BOARD OF DIRECTORS MEETING
Monday November 9, 2026 7:30pm
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 the Unit Owners To Review Proposed Amendment to Rules and Regulations
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.
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 October 12, 2026, as submitted by General 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 October 12, 2026.”
Attached to the report for Board member review is the updated 22.1 disclosure through September 2026 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 September 2026.”
Attached to the report for Board review is copy of the notice mailed to owners the week of October 14th, including a proposed amendment to the Rules and Regulations. Following the Special Meeting held this evening, the Board may choose to either adopt the amendments as is or make changes and have a notice mailed to Owner for a follow up Special Meeting to consider those edits.
An appropriate motion can be discussed, but to simply adopt the amendments, a sample motion: “I move the Board of Directors approves adoption of the proposed amendments to the Rules and Regulations as discussed at the Special Meeting of The Unit Owners held on November 9, 2026, and directs they be integrated into the Rules and Regulations Handbook as proposed in the notice mailed to owners for that purpose.”
Attached to the report for Board review is a survey related to potential use of the “market space”, mall Unit 14c. The Ad Hoc Commission considering potential uses for the space, as charged by the Board, recommends the survey be distributed to Owners and residents, to help the commission in their efforts. It is proposed this be door dropped to all units and mailed to off-site Owners.
The Board should review the survey and provide direction. It could be distributed as is, edited, or sent back to the Commission for further consideration.
A sample motion: “I move the Board of Directors of the Park Tower Condo Association approves distribution of the ‘Market Space Survey’ to Unit Owners and residents, as proposed by the Ad Hoc Commission considering potential use of mall space 14c.”
Attached to the report for Board review is a proposed short-term lease for unit 14c (the market space) with Lettuce Entertain You. They’ve requested using the space for approximately 4-6 weeks to design a small retail store using cardboard mockups. As proposed, they would pay a total rent of $6000 and pay half now and half in December.
The proposed language is currently being reviewed by legal counsel for both parties, and that process is still in progress. The attached document is the ‘mark up’ version so members can see the evolution and edits. If there are more changes, we will provide an update in time for the meeting.
The Board should formally approve the contract ultimately agreed upon.
A sample motion follows: “I move the Board of Directors approves a short-term lease with Lettuce Entertain You for use of mall unit 14c, (aka the ‘market space’) for up to 6 weeks, for $6000.”
The Rules and Regulations Commission recommends the appointment of Unit Owner Betty Terry-Lundy. This should be formally approved by the Board.
A sample motion: “I move the Board of Directors of the Park Tower Condo Association approves the appointment of Unit Owner Betty Terry-Lundy (Unit 4306-4406) to the Rules and Regulations Commission.”
The purpose of this action item is for discussion of the PTCondo upgraded demo website which has been under construction. Board Members have received updates including a link to the demo site for their review, consideration and edits. Most edits and suggestions have been incorporated.
Any direction or motions that need to be considered can be discussed at the meeting.
Construction requests for approval are expected but will follow this report separately.
A sample motion follows: “I move the Board of Directors approves the remodeling plans for units __________ as submitted by the unit owner, 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
Treasurer’s Report
The most recent financial reports, for the period of September 2026, are attached to the report for Board review.
Fund Balances End of September 2026
Operating assets totaled $2,052,045 and the Reserve cash and investments were $5,863,440 for a total of cash and investments of $7,915,485.
September 2026 Revenue and Expenses
Total Operating Revenue: $744,509
Total Operating Expenses: $496,231
Income (Loss) From Garage: $32,083
Contribution To Reserve: $188,258
Total Surplus/(Deficit): $92,104
Management Report
ADJOURNMENT
There being no further business, the Board will consider adjourning the meeting. A sample motion: “I move the Board of Directors adjourns the November 9, 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 Board Meetings are scheduled for review of the proposed 2027/2028 Operating Budget, Saturday November 14th and 21st, at 9am, and Monday November 23rd at 6pm. The next regularly scheduled Board Meeting is expected to be held on Monday December 14th at 7:30pm. All such meetings are expected to be held in the 2nd Floor Party Room unless otherwise posted.
