Hi Alex

I approve the payment.

Pauline

On Mon, 20 Jul 2020 at 11:49 AM, Alex King via Ucol-shareholders <ucol-shareholders@list.king.net.nz> wrote:

Hi Everyone,

So far we have 11 of 26 units (14 people) in agreement (green or blue
card) for immediate payment, and 3 or 4 wanting to wait and have further
discussion on it (perhaps orange cards at this stage?)

That means we have heard from just over half of our unit
purchasers/shareholders, and we would need 100% agreement to make a
formal shareholder resolution by email.

(If I had thought about it more clearly after our previous discussions,
I would have mentioned to use the coloured cards to indicate your level
support.)

The next steps are a PCG meeting and meeting with Stefan tomorrow, and
Anne will be setting up the bank payment early this week (today? being
the 20th), and we have our regular meeting on Thursday.  I asked Sander
to put an item on the agenda whatever happens meantime.  It seems we
would make a part payment today, but we may be in a position to pay the
balance on Friday if we so decide.

Thanks,
Alex

On 20/07/20 9:25 am, mariannequinn@xtra.co.nz wrote:
> I agree with Sandy and Frances about this and hope to hear more. I do
> appreciate the Directors position and steps being taken to prevent this
> occurring again.
>
> Regards
>
> Marianne
>
> Marianne Quinn
>
> Level 3, 115 Stuart Street, Dunedin
> P.O. Box 20, Dunedin 9054
> ph +6434773115 or 0211612050
>   
>   
>
> -----Original Message-----
> From: Ucol-shareholders <ucol-shareholders-bounces@list.king.net.nz> On
> Behalf Of Sandy Ross
> Sent: Friday, 17 July 2020 7:34 PM
> To: Alex KIng <alex@king.net.nz>
> Cc: UCOL Shareholders <Ucol-shareholders@list.king.net.nz>
> Subject: Re: [Ucol-shareholders] Approval for above budget expenditure to
> fix PassiveHaus compliance issues
>
> Hi Alex,
>
> I would like to hear a little more of the process and background of this
> before agreeing. Presumably it will be gone through in more detail at the
> PCG meeting on Tuesday morning.
>
> Frances
>
>> On 17/07/2020, at 3:50 PM, Alex King via Ucol-shareholders
> <ucol-shareholders@list.king.net.nz> wrote:
>> Hi,
>>
>> Please email me back with approval to spend an extra $26,000 on the build.
> (Or not)
>> The directors have been asked to approve a payment for some extra work
> involved in achieving passivehaus compliance that was not detailed on the
> plans.
>> The main issue (with details and extra taping required around the
> inter-tenancy walls) has been costed at just over $26,000 to rectify, and
> the contractors have already done the majority of the work, including some
> extra labour they did not charge us for.
>> We are getting low on contingency. (approximately $100,000)  We can afford
> to pay the $26,000 now, but if other things come up that are essential to do
> in future it makes it more likely we will need to find further funds, beyond
> the price for the units you have signed up for.
>> I would appreciate people's approval for us to pay the extra $1000 per
> unit for work that was mostly completed already. Technically the directors
> require approval of shareholders to spend amounts more than $20,000 over
> budget.
>> The directors have only just become aware of this situation because the
> contractors were not strictly following the process for variations.  It has
> already been raised with the contractors, and directors will insist that
> future variations are done correctly, so we get to approve this type of work
> before it is done.
>> If anyone responds that they don't want to approve this yet, we will delay
> paying that part of the contractor's invoice, and we will discuss it at our
> next meeting.  They are doing a great job overall other than this issue.
>> Thanks,
>> Alex
>>
>>
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>> Ucol-shareholders@list.king.net.nz
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