Minutes of the Board of Trustees Meeting

Wednesday, April 27, 2005

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, John Patton, and Mike Gravitz.

Commercial Trustees present and participating: Donna Boes and Steve Tester.

Trustees excused: Larry Shelton and Sandra Lee Sterns

Management present and participating: Joe Toronto

Approval of Previous Minutes

The Minutes of the March 30, 2005 Board of Trustees Meeting, upon motion duly made and seconded were unanimously approved.

Financial Statements: March 31, 2005

The Financial Statements for March 31, 2005 were reviewed by the Manager. The Association reported an unaudited operating surplus of $143,732 Year-to-Date as of March 31, 2005. The Common Reserve Fund has an unaudited balance of $239,084 and the Residential Reserve Fund has an unaudited balance of $443,988 as of March 31, 2005. The Board also reviewed the delinquency report.

Building Improvement Committee

Mike Gravitz reported that the replacement of the fire alarm system is progressing. We plan to implement an ongoing testing and training program. It will result in some inconvenience to residents when we activate alarms for testing, but it is felt that keeping the system properly maintained is of vital importance.

The Building Committee has been in the process of acquiring and making backup copies of all of the service and maintenance documentation for the AC system. A few interesting glitches have been uncovered and, based upon the documentation, have been corrected. The AC system was designed with redundant backups in the equipment and in the controls. If the control computer were to fail, the AC system would continue to function with it's own digital controller or in a manual control mode. However, the committee has also created backups of the AC control computer on separate hard drives. Should the control computer hard drive fail, the backup hard drives can readily be installed and the AC system can continue to be monitored, adjusted and controlled.

Part of the control system is a web server that allows remote access and control, through the interet, of the AC system. Once all of the kinks are worked out and debugged, this can also be made accessible to residents with a "view only" password so that residents can view the various temperatures and readings of the AC, hot water, pool, hot tubs and other mechanical systems.

It was reported that the Committee, in it's ongoing testing of the AC system, uncovered an apparent design flaw in one of the energy saving features of the system that cannot be corrected without some expense. Our design engineer, John Frank, recommended that this particular new feature is of marginal value and that the AC system will function fine, if not better, by not attempting to utilize the feature.

Plaza waterproofing and reconstruction contract has been let to Big D Construction and work will begin in May as soon as city permits are obtained.

Finance Committee

After motion duly made and seconded, the Board unanimously approved the appointment of Ted Roper to the Finance Committee.

John Patton reported that the next objective of the Finance Committee is to obtain revised and updated reserve studies for the two reserve funds. These reserve studies project future capital needs for equipment maintenance or replacement. Since our AC system is new, the AC components need to be updated with a new estimated life and costs. The reserve studies will also useful in setting and apportioning the monthly assessment according to actual needs after the plaza project is completed.

APP Board Meeting Minutes

The Board received and reviewed the American Plaza Parking Board meeting minutes of April 5, 2005 and March 29, 2005.

Next Meeting

The next meeting is scheduled for Wednesday, May 25, 2005.


The meeting adjourned at 6:00 p.m.

Respectfully submitted,

Mike Gravitz