AMERICAN TOWERS OWNERS ASSOCIATION

Minutes of the Board of Trustees Meeting

Wednesday, April 26, 2006

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 and Sandra Lee Sterns

Commercial Trustees present and participating: Larry Shelton, Donna Boes and Taymour Semnani.

Approval of Previous Minutes

The Minutes of the March 29, 2006 Board of Trustees Meeting, upon motion duly made and seconded were unanimously approved.

Finance Committee

The Financial Statements from February 28, 2006 were reviewed by the Manager. The Association reported an unaudited operating surplus of $20,779 Year-to-Date as of February 28, 2006. The Common Reserve Fund has an unaudited balance of $211,012 and the Residential Reserve Fund has an unaudited balance of $296,174 as of February 28, 2006. The Board also reviewed the delinquency report.

The Finance Committee reviewed and recommended approval of several items. The Committee reviewed the final draft of the new reserve studies and the 2006-2007 proposed operating budget and assessments and recommends approval. Upon motion duly made and seconded, the Board unanimously approved the budget and assessments for the 2006-2007 fiscal year but to take effect on June 1, 2006.

The Committee also proposed that the Board affirm a policy that owners are responsible for personal property inside of their condos including, carpets, flooring, interior walls and paint and wall coverings and should be encouraged to obtain insurance policies for their personal property, condo contents and personal liability. The Board unanimously approved the policy and voted to consider specific language at a subsequent meeting for requiring owners to obtain these insurance policies.

Building Improvement Committee

Mike Gravitz reported that the most recent Legionella bacteria tests show that our recent "cook & flush" procedure was effective in reducing the bacteria count substantially although not quite to the level of our previous procedure. This indicates that additional efforts need to be taken to ensure a high level of owner participation with each procedure as it appears that owner interest may diminish over time. He also indicated that we will likely cut back our monthly testing to bi-monthly testing.

The Building Committee also proposed that the Board change our policy of permitting our maintenance staff to perform work orders for owners in their condos. The policy has been creating demands on their time which should be dedicated to maintaining our mechanical equipment and our common areas. Upon motion duly made and seconded, the Board unanimously approved a new policy to not permit private work orders by our staff for owners or residents other than to investigate emergency situations. The Board also agreed to consider specific language to change the Rules and Regulations to enact the policy at the next meeting.

Adjournment

The meeting adjourned at 6:00 p.m.

Respectfully submitted,

Mike Gravitz
Secretary