BOARD OF DIRECTORS MEETING

Management Report

Monday June 25, 2018

2nd Floor Party Room

7:30PM – OWNER FORUM – 15 minutes, 2 minutes per person

The Board and Management will address feedback and questions from Unit Owners.

OPEN SESSION – Call to Order

The meeting chair, expected to be Board President Michael Parrie, will call the meeting to order. Please be courteous – if applicable, the meeting chair may choose to entertain audience questions as may be applicable to each agenda item. All speakers shall be recognized by the chair as necessary. Please do not interrupt speakers who have the floor.

Roll Call – Confirm Quorum

The meeting chair will confirm a quorum of Board Members are present. Board Members and representatives from Management will be introduced.

Committee Reports

Committees will be invited to give updates to the Board on business and activities. Attached to the report for Board Review are reports submitted by the Cable and Internet Taskforce and the Home Improvement Committee.

Action Items – New Business

1.     Closed Session Business

This agenda item is provided for any resolutions proposed resulting from Closed Session discussion.

2.     Minutes – Board Meeting June 11, 2018

Attached to the report for Board Member review, are the proposed minutes from the Board of Directors Meeting held on Monday June 11, 2018, as submitted by Timothy Patricio, Property Manager.

A sample motion: “I move the Board of Directors approves the minutes from the Board Meeting held on Monday June 11, 2018.”

3.     Election of Board Officers

The Board will need to formally elect corporate officers for the business year, to each of the following positions: President, 1st Vice President, 2nd Vice President, Treasurer, and Secretary.

A sample motion: “I move the Board of Directors appoints _____________, as Board President, _____________, as Board 1st Vice President, _____________, as Board 2nd Vice President, _____________, as Board Treasurer, and _____________, as Board Secretary.”

4.     Appoint Commission Liaisons

The Board will need to formally appoint Liaisons for the business year, to each of the following active Commissions: Health Club, Home Improvement, New Residents, Newsletter, Rules & Regulations, Social, and the Ad-hoc Cable and Internet.

A sample motion: “I move the Board of Directors appoints _____________, as liaison to the Health Club Commission, _____________, as liaison to the Home Improvement Commission, _____________, as liaison to the New Residents Commission, _____________, as liaison to the Newsletter Commission, _____________, as liaison to the Rules & Regulations Commission, _____________, as liaison to the Social Commission, and _____________, as liaison to the Ad-hoc Cable and Internet Commission.”

The Board may also choose to direct Commission Chairs to review their charters, and confirm current memberships.

5.     2018-2019 Board Meeting Schedule

Attached to the report for Board Member review is a proposed notice to Unit Owners with a list of proposed Board Meetings and Resident Forum dates, as suggested and presented by Michael Parrie. The pattern of meeting dates continues consistent with the schedule for the previous business year, with the primary Board Meetings held on the 2nd Monday evening each month, and a secondary Board Meeting scheduled for the 4th Monday each month (with the exception of December and May due to holidays). Three Saturdays in November are included for budget review, and forums are scheduled for Wednesday August 1st, Monday October 29th, Saturday February 2nd, and Tuesday April 30th (2019).

A sample motion: “I move the Board of Directors schedules Board Meetings for the 2018/2019 Park Tower Condo Association business year, on the dates as proposed by (insert title) Michael Parrie, and directs Management to issue a formal notice via US Mail accordingly.”

6.     Health Club Committee – Appoint Member

The Health Club Committee recommended the appointment of a new member, resident Baldev Mehra, Unit 1011.

A sample motion to act on this matter: “I move the Board of Directors approves the appointment of resident Baldev Mehra, of Unit 1011, to the Health Club Commission.”

7.     Unit Owner Request – Leasing Policy Exception

Attached to the report for Board Review is a request from the Unit Owner of 2309 for a hardship exemption to the PTCA Leasing Policy. Due to the nature of the request, we expect a legal opinion to be considered by the Board in Closed Session.

