ARCHITECTURAL CONTROL

· Committee considered 88 submissions in June approving 73 items and disapproving or deferring 15 items. Seven new homes were approved during June.

· Collected $7,460 in plan review fees in June. YTD total: $44,005.

COVENANT ENFORCEMENT

· At the end of June, 1034 properties were being pursued. 50 properties resolved and 6 referred to legal.

· Review of individual homes in Cottonwood Valley complete.

· 400 Lamar Court mediation set for July 8, 2002 and motion for summary judgment/trial set for July 11^th.

· Motion for contempt regarding 500 Byron Court scheduled for July 5, 2002.

COMMON PROPERTY

· Removed a groundcover bed with drainage problems at Island Greens and established turf.

· Hydro seeded the MacArthur Blvd. median at SH161 and several other areas throughout the development.

· Aerated turf areas at Island Greens, Brune Hill and the Urban Center.

· Installed bark mulch rings around all trees at Island Greens.

ALARM MONITORING/PATROL

· Completing updates of demographic cross-street data information and addition of Mapsco numbers on all security accounts.

· Residents are beginning to move into Grand Treviso Apartments. Data entry on accounts completed; 80% of alarms tested.

· Security received 410 account change forms and completed 18 new alarm set-ups.

COMMUNITY RELATIONS

· Continuing to meet with Urban Center canal property owners regarding infrastructure and activities on

the canal. The DCURD Board recently voted to spend $175,000 on rehabilitation in the canal area.

· There was good attendance at the June 12^th apartment managers meeting. Multifamily occupancy rates are currently averaging 92%.

· The Transit Mall Overlay District Ordinance was passed by the City Council. The Association will work with affected property owners regarding amendments to supplementary declarations.

· The June 28^th community forum with Oncor executives was successful. Oncor is seeking additional opportunities to speak with residents and businesses about electric deregulation and delivery issues.

FINANCE AND ADMINISTRATION

· Collected 70.48% ($4,152,804) of the 2002 annual assessments.

· Piloting/training for Phase I (accounting) of the new computer system software is underway. Projected to start using new program on July 5^th running parallel with the existing system.

· Completed 31 statements of accounts, 12 resale certificates and one estoppel certificate in June.

· Data base maintenance – completed 37 property ownership changes and 639 updates.

· Working on retirement plan and cafeteria plan form 5500 that is due July 31^st.