BOARD MEMBERS PRESENT:                  President                      Nancy Spero    

Vice President              Morton Beebe

Treasurer                      Barbara Charlton

                                                Secretary                      Marilyn Nichols

                                                Director                        Barry Shiller

CITISCAPE PROPERTY MANAGEMENT:    Sr. Property Manager    Chris Corey

1.         CALL MEETING TO ORDER & ESTABLISH A QUORUM

President Nancy Spero called the meeting to order at 9:00 PM and noted that there was a quorum present.

2.         APPROVAL OF MINUTES OF PREVIOUS MEETING

The minutes of the September 20, 2005 Board of Directors meeting were approved unanimously.

           
3.         TREASURER’S REPORT

Deputy Treasurer Barbara Charlton reported that current operating expenses were fine.

4.         OLD BUSINESS

Nancy thanked Il Fornaio for hosting Telegraph Landing’s Fall Party on October 4.

Property Manager Chris Corey checked with the association’s insurance agent to verify proof of insurance of CitiScape staff, board staff, and board of directors. The agent did not recommend increasing workers’ compensation  Barbara moved to not renew the workers’ compensation policy before the board. Barry seconded and the motion passed unanimously

Barbara expressed pride and pleasure that this board stepped forward and took responsibility for seeing the special assessments through.

5.                  NEW BUSINESS

Next board of directors meeting on October 26 will discuss and likely approve the 2006 pro-forma operating budget. The budget may be mailed to membership by Nov 15 (the CC&R deadline) but must be sent by the state deadline of Nov 30. One issue will be cost of utilities cost, expected to increase.

Mort Beebe said that he would discuss with Comcast improved cable service, DSL and HDTV, which may be available at an even lower cost.

6.         MEMBER CONCERNS

            A member expressed thanks to the board for all their hard work.

7.         SET DATE OF NEXT MEETING & ADJOURNMENT

The next two meetings of the Board of Directors are scheduled for Wednesday, October 26, and Wednesday, November 16, 2005. There being no further business to come before the Board, the meeting adjourned at 9:15 p.m.

APPROVED BY THE BOARD:

_____________________________       ___________________________

Board Secretary                                                                       Date Approved