On March 8 2014, The Presidential Board of Directors will discuss a proposed special assessment of $12,000 to repair the water pumps in our building. These units are used to supply water to all of the apartments at The Presidential. In 2013, the board identified this as an issue and brought in several outside consultants and contractors to confirm these systems were close to failing.

Two options were recommended by the contractors who inspected these systems: repair our current water pumps (which will cost about $12,000) or replace them (estimated cost: $25,000). At the March 8 meeting the board will discuss the repair option. If approved, the $12,000 special assessments works out to a one time only charge of between $47 and $51 per unit to fix our water pumps.

The meeting announcement and agenda for the March 8 meeting are now online. If you can’t attend the meeting but want to dial in to listen, a conference call dial-up number and access code is included on the announcement.