At present, the rental percentage is just above 31%.

A sample motion: “I move the Board of Directors (approves/denies) a hardship exception to the Park Tower Condominium Association leasing policy (under the following terms)________________.”

8.     Pool Enclosure Door Rehab

As requested by the Health Club Committee and our staff, the Budget was funded to repair door frames and screen doors in the pool area. We estimated funding for 7 doors at about $5000/door. Four of the doors are trafficked by members and we believe at least 2 of those are the source of some leaking including in the bike room below these locations.  One of those is severely damaged and presently is closed with caution tape, after coming off the track and falling down. Some of these 7 are used from time to time to create a cross wind breeze to cool the facility down when needed. A total of $35,000 was budgeted.

However, as we’ve considered this work more closely, much more needs to be done. There are 28 doors all together. The 7 were identified as necessary to be rebuilt. The other 21 are in need of work too – if not to make them operational, to deconstruct them and seal them so they are not the source of drafts or leaking. It is possible these frames and tracks could be the source of pesky leaking as well (particularly into the bike room and offices below), which we’ve not been able to successfully isolate. Our team theorizes the doors, frames and tracks are a very likely target.

Attached to the report for Board review are bids for removing and rebuilding the 7 doors and frames, and replacing the sealants of the remaining openings and sealing up all the other door assemblies.

Hyland Nolan                  $119,735

JLJ Contracting                $114,995

Quality Restoration        $121,500

The proposed expense far exceeds budget. And we suggest a provision of 10% be allowed for unknown conditions. JLJ is an acceptable candidate as the low bidder, so that would be $126,500, well over budget. However, this is an immediate need. In some respects for safety reasons (i.e. the door coming off the track and falling down) and others to address basic maintenance issues such as leaking below.

We are fortunate to have an excess of operating cash at this time. The audit shows the Association ran a surplus of $155,272 last year. And over the past decade we have accumulated a modest Operating Contingency, that could help with this unexpected expense. We suggest the Board authorize a one time additional reserve contribution from the Operating fund for the difference between the anticipated budget and the quoted expense. Should you choose the low bidder, JLJ, that difference would be $91,500.

A sample motion: “I move the Board of Directors approves the Pool Enclosure Door Rehab project, as proposed by JLJ Contracting at a cost not to exceed $126,500, including the replacement of 7 of the enclosure door assemblies, and the sealing of the remaining 21, and due to the unanticipated additional expense from budget, and in keeping with the Boards duty to maintain reasonable reserves for capital expenditures, the Board hereby approves a supplemental contribution of Operating Funds in the amount of $91,500 to be transferred to the Reserve Fund to finance the difference.”

9.     Landscaping – Tree Replacement

Our landscaping team from Brightview presented two suggestions for replacement of the tree in the Circle Drive Planter. First, a smaller 10-12 foot tall, 10 year old tree for about $1600, and second a larger 15-16 foot tall, 15 year old tree for about $2600.

Either would be ok for the space. Brightview suggested the younger tree will transplant and acclimate better, while the bigger tree will look less awkward next to it’s neighbor which is about 30 feet tall. However, both will take time to adjust to the light and space and they estimate that would happen over the course of about 10 years. Attached to the report for Board review are the bids, along with some e-mail Q&A between our Brightview rep and myself.

Originally we felt replacement could wait until next year, but with these trees presently available and since it takes so long for them to fill in, we believe it is worth the Board considering.

A sample motion: “I move the Board of Directors approves replacement of the Honeylocust Tree in the Circle Driveway planter at a cost not to exceed $_______.”

ADJOURNMENT

There being no further business, the Board will consider adjourning the meeting.

A sample motion: “I move the Board of Directors adjourns the June 25, 2018 Board Meeting at _ _ PM.”

OWNER FORUM – 15 minutes, 2 minutes per person

The Board and Management will address feedback and questions from Unit Owners.

Next Meeting Dates TBA