BOARD OF DIRECTORS MEETING

Report and Agenda

Monday April 12, 2021  7:30pm

Via “ZOOM” Meetings Online 

6:00PM – CLOSED SESSION (Via ZOOM With PT Board)

The Board is scheduled to meet to discuss rule violations, Unit Owner account issues and personnel matters. 

7:30PM – OWNER FORUM – Via Zoom Chat              

ZOOM Meeting ID #830-7859-1453

ZOOM Meeting Link https://us02web.zoom.us/j/83078591453

ZOOM Conference #1-312-626-6799 

OWNER FORUM – Via Zoom Chat

The meeting chair, expected to be Board President Michael Parrie, will confirm a quorum of Board Members is present via ZOOM. 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. Lifting Fine Cap

This agenda item is for potential discussion and consideration by the Board, of the $1000 cap on fines. If the Board decides upon a new policy, a motion can be suggested at the meeting.

3. Support Animal Requests

Attached to the meeting report for Board review are two applications from Unit Owners for authorization to keep Support Animals in their units. Legal opinions from Association counsel are planned for discussion in Closed Session. 

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

4. Minutes – Board Meeting April 12, 2021

Attached to the meeting report for Board Member review, are the proposed minutes from the Board of Directors Meeting held on Monday April 12, 2021, as submitted by Timothy Patricio, Property Manager.

A sample motion: “I move the Park Tower Condo Board of Directors of the Park Tower Condo Association hereby approves the minutes from the Board Meeting held on Monday April 12, 2021.”

5. 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 update this regularly, and will present it for Board review and approval.

A sample motion: “I move the Park Tower Condo Board of Directors of the Park Tower Condo Association approves the 22.1 disclosure as drafted for April 2020.” 

6. Party Room Reopening Policy

The purpose of this item is for discussion of potential reopening of the Party Room, for limited use.

We suggest use begin being allowed now with a maximum capacity of 10 persons. Also, the current fee for rental is $150, however, with a capacity of only 10, we would suggest reducing the fee temporarily, perhaps $50. Finally, as the pandemic restrictions lift further, we would suggest Management be allowed to lift the capacity limit. With the coming “bridge to Phase 5” expected from the Governor, perhaps lifting the limit to 25 people, and the fee to $75. Then with Phase 5, perhaps 50 people and $100.

Once we reach an all clear, then we would suggest moving back to full capacity and full charge.

A sample motion follows: “I move the Board of Directors of the Park Tower Condo Association approves reopening of the Party Room for limited use, at a capacity of 10 persons, and a reduced rental fee of $50, and furthermore as state restrictions are limited we authorize management to continue to life the capacity limits and increase the fees however determined appropriate as the State of Illinois begins to pull back on pandemic related restrictions.” 

7. Weight Room Shelving

The Health Club Commission has requested funding for the installation of custom built shelving to hold loose equipment in the weight room. Attached for Board review are renderings provided by the Commission, and a bid from DEMCO to do the work as proposed, at a cost of $2872. This activity is not specifically budgeted so we would need Board approval to have it done.

Patrik advised that the team is capable of doing this work in house, however, it would be at the bottom of a very long list of activities and they would be unable to get to it for several months or even until next year.

A sample motion follows: “I move the Board of Directors approves a budget of $2872 for the installation of shelving in the weight room, as proposed by the Health Club Commission.”

8. Kitchen Exhaust Fan Project Phase 2

 This project is budgeted as a reserve expense for $78,000, to be completed this year. Phase 1 of this project (for replacement of the fan motor) was approved in February, at a cost of $4730, and has since been completed. This was split in phases because at a minimum we knew the motor required replacement, and once the fixture was opened up to access the motor, vendors were invited to investigate inside the unit. Attached are 3 bids for Phase 2 of this project (actually rebuilding the fan unit and housing), and the very good news is that the work needed is far less extensive than we anticipated:

AMS Mechanical             $19,900

Quality Mechanical         $18,290

WJ O’Neil                          $18,500

We propose moving forward with Quality Mechanical. A sample motion: “I move the Board of Directors of the Park Tower Condo Association approves to proceed with phase 2 of the Hallway Return Air Handler repair project, for rebuilding of the exhaust fan unit and housing by Quality Mechanical Inc., as proposed at a cost of $18,290.”

9. Window Washing Change Order

In response to requests from Unit Owners, and discussion in meeting forums, Management investigated the possibility of conducting a more aggressive cleaning of the exterior windows. Specifically, this is to address window corners and perimeters where a grime has accumulated which normal washing has been unable to successfully address.

Attached is the proposed change order to add the more aggressive cleaning process to the contract, at a cost of $10,725. Due to the timing, Management asked the contractor to move ahead with the work, consistent with past discussion. However, the Board should formally approve this change order since the additional work was not budgeted.

A sample motion follows: “I move the Board of Directors approves the change order from Corporate Cleaning Services for more aggressive cleaning of the exterior windows, as proposed at a cost of $10,275.”

10. Construction Requests

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

Unit   914            Bathroom Remodel

Unit 2204            Bathroom & Kitchen Remodel, Washer/Dryer Install

Unit 3401            Kitchen Remodel with Hard Flooring Install (DIY Project by Owner)

Unit 4405            General Remodel with Hard Flooring Install

Unit 5211            Bathroom Remodel

A sample motion follows: “I move the Board of Directors approves the remodeling plans of units 914, 2204, 3401, 4405 and 5211 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 

1. Treasurer’s Report

Attached to the Report for Board Review is the March 2021 Balance Sheet and Statement of Income & Expenses as reported by the Habitat Company.

Fund Balances End of March 2021

Operating assets totaled $1,351,938, and the Reserve cash and investments were $2,836,077 for a total of cash and investments of $4,188,015.

March 2021 Revenue and Expenses

Total Operating Revenue: $566,967

Total Operating Expenses: $397,419

Income (Loss) From Garage: $13,748

Contribution To Reserve: $146,508

Total Surplus: $36,788

2. Management Report

Business and Activities – Property Manager Tim Patricio will review current business and activities of interest. The Monthly Activity Report is attached to the meeting report for Board review.

Engineer’s Report – Property Manager Tim Patricio will review items of interest from Maintenance.

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 10, 2021 Board Meeting at ____PM.” 

OWNER FORUM – Via ZOOM Chat

The Board of Directors and Management will welcome and address feedback and questions from Unit Owners via ZOOM chat. 

The next Board Meetings are scheduled for Monday May 24^th and June 14^th (following the PTCA 2021 Annual Meeting). All meetings will continue to be held online via ZOOM. Instructions to join the meeting will be posted in advance on our bulletin boards, and the website at www.ptcondo.com.