AMERICAN TOWERS OWNERS ASSOCIATION

Minutes of the Board of Trustees Meeting

Thursday, August 30, 2007

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, Sandra Lee Sterns, and John Patton

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

Excused: Mike Gravitz

Approval of Previous Minutes

The Minutes of the July 26, 2007 Board of Trustees Meeting, upon motion duly made and seconded were unanimously approved.

Finance Committee

The Financial Statements from July 31, 2007 were reviewed by the Manager. The Association reported an unaudited operating surplus of $46,073 Year-to-Date as of July 31, 2007. The Common Reserve Fund has an unaudited balance of $257,170 and the Residential Reserve Fund has an unaudited balance of $335,089 as of July 31, 2007. The Board also reviewed the delinquency report.

As part of the committee's annual budget preparation and review, it was requested that each of our departments submit anticipated or extraordinary cost or expense estimates for the upcoming fiscal year. The committee also requested that suggestion forms be included in the next newsletter so that owners and residents can more easily submit ideas for improvement to the Board.

Building Improvement Committee

It was reported that the fan coil unit for each condo has a drip pan which also has a drain system. Repairs are presently being conducted on this drain system as it has been overflowing at the bottom of the drain pipe on the third floor. It was also reported that our boilers are presently being serviced in preparation for winter. The air conditioning system has performed flawlessly this summer. One chiller generally carries the full load and when both are running in tandem, they rarely exceed 50% of their capacity.

Swimming Pool and Spa Rules

The County Health Department has notified the Association that due to a recent outbreak of cryptosporidium, some new rules will be imposed regarding our swimming pool and spas. It was noted that these rules generally embody good hygiene and that the Board should consider adding these rules permanently to our own Rules and Regulations. It was objected that the new rules prohibit children under the age of 5 in the pool at all times and that many residents use this amenity specifically for young grandchildren. After discussion, the Board decided to table the proposed rules as a permanent addition to our rules pending further discussion.

Review of APP Meeting Minutes

The Board reviewed the minutes of the American Parking Plaza board meeting minutes of July 17, 2007.

Next Meeting

The next meeting was scheduled for November 29, 2007.

Adjournment

The meeting adjourned at 6:00 p.m.

Respectfully submitted,

Mike Gravitz
Secretary