BOARD OF DIRECTORS MEETING

Agenda and Report

Monday March 28, 2016 at 7:30PM

2nd Floor Party Room

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

The Board and Management will address questions and feedback from owners present.

OPEN SESSION – Call to Order

Please be courteous – no audience participation is permitted.  Speakers will be recognized by the Meeting Chair.

Roll Call – Confirm Quorum

The Board President will call the meeting to order and confirm a quorum of members is present in order to conduct business.

Committee Reports

Committee Chairs and Members will be welcome to present reports and update the Board on business and activities.

Board Report

Board President George Pauley may update the Board and Owners on Association business and activities.

Action Items – New Business

Closed Session Business

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

Minutes – Board Meeting March 14, 2016

Attached for Board of Directors review, are the proposed minutes from the Board Meeting held on Monday March 14, 2016, submitted by Timothy Patricio, Property Manager.

A sample motion follows: “I move the Board of Directors approves the minutes from the Board Meeting held on Monday March 14, 2016.”

2016 Annual Meeting Schedule

Management proposes the following dates related to activities and scheduling for the 2016 Annual Meeting:

Friday April 15th                 Mailing of Initial Annual Meeting Announcement

Friday May 13th                  Deadline for Receipt of Candidate Info Forms – 5pm

Friday May 20th                 Mailing of Formal Annual Meeting Notice

Wed. June 1st                      Meet The Candidates Forum – 7pm

Sat. June 4th                        Candidate Meet and Greet – 11am

Mon. June 13th                   Annual Meeting and Election – 7:30pm

We also expect Tower Talk will have a Q&A for the candidates as they did last year. The Q&A would be distributed Saturday May 14th with a request their answers be returned by Wednesday May 18th.

Attached to the report for Board Member review is the draft initial meeting announcement.

A sample motion follows: “I move the Board of Directors schedules the 2016 Annual Meeting of the Unit Owners and Board Election for Monday June 13th at 7:30pm in the 2nd Floor, with the initial announcement to be mailed by Friday April 15th, forms for candidates of record for the election to be due in the Management Office no later than 5pm on Friday May 13th, and the Annual Meeting Notice to be mailed by Friday May 20th.”

Reserve Study Update

As budgeted, the Budget & Finance Committee and Management recommended a professional Reserve Study Update be done this year. It has been two years, and as we originally anticipated, there have been changes which would alter the outlook enough to make it a worthwhile endeavor to have their projections formally updated.

Attached for Board Member review, is the original update proposal, which was provided with the presentation of their Reserve Study in the fall of 2014. Their proposal is good so long as the update is done by the 4th quarter of 2017. This gives us plenty of time, but due to the known changes over the past two years, we recommend the update be completed by August so their figures can be used for consideration of the 2017/2018 fiscal year budget.

A sample motion follows: “I move the Board of Directors approves the proposal by Reserve Advisors to complete a formal update of their 2014 Park Tower Condo Association Reserve Study, at a cost of $10,900.”

Outdoor Pool Resurfacing

Attached to the report for Board review are bids for the budgeted resurfacing of the outdoor pool.

BK Sandblasting                  $14,500

All Seasons Pool & Spa       $13,800

We are waiting for two more bids, from JLJ Contracting and HOH Inc.

This project was budgeted for $20,000.

A sample motion follows: “I move the Board of Directors approves resurfacing of the outdoor pool as proposed by ____________, at a cost of ____________.”

Lobby Door Enclosure

We would like to begin the process to build the proposed and budgeted lobby door enclosure. This was budgeted in lieu of replacing the north lobby door.

The project was budgeted at $30,000, but we will need to get drawings and a permit, so we expect the cost on this to come modestly over budget. Rough drawings were provided by JLJ when were soliciting them for numbers to help with budgeting. This follows the attached proposals provided for Board review. Since we will need to have architectural drawings done, these can be provided to the Board for final review and approval before we go for permitting.

The proposals are as follows:

Nolan Contracting            $35,890

Reliable Building              $37,100

JLJ Contracting                $33,960

None of the bids include drawings and a permit, which after a meeting with the low bidder, JLJ, we believe will be about $5000. It is impossible to determine until the drawings are reviewed by the City, which departments this will need to be passed through to get a permit. So we suggest the Board get this started by approving a cost not to exceed $40,000.

The drawings will take 3 to 4 weeks, and the permitting process may take 4 to 8 weeks. Once the architectural drawings are done, we will submit to the Board for final approval.

A sample motion follows: “I move the Board of Directors approves construction of the proposed north lobby door wind break enclosure, including replacement of the existing north lobby door and drafting of the necessary drawings to apply for the requisite city permits at a cost not to exceed $40,000; management will submit the professional drawings to the Board for final approval prior to seeking a permit and beginning construction.”

ADJOURNMENT

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

A sample motion follows: “I move the Board of Directors adjourns the March 28, 2016 Board Meeting a_ _ PM.”

OWNER FORUM – 15 minutes, 2 minutes per person

The Board and Management will address questions and feedback from owners present.

The next meeting date is Monday April 11th at 7:30pm in the Party Room.

The next Owner’s Forum meeting is scheduled for Wednesday May 4th at 7pm in the Party Room.