The YEAR FOUR plan

1.     Invest in building maintenance and structural repairs as currently required and assessed for.

a.     Insist on timeline goals with vendors, with an appropriately incentivized contract that helps guarantee on-time delivery

b.     Review how project will impact common charge expenses

                                               i.     Do not allow contractors to utilize community resources without paying appropriate compensation

                                              ii.     Review whether certain duties currently done by contract could be achieved at a cost savings by using our in-house staff, such as landscaping

2.     Invest in moderate energy-savings and green-energy initiatives

a.     Budget for weatherproofing on all floors

                                               i.     Elevator area window gaps

                                              ii.     Replace apartment weatherstripping in doorframes and back of doors as necessary – metal doors require extra installation attention that may require building crew to perform.

                                            iii.     By my own experience weatherproofing gaps in common-space windows, my own electric bill went down by 8-10%

b.     Look into any green local or federal energy initiatives for installing solar arrays or wind turbines that could offset common electric charges; if it would generate long-term savings, and the net savings would pay for any capital investment in the short term, consider such a project.

                                               i.     Our South and East facing sides of the tower, as well as the tower setback above the penthouses, have ample space for solar farms

                                              ii.     The tower setback and the tower itself receive excellent breezes for wind farming as well
iii.  daytime generation may be bought back by the electrical grid companies for a credit to be used at night.

3.     Explore ways to monetize current building assets for additional revenue streams for the building and Year Four projects

a.     One of my ideas, no longer viable as we currently lease our bus instead, was to sell advertising space on the side of the bus.

                                               i.     Changed seasonally (4 contracts/year)

                                              ii.     High-visibility route during rush hours means good rates

                                            iii.     would have netted tens of thousands per year.

b.     I have two well thought-out ideas that could generate significant revenue streams for the building.

                                               i.     One not only brings in a revenue stream, but can also return direct assessment relief to a number of unit owners – whether investment or residents – who opt in to participate. The more units you own, the greater the opportunity.

4.     Expand building services for owners and renters

a.     We live in a 24-hour city; expand laundry room and gym access to 24 hours.                                                

              i.     If there are insurance or other reasons preventing such expansion, address it using savings or new revenue streams only

                                              ii.     There is ample security monitoring to insure the safety of residents

b.     Invest in low-cost, value added projects to keep the building’s amenities and appearance competitive, funded via savings and new revenue streams only

                                               i.     Update the gym

                                              ii.     Add barbecue area in the outside common grounds

                                            iii.     Convert common lighting to LED for both cost savings and brighter lighting

5.    Do not engage in any measures that would require residents to pay for any amenities that are currently part of the building.