Board Meeting Monday August 8th 7:30PM
August 5, 2022
BOARD OF DIRECTORS MEETING
Monday August 8, 2022 7:30PM
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.
OWNER FORUM – 7:30PM
The Board of Directors and Management will welcome and address feedback and questions from Unit Owners.
CALL TO ORDER – Board Meeting Open Session
The meeting chair, expected to be Board President Michael Parrie, will call the meeting to order.
Confirm Quorum
The meeting chair will confirm a quorum of Board Members is present. Board Members and representatives from Management will be introduced.
Commission Reports
Commission chairs or members so designated will be invited to update the Board and Owners on business and activities.
Attached to the report for Board Review are the most recent reports submitted by the Home Improvement Commission from July 12th and August 2nd, and the most recent Social Commission report.
Board Report
The meeting chair may give a report on current Association business and activities of interest.
Action Items
- Closed Session Business
This agenda item is provided for any resolutions proposed resulting from Closed Session discussion.
- Minutes – Board Meeting July 18, 2022
Attached to the meeting report for Board Member review, are the proposed minutes for the Board of Directors Meeting held on Monday July 18, 2022, as submitted by Property Manager Timothy 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 July 18, 2022.”
- Updated 22.1 Disclosure
Attached to the report for Board Member review is the updated 22.1 disclosure through June 2022 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:
(1) A copy of the Declaration, by-laws, other condominium instruments and any rules and regulations.
(2) A statement of any liens, including a statement of the account of the unit setting forth the amounts of unpaid assessments and other charges due and owing as authorized and limited by the provisions of Section 9 of this Act or the condominium instruments.
(3) A statement of any capital expenditures anticipated by the unit owner’s association within the current or succeeding two fiscal years.
(4) A statement of the status and amount of any reserve for replacement fund and any portion of such fund earmarked for any specified project by the Board of Managers.
(5) A copy of the statement of financial condition of the unit owner’s association for the last fiscal year for which such statement is available.
(6) A statement of the status of any pending suits or judgments in which the unit owner’s association is a party.
(7) A statement setting forth what insurance coverage is provided for all unit owners by the unit owner’s association.
(8) A statement that any improvements or alterations made to the unit, or the limited common elements assigned thereto, by the prior unit owner are in good faith believed to be in compliance with the condominium instruments.
(9) The identity and mailing address of the principal officer of the unit owner’s association or of the other officer or agent as is specifically designated to receive notices.
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 June 2022.”
- Accept Home Improvement Hallway Mock Up Plans
Attached to the report for Board review and consideration are reports including recommendations from the Home Improvement Commission to move forward with mock-ups for potential Hallway Remodeling. These are proposed for the 55th, 54th and 53rd floors.
To review the Home Improvement Commission reports from the meetings where this was discussed:
Click Here for 7-12-2022 and Click Here for 8-2-2022
A sample motion: “I move the Board of Directors of the Park Tower Condo Association accepts the recommended plans and specifications proposed by the Home Improvement Commission for hallway remodeling mock-ups of floors 55, 54 and 53.”
- Hallway Fixtures (Floors 53 & 54)
Attached to the report for Board review are proposals for purchasing the light fixtures for the mock-ups of the 54th and 53rd floors. In April the Board approved the fixtures for the 55th floor at $259.27 apiece from Active Electric after tax. Their new initial bid for 54 and 53 was $301.37 per light after tax. So given that inflation, we got a second opinion from Clark Devon who bid $280.48 per fixture. We asked Active to sharpen their pencil, and they came back with $274.52.
A sample motion: “I move the Board of Directors of the Park Tower Condo Association approves purchasing and installing new 12 watt LED light fixtures on floors 54 and 53 to replace the existing lighting, consistent with the previously approved lighting for the 55th floor, at an expense of $9,882.81 as proposed by Active Electrical Supply, to be installed in house by our maintenance team.”
- Service/Support Animal Request
The Board received a request for support animal which was reviewed by legal counsel for an opinion and recommendation, to be discussed in Closed Session.
A sample motion: “I move the Board of Directors of the Park Tower Condo Association approves/denies the request for support animal based on advice from the Association’s legal counsel.”
- Jacuzzi Heater Replacement
Attached to the report for Board review are quotes for the purchase of a new jacuzzi heater.
