2024
HCT
Dear Harborside Unit Owners,
We hope this letter continues to find everyone safe and healthy and we want to wish everyone a Happy New Year.
The Harborside Condominium Trust Board of Trustees with support from Lesley Management Inc. has approved the enclosed 2024 working budget. There is no change in total income, therefore no change in your monthly condominium fee. In addition to the anticipated operational expenses, highlights of the Year 2024 Budget include:
- A Carry forward amount of $138,360 which is equal to the amount budgeted to complete the D Building Egress Project
- The Loan principle and interest payment line item: $113,000
- $13,000 dedicated to refinishing the railing system in B & C Building
- $10,000 in general sea wall maintenance
- $40,535 in general maintenance
- $55,000 in Reserve Account Contribution
If you have not done so already, we ask that you please set up your monthly condominium fee payments through the online portal system available.
Condominium Fee Payment: Pay online through your homeowners’ portal. Once your portal has been activated you will be able to set up payments online. You will need to click on the payments tab and select “Pay Now” or “Set Up Autopay.”
The “Pay Now” option is a onetime payment.
The “Set Up Autopay” option allows for you to set up reoccurring payments.
When scheduling your autopay, you will need to schedule monthly payments. Please set your payment date for the 1st of the month. You will have the option to select a specific dollar amount that’s charged each month or to pay the full balance on the account:
- If you select a specific dollar amount to pay each month you will need to enter the exact amount of your unit’s condominium fee. PLEASE NOTE: you will need to manually change the amount being paid if there is a change in your condominium fee.
- If you scheduled payment in the form of “pay the full balance” this will automatically update the monthly payment if there is a change in your monthly fee amount. PLEASE NOTE: the full balance on your account will automatically be paid at the next scheduled payment date.
Ways to pay through your portal:
- Echeck (Free of charge)
- Debit Card (Flat fee of $9.99 per transaction, non-refundable)
- Credit Card (Fee of 3.49% of the total amount per transaction, non-refundable) o Credit or debit card payments can be made with Visa, MasterCard, JCB, Diner’s Club or Discover branded cards from any country. American Express, gift cards and prepaid cards are not accepted.
| Secure | Fast | Convenient | Flexible |
| Online payments are encrypted using bank-grade security. | Your charges are immediately marked as paid. | Pay from anywhere. | Choose how you pay: eCheck, Debit or Credit Card, or Apple Pay. |
If you are not able to set up payment via the online portal, please continue to make your checks payable to Harborside Condominiums and mail to Lesley Management at the address below. A $25 late fee will be strictly enforced.
We are hopeful that Year 2024 brings peace to everyone and again we wish you all a Very Happy New Year. If you have any questions, please do not hesitate to contact our office.
Sincerely,
Kimberly Lord
Lesley Management, Inc.
HDC
2023
HCT
HDC
2022
March 25 2022
Dear Harborside Condominium owners,
As you are aware, the Harborside Condominium Trust is moving ahead with initiating urgent repair work on Buildings D and C (the combined project). The work on Building D was cited as urgent by the Marblehead Fire Chief and the work on Building C was mandated by the Trust’s insurance carrier.
During our meeting with owners on Wednesday, March 16, 2022, the Trust provided an update on the status of the combined project and an estimate of the cost that included a contingency for unforeseen expenses.
Subsequently, by a poll of all owners conducted by email, the Trust asked each owner to select their preferred option from two alternatives for financing the combined project. Most owners responding voiced their preference for Option A. Accordingly, the Trust is moving ahead with a supporting loan application.
Procedurally, pursuant to the requirements of the Trust’s governing documents the attached formal ownership vote is being taken to authorize the Trust to obtain a line of credit up to $850,000 to support the proposed egress on building D and siding work on Buildings D and C. Based on the results of the selected Option A, the Trust’s intent will be to limit borrowing to $350,000. In the event circumstances dictate the need to go above $350,000 owners will be informed along with the rationale for doing so. (The $850,000 credit line limit was established to act as a hedge against future unknown requirements).
Please read the attached ballot, sign and date indicating your approval of the loan, including your unit number.
Please print the ballot, sign and scan it or alternatively sign it and make a photo of the signed ballot. Please return the scan or photo by attaching it to an email to Lesley Management by no later than 5:00 pm (Boston time) on Wednesday March 30, 2022.
Thank you for your continued support!
Harborside Condominium Trust
HCT
Dear Harborside Unit Owners,
We hope this letter continues to find everyone safe and healthy. Last year, 2021, continued to present challenges to business and personnel alike. We all have felt changes and faced the need to adapt to new surroundings, modified routines, and continued restrictions in our everyday life. We finished the year out strong and continue to be optimistic that this Upcoming New Year returns us to healthy new normalcy.
