BOARD OF DIRECTORS MEETING

Management Report

Monday April 8, 2019  7:30PM

2nd Floor Party Room

6:30PM – Closed Session (Held by Board in Management Office)

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

Roll Call – 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.

Committee Reports

Committee Chairs or others so designated will be invited to update the Board on business and activities.

Board Report

The Board President may review business or other matters of interest with the Board and audience.

Action Items

1. Closed Session Business

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

2. Minutes – Board Meeting March 11, 2019

Attached to the report for Board Member review, are the proposed minutes from the Board of Directors Meeting held on Monday March 11, 2019, 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 March 11, 2019.”

3. Annual Meeting Schedule

Attached to the report for Board consideration is a draft initial notice for the 2019 Annual Meeting of the Unit Owners, including the Board Election Rules and draft Candidate Application form.

We propose a scheduled of Annual Meeting activities for this year as follows:

a. Initial notice mailed Friday April 12th.

b. Candidate Application due by Friday May 10th at 5pm.

c. Formal Annual Meeting Notice and proxy forms mailed Friday May 17th.

d. Candidate Meet and Greet Saturday June 1st 11am.

e. Meet the Candidate Meeting Wednesday June 5th 7pm.

f. Annual Meeting Monday June 10th 7:30pm.

A sample motion: “I move the Board of Directors does hereby approve scheduling of the 2019 PTCA Annual Meeting of Unit Owners for Monday June 10th, 2019, at 7:30pm, as well as Candidate meet and Greet events on Saturday June 1st at 11am and Wednesday June 5th at 7pm, and directs the necessary notices and mailings be drafted and distributed by Management as proposed.”

4. Bike Room Clean Out

As posted, Management is coordinating clean out of the Bike Room. A similar effort was coordinated last year. Very sadly, almost no one removed their bikes. As such, this year, we have indicated bikes will be removed by our team, at the cost of the parker, and that the Association and staff will not be responsible for damage and loss of bike locks in the process. For each bike not removed in time, we proposed a work ticket would be generated for $50 to be charged to the corresponding Unit Owner.

We propose the Board pass a resolution supporting this effort. Much like the policy for the garage power wash, a fee could be considered. On top of the time to remove each bike generating the work ticket, it will need to be stored. We would suggest a fee of $25. Although these are just bikes, this effort will be more labor intensive and take up space, which are the key difference from the garage power wash effort.

A sample motion: “Be it resolved that the Board of Directors approves removal of bikes not removed by residents in time for the planned maintenance the week of May 13th, at a cost of $50 to the corresponding Unit, as well as a $25 storage fee, and further it is understood the Park Tower Condo Association, its Board of Directors, Management, and staff will not be responsible for the destruction of locks to conduct such removals or the condition or damages to any bike following the effort.”

5. Dock Parking Pass Policy

To help manage parking, those who have authorization to park on the dock or back drive are issued “Dashboard Passes”. This has been the policy for many years, to help staff recognize who has approval to park, beyond moves, deliveries or those actively loading and unloading. Attached to the report for the Board’s information, is a sample of such a pass. These are printed up each month, on a different color of paper, and issued to those who properly check in with security and are authorized to park.

It has been proposed that we strengthen this policy, by requiring a picture ID to issue such passes.

A sample motion: “I move the Board of Directors approves a policy of requiring a government issued picture ID from those authorized to park on the main dock and issued a ‘dashboard pass’, which is anyone not in the process of a scheduled move, delivery or active loading and unloading, and that upon return of the dashboard pass, the staff will return the ID to the parker.”

6. Package Room Policy

The purpose of this Action Item is for the Board to discuss and consider proposed policies to post for management and use of the Package Room. Below are some basic guidelines to begin consideration:

1.       Package Room hours are 24 hours/7 days a week.

2.       To enter the package room, you will need to be a registered owner or resident of Park Tower, with an active key fob.

3.       COD’s (cash on delivery) may not be delivered or accepted at the Package Room.

4.       Owners and Residents shall retrieve your packages ASAP after you’re notified to avoid Package Room clutter. Anything held in excess of 10 business days may be returned.

5.       Very Large/oversized, and/or heavy package deliveries should be coordinated with the management office.

6.       Flatbed carts to assist with delivering packages to your unit may be checked out from security or the staff, but must be returned immediately. Stop by the front desk to inquire.

7.       A cooler is available for perishable deliveries. The bins are present for envelopes and smaller packages. The shelves will be used for storage of most medium sized packages and boxes. Large and oversized deliveries will be arranged in the front of the room.