While our team was preparing the pool area to reopen, the jacuzzi heater was found to be leaking (picture attached). It was taken apart and inspected and the gaskets were replaced, but upon testing it continued to leak. It was found that the main steel body the water runs through containing the heating elements was leaking and there would be no efficient way to repair it. The fixture is almost 10 years old and has been discontinued. So the team ordered a new heater. The engineer got two quotes:
All Seasons Pools & Spas $3,874.16
Halogen Supply $2,988.21
The labor will be done in house. Although the expense is below our threshold for independent approval, because it was an unexpected expense we request the Board formally accept this.
A sample motion: “I move the Board of Directors of the Park Tower Condo Association approves and ratifies the decision by Management to purchase a new jacuzzi heater as proposed by Halogen Supply Company for $2,988.21.”
- Fire Pump Supply Line
Attached to the report for Board review are quotes for the replacement of the main 8” supply line that feeds the fire pump.
As our team was completing work related to our annual fire safety testing and maintenance, a relatively large section of the main feed line from the City was found to have excessive deterioration (picture attached). As this relates directly to building fire safety, after we received two bids, we immediately placed an order:
Fettes, Love & Sieben $5,050
Fluid Technologies $5,367
Both companies are in good standing with the building and have done excellent work for us in the past. So there was no reason not to go with the low bidder.
A sample motion: “I move the Board of Directors of the Park Tower Condo Association approves and ratifies the decision by Management to replace a deteriorating section of the main fire pump water line as proposed by Fettes, Love & Sieben for $5,050.”
- Heat Exchanger Project – Valve Replacements
Previously the Board approved for Kroeschell Service to begin the budgeted Heat Exchanger Testing and Repairs planned for this year. $105,000 is budgeted, and in March the first step in the testing process was approved for $9,560. This was the first part of what we expected would either be a larger project, or what would provide us with information for future planning.
As the work got underway, the gate valves serving the Heat Exchanger were determined to be failing, and required replacement. So that the work could continue efficiently and to avoid delaying the work as the heating season is approaching, after discussing this with the Board President the parts were ordered and the necessary work by Kroeschell was authorized. This included freezing the line on either side of the valves so the treated water inside the pipes would not have to be completely drained and wasted ($3,775), and for the parts and labor for their replacement ($7,057).
This work is underway and when completed they will be able to move on to the testing phase after which we will know more about the conditions inside the Heat Exchanger. What we learn will determine the next steps.
A sample motion: “I move the Board of Directors of the Park Tower Condo Association approves and ratifies the decision by Management to replace the gate valves serving the Heat Exchanger, as reserve expense, and as proposed by Kroeschell Service, Inc. at a total expense of $10,832.”
- Construction Requests
Attached to the report for Board Member review are remodeling packets for the following Unit Owners’ construction projects:
Unit 4201 Hard Flooring Install
Unit 4115 Hard Flooring Install
Unit 4705 Washer/Dryer, Kitchen, Bathroom
Unit 4905 Hard Flooring Install
A sample motion follows: “I move the Board of Directors approves the remodeling plans for units 4201, 4115, 4705 and 4905 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
- Treasurer’s Report
Attached to the Report for Board Review is the June 2022 Balance Sheet and Statement of Income & Expenses as reported by the Habitat Company.
Fund Balances End of June 2022
Operating assets totaled $1,661,714 and the Reserve cash and investments were $3,668,753 for a total of cash and investments of $5,330,467.
June 2022 Revenue and Expenses
Total Operating Revenue: $601,763
Total Operating Expenses: $393,485
Income (Loss) From Garage: $24,664
Contribution To Reserve: $149,567
Total Surplus/(Deficit): $83,376
- Management Report
Business and Activities – Property Manager Tim Patricio will review current business and activities of interest.
Engineer’s Report – Property Manager Tim Patricio will review activity of interest from the Maintenance team.
Recent Sales Activity – Property Manager Tim Patricio will review the most recent Sales. The current Sales & Lease reports are attached to the meeting report for Board review.
ADJOURNMENT
There being no further business, the Board will consider adjourning the meeting.
A sample motion: “I move the Board of Directors adjourns the August 8, 2022 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 Monday August 22nd and September 12th at 7:30PM in the 2nd Floor Party Room.
About the Author: Tim Patricio
Park Tower Horizons
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