Page 26 - CooperatorNews Chicagoland EXPO 2021

26 COOPERATORNEWS CHICAGOLAND —EXPO 2021 CHICAGO.COOPERATORNEWS.COM That’s why we’ve leveraged the latest science to develop a new type of cleaning, disinfecting, and odor-reducing product. We’ve eliminated the harsh chlorine, bleach and acids found in other cleaners. Our proprietary formula is not only a breakthrough disinfectant and odor control solution, but also a cleaner and degreaser – all in one. Discover what science can do for you with ATMOSPHERE. PROVEN TO KILL COVID-19! 3 IN 1 CLEANER | DISINFECTANT DEODORIZER NO BLEACH, NO CHLORINE, NO ACID NON-ABRASIVE FORMULA WILL NOT HARM SURFACES We love people. www.atmosphereglobal.com 630-660-2833 | 708-646-6489 management that contained previous years’ meeting minutes, resolutions, finan- cial statements, management reports, and communications to shareholders; copies of the corporation’s governing documents; and printouts of various articles—some straight from this publication!—about legal precedents, board governance, and other matters related to multifamily liv- ing and the history of co-ops. While legal and management professionals universally agree that new board members should read and understand this information, it is admittedly easier said than done. In hindsight, it would have helped to have a current, knowledgeable board member walk me through some of the more salient items. Alas, I had no such guide. In our first meet- ing, in which we elected officers, it was clear that I was not the only one who needed a re- fresher on parlia- mentary procedure. We had to redo several of the votes because one mem- ber had written “sustained” rather than “abstain” on their secret ballot. It also became clear that this member was part of a major- ity faction of long- standing directors who were guided by fallacy, deferral, and nepotism. And since I was the only new member that year, discussions and voting proceed- ed without explanation or background information, using esoteric industry ter- minology and in-house shorthand that had been established long ago. “All in fa- vor of option C for the lentil \[ sic \] replace- ment?”—Huh? In spite of all that, no one stepped up for the position of secretary, so I became an officer right off the bat. This allowed me to gain extra insight and education from our extremely competent and seasoned general manager, Frank Durant of Charles H. Greenthal & Co. He took me on a tour of the co-op’s four buildings, showing me everything from the boilers to the roofs. I was able to learn about the 13-acre prop- erty’s systems, components, projects, and the correct terminology and meanings (FYI, lintels—not ‘lentils’—are the sup- port beams above openings like doors and windows), allowing me not only to engage more confidently in the boardroom, but also to translate and more clearly com- municate board actions and decisions to the co-op’s 5,000 tenant-shareholders in monthly reports. Hang Tough What I’ve learned over the years is that even beyond the community in which you live is a broader community dedicated to serving the multifamily industry. In addi- tion to the resources this publication pro- vides in print, online, and at its bi-annual trade shows, there are other organizations and associations throughout the nation and beyond that give support and guid- ance to boards and homeowners in co-op, condo, and HOA communities. Brian Butler, senior vice president of property management firm FirstService Residential Illinois, often leads educa- tional sessions targeted toward new board member orientations and returning board member boot camps. He believes that “an educated board is the key to a com- munity’s success. Having a work- ing knowledge of the community’s governing docu- ments, applicable laws, and fidu- ciary obligations to the association is critical.” He notes that large, national manage- ment firms like FirstService offer many resources to boards themselves through their website and asso- ciated events. In my first board year, Du- rant gave me in- formation to sign up for the Council of New York Co- operatives and Condominiums (CNYC) Housing Conference (http://www.cnyc. com/housing.htm), where I took classes on understanding budgets and financial statements, topics and terms pertaining to co-ops and condos, and emergency pre- paredness. CNYC also offers courses and seminars throughout the year; many are free to members. Durant also informed me about the CooperatorEvents Expos, where I met more of our service providers and ven- dors, learned about the industry, and sat in on seminars about reserve planning, problem residents, and energy efficiency. (Readers take note: CooperatorEvents’ in- person Expos are back this fall, giving you the opportunity to learn straight from the experts in all aspects of multifamily living and administration. Register for free at NEW KIDS... continued from page 25 “Board members— in all associations— are expected to use recognized experts to examine the integrity of the physical property as one of the most important responsibilities of a director, especially when lives may be involved.” —Marilyn Brainard continued on page 28 See us at Booth 504 IS YOUR ASSOCIATION POSITIONED TO SUCCEED? For over 34 years and over 60,000 times, our company has provided accurate Reserve Studies for Association-governed communities nationwide. Don't wait: A successful financial future begins with a great plan today. Contact us today for a Sample Report and no-obligation Proposal! www.ReserveStudy.com | (800) 733-1365 Guaranteed to deliver MORE solutions and LESS headaches, this powerful online tool allows Managers & Board members to easily test changes to component information and funding strategies. Reserve Planning YOUR Way! For more information, visit www.reservestudy.com/uplanit See us at Booth 316