MAY 18, 2006

The following directors were present: Ron Cooper, James Call, Ed Enders and Mike Zimmerman.

A quorum was established and the President, Mike Zimmerman, called the meeting to order at the hour of 6:06 p.m.

The minutes of April 17th, 2006 Board of Directors meeting were reviewed. Corrections made to the name Joe Fisher, changed to James Call. Ed Enders moved to approve the minutes with the corrections. Ron Cooper 2^nd the motion. The motion was approved.

The April 2006 receivable report, financial reports and the reserve analysis were reviewed. Ron Cooper moved to approve the reports. Ed Enders 2^nd the motion. The motion was approved.

A brief discussion regarding elevator maintenance was held. The Board would like to have a representative come to the next Board meeting and discuss options of upgrading the system.

The Board would like to reseal the parking lot this year. Ron Cooper moved to have this done by the same contractor who performed the work last time. Ed Enders 2^nd the motion. The motion was approved.

The topic of leasing two storage spaces in the NW corner, currently occupied by Cooper Leasing, was held. Ron Cooper proposed to the Board of leasing this space and if the unit were sold, this lease would be transferable. Ed Enders moved to grant a 30-year lease for $500.00 (five hundred dollars) and the lease will be transferable to subsequent owners. James Call 2^nd the motion. The motion was approved.

The Board reviewed a request from homeowner Lisa Melton. Lisa asked the Board of the possibility of moving her current parking space to the previous storage site for the dumpsters. The Board declined her request because the area in question is too small for allocating parking space.

The Board has some concerns to keep the fire hoses or to remove them. The Board would like to ask Ross Flosburg of Fire Services for his opinion on this matter. This item was table till the next meeting. If the hoses need to be replaced, Ron Cooper moved to replace the hoses. Ed Enders 2^nd the motion. The motion was approved.

The current storage space leased to Mark Leaf #603 was open for discussion. The Board would like to increase the monthly rent of this space. James Call moved to charge 80% of the going rate for comparable size (434 sq. ft. heated/elec.) and amenities of the storage area. The following provisions were also added: 1. No sub-leasing without Boards approval, 2. No sub-leasing to non-resident without Boards approval. 30-day notice will be sent to the current lessee if increase and provisions. Ed Enders 2^nd the motion. The motion was approved.

The Board approved several work orders: 1. Window washing. 2. Garage room doors painted. 3. Security mirror installed in lobby. 4. Vanity mirror hung in the elevator lobby. 4. Carpet cleaning on floors 2-7. And 5. New carpet runners for lobby.

The next Board of Directors meeting will be held Thursday, July 13^th, 2006. The time and location of the meeting is 6:00 p.m., in the 1113 W. Fireweed Lane. 2^nd floor conference room.

Being no further business to come before the Board to discuss, the meeting was adjourned at the hour of 8:13 p.m.