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Nauru Tower Association NewsMessage from the PresidentOctober 2000 Nauru Tower will always have a Residential Manager living on property, which is an advantage to the association. The future availability and cost of a rental unit are uncertain. There may be a situation in the future when a rental unit may not be available or the cost to rent may increase dramatically. Although we have no plans currently to purchase any unit, it seems prudent to prepare for the future by allowing the association to purchase a unit deemed economically advantageous. The intent of this request to change the by-laws is to control future cost to the association by possibly purchasing a unit, which will be owned by the association. This will be done without any special assessment or increase in monthly cost to the association. In the long term, it would save the association money due to monthly rental expenses would go towards mortgage payments with eventual clear ownership to the association. We have sent out proxies to all owners to vote on this timely issue. We urge you to vote "Yes" so the association can have the future ability to purchase a unit for the best interest of the association. Currently the majority has voted "Yes" although we need 75% to approve the by-law changes. Proxy votes may be obtained from the Managers office. Again, we thank you for your cooperation throughout the past year resulting in Nauru Tower receiving the 1st Annual Condominium of the Year Award leading the way in community managed properties.
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