Subject: Re: Roof
From: Jim Thomas (jthomas@math.niu.edu)
Date: Mon Dec 29 2008 - 10:43:38 CST
Many of the questions asked about the roof have been addressed in
previous board meetings, so it might help if the Board pulled together
some of the questions posted today (and asked previously) into an
FAQ file and put it on the homepage, updating as needed. We'll try to
have it done within the next week.
Chris and Brian will provide more detailed answers, but very briefly:
Roofs are expensive, we need to make sure that we have funds to pay for
it without depleting reserves, and that it's done right, which requires
planning. An architect fee is needed because it's not just a matter of
slapping down new material. There is lots of equipment on the roof,
which means lots of detailing. The entire roof must be torn off, along
with cleaning of the deck and replacement of insulation.
The assessments on the 7th floor were determined by law when the
building was build. Assessments reflect the individual owners'
proportional share in the property as a whole, based on the original
value of the property, so the proportion (or percentage) doesn't change.
We have an FAQ on assessments at:
http://1250westvanburen.com/private/vgFaq.html
The share that individual units (and original prices of the the units
back in 1998-1999) is also on the page. Percentages range from
about .63 percent to 1.496 percent. See:
http://1250westvanburen.com/private/misc/vanguard_orig_prices.pdf
Hope this helps a bit; We'll try to get the FAQs done soon.
Jim
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