BOARD OF DIRECTORS MEETING

Agenda and Management Report

Monday July 13, 2015 at 7:30PM

LOCATION: Mall Atrium Under The Skylight

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

The Board and Management well address questions and feedback from Owners.

7:45PM – OPEN SESSION – Call to Order

The Chair will call the meeting to order and confirm a quorum of Board Members is present. Please be courteous – no audience participation is permitted.  Speakers will be recognized by the Meeting Chair.

Committee Reports

Any Committee Chairs or members will be given the opportunity to report on business.

Board Report: Acting President George Pauley

The previous cycles Board President may give a report on Association news or business.

Action Items – New Business

Election Of Officers

The new Board must elect officers for the 2015/2016 cycle. Motions can be recommended for either a slate of officers, or elected individually.

A Sample Resolution: “I move the Board of Directors appoints ________ as Board President, _______ as Board Secretary, _______ as Treasurer, _______ as Board Vice President and _______ as Board 2nd Vice President.”

2015/2016 Board Meeting Schedule

Attached to the report for the Board is a proposed schedule of meetings and owner forums for the 2015/2016 Board cycle.

A Sample Resolution: “I move the Board of Directors schedules Board Meetings as proposed by Management on the 2nd and 4th Monday of each month, and home owners forums on August 3rd, November 7th, February 2nd and May 4th, (with the exception of….).”

Minutes – Board Meeting June 15, 2015

Attached, for the Board of Directors, are the proposed minutes from the Board Meeting held on June 15, 2015, submitted by Timothy Patricio, Property Manager.

A sample resolution follows: “I move the Board of Directors approves the minutes from the Board Meeting held on June 15, 2015.”

Affirm Commissions, Charters and Commission Chairs

Management suggests the Board affirm the present Commissions, their charters and Commission Chairs and memberships as they presently stand.

Attached to the report for the Board, for informational purposes, are the present charters, as well as the document from our legal counsel which is the basis of the Association’s use of Commissions instead of Committees. But please be advised, while they are Commissions in definition, they are called Committees to limit any confusion. PTCA cannot have actual “Committees” because it is not specifically allowed in the Bylaws.

A sample resolution follows: “I move the Board of Directors affirms the existence of all present Commissions, the current charters they are operating under, and their current Commission Chairs and membership.”

Handling Meeting Disruptions

This item was added at the request of multiple Board Members.

It is proposed the Board formally address disruptions at Board Meetings by fining participants who are either disorderly, speak out of order, interrupt others the chair acknowledges have the floor or otherwise act inappropriately while attending a Board, Committee or other Association meetings or Association sponsored events.

The relevant rules presently in place are as follows:

From page 14 of the Rules, under “Staff Complaints and Disputes”, “Abusive or threatening language or acts directed toward any employee, board member, resident or the management of the Park Tower Condominium Association by any owner, renter or guest thereof, may result in the imposition of fines and/or termination of privileges after an appropriate hearing by the Rules and Regulations Committee and recommendation to the board. This includes threats and disruptive behavior.”

From page 28 of the Rules, under “Disturbances”, “In consideration of and cooperation with others in the Park Tower community, residents shall not disturb or interfere with the comforts, rights, safety and quiet enjoyment of other owners, residents and their guests. Disruptive activity shall not be carried out within any residential unit or in the common elements, which may be or become an annoyance or nuisance to the other owners or occupants.”

In as much as poor or inappropriate behavior at a meeting or event may interrupt the proceedings which thereby may annoy other attendees or prevent business from proceeding in an orderly and professional manner, it very well could be considered disruptive behavior and/or a disturbance as defined by these rules.

We suggest the Board discuss this and whether to establish a policy to address such disruptions. If necessary, a resolution can be considered at the meeting.

2014/2015 Audit Acceptance

By now all Board Member should have received and reviewed the preliminary draft of the 2014/2015 Audited Financial Statements. It is our understanding the chairman of the Finance Committee will report that he polled the Committee and they unanimously agreed to recommend the Board accept the audit and make it available to unit owners.

Attached to the report for the Board is another copy of the draft audit and the representation letter which will need to be signed and returned to Picker and Associates upon acceptance.

A sample resolution follows: “I move the Board of Directors accepts the audit of the Financial Statements for the 2014/2015 Fiscal Year as presented by Picker and Associates, Inc.”

Note: The Board may also choose to act on the disposition of the audited operating surplus, reported by Picker and Associates, in the amount of $138,678. The Budget & Finance Committee recommended 25% remain as a part of the Operating Contingency Fund, and 75% be assigned to the Reserve Fund.

