Minutes of the Board of Trustees Meeting

Tuesday, September 27, 2011

5:00 P.M.

Mike Gravitz called the meeting, convened in the Community Room, to order at 5:00 p.m.

Residential Trustees present and participating: Mike Gravitz, Steve Campbell, Bret Marshall and Ted Roper.

Commercial Trustees present and participating: Larry Shelton, Heather Bowen and Donna Boes.

Appointment of New Commercial Trustee

The Board welcomed Larry Shelton as the appointed Commercial Trustee who will be replacing Steve Hansen.

Approval of Previous Minutes

The Minutes of the August 3, 2011 Board Meeting upon motion duly made and seconded were approved.

Finance Committee

The Financial Statements from August 31, 2011 were reviewed. The Association reported an unaudited operating surplus/(deficit) of $(3,216) Year-to-Date as of August 31, 2011. The Common Reserve Fund has an unaudited balance of $163,857 and the Residential Reserve Fund has an unaudited balance of $374,207 as of August 31, 2011. The Board also reviewed the delinquency report. The Board also reviewed a settlement offer on a delinquent account from KQT LLC and subsequently took no action on the offer.

Building Improvement Committee

The Committee reported on a number of fully completed projects, the 2nd floor roof over Commercial and the amenities is now complete, the Card key system is also fully repaired, the hot tubs have been re-coated and sealed, and the racquetball courts have been resealed.

The Committee also reported that the cause of the widely fluctuating hot water pressures has finally been identified as a mechanical problem with the pressure monitoring devices and gauges on the hot water pumps. The pressures have now been stabilized, but we need additional parts for final repair.

The membrane roof on the top of the south tower is in similar condition to that of the 2nd floor roof. It is past it's serviceable life and we have been unable to locate and repair several leaks. Our roofing consultant is in the process of preparing recommendations for that roof. We will shortly be performing a test of the north tower metal roof in order to evaluate alternatives that will be acceptable to current building codes.

The AC coils for the fans that supply air to the hallways have now been replaced and new digital controls have been installed. The failure and subsequent freeze up was covered by our boiler and machinery policy which paid for the coils and new controls with only a $2,500 deductible.

Redecorating Committee

The Committee reported that they are in the process of evaluating the next steps or projects to prioritize, the costs of such, and coordinating with the finance committee when funds will be available for them.

Declaration and Rules & Regulations

The Board again reviewed a letter from out attorney in response to allegations that owners may not have roommates since our Declaration dictates that each Unit shall be used only as a private single family residence. Our attorney indicated that since the Declaration is silent as to what constitutes a single family residence, the Association should look to the City ordinances for a definition which is that a single family is 3 or fewer individuals not related by blood. The letter indicated that Owners may solicit up to two additional rent paying roommates and be within the regulations of the Declaration and the City Zoning codes. The Association may also require said roommates to sign the approved lease agreement.

American Plaza Parking Board Meeting Minutes

The Board reviewed the minutes of the August 25, 2011 Board Meeting of American Plaza Parking.

Next Meeting Schedule

The next meeting was scheduled for Tuesday, October 25 at 5:00 p.m. The Board requested that future meetings be held on the last Tuesday of each month.


The meeting adjourned at 6:00 p.m.

Respectfully Submitted,

Steve Campbell