despite all that, we love our home. We are so lucky to live here.
Q. What does the Board do, exactly?
A. The board is actually the smallest form of government you can think of.
We are just seven elected representatives, and we vote on
A. How the Budget is spent
B. Approving Architectural renovations
C. Evaluating Violation reports
D. Supervising our staff
E. Creating Committees of volunteers such as : Landscape
F. Hiring vendors after approving competing bids
Q. Is there any work involved?
A. Yes. Most of the work is reading emails or doing research on the Internet.
Q. Aren’t there monthly meetings?
A. Yes, but you can be on Zoom so you never leave the comforts of home or pajamas.
Q. What are the downsides?
A. Board gets blamed for pool repair delays, for instance, even though it’s not their fault.
Q. If I wanted to join the Board, what would I do?
A. Elections for Board of Directors are coming up. You will receive a notice any day where you can nominate yourself.
Q. Are there any specific requirements for Board Members?
A. You must be an owner and current on your dues. We also trust that each Board member be familiar with the CC&Rs and the Rules and Regulations and accepts the commitment of attending monthly meetings every month. Three absences and you are out.
Q. Is there a lot of conflict and infighting?
A. We don’t agree on everything, but we all respect each other. Votes don’t have to be unanimous.
Q. How long does a person serve on the Board?
A. Two years.
Q. Why would anybody want to do this thankless job?
A. To help improve the building.
PT HOA meetings (for owners only) are on the 4th Tuesday of each month on Zoom. Send your email address to KChavez@menas.com to get on the emailing list to get your Zoom invite. If you don’t have a computer, you can dial into the meeting using your phone. Meeting notice and Zoom phone number is always posted on the outer lobby four days before the meeting. Log on! At the beginning of each meeting, homeowners are invited to ask questions of the Board, raise issues or lodge complaints for five minutes per person. Find out where your dues dough is going. We’d love to have you!
Acting President – Karyl Miller. Acting Treasurer- George Kyrala. Legal Committee - Troy Krich. Director - Jeffrey Isaacs. Director - Vaught Adamson. Director - Robin Del Pape.
Newsletter Written by Karyl Miller and Edited by Yuka Asada