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

May 11, 2015

6:30PM – Closed Session
The Board held discussion of possible or pending litigation, personnel matters, and/or violations of rules and regulations.

7:30PM – Owner Forum

Board Members and Management addressed questions and feedback from Owners present at the meeting.

7:41PM – Open Session

The Board President called the meeting to order and confirmed all Board Members were present: George Pauley, Board President; Betty Terry-Lundy, Secretary; Tom Wartowski, 2nd Vice President; Michael Parrie, 1st Vice President; David Nicosia, Treasurer. Also present from Management: David Barnhart, DK Condo Property Supervisor; Timothy Patricio, Property Manager; Amir Cobalovic, Assistant Property Manager.

No Committee Reports or Board Report were made.

After a motion by Betty Terry-Lundy, seconded by Tom Wartowski, the Board unanimously passed a resolution adding consideration of Yoga Classes in the Party Room to the agenda.

Action Items – New Business

Motions from Closed Session

After a motion by Michael Parrie, seconded by George Pauley, the Board unanimously passed a resolution fining a Unit Owner $200 plus the cost of repairs for paint cans dumped down the garbage chute.

After a motion by Michael Parrie, seconded by Dave Nicosia, the Board unanimously passed a resolution waiving late fees on a Unit Owner’s account.

After a motion by Michael Parrie, seconded by Dave Nicosia, the Board unanimously passed a resolution waiving two fines on a Unit Owner’s account.

After a motion by Michael Parrie, seconded by George Pauley, the Board unanimously passed a resolution giving owners with lingering account balances, who were previously sent notice, 30 days to make payment in full after which collections efforts will begin including revoking privileges such as parking licenses and health club memberships.

After a motion by Michael Parrie, seconded by George Pauley, the Board unanimously passed a resolution to make an offer to accept a payment arrangement of $50/month from a unit owner with a lingering balance.

After a motion by Michael Parrie, seconded by George Pauley, the Board unanimously passed a resolution fining 15 unit owners $100 for not providing proof of insurance, to double each month until proof is provided with a maximum of $1000 per month.

Minutes – Board Meeting April 13, 2015 – After a motion by Betty Terry-Lundy, seconded by Dave Nicosia, the Board unanimously passed a resolution approving the minutes from the Board Meeting held on April 13, 2015.

Ad-hoc Commission to Review Declaration & Bylaws – After a motion by Dave Nicosia seconded by Tom Wartowski, the Board unanimously passed a resolution forming the Ad-hoc Commission to Review the Declaration and Bylaws, and the Charter for said Commission presented by Management, and further made a call for volunteer unit owners for consideration of appointment to the Commission.

Light Replacement Along South Exposure – After a motion by Dave Nicosia, seconded by George Pauley, the Board unanimously passed a resolution approving the replacement of the 9 light fixtures along the south masonry wall as proposed by management, at the quoted cost of $7247.06 with the use of the BEGA 6455 LED fixture, and ratifying management’s decision to order the 9 fixtures for replacement along this wall and directing management to make any necessary future replacements using this fixture.

Emergency Masonry Repairs – After a motion by Dave Nicosia, seconded by Tom Wartowski, the Board unanimously approved a resolution approving management’s action to perform emergency masonry repairs as proposed by JLJ Contracting for $7350.

Construction Request – After a motion by Michael Parrie, seconded by Dave Nicosia, the Board unanimously approved the remodeling plans of unit 1105 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.

Yoga Classes – A formal resolution was not considered, however it was discussed and understood management had formalized arrangements to continue Yoga Classes in the Party Room.

Reports:

Treasurer’s Report: Board Treasurer David Nicosia reported on the Association’s bank balances at the end of March 2015.

Operating Account Balance = $542,839

Reserve Account Balance = $1,671,323

Total Cash and Investments = $2,107,660

Management Report: Property manager Tim Patricio discussed current building projects and activity including updates on exterior work, and reported on business activity and sales and leasing in March.

ADJOURNMENT

There being not further business, after a motion by Dave Nicosia, seconded by George Pauley, the Board unanimously passed a resolution adjourning the May 11, 2015 Board Meeting at 8:20 PM.

OWNER FORUM

Board Members and Management addressed questions and feedback from Owners present at the meeting.