Minutes of the Board of Trustees Meeting

Thursday, May 4, 2009

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 Salsibury, John Patton, Mike Gravitz.

Commercial Trustees present and participating: Donna Boes, Jonathan Dunn.

Steve Orullian was excused.

Approval of Previous Minutes

The Minutes of the March 26, 2009 Board of Trustees Meeting, upon motion duly made and seconded was unanimously approved.

Finance Committee

The Financial Statements from March 31, 2009 were reviewed by the Manager. The Association reported an unaudited operating surplus of $24,129 Year-to-Date as of March 31, 2009. The Common Reserve Fund has an unaudited balance of $370,741 and the Residential Reserve Fund has an unaudited balance of $458,207 as of February March 31, 2009. The Board also reviewed the delinquency report.

The Finance Committee recommended that the Board approve the proposed 2009-2010 operating budget which is very close to the 2008-2009 budget. The committee recommended that the Board approve no changes to the monthly condo assessments. The committee continues it's work in providing funds from the reserves for some interior decorating items that need replacement. The committee reviewed the delinquency report and developments with the GMAC bond in the Residential Reserve Fund.

Upon motion duly made and seconded, the Board approved the recommendations of the Finance Committee, approved the proposed 2009-2010 operating budget and approved no change to the monthly condo assessments.

Building Improvement Committee

The committee has received and reviewed the five bids for replacing the hot and cold domestic water pumps and has forwarded them on to the Finance Committee for it's review. The Building Committee noted that the bids all came in significantly higher than John Frank estimated.

The Building Committee and the Finance Committee have both reviewed the three bids received for roof repairs to the North Roof and recommended to the Board that the Board approve the low bid and request management to proceed with scheduling the repairs. Upon motion duly made and seconded, the Board approved the bid from Far West Roofing in the amount of $13,795 and requested management to proceed with the repairs.

Update on Smoking Complaints

The manager reviewed the status of several complaints received of second hand smoke entering other condos and the common areas of the 11th floor. It was reported the in the case of the 11th floor, that extensive fines have been assessed in accordance with the Rules and that the party causing the smoke appealed the fines to the Board of Trustees. During that meeting with the Residential Trustees, it was reported that the party causing the drifting smoke offered no suggestions for stopping the drift, refused to alter his smoking behavior and also refused to pay the fines. The Board together with the party then visited the 11th floor and determined that the offensive odors persisted, were still prevalent and denied his appeal. The Board then subsequently met with legal counsel to review possible legal remedies to the situation. The Board requested counsel to proceed and counsel is in the process of proceeding with its own investigation and further recommendations.

American Parking Plaza Meeting Minutes

The Board reviewed the minutes of the April 7, 2009 meeting of the Board of American Parking Plaza of which American Towers is a voting member.

Next Meeting Schedule

The next meeting is scheduled for May 28, 2009.


The meeting adjourned at 6:00 p.m.

Respectfully submitted,

Steve Campbell