The board is concerned at the slow pace of the project and has asked kfh to take over management of it. An independent engineer’s opinion will be sought and discussed at the December meeting.
The auditor has valued shares at £1725. It was agreed to write to all non-shareholding flat owners to see if they would like to buy one.
According to the leases, ground rent should rise from £100 to £200 this year. It was agreed to waive this increase for the time being and consult with shareholders at the AGM next May.
A small deficit of £8K was incurred in the 06/07 accounts and was scheduled to be charged to flat owners in December 2008. Initial indications are that we ran a surplus in 07/08 and the managing agents were asked to carry the deficit forward rather than charging it.
The agreement with the former freeholder for a new lease on the porter’s flat states that the former freeholder will pay major works service charges including contributions to the sinking fund. Ashworth Mansions Ltd will pay the regular service charge. It was agreed that this money will come from regular repayments for the loan made by AML to the service charge at the time of the 2001/2 major works. There are sufficient funds to last for over 10 years.
Hot Water Review
It was agreed that we should write to flat owners on the hot water system to explain our board’s conclusion that a move to independent heating was not feasible.
Following advice from kfh, it was agreed not to pursue the former freeholder for the cost of asbestos removal from the bike store as there are no legal grounds for recovery.
The board agreed that appointment of new surveyors was a matter of urgency. Two directors agreed to interview shortlisted candidates and report back to the next meeting.
It was agreed to proceed with woodwork repairs to flats 8, 8a and 9 at a cost of £1100 + VAT.
There have been continued problems with the emergency lighting. The units are expensive (£21 each to replace) but keep failing. An electrical test has shown that the units are correctly fitted.
The front doors have been repainted satisfactorily.
Following redecorations to three flats in block five, the stairwell decoration has been damaged and the interior lightwell left full of building materials. The managing agent was asked to ensure that the relevant flat owners made good the damage.