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Dear Members of the SPHC Board of Directors:
I read the Report From The Boardroom that was recently
distributed. I am impressed with the amount of information
you provided. At the same time, I wonder if you might
shed more light on certain items:
- Management updated the
Board on the status of several commercial leases
and the status of negotiations with certain tenants.
The board voted to approve action by management
and counsel.
Although this statement discloses nothing, it does
convey that our management company is involved with
our commercial property. I believe that it is a
conflict of interest to have our management serving
as broker for our properties. Aside from that, I
believe it is appropriate for Shareholders to be
apprised of issues pertaining to our commercial
property. With that in mind, please provide further
details.
- The Chair of the hallway
committee informed the board that the 3rd floor
mock-up would be finished for review and comment
by the Board and shareholders within a week. Directors
reported overwhelmingly positive feedback to the
3rd floor mock-up of the hallway renovation…
The Board unanimously approved additional funding
for this mock-up, which should be completed by early
December.
Is there to be a formal process of feedback? It
seems that this is something of an open loop. It
would be appreciated and appropriate to announce
further details.
- …Management updated
the Board on maintenance issues and presented spreadsheets
showing the status of recently concluded, ongoing
and anticipated maintenance projects in the coop,
including… progress in the laundry room renovation
for Building 1.
After such a long and repeatedly extended delay,
a detailed a discussion of the issues, a forecasted
reopen-date, and a commitment to regular updates
would be appreciated and appropriate. The cold and
wet weather is upon us, and the unavailability of
the laundry room is an increasingly difficult burden
for Building 1 residents.
- The Board discussed at
length what should be considered acceptable conduct
by sitting Directors. The Board discussed the appropriate
uses of a “censure”, whereby the Board
would vote to censure a Director. Counsel advised
that such a censure would become part of the public
record in the meeting minutes.
I would gather that it wasn’t intellectual
curiosity that led our Board to discuss this “at
length”. This item raises alarms as to what
our Directors might be doing that warrants such
discussions. Are our elected representatives exposing
us to undue risk or expense? Please provide clarification.
Thank you for your consideration.
Dan Strum
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