Emergency Texting Proposal

As a next step in the evolution of our improved communication efforts, Management would like to consider pursuing a service to send out mass texts. For example, in the event of a fire or elevator outages, residents who are signed up for emergency texts would receive text alerts. Before doing any significant work considering this, we would like to discuss what this is and whether the Board is at all interested. There would also be considerations to help focus how we pursue such services:

a. Is the Board interested?

b. Under what conditions might this service be helpful?

c. In most cases, this service does have a minimal fee – if so would the Board prefer this be pursued as a part of the upcoming budget.

For now, a resolution is not needed. We would just like to discuss this as a group with the Board.

Phase 1 Exterior Sealant Inspection

As budgeted, it is time to begin regular annual exterior inspections to review the condition of the exterior sealants. A plan and proposal by our engineering firm, WJE, is attached to the report for the Board to review. Their proposal to conduct the investigation, at a total cost of $21,560, is consistent with their original proposal 5 years ago, and falls within the reserve budget line item of $25,000 for this year. Originally they suggested 2 drops – the proposal actually calls for 3 drops, which is better for us.

A sample resolution follows: “I move the Board of Directors approves the proposal by WJE to perform Phase 1 of the planned exterior sealant inspections, at an anticipated cost of $21,560.”

Unit Owner Request – Rental Exception

The Unit Owner of 915 submitted a request for the Board to consider a hardship exception to the restrictions on renting their units. For the Board’s consideration, attached to the report is the written request.

A sample resolution follows: “I move the Board of Directors grants/denies the request from the Unit Owner of 915 for a hardship exception from the leasing restrictions in the Park Tower Condo Rules and Regulations.”

Scavenger Rebate Resolution

In order to file for this year’s scavenger rebate, the Board needs to pass the following resolution: “I move the Board approves a resolution authorizing submission of the required information to the City of Chicago regarding scavenger services for the purpose of receiving the rebate for said cost under the appropriate City Ordinance for the period of January 2015 through June 2015, and for the period of July 2015 through December 2015.”

Construction Requests

Owners of the following units presented the Association with remodeling plans, attached to the report for Board review and consideration:

Unit 3402 remodeling kitchen, bathroom and installing a dishwasher and washer and dryer, and installing a hardwood floor. The owner requests the plans be accepted without yet identifying the contractors (because she does not want to go through the process without knowing the work she is proposing is acceptable), and we have advised her it would be contingent upon acceptance of the necessary paperwork including signed forms, certificates of insurance and relevant licenses.

A sample resolution follows: “I move the Board of Directors approves the remodeling plans of units 3402 as submitted by the unit owner, following the recommendations of the chief engineer, and as outlined in their written specifications and in accordance with the Rules and Regulations and remodeling guidelines of the Park Tower Condo Association, and contingent upon the receipt of the required and completed PTCA forms, certificates of insurance and license as may be required for any contractors or individuals hired to perform the work in the unit.”

Unit 1407 remodeling bathroom cabinets, crown molding and hardwood flooring.

Unit 1214 installing hard flooring and molding.

A sample resolution follows: “I move the Board of Directors approves the remodeling plans of units 1407 and 1214 as submitted by the unit owner, following the recommendations of the chief engineer, and as outlined in their written specifications and in accordance with the Rules and Regulations and remodeling guidelines of the Park Tower Condo Association.”

Reports:

Treasurer’s Report

MAY FINANCIAL ACTIVITY (Accrual Based)
Total Revenue = $470,393

Total Operating Expenses = $346,776

Net Income from Garage Operations = $15,280

Operating Income = $138,897

Reserve Contribution = $117,200

Net Surplus/(Deficit) = $21,697

Total Reserve Expenses = $615

MAY BANK ACTIVITY (Actual EOM Balances)

Operating Account Balance = $301,783

(Decrease of $365,514 from April.)

Reserve Account Balance = $2,049,868

(Increase of $378,545 from April.)

Total Cash and Investments = $2,351,651

Management Report: Tim Patricio

Updates
Monthly Activity Report
Sales and Leasing Report

ADJOURNMENT
There being no further business, the Board will consider adjourning the July 13, 2015 Board Meeting.

A sample resolution follows: “I move the Board of Directors adjourns the July 13, 2015 Board Meeting at ____ PM.”

OWNER FORUM – 15 minutes, 2 minutes per person

The Board and Management well address questions and feedback from Owners.

CLOSED SESSION
Discussion of possible or pending litigation, personnel matters, and/or violations of rules and regulations. (Condominium Act – Sec. 18, a. 9)