AMERICAN TOWERS OWNERS ASSOCIATION
Minutes of the Board of Trustees Meeting
Wednesday, January 25, 2006
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, John Patton, and Mike Gravitz.
Commercial Trustees present and participating: Larry Shelton, Donna Boes and Taymour Semnani.
Excused: Sandra Lee Sterns
Approval of Previous Minutes
The Minutes of the November 2, 2005 Board of Trustees Meeting, upon motion duly made and seconded
were unanimously approved.
Finance Committee
The Financial Statements for December 31, 2005 were reviewed by the Manager. The Association reported
an unaudited operating surplus of $37,004 Year-to-Date as of December 31, 2005. The Common Reserve Fund
has an unaudited balance of $222,126 and the Residential Reserve Fund has an unaudited balance of
$262,657 as of December 31, 2005. The Board also reviewed the delinquency report.
The Finance committee met on January 18 and reviewed and recommended approval on a number of items.
The committee reviewed proposed updated data for a renewed reserve study for both of the reserve funds.
This data will be submitted for us to receive draft report for review before a final report is prepared.
The committee also reviewed a chiller maintenance agreement from the manufacturer of the chillers, Carrier
Corporation. The agreement has a term of five years and a cost of
$7,076 per year. The committee reviewed a comparative analysis of pay as you go maintenance of the chillers
vs. the proposed maintenance agreement and the cost of the agreement was moderately less. In addition, the
agreement also provides mechanical warranty for all parts of the chiller during the term of the agreement.
Without the agreement, any mechanical failure of any part would be paid separately by the Association. The
committee recommended approval of the agreement.
The committee also reviewed a service agreement from Wasatch Electric for the new fire alarm system
which provides for testing of all devices annually, with quarterly maintenance and staff training. The
cost of this agreement is $3,803 per year and is substantially less than any prior service agreement. The
committee recommended approving this agreement to begin on May 1, 2006 which is the beginning of our fiscal
year.
The committee reviewed a draft of the proposed 2006-2007 operating budget and prepared for further analysis
of the budget in coming months prior to final approval.
Building Improvement Committee
Mike Gravitz reported that the ongoing monthly testing for Legionalla bacteria was showing good
results. Even though we still have the bacteria, it is far below dangerous levels recommended by OSHA and that
our water supply lines, pumps and storage continue to test free of the bacteria. It still remains in small
amounts in the return lines of the hot water recirculation system.
The plaza construction is behind schedule but is due to be completed by mid-February. One remaining
area to be waterproofed is the loading dock area of the north tower. It is believed that this area is
the last remaining area that may be the source of the dripping water near the north tower elevators on P1.
There is additional waterproofing to be done near the Commercial lobby entrance from the plaza which may also
require replacing the glass and doors of the lobby.
The committee also reviewed and recommended approval of the chiller maintenance service agreement from
Carrier and the fire alarm system maintenance agreement from Wasatch Electric. It was reported that nearly
all of the fire panel supervisory troubles and faults have been repaired and removed. Some additional testing
will be performed prior to the start of the maintenance agreement.
The committee also reviewed a proposal to replace and upgrade our domestic hot water pumps with a new
pumping station equipped with energy efficient variable speed motor drives. The energy savings would pay for
the new system within ten years. The committee requested that application be made to Utah Power for participation
on the energy saving equipment and that they perform the study on actual energy savings and the payback
period of the project.
Chiller Maintenance Agreement
Upon motion duly made and seconded, the Board unanimously approved the chiller maintenance agreement
with Carrier Corp.
Proposed Rules for Remodeling
The Board reviewed the proposed rules for remodeling which had been published in the newsletter for comment.
Owner Kelsey Tyson submitted some very good comments in writing and proposed some additional rules. The Board
decided to further evaluate the new proposals and to incorporate the relevant portions into the new rules
prior to final approval of the rules.
Adjournment
The meeting adjourned at 6:00 p.m.
Respectfully submitted,
Mike Gravitz
Secretary