Hi Paula
I went ahead and made a spreadsheet to help assist with this question. It’s attached. If you just change the NEW Annual Amount on the spreadsheet for either Management or Reserves – it will automatically populate the rest based on par value.
As we have crossed into the New Year and I am heading up operations at New Washington Land now, I also wanted to reach out to you all to discuss the possibility of continued management of Canal Terrace.
As you may have found through your bid process, New Washington Land was previously managing Canal Terrace at a lower than market rate. If you all are interested in staying with New Washington Land, I would be happy to discuss full service management with the Board. We know the condominium better than anyone else, so it might make sense to stay with us. Lisa would remain the point person and I would handle any problems which are escalated – similar to how I run Kenyon Square. I believe you guys use the same legal team as Kenyon Square.
Let me know if you are interested in discussing this option further.
Regards,
____________________
Josh Smith
NEW WASHINGTON LAND
1804 T St NW, Suite 1
Washington, DC 20009
202-483-8282 Office
<Canal condo fee increase reserve and management 011113.xls>