President's Message - June 2003

Norman Salisbury
President

Dear Fellow American Towers Owners:

We had excellent attendance at our air conditioning forum. I want to personally thank all who attended for your contribution and participation. Your Board is always appreciative of your input and counsel, especially in these important matters.

We are now at a point where the studies of our system are complete. Pacificorp has completed an energy study of the system and has offered significant incentives. While we are disappointed the process has taken a long time, we are confident we have been thorough and the alternatives available to us have been fully explored. We were hopeful last year that we could have an improved system for this coming summer, but in retrospect, it was impossible to study, engineer and construct a system to address our needs in that short of a time.

We have looked at everything from simply replacing two cooling tower pumps to purchasing some additional land in the parking lot to our north to house a new mechanical plant building. Last October, your Board went so far as to authorize the appropriate $20,000 to purchase and install new condenser pumps for the cooling tower, but upon further investigation, it rapidly became apparent that was a simplistic reaction to our real problems a worn out cooling tower incompatible with our aging chillers.

Having presented the situation to the owners at our meeting, we are at the point where your Board is prepared to approve and enact our plan to replace our cooling tower and chillers with a new energy efficient integrated system that will supply all of our condos with ample chilled water.

The total project is just under one million dollars and will result in an increase in the Common Reserve Assessment for several years. There will be an option, for those who choose, to pay the increase in a lump sum and keep the monthly fees at their current levels. The installation will begin shortly and the changeover will take place next winter.

As I said above, we are now prepared to move ahead with this major project. We are disappointed that the coming summer may get quite uncomfortable as was last but we are prepared to do what is necessary to get the most out of our existing system. Again, we sincerely appreciate your input and cooperation.

Sincerely,