Minutes of the Board of Trustees Meeting

Wednesday, November 4, 2009

5:00 P.M.

Mike Gravitz called the meeting, convened in the Community Room, to order at 5:00 p.m.

Residential Trustees present and participating: Mike Gravitz, Steve Campbell, Janet Fisher, Bret Marshall.

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

Approval of Previous Minutes

The Minutes of the September 23, 2009 Board of Trustees Meeting, upon motion duly made and seconded were unanimously approved.

Finance Committee

The Financial Statements from September 30, 2009 were reviewed by the Manager. The Association reported an unaudited operating surplus of $38,489 Year-to-Date as of September 30, 2009. The Common Reserve Fund has an unaudited balance of $395,497 and the Residential Reserve Fund has an unaudited balance of $523,742 as of September 30, 2009. The Board also reviewed the delinquency report.

Building Improvement Committee

The Building Improvement Committee reported that the domestic hot water pump project is underway and the the new Entraguard system has been installed in the north tower and will shortly be completed in the south tower. The committee is continuing its evaluation of the best way to proceed with replacing or dealing with the water supply lines that have been installed in Units, one of which recently failed causing much damage. It was reported that the hot water boiler is being repaired and should be back in service within a day or two.

Change in Rules and Procedures

Following the recent forum with owners regarding the Rules governing the staff, the Board proposes that the following sentence be added to to Rule Y. Assistance for Health and Physical Needs: "However, our Security Guards are on duty 24 hours each day and are equipped with first aid supplies and are fully trained in CPR and will administer such as deemed appropriate." It was also proposed that the existing provision prohibiting moonlighting by the staff at American Towers should be eliminated. Upon motion duly made and seconded, the above proposed changes to the Rules was unanimously approved by the Residential Trustees.

Review of Rules for Owners and Procedures The Board reviewed and approved a letter to be sent to all Landlord owners which reviews some of the Rules governing renting of condos, specifically the six month lease requirement, and which also recommends use of the American Towers Lease Agreement. THe Board approved the letter and recommended that it be sent to all owners.

Lobby Refurbishment The Board presented and reviewed the latest proposal for redecorating and refurbishing the South Lobby and the second floor lobbies and hallway. The designer presenting the proposal was Chase Associates. The cost of the proposal is $225,000. It was stated that upon completion of this phase of the refurbishment, that the next phase to be completed shortly thereafter would be the Community Room, the Library, the Billiards Room and the North Lobby. Upon motion duly made and seconded, the Residential Trustees unanimously approved the contract with Chase Associates to begin the first phase of the remodelling as soon as possible.

Next Meeting Schedule

The next meeting was scheduled for Tuesday, December 8, 2010 at 5:00 p.m.


The meeting adjourned at 6:00 p.m.

Respectfully submitted,

Steve Campbell