8.       Park Tower staff may not assist with deliveries of packages to units, and should not be handling any personal belongings or property. However, please alert the front desk or office if there is a problem or if you need assistance of any kind.

9.       The Park Tower Condo Association, its Board of Directors, staff and and Management will not be responsible for the condition of any items delivered or stored in the Package Room including items alleged to be missing or stolen.

Any policies adopted should be formally incorporated into the Rules at some point in the future.

A sample motion: “I move the Board of Directors approves the policies for the Package Room, as discussed at the April 8th Board of Directors meeting and hereby directs Management to post and distribute said policies.”

7. Plaza/Market Signage

Attached to the report for Board review, is a new quote from Triangle Sign and Awning for replacement of the plaza sign, as well as a revised bid from TFA Signs. At the March 11th Board Meeting, the Board approved replacement of the sign to remove the Park Tower Market graphics and upgrade the LED panel and wiring. $54,241.88 was approved to be spent with TFA Signs of which the Park Tower Portion was expected to be $30,813.68. However, after receiving a revised quote from TFA to remove the “Go Grocer” portion of the sign, it was apparent the Park Tower cost for the structure and suite signage would be much more than we discussed at the meeting.

Presently, the all in bids stand at Triangle $54,955 and TFA $52,864. TFA has indicated they could drop the cost of construction by another $6500, but I am awaiting a response on the framework and housing for the LED cabinet – they’ve indicated they plan to re-use some of the existing materials.

At the meeting we will discuss the sequence of events since we last discussed this project, but I’ve grown very wary of TFA, and their product. Most of my concern is not related to the cost, but timing issues. TFA has suggested it could take up to 6 months to install their sign, where Triangle has said within 60 days. One variable contributing to the timing of both, is permitting. Fortunately, Triangle purchased the company that put in our original sign, and they removed for the Plaza project several years and are intimately familiar with it’s construction and frame. I believe their figure will expose us to a minimal possibility for unknown conditions.

The bigger concern is the LED panel. TFA said to expect up to 90 days for their product because it is shipped internationally. Triangle, 3 to 4 weeks, because it is shipped domestically.

Also – and a big consideration for the long term – while they both will provide a 5 year warranty, Triangle provides a 10 year guarantee parts and supplies availability. TFA stated their parts and supplies get shipped internationally. Triangle stocks supplies locally for theirs. I also spoke to the actual manufacturer for the Triangle sign ‘ThinkSigns’. They admitted some of their sign’s parts are made internationally. But for each product they keep an abundant stock of parts and materials domestically, hence the ability to provide the 10 year guarantee.

Combined, the timing for installation and availability of parts, lead us to believe the Triangle proposal would be a wiser direction to go with such a big investment. One consideration, if it takes up to 90 days to get the TFA LED panel, if something goes wrong – even with the 5 year warranty – how long will it take to get replacement components?

We were able to actually see the “ThinkSign”, and attached is a picture for the Board’s reference. They brought a smaller panel to the office and were actually able to show us the various components which will be stored in the cabinet once it is installed. In terms of clarity, it is noticeably similar to the TFA sign, but it is 10mils as compared to 3mils. (Referring to the distance between the LED pixels.) At the time of the picture, the flag was waving, with a scrolling message, “God Bless America”.

A sample motion: “I move the Board of Directors rescinds approval from the March 11th 2019 for a proposal by TFA signs to install the new plaza sign, and instead approves the proposal by Triangle Signs And Awnings, for installation of the new sign and LED panel at a cost not to exceed $54,955.”

8. Pool Area Electrical Panel

Attached to the report for Board Review are three bids for the budgeted electrical repairs needed for the pool area.

AMS Mechanical Systems            $15,725

City Service Electric                      $43,990

Dunning Electrical                        $9,895

We’ve used each of these vendors in the past, and have been happy. City Service is typically the high bidder, but even this bid is an outlier. They’ve revised the bid twice already, and continue to include an unnecessary installation of a transformer, which we believe accounts for more than $20,000 of the difference.

The budget for this project is $12,500. We would like to proceed with AMS, and have asked them to sharpen their pencil. We’ve had reliable work performed by Dunning in the past, but for this type of project we would be much more comfortable with the AMS staff who we would be working with. Dunning we’ve relied on for smaller scale projects, and despite being the lowest, we are inclined NOT to go with the low bidder on this one.

A sample motion: “I move the Board of Directors approves the electrical repairs and panel replacement in the pool area as proposed by AMS Mechanical Systems at a cost not to exceed $15,725.”

