Page 2 - August 2019 Final

PRESIDENT’S UPDATE

By Gary Dahl, Board President
At Watergate at Landmark
(WAL), August is when the
Fiscal Year 2020 Budget be-
comes center stage. The Budg-
et Committee spent a signifi-
cant amount of time analyzing
and modifying Management’s
proposed budget. Owners had
the option to attend budget meetings that were mainly held
in open session. The process ended as the Budget Commit-
tee submitted a document to the Board of Directors who
conducted a first reading on July 30. Resurfacing the balcony deck is key to maintaining this feature.
the balcony area, seal the balcony surface and paint the
This month, owners can comment on the document and its exterior of the mechanical room doors. Residents will be
impact on the community during a town hall. At the end of notified when your unit is scheduled for work. Manage-
the month, the Board will approve a budget for Fiscal Year ment will publish a parking plan to mitigate loss of even-
2020. This budget includes your monthly maintenance ing parking spaces.
payments along with operational and reserve income and
expenses. Please come out on Thursday, August 15 to the Bldg. 2 Elevators
Town Hall on the Fiscal Year 2020 Budget. The event The motor replacement project for the elevators in Bldg. 1
stars at 7 p.m. in the Terrace Lounge. will be completed soon. During this project, Schindler
Elevators identified the original bumpers and rails at the
Maintenance and repair continue to be an ongoing priority bottom of each elevator pit were not functioning correctly
and a significant part of our budget. The
Association is in a great place concern-
ing planning and execution as the operat- The Association is in a great place...as the
ing and reserve budget has appropriate
funding to conduct all required projects. operating and reserve budget has appropriate
We must continue to look forward and funding to conduct all required projects.
ensure that requirements are prioritized
and funded strategically. We want our
community to remain safe, functional and aesthetically and need to be replaced. The pits also need a sump pump
pleasant for years to come. to prevent rust on any new metal rails and bumpers caused
by water leaks onto such.
Here are some major project updates:
Elevators in Bldg. 3
Balcony Deck Resurfacing – Building 2 Schindler recently evaluated Bldg. 3’s elevators pits and
The Board approved a $1,000,000 project to resurface the determined that each elevator pit needs new rails, bumpers
balconies with Consolidated Waterproofing Contractors and sump pump. Bldgs. 2 and 4 bumpers and rails are in
Inc. as the vendor. It’s been over 22 years since the last good working order. The PR&C and Budget Committees
resurfacing project, and the balconies have significant has contract proposals for this project.
wear and tear. Three contractors presented proposals to the
Association. The PR&C and Budget Committees reviewed Special Request
each proposal before making its recommendation. Our le- Our community is designed to be walkable and friendly to
gal counsel reviewed the contract prior to awarding it to both pedestrians and drivers. However, there have been
Consolidated Waterproofing and work is scheduled to several issues with too many cars running stop signs and
begin soon speeding. Slow down your vehicles on property! Please
make an extra effort to obey traffic signs. If you don’t, the
Working on three tiers at a time, the contractor will install Association will have to spend part of your monthly as-
polyurethane deck membranes, expose and repair roof sessment to curtail speeding.
slabs, paint railings, remove and replace damaged brick on

Page 2 Wheel August 2019