Harborside Condominium Trust was not alone when it faced these challenges. However, we are happy
to report that Trust was able to complete several accomplishments last year. The Trust closed out a
number of old COi permits, some dating back to the l 990’s. GZA completed a Drainage Study, updated their 201 7 Seawall report, and routine maintenance was completed on the Seawall. The south end of the parking lot was replaced. The D Building entry and stairwell were cleaned up with new rugs and tiles,
and preliminary painting services were completed. Significant repairs were made to the railing system on A Building, a new flagpole and light were installed, speedbumps were installed, and new signs were placed around the property to help identify buildings.
Significant movement occurred on the D Building Egress project including the completion of the design, the approval from Old & Historic, ZBA, and Conservation Commission, the solicitation of proposals,
the creation of the financial advisory group, and then narrowing down on vendor selection.
In reviewing the current operational expenses and keeping the Trust compliant with Fannie Mae
guidelines for Reserve Account Contributions, the Harborside Condominium Trust Board of Trustees
has approved the enclosed 2022 working budget. The Board of Trustees will adjust the Budget as
needed to include the financing for the D Building Egress upon receipt of construction costs.
Please continue to make your checks payable to Harborside Condominiums and mail them to Lesley
Management at the address below. A $25 late fee will be strictly enforced.
You may find it helpful to pay your fees online, via your bank’s online bill-pay system. To do this, you need the following information:
Harborside Condominiums
PO Box 946, Marblehead, Massachusetts 01945. Include Your Unit Number and Your Monthly Condominium Fee Amount.
Again, we are hopeful Year 2022 brings stability to everyone and we wish you all a Very Happy New Year. If you have any questions, please do not hesitate to contact our office.
Sincerely
Kimberly Lord
HDC
2021
HCT
HDC
2020
HCT
Harborside Project List
HDC
2019
Harborside Project List
HCT
HDC
2018
2017
August 2 2017
2016
2015
December 1 2015
Update 12.2.15 and Budget Year 2016
August 4 2015
May 18, 2015
Dear Harborsiders,
Below are three spreadsheets with updates for the B Building Reconstruction project.
The first, Project Budget vs. Actual Expenditures to Date at 5/6/2015, provides a summary of the overall status of the project, and compares the budget set at the start of reconstruction on 9/9/2014 with actual expenditures through the most recent payment to Paradise Construction. “Overages” are items that are over budget or were not budgeted. “Underspent Items” have remaining work to be completed and final costs may not yet be determined. The impact of the Egress lawsuit is apparent in the costs for Legal, Architect, and Other Expenses
The second, Paradise Construction Contract at 5/6/2015, shows the initial value of the construction contract with Paradise Construction, LLC, and the value of all change orders through 5/6/2015, summarized in general categories. In this regard, please note that the Egress change orders are for design fees for the steel structure and geotechnical exploration. Code Compliance change orders include additional structural reinforcements, reconstruction of the boiler room and removal and replacement of out-of-code piping, additions to the alarm system and relocation of the alarm monitoring panel., and reconfigured windows and enlarged doors to meet Building Code egress requirements.
The third, Project Sources of Funding at 5/6/2015, shows how the total project costs are being paid for. We call your attention to two sources of funding outside of the Travelers Insurance and the Supplemental Condominium Fees & Bank Loan. First, there were Owner requested changes, both for three of the units undergoing renovation and for sprinkler installations in three additional units. In addition, the Harborside Condominium Trust is responsible for two change orders to be paid from operating funds: snow removal and disposal into Marblehead Harbor to comply with the directive of the Marblehead Fire Chief, and enlargement and extensions of the sprinkler water supply lines to accommodate C and D Buildings in the future.
