2nd Floor Party Room
Agenda & Report
6:30PM – CLOSED SESSION
The Board is scheduled to meet to discuss rule violations, pending litigation, Unit Owner account issues and personnel matters.
7:30PM – SPECIAL MEETING OF UNIT OWNERS TO REVIEW PROPOSED 2026/2027 OPERATING BUDGET
To review and download the Special Meeting Agenda, Click Here.
ADJOURNMENT OF SPECIAL MEETING
Owner Forum
The Board of Directors and management will welcome and address feedback and questions from Unit Owners.
OPEN SESSION CALL TO ORDER – Confirm Quorum
The meeting chair, expected to be Board President Michael Parrie, will call the meeting to order and confirm a quorum of Board Members is present. Board Members and representatives from Management will be introduced.
Commission Reports
The meeting chair will invite commission representatives for any news, updates and reports. Attached to the report for Board review are the most recent reports from the Home Improvement Commission and Social Commission.
Board Report
The meeting chair may give a report on current Association business and activities of interest.
Action Items
This agenda item is provided for any resolutions proposed resulting from Closed Session discussion.
Attached to the meeting report for Board Member review are the proposed minutes for the Board of Directors Meeting held on Monday December 8, 2025, as submitted by Community Manager Tim Patricio, for Board consideration.
A sample motion: “I move the Board of Directors of the Park Tower Condo Association hereby approves the minutes from the Board Meeting held on Monday December 8, 2025.”
Attached to the report for Board Member review is the updated 22.1 disclosure through November 2025 for formal Board approval. The 22.1 Disclosure, is a standard document we provide upon request in the event of any sale and make available for inspection to the prospective purchaser. This incorporates:
As a matter of routine, we continue to update this regularly and will present it periodically for Board review and formal approval.
A sample motion: “I move the Board of Directors of the Park Tower Condo Association approves the 22.1 disclosure as drafted with the best available information through November 2025.”
Attached to the report for Board reference is the Special Meeting Notice to Unit Owners and the Proposed 2026/2027 Operating Budget Summary. Following the Special Meeting of the Unit Owners for the purpose of review and consideration of the proposed budget, the Board may consider formally accepting and adopting it.
A sample motion follows: “I move the Board of Directors adopts the budget as proposed and presented to Unit Owners for the fiscal year starting March 1, 2026 and ending February 28, 2027, with a 4.4% increase in assessments, a 3.78% increase in total anticipated operating expenses, a projected reserve contribution of $2,259,100, and planned reserve projects totaling $1,910,700.”
The purpose of this action item is for potential consideration of fees for:
Motions can be proposed at the meeting as may be necessary to establish whatever policy may be made and any associated fees. The fee schedule with the Rules & Regulations will be updated accordingly.
Acting Chair of the taskforce, Phoebe Helm, has asked for guidance from the Board, related to desired uses of and possible changes to the space. She reported, “I want to give the task force anything that should be considered hard and fast parameters before entertaining ideas, desires, preferences from the group.”
“Are there physical attributes we would not be willing to change? The front onto the hallway for example.”
“Are there tenants (functions) we would not want?”
“Are we concerned about the level of outside foot traffic that the business might attract?”
“Are we concerned about the hours the business might be open?”
“Any other parameters that should be kept in mind?”
Attached for Board Member review are the remodeling packets for the following Unit Owner projects:
3204 – Kitchen Remodel & Hard Flooring
4301 – Unit Remodel & Electrical Panel
4607 – Kitchen/Bath Remodel; New Carpet
4901/03 – Window Film
A sample motion follows: “I move the Board of Directors approves the remodeling plans for units 3204, 4301, 4607, and 4901/03, as submitted by the unit owners, following the recommendations of the chief engineer as outlined in their written specifications and in accordance with the Rules and Regulations and remodeling guidelines of the Park Tower Condo Association.”
Business Reports
The most recent financial reports, for the period November 2025, are attached to the report for Board review.
Fund Balances End of November 2025
Operating assets totaled $2,062,388 and the Reserve cash and investments were $5,369,740 for a total of cash and investments of $7,432,128.
November 2025 Revenue and Expenses
Total Operating Revenue: $657,334
Total Operating Expenses: $471,792
Income (Loss) From Garage: $41,409
Contribution To Reserve: $176,058
Total Surplus/(Deficit): $50,893
2. Management Report
Attached to the report for Board review are the updated Monthly Activity Report and Sales and Lease Reports.
There being no further business, the Board will consider adjourning the meeting.
A sample motion: “I move the Board of Directors adjourns the January 12, 2026, Board Meeting at ____PM.”
OWNER FORUM
The Board of Directors and Management will welcome and address feedback and questions from Unit Owners.
The next regular Board Meetings are expected for Monday January 26th and February 9th, at 7:30pm. A Resident Forum is scheduled Saturday January 24th at 11am. All such meetings are held in the 2nd Floor Party Room unless otherwise posted.
