PARK TOWER CONDOMINIUM ASSOCIATION

BOARD OF DIRECTORS MEETING

Monday October 27, 2014

6:30PM: CLOSED SESSION

The Board Discussed pending litigation, personnel, and violations of rules and regulations (Condominium Act – Sec. 18, a. 9).

7:30PM: OWNERS FORUM

The Board and Management addressed questions and feedback from Unit Owners present.

7:50 PM: OPEN SESSION – Call to Order

Roll Call – Confirm Quorum

The Board President verified a quorum was present:

George Pauley, Board President; David Nicosia, Board Treasurer; Betty Terry-Lundy, Board Secretary; Thomas Wartowski, Board Second Vice President

Also present from DK Condo, Inc., Timothy Patricio, Property Manager; Mavis Mather, Assistant Manager

Not present, Michael Parrie, Board Vice President. George Pauley noted that Michael Parrie was not present due to a work obligation.

Committee Reports

Budget & Finance: Committee Member Jean Shamo reported the next two scheduled Committee Meetings have been cancelled – Wednesday Oct. 29th and Wednesday Nov. 5th – as the Committee awaits the reports from Reserve Advisors. Property Manager Timothy Patricio reported he just received an advance copy of the Reserve Study and is awaiting 11 copies for the Board and Committee.

News and Social Media: Board Liaison David Nicosia reported that review of the draft of TowerTalk was about ready to go to print and should be distributed at week end or early next week.

Rules and Regs Review: Committee Member Carlos Vargas reported the Committee was putting the final touches on the Construction Packet and was going page by page in the rules addressing any issues needing attention.

Action Items – Old Business

Budget and Finance Committee Recommendation – David Nicosia moved, Tom Wartowski seconded, and after discussion, the Board unanimously passed a resolution to rename the “Operating Reserve” and to begin referring to it as the “Operating Contingency” based on a recommendation by the Association’s auditing firm Picker and Associates and the B&F Committee.

Action Items – New Business

Minutes October 13, 2014 – Betty Terry-Lundy moved, David Nicosia seconded and the Board unanimously passed a resolution approving the minutes of the Board Meeting held on Monday October 13th.

Boiler Maintenance Contract –  Tom Wartowski moved, George Pauley seconded and after discussion the Board unanimously passed a resolution, approving a 3 year boiler contract with Oak Brook Mechanical for $10,530 per year, amended with the contingency it includes a 1 year warranty on parts and labor, confirmation the preferred hourly rate is at or below the next closest competitor, and that the preferred rate is good 24/7.

Chiller Maintenance Contract – David Nicosia moved, Thomas Wartowski seconded and after discussion the Board unanimously passed a resolution approving the chiller maintenance contract with Johnson Controls at $17,965 1st year, for a 5 year term with a locked 2% annual increase.

Chemical Contract – David Nicosia moved, George Pauley seconded and after discussion the Board unanimously passed a resolution approving a contract with HOH Water Technology to provide the buildings pool and HVAC chemicals for the amount of $11,280 per year locked for 3 years.

Metal Maintenance Contract – Dave Nicosia moved, George Pauley seconded and after discussion the Board unanimously passed a resolution approving a contract with Chicago Metal Maintenance to maintain the entry metal surfaces and columns for the amount of $16,500 annually locked for 3 years.

Life Safety Testing – David Nicosia moved, Betty Terry-Lundy seconded and after discussion the Board unanimously passed a resolution approving a contract with Siemens Industry to conduct the annual inspection of the fire panel and elevator recall system for an amount of $6,674 annually, for 3 years with a 2% increase each year.

AED Training Contract – Betty Terry-Lundy moved, David Nicosia seconded and after discussion the Board unanimously passed a resolution authorizing a contract with Turnkey Training to conduct AED training classes with the staff for the amount of $500 per class, a total of $1500 for our employees.

Commercial Cooling Tower – Thomas Wartowski moved, Betty Terry-Lundy seconded and after discussion the Board unanimously passed a resolution authorizing a budget of $3500 to purchase a variable speed drive for the Commercial Cooling Tower, to be installed in-house.

Construction Requests– Dave Nicosia moved, Tom Wartowski seconded and after discussion the Board unanimously passed a resolution approving the construction requests presented by Units 1909, 2104, 2412 and 5112.

Management Report

Property Manager Timothy Patricio discussed the completed Reserve Study and the progress on the exterior project.

Approval to Adjourn

The Board of Directors unanimously approved a resolution to adjourn the October 27, 2014 Board Meeting at 8:23pm.

8:23PM: OWNERS FORUM

The Board and Management addressed questions and feedback from Unit Owners present.

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NOTE: The Board Meeting Round Up is a review of business conducted by the Board for Unit Owners’ convenience. This is neither intended to be nor should be considered an actual substitute for approved minutes. Minutes for Board meetings are typically approved at the next scheduled Board Meeting. Copies are placed in the bin across from the Cleaners/Receiving Room, and posted online on the DK Condo Park Tower Website, along with other useful forms and documents. The “ptcondo” website Library is currently under construction and is expected to contain minutes for use access once it is built.