The PTCA Board Of Directors Has Approved The 2025/2026 Operating Budget For The Association

Following a Special Meeting Of The PTCA Unit Owners held on Monday January 13th to review the proposed budget, the Board met at their regular meeting and formally adopted it for the Association’s 2025/2026 fiscal year.

To review the Roundup Report for the meetings on Monday night, Click Here.

The key changes include a 3.8% increase in assessments as of March 1, 2025, a 3.88% increase in total anticipated operating expenses, a projected reserve contribution of $2,112,700, and planned reserve projects totaling $1,303,200.

As to the assessment increase this means an average monthly increase of $20.30 for Studios, $28.31 for One Bedrooms and $45.64 for Two Bedrooms. Keep in mind it will be lower on lower floors and higher on higher floors, as it is based on percentage of ownership in the Declaration.

There are also increases effective March 1st for monthly parking fees and other ancillary business charges:

Guest Parking
Increase $1 (from $10 to $11) – Book of 5 coupons would increase from $50 to $55
Valet Parking
Increase $5 (from $160 to $165)
Self-Parking
Increase $5 (from $160 to $165)
Premium Parking
Increase $5 (from $175 to $180)
Tandem Parking
Increase $2.50 per vehicle (or $5 for the one spot, from $260 to $265)
Commercial Day Parking
Increase $7 (from $208 to $215)
Hourly Parking
Increase $1 per bracket (i.e., 1 hr = from $14 to $15, 1-3 hrs = from $16 to $17, etc.)

Health Club Memberships Increase About 5%

Single 1-month From $43 to $45
Single 6-month From $226 to $237
Single 1-year From $318 to $334
Double 1-month From $64 to $67
Double 6-month From $353 to $371
Double 1-year From $573 to $602
Family 1-month From $90 to $94
Family 6-month From $509 to $534
Family 1-year From $798 to $838

Bike Room Annual Fee
Lower Rack Increase $15 (from $60 to $75)
Upper Rack and Wall Hangers Increase $2 (from $48 to $50)
Winter Rate Increase $5 (from $30 to $35)

ASTOUND Bulk Cable/Internet
Increase $3.76 (from $59.15 to $62.91)

Board President Michael Parrie gave a presentation about the budget and moderated questions and discussion that followed. This included a review of expected maintenance and improvement projects anticipated over the next year, and some more long term larger projects expected down the road.

To review and download a PDF of the presentation, Click Here.

To review and download a copy of the approved budget, Click Here.

If you have any questions, e-mail our office at parktowercondo-mgmt@habitat.com.