Board Meeting Monday Feb. 10th 7:30PM
February 9, 2020
BOARD OF DIRECTORS MEETING REPORT
Monday February 10, 2020, 7:30pm
2nd Floor Party Room
6:30PM – CLOSED SESSION (Management Office)
7:30PM – Habitat Company Presentation – E-statements & Online Payment Q&A
OWNER FORUM – 15 minutes, 2 minutes per person
The Board of Directors and Management will welcome and address questions and feedback from Unit Owners.
CALL TO ORDER
Roll Call – Confirm Quorum
The meeting chair, expected to be Board President Michael Parrie, 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.
Notes from the Home Improvement Commission Meeting on January 23, are attached for Board Review.
Board Report
The Board President 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 – Special Meeting To Review Budget January 13, 2020
Attached to the report for Board Member review, are the proposed minutes from the Special Meeting of the Unit Owners held to review the proposed budget for the 2020/2021 fiscal year, on Monday January 13, 2020, as submitted by Timothy Patricio, Property Manager.
A sample motion: “I move the Board of Directors approves the minutes from the Special Meeting of the Unit Owners to review the proposed Park Tower Condo Association budget for the 2020/2021 fiscal year, held on Monday January 13, 2020.”
- Minutes – Board Meeting January 13, 2020
Attached to the meeting report for Board Member review, are the proposed minutes from the Board of Directors Meeting held on Monday January 13, 2020, 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 January 13, 2020.”
- 2020/2021 Insurance Program
Attached to the report for Board Review is the Premium Summary and Comparison for the 2020/2021 Insurance Program. This includes the Property and General Liability coverage, and Workers Compensation.
GREAT NEWS – The Commercial Package coverage, with policies including Property, General Liability, Crime, Director’s & Officers and Umbrella insurance, is proposed for renewal at a total of $186,620. The budget for this expense $208,900. This is a relatively large increase from last year – particularly due to the updated appraised value of the building, but it is much less than we anticipated.
The Workers Compensation program coverage was renewed for a total of $37,719. The budget for this expense was $42,000.
A sample motion: “Be it resolved that the Board of Directors approves renewal of the Association’s annual insurance program for the 2020/2021 fiscal year, as proposed and recommended by Alliant/Mesirow Insurance Services for Property Insurance, General Liability Insurance, Equipment Breakdown Insurance, Crime Insurance, Director’s & Officers Insurance, Workers Compensation Insurance and Umbrella Insurance, at a total combined premium expense of $224,339.”
- Mailing Proposed Rules and Regulations
The Board received feedback from legal counsel and following a few relatively immaterial adjustments, the document is ready for printing and mailing to Unit Owners. Much like the proposed budget, a Special Meeting should be scheduled for discussion and answering Unit Owner questions, prior to formal adoption by the Board. This could be scheduled in tandem with the March 9, 2020 Board Meeting.
A sample motion: “I move the Board of Directors accepts the proposed draft of the Rules and Regulations handbook as edited following legal review by Association counsel, and hereby directs Management to print and mail to Unit Owners for their consideration, with a notice for a Special Meeting to discuss the proposed Rules, to be held on March 9, 2020.”
- Support Animal Requests
Attached to the meeting report for Board review are three requests from Unit Owners for authorization to keep a Support Animal in the unit, as well as written opinions regarding the requests from the Association’s legal counsel.
It is suggested one be approved and two be denied.
A sample motion: “I move the Board of Directors approves [or] denies a Unit Owner’s request for a support animal.”
The Board could change the motion to include all three requests, or pass three separate resolutions.
- Jacuzzi Pump
The jacuzzi pump began failing in the month of January, and after discussing and getting emergency approval from the Board President, replacement was scheduled. Attached to the report for Board review, is the proposal approved by Management. Work has already been completed.
We request the Board formally ratify this action.
A sample motion: “I move the Board of Directors approves replacement of the jacuzzi pump, as proposed by All Seasons at a cost of $2100.”
- Management Office Door
In mid-January, the office door spring, closer and latch failed, such that the door would not automatically close or latch by itself. It would stay ajar when people went in and out. At times, the staff has actually been locked inside the office, unable to get out. After discussion with the Board President, replacement of the door and everything but the frame and key cylinders, was approved. It has been ordered, and being a custom door will take several weeks for replacement. Fortunately, our team has been able to make it operational, but it is a temporary fix which could fail at any moment. In fact, since that time it has had to have additional attention on numerous occasions.
We request the Board formally ratify this action.
A sample motion: “I move the Board of Directors replacement of the Management Office door, as proposed by Door Systems at a cost of $4495.”
- Yoga Guests
Attached to the report for Board review, is a copy of a “Block Club” e-mail, advertising the Yoga classes. A concern was raised about this allowing unsecured outside guests, for business purposes, in the Party Room.
This item was added for Board discussion and consideration whether a policy is needed regarding the arrangement for Yoga.
If a resolution is necessary, it can be proposed at the meeting.
- Composting Proposal
Attached to the report for Board review, are materials and correspondence between Management and Tower Talk, and a local firm which provides composting service.
This item was added for Board discussion and consideration whether to further pursue a composting service arrangement.
If a resolution is necessary, it can be proposed at the meeting.
- Construction Requests
Attached to the report for Board Member review are the remodeling packets for Units 608, 1006, 2205 and 3008.
608 – Flooring remodel
1006 – Washer/dryer install
2205 – Flooring, kitchen & bathroom remodel
3008 – Kitchen & bathroom remodel
A sample motion follows: “I move the Board of Directors approves the remodeling plans of units 608, 1006, 2205 and 3008, as submitted by the unit owner, following the recommendations of the building 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 December 2019 Balance Sheet and Statement of Income & Expenses from FirstService Residential. We did not receive the traditional reports we have in the past, so the following is the best we can ascertain (for now) from what was reported by FirstService Residential.
Fund Balances End of December 2019
Due to the transition and the nature FirstService reporting, balances are non-verifiable at this time. They are presently being reconciled and Habitat expects a full regular presentation of the Financials for January.
December 2019 Revenue and Expenses
Total Operating Revenue: $506,442
Total Operating Expenses: $438,115
Income From Garage: (included above)
Contribution To Reserve: $144,975
Total Defecit: $60,374
- Management Report
Property Manager Tim Patricio is expected to review current business and activities of interest, as well as the most 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 February 10, 2020 Board Meeting at ____PM.”
OWNER FORUM – 15 minutes, 2 minutes per person
The Board of Directors and Management will welcome and address feedback and questions from Unit Owners.
Next Board Meetings Scheduled for Monday February 24th at 7:30pm, and Monday March 9th. All meetings are held in the 2nd Floor Party Room at 7:30pm unless otherwise posted.
On Monday February 24th, there will also be a Garage Project Town Hall Meeting at 7pm.
About the Author: Tim Patricio
Park Tower Horizons
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