BOARD OF DIRECTORS MEETING AGENDA

Monday November 11th, 2019, 7:30pm

2^nd Floor Party Room

6:30PM – CLOSED SESSION (Management Office)

7:30PM – 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.

Board Report

The Board President may give a report on current Association business and activities of interest.

Action Items

1. Closed Session Business

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

2. Minutes – Board Meeting October 14, 2019

Attached to the report for Board Member review, are the proposed minutes from the Board of Directors Meeting held on Monday October 14, 2019, 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 October 14, 2019.”

3. Minutes – Board Meeting November 2, 2019

Attached to the report for Board Member review, are the proposed minutes from the Board of Directors Meeting held on Saturday November 2, 2019, 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 Saturday November 2, 2019.” 

4. 22.1 Disclosure

Consistent with FirstService Residential standard operating procedure, the standard 22.1 Disclosure the office distributes for resales, is to be approved by the Board for distribution. The present draft of the document for November 2019, is attached for Board Members to review.

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 revise this monthly, and will present it for Board approval.

A sample motion: “I move the Board of Directors approves the 22.1 disclosure as drafted for November 2019.”

5. Service Animal Request

Attached to the meeting report for Board review is a request from a Unit Owner for authorization to keep a Service Animal in the unit, as well as a written opinion in response from the Association’s legal counsel. 

A sample motion: “I move the Board of Directors approves [or] denies a Unit Owner’s request for a service animal.” 

6. Community Management Consultant Fee

It is proposed to authorize a budget of $5000 for a consultant to assist with discussion, research and recommendations for the Board’s search for a Managing Agent for Park Tower, including the production of a Request for Proposal, review and feedback on the response, and assistance and guidance for the interviews of potential candidates. 

A sample motion: “I move the Board of Directors approves an expense up to $5000, to assist with the search for a Managing Agent for Park Tower.” 

7. Garage Garbage Lift Modernization

Attached to the report for Board review, are the findings of VDA, hired to help work out the OTIS bidding and specifications for the Garage Garbage Lift modernization effort. You will also find the revised bid from OTIS, which totals $130,460 (inclusive of the construction work necessary by the subcontractor RZ Construction).

Members will also find follow up from VDA, in response to our questions about whether it would be worth it to put the project out to bed. VDA feels their proposal based on the scope and pricing is reasonable. To develop the bid package necessary would be about $10,000. It is not likely a competitive bid would result in savings enough to make a difference.

As a result of their effort to refine the scope and negotiate with OTIS, we have realized savings of about $13,385, which more than makes up the difference of their fee of $3,760.

There are two alternates – the installation of a lowering unit and diamond plate flooring, $7,700 total, which we believe is vital for long term wear and tear. VDA notes they believe the quotes are reasonable for the scope. This would bring the total proposed base project cost to $138,160.

Finally, we suggest a 10% provision for unknown conditions and a follow up VDA visit. Unknown conditions are possible once they complete the demo. If so, it would be wise for VDA to give an opinion. ALSO, we suggest VDA inspect the elevator once the job is done. This 10% provision would be approximately $13,816.

A sample motion: “I move the Board of Directors approves an expense not to exceed $152,000 for modernization of the garage garbage lift, as proposed by OTIS Elevator Company.”

8. Unit 511

At the request of the Board, and attached for member review, Management and the engineers created a budget for remodeling of Unit 511. The goal of this plan was to update the fixtures and bring the Unit into a reasonably contemporary and livable condition for the new Engineer, who intends to move in following the work.

We request the Board refine the proposed improvements, after which our team can put an RFP out for formal bidding. Proposals would then be returned to the Board for approval.

This is not a budgeted project.

A sample motion: “I move the Board of Directors approves the plan for remodeling of Unit 511, as presented by Management [with the following changes____________,] and directs it be put out for bid.”

9. Garage Power Wash

Attached to the report for Board review are bids, per wash, for the seasonal power washing. The incumbent is Skyline Building Services, Inc., who’ve been providing this service for over a decade.

Intercity Maintenance                  $7,000

Skyline Building Services              $4,675

Tricon Group                                 $7,265

Our incumbent, Skyline, also suggested a 6 year contract with under a 2% increase annually – working out to $100 per wash per year. We’d suggest agreeing to the 6 year arrangement, as that is a reasonable increase considering inflation.

A sample motion: “I move the Board of Directors approves a 6 year service contract as proposed with Skyline Building Services for seasonal garage surface cleaning, at a rate of $4,675 per wash in 2020, and not to exceed an increase of $100 per wash per year for the life of the contract.” 

11. Construction Requests

Attached to the report for Board Member review are the remodeling packets for Units 3005, 3608, 5211 and 5310.

3005 – Bathroom remodel

3608 – Bathroom/kitchen remodel and Washer/Dryer install

5211 – Bathroom remodel

5310 – Kitchen remodel

A sample motion follows: “I move the Board of Directors approves the remodeling plans of units 3005, 3608, 5211 and 5310, 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

1. Treasurer’s Report

Board Treasurer Jean Shamo is expected to review fund balances, and a summary of revenue and expenses for the most recent reporting period.

Fund Balances End of September 2019

Operating Funds $555,280 (increase of $2,163 from prior month)

Reserve Funds $2,217,566 (increase of $113,813 from prior month)

Total Cash and Investments $2,772,845 (increase of $115,975 from prior month)

September 2019 Revenue and Expenses

Total Operating Revenue: $533,925

Total Operating Expenses: $354,183

Income From Garage: $19,513

Contribution To Reserve: $144,975

Total Surplus: $54,280

2. Management Report

Property Manager Timothy Patricio is expected to review activity and current business of interest, and the most recent unit sales.

ADJOURNMENT

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

A sample motion: “I move the Board of Directors adjourns the November 11, 2019 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 Saturday November 16^th at 9am, and Mondays November 25^th and December 9^th at 7:30pm. All meetings in the 2^nd Floor Party Room unless otherwise posted.