FAIRLINGTON ARBOR

BOARD OF DIRECTORS MEETING, April 22, 2003

BOARD MEMBERS PRESENT: Pat Schoen, Tom McQuillan, Jincy Boerner

BOARD MEMBERS ABSENT: Marilyn Beck

MANAGEMENT PRESENT: David Pollard, Facilities Manager

Mike Maloney, CFM

The Board Meeting was called to order at 7:00pm.

The Minutes of the March Board Meeting were approved unanimously.

Action Item: A discussion about the dead maple tree and unsightly surroundings of a common area in Court 6 took place. It was agreed that the tree would be removed and sod would be laid.

VICE PRESIDENTS’ REPORTS:

Jincy Boerner, VP of Community Affairs, noted that the pool has been emptied and cleaned and is now filling with water.

Tom McQuillan, Treasurer, stated that the financials were in good shape. There is a Treasury Strip in the amount of $150,000 that comes due in May. The Board voted to roll over this into 2 new CD’s. We have enough money in our money market account plus assessment income coming in that we can pay for our roof replacement work out of these funds.

FACILITIES MANAGER REPORT: David Pollard stated that the soft drink machine at the pool is broken and cannot be fixed. New machines are all computerized and high tech. The Board agreed that the broken machine should be removed and that no new machine would be installed.

MANAGEMENT REPORT: Mike Maloney, CFM, reported that as of today his office had received about 27% of mailed-in proxies for the Annual Election Meeting on April 24.

NEW BUSINESS: The Board discussed the recent passing of Gus Wescott, former Board member and longtime resident of the Arbor. It was felt that a memorial tree could be planted in the patio area of the Arbor office.

The meeting was adjourned at 7:35pm.