AMERICAN TOWERS OWNERS ASSOCIATION
Minutes of the Meeting of the Members
Saturday, August 12, 2006
10:00 A.M.
Norman J. Salisbury, President called the meeting to order.
Residential Trustees present and participating: Norman J. Salisbury, John Patton, Sandra Lee Sterns and Mike Gravitz
Commercial Trustees were excused. The commercial owner was present by proxy
as his ballot had been received prior to the meeting.
Quorum Requirement: It was determined that over 500 votes had been cast and therefore a Quorum
was established.
Presentation of Candidates: Each of the candidates for the Board of
Trustees gave their own presentation of the issues facing American Towers. Counting of Ballots: Voting was declared closed. Ballots were collected and turned over to
the auditor to be counted.
Election Results: Sandra Sterns announced the following election
results as tabulated and compiled by Gary Miyasaki of Bushman Associates:
Norman J. Salisbury and John Patton were declared elected as Residential Trustees and
Larry Shelton
was declared elected as a Commercial Trustee.
Building Committee: Mike Gravitz gave a brief summary of the recent
Redevelopment Agency Meeting in which Hamiton Partners submitted an application
for a grant of funds to facilitate development of a 23 story office building to
the north of American Towers. American Towers Board of Trustees also had
submitted a letter and information to the RDA prior to the meeting outlining
remaining issues related to the proposed parking garage and usage of the
American Towers alley.
Finance Committee: John Patton reviewed some of the recent activities
of the Finance Committee including the new Reserve Studies, Insurance renewal,
and the audit report.
Adjournment: The meeting adjourned at 12:00 p.m.
Respectfully submitted by Mike Gravitz
Norman J. Salisbury
298.15
John Patton
326.63
Hassan Sherkat
149.20
Herman Reedeker
177.18
No Vote
2.49
Larry Shelton (Commercial)
88.96