Minutes of the Board of Trustees Meeting

Wednesday, October 15, 2008

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 Steve Campbell.

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

Trustees Excused: John Patton.

Approval of Previous Minutes

The Minutes of the September 4, 2008 Board of Trustees Meeting upon motion duly made and seconded was unanimously approved.

Finance Committee

The Financial Statements from August 31, 2008 were reviewed by the Manager. The Association reported an unaudited operating surplus of $19,741 Year-to-Date as of August 31, 2008. The Common Reserve Fund has an unaudited balance of $306,603 and the Residential Reserve Fund has an unaudited balance of $446,752 as of August 31, 2008. The Board also reviewed the delinquency report.

Approval of Annual Audit Report

The Board also reviewed the 2007-2008 fiscal year audit report and upon motion duly made and seconded unanimously accepted the audit report and requested that copies be distributed to all owners.

Increased Collection Procedures for Delinquent Condo Fees

Following review of the delinquency report, the Board noted the increase in the numbers of, and the increasing total dollar amount of delinquencies. The Board also noted that current economic conditions may also negatively affect delinquencies and requested increased collection efforts. Since the Association pays for the cable TV service from collected condo fees, the Board authorized management to disconnect the TV service to any condo in which the condo fees are more than 60 days delinquent and after a written 5 day notice and warning has been delivered.

Building Improvement Committee

Repair and replacement of the fire doors on each floor is underway. The new doors will need to be painted. Following completion, the committee together with management will re-inspect the each set of doors to ensure that they are correctly operating and performing their function.

The committee continues to address a domestic hot water problem in five risers of the north tower low rise. What orinally appeared to be a hot/cold water crossover compromising the hot water line, now appears to be a balancing problem between five supply lines all connected to the same recirculating return line. It appears the improper balancing may be precenting one or two of the supply lines from correctly circulating hot water. The committee is looking at installing and balancing some new circuit setter valves on the five risers affected.

Change of Rules - Fines for Violations

Upon motion duly made and seconded, the Residential Trustees unanimously approved the following changes to the amount fo fines to be assessed to owners for violations of the Rules:


1. No noxious or offensive activity shall be carried in or upon any part of the Project, nor shall anything be done or placed in or upon any part of the Project which is or may become a nuisance or which may cause unreasonable disturbance or annoyance to Owners generally. No activities shall be conducted, no improvements constructed, in or upon any part of the Project which are or may become unsafe or hazardous to any person or property.

2. The following fines shall be charged to Owners for any violation of the above or of any of the other Rules and Regulations herein by Owners, their guests or tenants:

First Offense - Warning
Second Offense - $100
Third and Fourth Offense - $200
Each Offense Thereafter - $500

American Plaza Parking Association Meeting Minutes

The Board reviewed the meeting minutes of the August 26, 2008 APP Board meeting.

Next Meeting Schedule

The next meeting is scheduled for January 2009.


The meeting adjourned at 6:00 p.m.

Respectfully submitted,

Steve Campbell