9. Boiler Control Panel

Attached to the report for Board review, are quotes for the budget replacement of Boiler Control Panel. This is to significantly modernize control components with monitor and regulate boiler water flow and steam levels. The bids are as follows:

Ewing-Doherty Mechanical         $36,278

Fluid Technologies                        $35,300

W.J. O’Neil                                     $39,640

The budget for this was estimated at $30,000, as a part of HVAC Repairs planned for this year.

A sample motion: “I move the Board of Directors approves replacement of the duplex boiler feed pump control panel by Fluid Technologies Pumps and Controls, Inc., as proposed at an expense of $35,300 to be funded by the Reserve Fund.”

10. Pool Area Air Damper

Attached to the report for Board review, are quotes for replacement of air damper system for the pool air handling unit. This is budgeted as part of a variety of HVAC tasks planned this year for Air Handling System improvements, the total budget for which was anticipated at $84,000, of the $640,000 in HVAC Repairs and Replacements noted in the approved budget.

This is very similar to the lobby air handler project discussed at the last Board Meeting, as the current damper failed and has to be operated manually, which is for obvious reasons problematic, particularly during periods of adverse weather. It is also a code compliance issue – though fortunately as opposed to the lobby air handler problems, inspectors have not made mention of this equipment as of yet.

Also consistent with the lobby project, the bids for the recommended replacement device, “Tamco 9000” as noted on the proposals, will be an improvement over the existing device as it is better able to handle severe weather – particularly very cold conditions. Bids are as follows:

DEMCO Mechanical        $13,401

Kroeschell Service           $14,562

W.J. O’Neil                       $14,730

We have done work with each vendor, so we have no objection using the low bidder.

A sample motion: “I move the Board of Directors approves the proposal by DEMCO Mechanical, to replace the pool area air handler damper system as proposed at an expense of $13,401 to be funded by the Reserve Fund.”

11. Bike Room Exterior Masonry

Attached to the report for Board review, are quotes for the repairs along the lower portion of the exterior wall of the bike room, where the brick meets the sidewalk. You may recall from previous reporting, this was determined to be needed, much like the repairs along the exterior wall of Suite 108, to address seepage and leaking.

This project was not formally budgeted, as what to do or how much to budget was not determined until after the budget was released. It was around that time the work was being done to the wall along Suite 108. But the most recent financial reports (including the 10 Year Budget), included a provision of $75,000 for this effort. Bids are as follows:

JLJ Contracting               $48,900

Quality Restoration        $53,000

Reliable Building Sys.      $53,850

We recommend an additional provision of 25% be approved, to address unknown conditions should they arise.

A sample motion: “I move the Board of Directors approves masonry repairs to address leaking along the exterior wall of the bike room, as proposed by JLJ Contracting at a cost of $48,900, and an additional provision of $12,500 to address any unknown conditions as they arise, for a total of $61,400 to be funded by the Reserve Fund.”

12. Construction Request

Attached to the report for Board Member review are remodeling packet for the following Unit Owner construction project:

#2904-Bathroom Remodel

A sample motion follows: “I move the Board of Directors approves the remodeling plans of unit 2904 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
1.     Treasurer’s Report

Fund Balances End of February 2019

Operating Funds $418,065 (decrease of $190,883 from prior month)

Reserve Funds $2,263,698 (increase of $236,401 from prior month)

Total Cash and Investments $2,681,763 (decrease of $96,409 from prior month)

February 2019 Revenue and Expenses

Total Operating Revenue: $517,188

Total Operating Expenses: $454,847

Income From Garage: $19,184

Contribution To Reserve: $136,675

Total Deficit: $55,149

CD Transaction

Management acted in consultation with the Board Treasurer to renew a Certificate of Deposit at Harris Bank. This action should be formally ratified by the Board. Attached to the report for Board review is the memo from Draper and Kramer with specific details summarized as follows:

A CD with Harris Bank for the Operating Fund, was renewed for 18 months, totaling $52,606.71 with a 2.75% yield:

A sample motion follows: “I move the Board of Directors approves the renewal of a $52,606.71 Certificate of Deposit with a 2.75% interest rate for 18 months with Harris Bank, for the Operating Fund investments, scheduled to mature on September 23, 2020.”

2.     Management Report

a. Business and Activities

b. Recent Sales Activity

ADJOURNMENT

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

A sample motion: “I move the Board of Directors adjourns the April 8, 2019 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 regular Board Meetings – Monday April 22nd and May 13th, 7:30PM in the Party Room

Next Resident Forum – Tuesday April 30th, 7pm in the Party Room