President's Message - August 2004

Norman Salisbury
President

Dear Fellow Owners:

Thank you all for your participation in our Annual Meeting with a special thanks to Carol Wheeler for the excellent social she hosted for us last Friday. A good time was had by all. At the meeting, Mike Gravitz was elected as a member of the Board of Trustees to fill the three year term being vacated by Irene Link. We also wish to thank Irene for her valuable and dedicated service for the past three years. She scarcely missed a single meeting. We also had a very important and informative presentation from Ed Lin regarding our earthquake insurance and the earthquake and disaster procedures of our Bylaws and Declaration.

As many of you know, we have been in a property rights dispute with Hamilton Partners who propose to “someday” build a high-rise office building to the north of us. Our attorney, Tom Karrenberg also gave an update on the status of the dispute, of the litigation, and of settlement negotiations in process. Inasmuch as this is an important issue involving our valuable property rights, you will be hearing more about this and will receive additional information before your Board makes any decisions to proceed with litigation or to settle the dispute.

And finally, I would like to sincerely ask a favor of all residents. Please be conscientious in following our rules and be alert to others who may have less than honorable intentions regarding the upkeep of our property and conduct towards each other. I am dismayed to mention a recent attempted theft of our property, which was recovered, but the perpetrators have not yet been identified. A previous theft of furniture has still not been recovered. Please be attentive and aware and report suspicious activity to our security staff. In addition, if the occasion arises when you may be responsible for spills or incidental damage. Please “be” responsible and let us know about it.

Thank you again for your support as we continue to upgrade and improve our facilities and community. American Towers IS the premier downtown living destination.

Sincerely,