Sincerely,
Harborside Board of Trustees
| Harborside Condominium Trust | |||||
| B Building Reconstruction Project | |||||
| 18-‐May-‐15 | |||||
| PROJECT BUDGET VS ACTUAL EXPENDITURES TO DATE | |||||
| Description | Budget 9/9/14 |
Actual Expenditures 5/6/15 |
Overages/ (Underspent Items) | ||
| Prior to 9/1/2015: Secure Building, Demolition, Prior Fire and B-‐1 | $304,667 | $ 3 04,667 | $ -‐ | ||
| Common Areas and Units Reconstruction | $946,720 | $ 6 39,497 | $ ( 307,223) | ||
| Sprinkler System: Interior Piping and Water Supply | $110,000 | $ 86,559 | $ (23,441) | ||
| Egress | $250,000 | $ 4,960 | $ ( 245,040) | ||
| Architect: Pitman & Wardley | $17,000 | $ 19,909 | $ 2,909 | ||
| Public Adjuster | $67,614 | $ 67,937 | $ 3 23 | ||
| Legal, Includes Zoning Hearing | $30,000 | $ 51,044 | $ 21,044 | ||
| Legal -‐ Lawsuit | $ -‐ | $ 20,818 | $ 20,818 | ||
| Other | $10,000 | $ 20,963 | $ 10,963 | ||
| Contingency | $129,900 | $ -‐ | $ ( 129,900) | ||
| Total | $ 1,865,901 | $ 1,216,354 | $ ( 649,547) | ||
| Items Outside of Project Funding Owner Paid Upgrades & Change Orders | $101,961 | $ 25,394.00 | $ (76,567) | ||
| HCT Operating Expenses | $ 33,597 | $ 3,597 | $ (30,000) | ||
| Grand Total | $ 1,245,345 | $ ( 756,114) | |||
| Overages are items over budget or unbudgeted | |||||
| Underspent Items have remaing work to be completed |
| Harborside Condominium Trust | ||||
| B Building Reconstruction Project 18-‐May-‐15 | ||||
| Paradise Construction Cotract | ||||
| Base Contract Value | $ 1,315,444.34 | |||
| Sprinkler Change Orders | $ 7,313.45 | |||
| Egress Change Orders | $ 30,646.00 | |||
| Code Compliance Change Orders | $ 84,028.80 | |||
| Construction Operations Change Orders | $ 1,027.80 | |||
| Owner Requested Change Orders | $ 1 01,861.26 | |||
| HCT Operations | $ 33,597.00 | |||
| Total Change Orders | $ 258,474.31 | |||
| Contract Value @ 5/6/15 | $ 1,573,918.65 |
| Harborside Condominium Trust | ||||
| B Building Reconstruction Project | ||||
| 18-‐May-‐15 | ||||
| PROJECT SOURCES OF FUNDING | Budget | Expended to Date | Available | |
| Travelers Insurance | $ 965,912 | $ 970,539 | $ 4,627 | |
| Supplemental Condo Fees & Bank Loan | $ 900,000 | $ 188,190 | $(711,810) | |
| Total | $ 1,865,912 | $ 1,158,729 | $ 707,183 | |
| Retainage from Paradise | $ 71,859 | |||
| Unbudgeted Sources | Committed | |||
| Owners Payments for Changes | $ 101,961 | $ 101,961 | ||
| HCT Operating Budget -‐ Snow Removal | $ 3,597 | $ 3,597 | ||
| HCT Operating Budget -‐ Sprinkler Supply | $ 30,000 | $ 30,000 | ||
| Grand Total | $ 2,001,470 | $ 1,230,588 |
2014
October 15 2014: letter – owners explanation of loan payments 10.15.14
July 15 2014: Letter to Owners 2014 Performance
May 25 2014: Harborside Loan Vote
May 23 2014: 052314Ballot Clarification
PAYMENT_PREFERENCE_(NON-BINDING)_-_ASSESSMENT_FOR_B_BLDG_RECONSTRUCTION
BALLOT_-_UNIT_OWNER_APPROVAL_TO_BORROW_FUNDS_FOR_HARBORSIDE_B_BLDGRECONSTRUCTION
May 3 2014: Harborside Update, 3 May 2014
November 23 2013: Letter – Year End Financials and Budget 2014
2013
Year End Performance 2012 and 2013 Budget
2012
2012 Financial Projections and 2013 Budget
Letter to Owners 2012 Performance
Letter – Year End Financials and Budget 2013
2011
Letter – Year End Performance 2011
Letter – Notice of Assessment 11172011
Notice of Special Assessment, 1-3-11
2010
20100713 2010 Annual Owners Meeting
Board Letter to Owners, 1-22-10
Common Element Fee Schedule 2010
Final Notice of Special Assessment MhdBank Loan
HO Ltr 2010 Yr end Performance
2009
2009 Budget 2010 Proposed, 11-29-09
20090715 2009 Annual Owners Meeting
2008
2008 Year End Financial Performance Letter to HO with attmts
2008 Year End Financial Performance Letter to HO
20080712 2008 Annual Owners Meeting
20081126 2008 Financial Projections & 2009 Budget
20090115 2008 Year-end financial Performance
Board letter-budget, re annual mtg, 7-12-08
Board letter, re annual mtg, 7-12-08
harborside performance to budget
2007
20070728 2007 Annual Owners Meeting
20071104 2007 Financial Projections & 2008 Budget
20080128 2007 Year-end Financial Performance
2006
20060728 2006 Annual Owners Meeting
20061127 2006 Financial Projections & 2007 Budget
20070116 2006 Year-end Financial Performance
2005
20050729 2005 Annual Owners Meeting
20051125 2005 Financial Projections & 2006 Budget
2004