Minutes of the Board of Trustees Meeting

Thursday, September 30, 2004

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, Mike Gravitz and Sandra Lee Sterns

Commercial Trustees present and participating: Larry Shelton, Donna Boes and Steve Tester.

Management present and participating: Joe Toronto

Approval of Previous Minutes

The Minutes of the August 5, 2004 Board of Trustees Meeting, the August 14, 2004 Annual Meeting, and the September 2, 2004 Board of Trustees Executive Meeting, upon motion duly made and seconded were unanimously approved.

Financial Statements: August 30, 2004

The Financial Statements for August 30, 2004 were reviewed by the Manager. The Association reported an unaudited surplus of $44,035 Year-to-Date as of August 30, 2004. The Board also reviewed the delinquency report.

Finance Committee

The Board reviewed the minutes of the Finance Committee meeting held on September 24, 2004. The Committee proposed a number of rule changes with fines and some fee increases that the Board will review and discuss for future action.

Building Committee

Mike Gravitz reported that the air conditioning system is operating well when operating in chiller mode but has yet to be properly tried and tested in heat exchanger mode, which is the mode for cooler weather and winter. System commissioning is underway and will be completed within 30 days.

It was also reported that the fire alarm system has recently been experiencing ongoing trouble points that thus far we have been unable to correct. A trouble point is not the same as an alarm, but is an alert for a malfunction of some of the alarm devices. Our servicing agent recommends a fairly expensive upgrade to most of the hardware and software of our system, however, we are in the process of soliciting repairs and proposals from other vendors.

Two of the four parking garage ventilation fans have been repaired and some additional modifications are underway to enhance the air circulatory pattern in the garage.

APP Board Meeting Minutes

The Board received and reviewed the American Plaza Parking Board meeting minutes of July 14, 2004 and August 24, 2004. The Plaza repair project is moving ahead although the initial cost estimate came in somewhat higher than the budget allowed. Further refinement of the scope of the project will be required before it can be placed out to bid. There will be a special meeting with the engineers, the Board and owners to review all aspects of the project before it receives final approval.

Next Meeting

The next meeting was scheduled for Thursday, October, 28, 2004 at 5:00 pm in the Community Room.


The meeting adjourned at 6:00 p.m.

Respectfully submitted,

Mike Gravitz