The following notes are my opinion of the meeting and are not official minutes of what took place. They are posted for those unable to attend.
Gloria Sinclair
THE GALLERY ANNUAL GENERAL MEETING
MONDAY NOVEMBER 28/22
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Chair of the RAC Nancy McIntyre welcomed everyone and called the meeting to order at 2 pm.
She introduced other members of the RAC in attendance: Martha Jack, Tom Cook, David Bowles and Bev Comfort.
She thanked Staff members Jean Cherwaiko - Office Administrator, Thess Quanbury - Janitorial Supervisor and Joe Giannini - Maintenance, for the outstanding work and care they show looking after our building and residents.
Other persons attending and part of the head table were: Dana Bellman - Gallery Governance Committee, Susan Campbell - Gallery Governance Committee - Dieter Pagani, Gallery Governance Chair, Mike Bakewell - Executive Director Bennett Village, Josh Browne - Apex Property Management and Consulting CFO and VP.
Approval of Minutes: Motion: Moved by Lorraine Morris, Seconded by Gloria Sinclair that the minutes of the 2021 AGM be approved as presented. Carried.
Question from floor regarding marketing costs brought up at last year's meeting in minutes. Marketing costs should come out of the sale of the units. What is the status of this cost?
Reply - Office Administrator will investigate.
Mike Bakewell Executive Director BV spoke about today being approximately his 1 year Anniversary working for the Bennett Village. He reported there has been much change in his first year with both the Bennett Village Board (new Chair of Board) and the Residents Advisory Committee and feels the current RAC is a great group to work with. Apex, the new Property Management Company is very happy with the current Staff and the goal of Mr. Bakewell is to keep the current Staff in place to keep up the positivity they bring.
Dieter Pagani Chair of Governance Committee is our liaison with the Bennett Board along with attendees Dana Bellman and Susan Campbell in attendance. He said there has been many changes in the past year with both the Bennett Board and the RAC. He regularly meets with our Office Administrator and Residents Advisory Committee to keep abreast of concerns.
Chair Nancy McIntyre then gave a brief report on the Gallery Sub-Committees and thanked all those who volunteer on various Committees.
- Decorating Committee: No big projects this past year. Monies were spent refreshing decorations for Christmas, Easter and Halloween.
Beginning of year balance - $240.
Donations received - $640.
Current balance - $453
Money from the sale of the 2 old BBQ's was spent on the garden patio area of
the Guest Suite.
- Social Committee: Approximately 75 residents enjoyed a Canada Day BBQ and a Corn Roast on Labour Day.
Beginning of year balance - $1,640.
Current balance - $2,775 (due to 50/50 draws)
This balance will soon diminish as the Committee has planned a complimentary
Christmas Cheer at the Gallery event to be held on December 9th in the FSL -
be sure to get your tickets.
New volunteers are always needed on the busy Committee.
- Safety and Security Committee: The S&S Committee is always researching building issues for us. Currently they are looking into EV Charging options, ongoing water issues with fridge lines and heat pump drains, completing the conversion to LED lighting and WIFI in the common areas of our building.
- Audio & Visual Committee: The AV Committee has some indoor event plans. Unfortunately we are experiencing some technical issues, but the Committee is working on resolving these issues and hope to once again show hockey, curling and football events along with movies and educational presentations.
Jean Cherwaiko Office Administrator reported the following updates:
- In 2022 9 Suites have been sold.
- Currently there are 3 Suites for sale.
- Elevator repairs have started.
- There is ongoing plumbing and heat pump repairs.
- A new TV was installed in the gym.
- Window and patio door repairs are ongoing.
- Boiler rebuild.
- Snow melt system repaired.
- Repaired circulating pump on hot water boiler.
- Repaired domestic hot water tank.
- All unused key fobs have been disarmed and the fob records are up to date.
- Our Fire Safety Plan has been updated.
- A file of all maintenance items has been compiled for record purposes.
She asked for co-operation from residents to keep her informed of any changes in Insurance and emergency contacts. Please be patient as she and Joe (Maintenance) learn about the inner workings of the building.
Garbage disposal continues to be an issue. Only small sealed bags should go down the shute. Anything larger should go downstairs in the garbage disposal room. Please pass this info on to your family.
Her door is always open and Jean thanked the RAC for all their hard work and dedication.
Reserve Fund Report - Josh Browne - Apex
- Balance 2021 - $1,705,660
- Funds Invested (Sept. 30/22) - $164,498
- Interest - $24,713
- Remaining 3 months contributions - $54,833
- Less: 2022 expenditures - ($157,100)
- Anticipated Year-End Balance - $1,792,604
The budget process went through 9 versions before approval.
- Used inflation factor of 7.8%
- Approved occupancy rate increase is 6.99%
- Balance Budget with total revenue and expenses of $996,357
- Major increases were in Utilities (28%) and Maintenance (18%)
Reply: Safety and Security Committee is looking into this.
Question from floor: Where is the cost of elevator work expensed.
Reply: The Reserve Fund - total amount will be advised upon completion.
Question from floor: A concern re the escalation of our occupancy fees was expressed.
Reply: Jean Cherwaiko - Items have to be repaired to keep our building operating.
Dieter Pagani says our building is 14 years old and replacing and repairing is necessary for our safety.
Question from floor: Could the BV Board consider refunding 1% (e.g.) of the 5% it takes on all sales to keep occupancy fees down. Governance Committee will discuss and possibly bring to the Board.
Question from floor: A current resident was under the impression that the 5% collected from sales would go back to The Gallery. Dana Bellman (GC) said he was not aware of this policy.
The Life Lease that all buyers sign when purchasing a Suite clearly states that 5% goes to BV. The 5% is put in the BV Reserve Fund which is partially dedicated to building the long term facility.
Question from floor: Resident is under the impression that there is a plan to raise the 5%. GC was not aware of this. Resident read this in an annual report. Resident to provide copy of this report.
Question from floor: Will the reserve fund provide monies for the projector?
Reply: None.
Question from floor: Residents were notified of a possible purchase of Bennett property from a developer which could affect removing part of the guest parking site. Where will guests park?
Reply: This area has long been designated for development. Available parking will be part of the negotiation process and the Town has by-laws to cover the number of parking spots required.
Question from floor: It would be helpful to see how the Reserve Fund is calculated.
Reply: It is a blend of a number of factors, but primarily based on engineering recommendations.
Chair Nancy McIntyre thanked everyone for their participation and attendance.
Ron Javorsky shared sincere thanks to the Residents Advisory Committee for all their work noting it is not an easy job.
Meeting adjourned.
Residents enjoyed a wine and cheese social time.
RAC
