AMERICAN TOWERS OWNERS ASSOCIATION

Minutes of the Residential Board of Trustees Meeting

Wednesday, December 7, 2016

7:00 P.M.

Sandra Lee Sterns called the meeting, convened in the Community Room, to order at 7:00 p.m.

Residential Trustees present and participating: Sandra Lee Sterns, Lance Williams, Melyn Campbell, and J.R. Gabriel.

Approval of Previous Minutes

The Minutes of the October 12, 2016 Annual Meeting of the Members upon motion duly made and seconded were approved.

Finance Committee

The Financial Statements November 30, 2016 were reviewed. The Association reported an unaudited operating surplus/(deficit) of ($5,222) Year-to-Date as of November 30, 2016. The Common Reserve Fund has an unaudited balance of $336,704 and the Residential Reserve Fund has an unaudited balance of $405,129 as of November 30, 2016.

Building Sign on South Tower

Upon motion duly made and seconded it was unanimously decided to accept the concept proposal for American Towers signs on the South Tower facing Third South as the North Tower above the Lobby entance and to proceed to obtain cost proposals.

Comcast TV Contract

It was reported that negotiations are continuing with Comcast for a short-term contract that will include HD and the X1 Platform. Comcast is asking for a three year contract and AT is asking for a maximum two year contract. If agreement cannot be reached, our existing contract has already met the requirements to extend the contract for two years.

First Digital Internet Contract

Upon motion duly made and seconded, the contract with First Digital to provide internet service to all Units was unanimously approved.

Short-term Rental Rules

Upon motion duly made and seconded, the following rule regarding short-term rentals was unanimously approved:

c. Any Owner violating the strict prohibition on transient or hotel type leasing as written in Article 5, Section 3 of the CC&R's by renting all or a part of the Unit on a daily, nightly or weekly basis, or by listing the Unit for daily, nightly or weekly rental through online or other rental services, shall be fined $500 for the prohibited listing itself, and fined an additional $500 for each prohibited rental.

Racquetball Court Modification

Upon motion duly made and seconded, it was unanimously decided to solicit bids to install a basketball backboard and hoop in one of the racquetball courts.

Adjournment

The meeting adjourned at 8:30 p.m.

Respectfully Submitted,

Lance Williams
Secretary