BOD meetings November 6, 2021

 

DRAFT

San Francisco Suites

Board of Directors’ Open Meeting

November 6, 2021

1. President Geoffrey Bellah called the meeting to order at 11:00 AM in the Board Room.

2. Board Directors present:

Geoffrey Bellah, President

Jo Ann Trembath, Vice-president

Jeff Reichel, treasurer

Linda Banner, Secretary

Chuck Meibeyer, Director-at-Large

Others present: Cynthia Reid, General Manager

3. Owners’ Forum: No owners being present, the Owners’ Forum was postponed.

4. President’s Report: President Bellah explained the current San Francisco mandate requiring masks in all common areas at the Suites. During the afternoon wine service, guests are asked to take their glass of wine and cheese plate to their suites and to not congregate in the lobbies. With the County of San Francisco now allowing indoor gatherings if all participants verify vaccination status, Manager Reid has asked the Board to re-open the Board Room for rentals and other owner functions, provided that any one using the Board Room provides evidence of vaccination or recent covid testing. Director Meibeyer moved to open the Board Room, with verification of vaccination, Vice-President Trembath seconded the motion, and after a brief discussion, the motion passed unanimously.

3. The minutes from August 7, 2021, meeting was approved unanimously with Vice-President Trembath’s motion seconded by Treasurer Reichel.

4. Treasurer’s Report: Treasurer Reichel mentioned that he had spoken with the Suites’ CPA and with the person who oversees the Reserve Study in order to answer questions about the distribution of the PPP loan, the $21K shortfall from 2020, and the purposes of Reserves. He also stated that the overall financial condition of the Association is good.

5. General Manager’s Report:

a. Ten parlor shares have been adopted.

(Six are tax defaulted and cannot be sold.) Also, there have been ten owner deed backs in 2021. (Three shares are in process of acquiring bond insurance for possible liens; once done, they can be sold.) Reid also mentioned that 26 Association-owned

parlors have been sold; that sale means that their assessments will be collected and the shortfall experienced last year will not be repeated. There should be a Delinquent Assessment Foreclosure auction held by VOTA in February 2022 to sell four other shares

(2 Masters, 2 parlors) which are in assessment-default.

b. The parquet flooring in suite 25 has been replaced, and the chandelier in suite 32 has been re-balanced. Also, the roof garden has been replenished, with Bella Fiora Florist on a maintenance schedule.

c. Manager Reid explained in some detail the provenance of last year’s $21K shortfall, which was mostly the result of 10 shares’ assessments not being collected. She also explained how the PPP loan of $128,000 was distributed according to the government’s requirements to pay for staff salaries and benefits. This loan, which has been forgiven because we did use it appropriately, allowed the Suites to keep all employees on payroll and in good health, and to keep the facility functioning to conduct the Association’s business although it was closed to guests.

d. The employee of the quarter is housekeeper July Torres.

6. Old Business:
a.Vice-president Trembath moved to approve the proposed 2022 budget, Treasurer Reichel seconded the motion, and after some discussion it passed unanimously. b. Manager Reid discussed the success of the recent parlor share sale, with 26 shares being sold. c. A new decorative security gate has been installed at the Pine Street entrance. Manager Reid stated that glass panels will be attached next week.

7. New Business:
a. After conferring with our Reserve Study consultant, Manager Reid stated that the Reserve is 43% funded, or in the “fair” category. b. Vice-president Trembath moved that the Association accept credit card payments for the annual assessment, Director Meibeyer seconded the motion, and after some discussion regarding the cost to the Association of credit card charges, the Board unanimously approved the motion with the requirement that any credit card payment add the surcharge to the assessment. There will be different surcharges, depending on whether the charge is made at the front desk or by telephone. c. Vice-president Trembath also suggested a revision to the Rules & Regulations to prevent any guest’s reservation from being changed unless such change is approved by the General Manager. (Currently Front Desk staff can make the changes.) Trembath’s motion to revise the Rules & Regulations so that these changes can be made only at the discretion of the manager was seconded by Treasurer Reichel. After some discussion, it passed unanimously. d. In April 2022 there is planned a tax-default auction held by the SF Tax Collector for four shares (2 masters, 2 parlors). Manager Reid will inform the ownership once the auction is officially announced.

8. Forward Planning: The several items being considered under “Forward Planning” are being postponed due to the pandemic, which makes renovation and redecorating projects difficult to plan and complete. President Bellah suggested a ranking in the importance of these items in case any of them can be started next year.

9. Adjournment: Vice-president Trembath made a motion to adjourn the meeting. Treasurer Reichel seconded the motion which passed unanimously. The meeting adjourned at 12:40 PM.

Linda Banner
Secretary to the Board