Board Initiatives

Flavius, as Chair of the Maintenance Committee, is working to build a clear picture of exactly what this building needs maintained, in what order, and at what relative cost. A comprehensive Level 1 Reserve Study is now underway, commissioned at a cost of $7,950. Engineers will conduct a top-to-bottom physical inspection of all common-area components — the roof, elevators, mechanical and HVAC systems, plumbing and electrical infrastructure, life safety equipment, and interior common spaces — and deliver both a physical and financial analysis: a detailed inventory, an estimate of each component's remaining useful life, and a forecast of repair and replacement costs over the next 20 to 30 years.

They will confirm and expand on the items we already know are critical:

• Boilers
• Access control & cameras
• Risers and water pipes
• Façade
• Carpets
• Roof Leaks

The study is what lets the board move from reacting to surprise expenses to setting reserves aside proactively — and gives residents a credible picture of what the building actually needs over the long term.

In parallel, the facade restoration is already in motion. The urgent "make-safe" phase was completed in late 2025 — loose concrete was removed so nothing could fall and pose a risk to residents or pedestrians. The board has now retained KEPC, a professional engineering firm, to design and oversee the full project; their fee is $38,000. Construction is currently estimated between $500,000 and $1,000,000 and will tighten as KEPC completes their design.

This is not optional work. The City of Chicago has set a strict facade compliance deadline of late 2027; delay only increases cost and safety risk.

Brendan, in his role as President and Chair of the Tech Committee, is working to streamline communication in every direction — between the board and residents, between management and residents, and between residents and the board.

The goal is faster, clearer information flow with less ambiguity about who knows what. He aims to achieve this with low-cost software and procedures tailored to how this specific building actually operates.

Anca proposed the creation of a new Strategic Funding Committee and volunteered to chair it. Its job is to identify and combine the funding tools that allow the board to meet its fiduciary duty — keeping the building safe, code-compliant, and financially sound — while placing the lightest responsibly achievable burden on members. The goal is not the cheapest possible outcome; it is the most responsible one.

The committee is actively evaluating:

• Grants and outside funding opportunities
• Low-interest or government-backed loans
• Strategic use of existing building reserves
• Phasing the work over time to spread out costs
• Special assessments where they are the right tool
• A strategic road map for future capital needs, so fewer expenses arrive as surprises

Some context on the scale we are planning against. The building currently holds approximately $1.82 million in reserves, and recent operating expenses have outpaced income by roughly $200,000. The facade project alone could consume up to half of current reserves. These are the numbers behind the committee's work — and the reason a deliberate funding strategy is the only responsible path forward.

A special assessment — a temporary, defined charge with a clear beginning and end — is one of the tools available to the board, not a boogeyman to avoid at all costs. Where it is the right instrument, it will be used. Where another funding source can carry the load more responsibly, that source will be used instead. Sustainable affordability remains a guiding priority, but it sits inside — not above — the board's legal duty to keep the building safe and financially sound.