IMPORTANT NOTE: The “Post Meeting Round Up” is neither official meeting minutes, nor are they intended as a replacement of actual meeting minutes for Board Meetings.  The minutes of any given meeting are typically not available until after they are reviewed and approved by the Board, which usually occurs at the next scheduled meeting.  Rather, the round up is a review of the activity and business considered at the meeting as observed by management, provided as a courtesy and convenience to Owners.

PARK TOWER CONDOMINIUM ASSOCIATION

BOARD OF DIRECTORS MEETING

Monday February 23, 2015 at 7:30PM

Party Room 2nd Floor

6:30PM – CLOSED SESSION

The Board held discussion of possible or pending litigation, personnel matters, and/or violations of rules and regulations. (Condominium Act – Sec. 18, a. 9)

7:30PM – OWNER FORUM

Members of the Board and Management answered questions and addressed matters raised by Unit Owners.

7:47PM – OPEN SESSION

The Board President, George Pauley, officially called the meeting to order at 7:47pm and confirmed a quorum of members was present. All Board Members were present; Tom Wartowski, 2nd Vice President; Betty Terry-Lundy, Secretary; Michael Parrie, 1st Vice President; George Pauley, President; and David Nicosia, Treasurer.  Also present, from Management, Timothy Patricio, Property Manager.

Committee Reports

NEWS AND SOCIAL MEDIA – Chair Bob Shamo discussed the upcoming issue of Tower Talk and the new timing of this and future issues.

HEALTH CLUB – Chair Ken Anderson shared that the Committee is working on plans to present to the Board for overhauling the health club and locker rooms.

Board Report: George Pauley

Board President George Pauley acknowledgement the departure of long time Assistant Manager Mavis Mather, and thanked her for her 11 years of service to the Association.

Action Items – New Business

After a motion by Betty Terry-Lundy, seconded by Dave Nicosia, and discussion, the Board voted unanimously to add a construction request by Unit 4606 and a payment plan authorization on past due accounts for management to the agenda.

Motions from Closed Session

After a motion by Michael Parrie, seconded by Dave Nicosia, the Board of Directors voted unanimously to accept the recommendation of the Rules Committee to assess a fine of $200 against 11 Unit Owners who had not yet provided proof of operable smoke detectors in their unit.

After a motion by Michael Parrie, seconded by Dave Nicosia, the Board of Directors voted unanimously to accept the recommendation of the Rules Committee to assess a fine of $100 against Unit Owners who had not yet provided proof of current insurance to the Association.

After a motion by Michael Parrie, seconded by George Pauley, the Board of Directors voted unanimously to accept the recommendation of the Rules Committee to assess a fine of $200 against Unit Owners who had not yet provided proof of insurance to the Association after 2 months.

After a motion by Michael Parrie, seconded by George Pauley, the Board of Directors voted unanimously to accept the recommendation of the Rules Committee to assess a fine of $400 against Unit Owners who had not yet provided proof of insurance to the Association after 3 months.

After a motion by Michael Parrie, seconded by George Pauley, the Board of Directors voted unanimously to accept the recommendation of the Rules Committee to assess a fine of $100 against a Unit Owner who’s renter was found responsible for misconduct in a common area of the building.

After a motion by Michael Parrie, seconded by George Pauley, the Board of Directors voted unanimously to authorize management to spend up to $2500 on security equipment.

Minutes – Unit Owner Rules and Regulations Meeting January 26, 2015

After a motion by Betty Terry-Lundy, seconded by Dave Nicosia, the Board voted unanimously to approve the minutes from the Unit Owner Rules and Regulations Meeting held on January 26, 2015.

Minutes – Unit Owner Budget Meeting January 26, 2015

After a motion by Betty Terry-Lundy, seconded by Dave Nicosia, the Board voted unanimously to approve the minutes from the Unit Owner Budget Meeting held on January 26, 2015.

Minutes – Board Meeting January 26, 2015

After a motion by Betty Terry-Lundy, seconded by Dave Nicosia, the Board voted unanimously to approve the minutes from the Board Meeting held on January 26, 2015.

2015/16 Property Insurance

After a motion by Betty Terry-Lundy, seconded by Dave Nicosia and discussion, the Board of Directors unanimously passed a resolution approving the renewal of the commercial insurance package and workman’s compensation insurance policies as proposed by Mesirow Financial with carriers Affiliated FM and Attain, as proposed, in the amount of $ 195,283.

Rules and Regulations Committee Charter

After a motion by Michael Parrie, seconded by George Paulie and discussion, the Board of Directors passed a resolution approving the proposed Commission Charter presented by the Rules and Regulations Committee as amended in discussion. George Pauley, Michael Parrie and Dave Nicosia voted in favor of the motion. Betty Terry-Lundy and Tom Wartowski voted against the motion.

Construction Requests

After a motion by Michael Parrie, seconded by Dave Nicosia, the Board of Directors unanimously passed a resolution approving the alteration of common elements proposed by Lettuce Entertain You for the installation of security cameras and a cell phone booster as proposed, and the remodeling plans of units 3202, 5311 and 4606 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. George Pauley, Michael Parrie and Dave Nicosia voted in favor of the motion. Betty Terry-Lundy and Tom Wartowski abstained from the measure.

Collections Referendum

After a motion by Michael Parrie, seconded by Dave Nicosia, and discussion, the Board unanimously passed a resolution authorizing management to enter into payment plans up to 2 years to pay past due fines.

After a point of clarification by the Property Manager, the Board reconsidered the motion.

After a motion by Michael Parrie, seconded by Dave Nicosia, the Board unanimously passed a referendum authorizing management to enter into payment plans up to 2 years to pay past due fines, accounts and fees.

Reports:

Treasurer’s Report

Board Treasurer Dave Nicosia reviewed the fund balances at the end of December 2014.

Operating Account Balance = $404,300.07

(Increase of $184,865.67 from November.)

Reserve Account Balance = $1,674,571.98

(Decrease of $13,490.07 from November.)

Total Cash and Investments = $2,114,872.05

Management Report

Property Manager Timothy Patricio reviewed current activities and projects in the building and highlights from the Monthly Activity Report and Sales and Leasing Report.

ADJOURNMENT

There being no further business, the Board unanimously passed a resolution adjourning the meeting at 8:32pm.

OWNER FORUM

Members of the Board and Management answered questions and addressed matters raised by Unit Owners.