Minutes of the Board of Trustees Meeting

Thursday, January 30, 2003

5:00 P.M.

Norman Salisbury called the meeting, convened in the community room, to order at 5:00 p.m.

Residential Trustees present and participating: Norman Salisbury, Irene Link, Sandra Lee Sterns and John Patton

Commercial Trustees present and participating: Larry Shelton, Deborah Pariseau and Donna Boes

Management present and participating: Joe Toronto

Approval of Previous Minutes: November 21, 2002

The Minutes of the November 21, 2002 Board of Trustees Meetings, upon motion duly made and seconded, were unanimously approved.

Financial Statements: December 31, 2002

The Financial Statements for December 31, 2002 were reviewed by the Manager. The Association reported an unaudited income of $-10,786.83 Year-to-Date as of ecember 31,2002. The Common Reserve Fund has an unaudited balance of $100,061 and the Residential Reserve Fund has an unaudited balance of $287,747. The Board also reviewed the Delinquency Report and the Managers explanation report of each delinquency.

Board Meeting Procedures

Trustee Irene Link introduced some procedures for conducting the open meetings in order to accommodate a more efficient means of conducting business as well as to shorten the length of the meetings. She proposed that the Trustees follow the agenda and that observers present hold their comments until after the business is completed. After adjournment, the floor will open for discussion by all present.

Building and Improvement Committee

Mike Gravitz reported that with respect to the window frames, we are still anticipating an updated estimate from the contractor that has performed a small degree of the work thus far. The Association had requested a further update in order to be sure the costs were reasonable.

On the chiller situation, Mike reported that our consulting engineer discovered some strange pressure readings in the piping to the cooling tower and suggested that this is occurring because of buildup and scale within the pipes. One of our service contractors has been attempting to correct this by continuously pumping relatively mild citric acid throughout the system in an effort to see if this situation can be improved with a minimal expense.

Mike also reported that progress is being made in determining the course of action to present to the owners for the resolution of our A/C Problems. Several critical pieces of information are still in process such as determining the availability of an superior location for a new cooling tower and an energy study to determine the degree of financial participation by Pacificorp.

Afifa Ahmad a member of the Building Committee reported that the Board should advise owners and residents to be vigilant in denying access to strangers that lurk near the entrances and follow residents into the building when we open the doors to come in. Residents should also notify security in advance if you have guests arriving and you will not be able to grant them access yourself for some reason.

Finance Committee

The Board reviewed a memorandum from a meeting of the Finance Committee held on January 16th The committee has received and reviewed the first draft of the 2003-2004 Operating Budget and is following up on some details of the draft. The committee will be reviewing the financial proposals of the HVAC repairs and encouraged the Board to take a stronger position with respect to building up the level of our Reserve Funds which at present were judged to be quite inadequate. The Board was reminded that the Committee is still seeking more members and interested owners are invited to volunteer their services.

The Board also received a draft of the 2003-2004 operating budget for review and comment.

Upon motion duly made and seconded, Ed Lin was unanimously approved to serve as a member of the Finance Committee.

Rooftop Gardening Committee

Upon motion duly made and seconded, The Board unanimously approved the appointment of Susan Crook to serve as the chairwoman of the Rooftop Gardening and Landscaping Committee. The Board also noted that Susan is a professional landscape architect and briefly reviewed her background and qualifications.

American Parking Plaza

For informational purposes, the Board received the minutes of the American Parking Plaza Board Meeting held on November 20, 2002.

Next Meeting

The next meeting of the Board of Trustees was scheduled for Thursday, February 27, 2003 at 5:00 p.m. in the Community room. Owners are encouraged to set aside the last Thursday of each month to attend these meetings and provide the Trustees with valuable feedback and input.


The meeting adjourned at 6:00 p.m.

Respectfully submitted,

Sandra Lee Sterns