BOARD OF DIRECTORS MEETING

Management Report and Agenda

Monday September 12, 2016 at 7:30PM

Party Room

OWNER FORUM – 7:30pm

15 minutes, 2 minutes per person

The Board and Management will address questions and feedback from Unit Owners.

OPEN SESSION – Call to Order

The meeting chair will call the meeting to order. Please be courteous – no audience participation is permitted.  If applicable, speakers will be recognized by the Meeting Chair.

Roll Call – Confirm Quorum

The meeting chair will confirm a quorum of Board Member is present. Board Members and representatives from Management will be introduced.

Committee Reports

Committees will be invited to deliver updates to the Board on business and activities.

Board Report: Board President Michael Parrie

The meeting chair may make comments or provide updates on Association business and activities or otherwise address the Board and Owners present.

Action Items – New Business

Closed Session Business

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

Minutes – Board Meeting August 8, 2016

Attached for Board Member review, are the proposed minutes from the Board Meeting held on Monday August 8, 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 August 8, 2016.”

Board Member Appointment to Fill Vacancy Due To Resignation

It has been reported Board Vice President George Pauley has resigned. The Board may appoint a Unit Owner to complete Mr. Pauley’s term through June of 2017. There is not a set procedure for making such an appointment. Members can nominate an Owner by way of motion.

If the Board choses to appoint a Unit Owner nominated for appointment to fill the term, a vote of at least 2/3rds of the remaining members would be needed. That is, 3 out of 4 of the current Board Members.

The resignation also leaves the position of Vice President open. The Board should also act to reassign that position, and others if necessary.

A sample motion for appointment follows: “I move the Board of Directors approves the appointment of Unit Owner ______________________ to the Board, to fill out the remainder of the term left open by the resignation of George Pauley.”

A sample motion for appointing the Vice President follows: “I move the Board of Directors appoints __________________ as Board Vice President.”

Proposed Amendments to Declaration

This action item is provided should the Board chose to discuss or take action related to the recommendations by the Ad-Hoc Commission which presented a report on possible amendments to the Declaration.

Possible actions at this time include setting a budget to process the necessary documentation (proposed amendments and signature pages for ownership vote) and ultimately recording any amendments that pass. Also, the Board could direct counsel to begin drafting the necessary documentation.

We also suggest the Board consider timing, and a date for at least one ownership meeting to give owners the opportunity to meet and discuss the proposed amendments.

Motions can be proposed based on discussion.

2016 Bad Debt

Following the audit of the 2015/2016 Financial Statements there were 4 uncollectible accounts management was monitoring for write-offs as Bad Debt. At the August 8th meeting, one account was approved for write off totaling $8,700.71. Since that time, a second account has sold and we propose the previous owners account balance of $18,358.70 be written off as bad debt.

The budget for Bad Debt this year is $60,000. With this write off the total for the year comes to $27,059.41.

A sample motion follows: “I move the Board of Directors approves a write-off in the amount of $18,358.70 for a prior Unit Owner’s account which is determined to be uncollectible due to the foreclosure and sale of the unit.”

Health Club Committee Request – Bathing Cap Policy

At the most recent Health Club Committee meeting, the Committee voted to recommend suspending the swimming cap policy. This was a policy put into effect by a past Board. Therefore such a policy should be formally voted on for any changes. Conditions are to be monitored by members and the staff, and should hair become an issue they will reassess the need for the rule next year.

A sample motion follows: ““I move the Board of Directors approves suspending the requirement for health club members and guests using the pool to wear swim caps.”

Entry Planters/Bollards

After discussing moving two planters to between columns adjacent to the lobby and circle drive, both our engineers and contractors we typically use, strongly cautioned us against doing so. Because of their weight and the means by which they drain, such an action could have unintended consequences and several maintenance problems with the aggregate surface.

a. Already, we delayed moving them because the weight requires a forklift, which would have to be rented. We were awaiting the landscaping seasons end as well as the seasonal sealing of the aggregate so we could empty and move them after it made the most sense. The problem is, this process would have to be repeated annually when we seal the aggregate – meaning we rent a forklift or empty the planters each year, which would be very impractical.

b. It was unanimous – allowing the planters to drain over the aggregate surface will be much more difficult to maintain than over the sidewalk, and could cause unwanted erosion and deterioration of the aggregate surface and sealant around the location. Repeatedly spray washing the drainage film and dirt that collects on the aggregate would not be healthy. AND this would be time consuming.

c. The aggregate topping is very thin in some spots adjacent to the columns and hugging the lobby. In some cases only a couple inches thick. The constant pressure from the weight of the planters could result in cracking or buckling over time (if not even in the short term) resulting in possible pitting and faster wear and deterioration.

Rather than move the planters, to achieve the same effect, we suggest the board might consider concrete bollards, embedded and sealed. We could hire our architects with WJE to develop a spec and bid out construction and installation. This would be a more favorable solution.

Texting Service

Last year the Board authorized experimental use of a subscriber based texting service for emergencies, notices and maintenance alerts, through Cheapest Texting. All together we presently have 238 subscribers.

A budget of $1800 was passed, however we are averaging approximately $60/mth, or $720/yr.

We would like to continue this program indefinitely. The feedback from users has been overwhelmingly positive. Our goal was 150 subscribers, and we have exceeded that. Given those two facts, we would like to continue this service and even consider upgrading to other topics, such as garage and health club alerts. We will explore the options and present them for future Board consideration. The service is inexpensive, we do not expect that any possible upgrade would exceed a rate of $1800/yr.

A sample motion follows: “I move the Board of Directors approves continue use of the subscriber based texting alert program through www.cheapesttexting.com, at a budgeted rate not to exceed $1800 per year.”

Construction Requests

Attached to the report for Board Member review are remodeling packets for the following Unit Owner construction projects:

1912 Unit remodeling and hard flooring installation

2015 Installing a dishwasher

3103 Hard flooring installation

4012/14 Combining units and remodeling

4201 Hard flooring installation

4306/4406 Hard flooring installation

A sample motion follows: “I move the Board of Directors approves the remodeling plans of units 1912, 2015, 3103, 4012/14, 4201 and 4306/4406 as submitted by the unit owner, 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

1.     Treasurer’s Report

Fund Balances End of July 2016

Operating Funds $739,126 (increase of $303,642 from June)

Reserve Funds $1,591,180 (decrease of $145,613 from June)

Total Cash and Investments $2,330,306 (increase of $158,029 from June)

July Income and Expenses

Total July Income: $459,082

Total July Expenses: $367,938

Income From Garage: $30,371

Contribution To Reserve: $122,742

Total Surplus or (Deficit): ($1,226)

2.     Management Report

a. Business and Activities

b. Monthly Activity Report

c. Recent Sales Activity

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 September 12, 2016 Board Meeting at _ _ PM.”

OWNER FORUM – 15 minutes, 2 minutes per person

Next Meeting Dates September 26th and October 10th