Board Meeting Monday May 9th 7:30pm
May 6, 2022
BOARD OF DIRECTORS MEETING
Monday May 9, 2022 7:30PM
Agenda and 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 is the most recent report submitted by the Home Improvement Commission.
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 April 11, 2022
Attached to the meeting report for Board Member review, are the proposed minutes for the Board of Directors Meeting held on Monday April 11, 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 April 11, 2022.”
- Updated 22.1 Disclosure
Attached to the report for Board Member review is the updated 22.1 disclosure 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 March 2022.”
- Social Commission Request
This action item was requested for discussion regarding planning for the 4th of July party. The Commission would like Board input on moving forward with the party and a number of adaptations proposed in light of the ongoing COVID concerns.
Attached to the report for Board review you will find correspondence shared with us regarding this request.
If a resolution is needed, it can be proposed at the meeting.
- Support Animal Requests
The Board received two requests for support animals which were reviewed by legal counsel for opinions and recommendations.
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.”
- Health Club Vaccine Exemption Request
The Board received a request for an exemption from the Health Club Covid-19 vaccine requirement, which was reviewed by legal counsel for an opinion and recommendation.
A sample motion: “I move the Board of Directors of the Park Tower Condo Association approves a request for an exemption from the Health Club Covid-19 vaccine requirement, based on advice from the Association’s legal counsel.”
- 2nd Floor Deck Color
The purpose of this action item is to address an additional recommendation from the Home Improvement Commission for an accent stain color choice to be included in certain locations of the 2nd Floor Deck. As repairs got underway, a section of the new stain was applied and Management suggested the Commission check it out. They felt an accent color would help tie colors together.
The color sample sheet with the selection “Charcoal” noted is attached to the report for Board review, as well as a rendering of the deck showing the locations the Commission suggests for this including the pergola, benches, rails, planters and the vertical risers on the steps. Let me know if you have any questions.
A sample motion: “I move the Board of Directors of the Park Tower Condo Association approves the color change recommended by the Home Improvement Commission for accent staining of the 2nd Floor Deck as proposed for locations such as the pergola, benches, rails, planters and the vertical risers on the steps with Sherwin Williams ‘Charcoal’ stain color.”
- Construction Requests
Attached to the report for Board Member review is a remodeling packet for the following Unit Owner’s construction project:
Unit 4406 Guest Bathroom Remodel
A sample motion follows: “I move the Board of Directors approves the remodeling plans for unit 4406 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 March 2022 Balance Sheet and Statement of Income & Expenses as reported by the Habitat Company.
Fund Balances End of March 2022
Operating assets totaled $1,623,166 and the Reserve cash and investments were $3,446,145 for a total of cash and investments of $5,069,311.
March 2022 Revenue and Expenses
Total Operating Revenue: $587,345
Total Operating Expenses: $400,267
Income (Loss) From Garage: $28,182
Contribution To Reserve: $146,508
Total Surplus/(Deficit): $68,752
- 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 May 9, 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 May 23rd at 7:30pm and June 13th at the suspension of the 2022 Annual meeting. Also, Owners are reminded the 2022 Annual Meeting is scheduled for Monday June 13th at 7:30pm. At this time, all such events are anticipated to be held in the 2nd Floor Party Room.
About the Author: Tim Patricio
Park Tower Horizons
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