AMERICAN TOWERS OWNERS ASSOCIATION
Minutes of the Board of Trustees Meeting
Thursday, February 22, 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, Mike Gravitz, Sandra Lee Sterns, and John Patton
Commercial Trustees present and participating: Donna Boes, Taymour Semnani and Jonathan Arbuckle.
Approval of Previous Minutes
The Minutes of the January 25, 2007 Board of Trustees Meeting, upon motion duly made and seconded
were unanimously approved.
Finance Committee
The Financial Statements from January 31, 2007 were reviewed by the Manager. The Association reported
an unaudited operating surplus of $121,688 Year-to-Date as of January 31, 2007. The Common Reserve Fund
has an unaudited balance of $255,348 and the Residential Reserve Fund has an unaudited
balance of $298,505 as of January 31, 2006. The Board also reviewed the delinquency report.
The Finance Committee met on February 12, 2007 and reviewed the financial statements and the
projects currently under consideration by the Board. One project is our security camera equipment scheduled
for replacement last year was postponed. Some of that equipment has since failed. The committee
reviewed the proposal and asked for updated bids for replacement. The Committee recommends approval
of replacing the equipment contingent upon updated bids being in accordance with those bids previously
obtained. The Board will review the bid proposals prior to final approval.
Building Improvement Committee
The Committee continues to evaluate and analyze our boiler situation. The Committee specifically
recommends the expenditure of up to $2000 to purchase a data logging hazardous gas sensor and reader in order to more
fully analyze and understand the extent of the problem of exhaust gases entering into the
commercial fresh air intake. Upon motion made and duly seconded, the recommendation was unanimously
approved.
Review of APP Meeting Minutes
Since the Board meeting is held earlier this month, there are no APP meeting minutes to review
as the APP meeting will be held next week on February 27, 2007. It was noted that at the last
meeting, the Parking Board requested the addition of credit card readers for guest parkers to
facilitate easy exit and avoid congestion. The Parking Board is evaluating alternatives for financing
and installing the readers.
Next Meeting
The next meeting was scheduled for March 29, 2007.
Adjournment
The meeting adjourned at 6:00 p.m.
Respectfully submitted,
Mike Gravitz
Secretary