SALE OF CONDOMINIUMS, THE NATHANIEL AT BANKS SQUARE 948 MAIN STREET, WALTHAM (Former Banks School)

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1 THE CITY OF WALTHAM MASSACHUSETTS PURCHASING DEPARTMENT SALE OF CONDOMINIUMS, THE NATHANIEL AT BANKS SQUARE 948 MAIN STREET, WALTHAM (Former Banks School) A D D E N D U M N O. 2 Sept. 11, 2015 CHANGES, CORRECTIONS AND CLARIFICATIONS The attention of bidders submitting proposals for the above subject project is called to the following addendum to the specifications. The items set forth herein, whether of omission, addition, substitution or clarification are all to be included in and form a part of the proposal submitted. THE NUMBER OF THIS ADDENDUM (NO. 2) MUST BE ENTERED AT THE BOTTOM OF THE BID PRICE SHEET ITEM 1: ANSWERS TO POSED QUESTIONS Q1. Are pets allowed in the building? A1. Please see in the bid packet Schedule A, Page 19 paragraph number 20 pertaining to pets. Q2. Is there a budget for the condo fee? How is the amount determined? Is there any money already in reserve? A2. Yes. See attached Estimates. There is no money in reserve at this time. Q3. Is there any warranty with the town for building defects? For example: what happens if the wall cracks or roof leaks? A3. The City will respond to maintenance and warranty calls as long as the City s ownership of the building is above 51%. Under 51%, the Building Trust or Condo Association and the homeowner will be responsible for all common areas repairs and in the units. 1

2 ADDENDUM NUMBER 2 (CONT.) 9/11/2015 Q4. Is there any contracts already in place for cleaning the hallways, lawn care, or anything along those lines? If not, who arranges and sets this up? Does the town help with this? A4. There are no contracts in place. However the City will respond to maintenance and warranty calls while the City s ownership of the building is above 51%. Thereafter, Condominium Trust will contract with vendors. Q5. Does the gym and the auditorium have AC and heat? A5. There is no AC in the Gym and Auditorium. There is heat in both locations. Q6. Is there any type of outside lighting in place around the building and parking lot? A6. Yes. Q7. Is there any reason that a garbage disposal cannot be put in? A7. The City does not know the answer to this question. A plumber would have to be consulted. Q8. What do you do with your trash? I did not see dumpster or any place to drop it off. A8. A dumpster will be placed in the allowed area as indicated in Sheet L1. Q9. Is there anyway to $1000 refund back if the place does not pass inspection or I cannot get a mortgage? A9. The City will return 100% of the deposit if the City does not accept your proposal. No deposit will be refunded if the bidder defaults on his/her obligation. Q10. Has the building been tested for lead or asbestos? A10. The identified asbestos by a licensed hygienist was removed Dec by EnviroVantage Inc of Epping NH. With regard to the lead, please see Appendix I in the public bid ocument. Q11. Have occupancy permits been issued? A11. All certificate of occupancy have been issued with the exception of unit number 301. That Certificate of Occupancy will be issued shortly. Q12. Does the city have any mortgage lenders lined up already? A12. Watertown Savings Bank. Q13. Should the bid bank check be made out to the city of Waltham only in which case I can't cash it if returned or to the city of Waltham or The bidder s name? A13. The Check should be made out to City of Waltham or (insert your name). Q14. Can the sprinkler heads in both the closet and cabinet of unit# 201 be removed or are they functional? A14. The Sprinkler heads have been installed in all of the required locations as per Building Code and Fire Department Requirements. Q15 The floor of the closet has a thick asphalt like covering was flammable materials stored here or was this unit a chemistry lab? 2

3 ADDENDUM NUMBER 2 (CONT.) 9/11/2015 A15. This is a former closet used by the school children for the storage of coats, boots and school bags. No flammable material has ever been stored in these closets. Q16. Can storage be used to work on minor repairs to household items? A16. This is up the Trustees or the Condo Association. Q17 Is there any warranty on the work done in the units, the HVAC system and the appliances or are the units being sold ' as is ' and if there is a problem after the unit is purchased then its the new owners responsibility and not the contractor or city s? A17. See Question Q3 and Answer A3 above. Q18. Who is the contractor who built the units; there were no issued permits for the work done on the city web site which usually lists the contractors name? A18. Phase one was built by J.T. Haffey Builders Inc. of Framingham MA. Phase 2 and 3 were built by Five Stars Building Corp. of East Hampton, MA. All permits were issued to the building companies at every stage of the construction. Q19. What are the monthly utilities costs for a one bedroom, especially with electric oven and, I think, with electric heating and cooling. A19. The condo Units are brand new. The City does not have this data since the appliances were never used. It is gas heating and cooling, not electrical. Q20. What are the monthly utilities costs for the Gym and Auditorium? A20. The City does not have this data since the locations were never used. Q21. Do the condo fees include the cost of running the Gym, the Auditorium and common areas? A21 Yes. Q22. Are window screens included? A22. The building was never outfitted with screens, but the City is looking into the issue. End of Addendum 2 3

4 THE NATHANIEL AT BANKS SQUARE CONDOMINIUMS BUDGET 2016 INCOME: 2016 Budget Estimated 2015 Actual 2015 Condo Fee Supplemental Condo Fee $0 Interest $0 Late Fee $0 Legal $0 Insurance Claim $0 Misc. Income $0 TOTAL INCOME EXPENSE ADMIN Accounting Audit Bank Charges $0 Collection Fee $0 Function Meetings $0 Legal $0 Management Fee Misc. Admin Postage/Print/Misc. Other TOTAL ADMIN. $0 EXPENSE REPAIR Electrical Plumbing Roof Elevator Other TOTAL REPAIR $0 EXPENSE MAINTENANCE Building Supplies Cleaning $6,000 Elevator Maintenance $1,900 Fire Alarm Maintenance $350 Landscaping $8,700 Other Landscaping Maintenance $1,000 Misc. Service Pest Control Snow Plowing $22,425 Other Snow Removal Refuse/Dumpster $4,800

5 THE NATHANIEL AT BANKS SQUARE CONDOMINIUMS BUDGET 2016 TOTAL MAINTENANCE $45,175 EXPENSE INSURANCE & TAXES Insurance* $10,000 $20,000 Insurance Claim Other Permits & Fees Taxes *(Will drop to $10K once 50% occ.) TOTAL INSURANCE & TAXES $10,000 EXPENSE UTILITUES Electricity $1,000 Elevator Phone $600 Gas $500 Water & Sewer $6,000 TOTAL UTILITIES $8,100 RESERVE $8,000 TOTAL EXPENSES $71,275

6 Estimated

7 Estimated Real Estat Tax Liability