Meeting Location

2nd Floor Party Room

Call to Order

9:01am

Members Present

Michael Parrie, Sheldon Atovsky, Monique Fouant, Lloyd Allison, Angie Eden

Management

Shruti Kumar, Property Supervisor; Timothy Patricio, General Manager

Open Session

Board President Michael Parrie called the meeting to order and thanked Budget & Finance Commission members Jean Shamo, Becky Rossof and Paul Groeninger for attending to contribute to the review.

Minutes November 9, 2024

After a motion by Sheldon Atovsky, seconded by Lloyd Allison, the Board of Directors of the Park Tower Condo Association voted 4 to 1 in favor of a resolution to approve the minutes of the Board Meeting held on Saturday November 9, 2024. Angie Eden abstained.

Review of Proposed Budget

Michael Parrie then turned leading of discussion over to Board Treasurer Lloyd Allison, Board Treasurer, who opened and asked if there were any questions from the past meeting. He then explained the goal of the meeting was to review revenue and the reserve expense categories, and consider an adjustment to the assessments.

Discussion and Questions

Questions and concerns were discussed as needed with members and management. Each member was given the opportunity to raise points or questions for discussion of any budget line item. Management took notes for any editing, gathering information and direction for follow up.

Break

Discussion paused by direction of Board President Michael Parrie for a break at 10:30am, and reconvened at 10:42am

Discussion and Questions

Discussion and questions continued.

Assessment Adjustment

After a motion by Lloyd Allison, seconded by Sheldon Atovsky, the Board of Directors of the Park Tower Condo Association voted unanimously in favor of a resolution to consider adjustment of the assessments by 3.95% based on the best current information available.

It was noted that General Manager Tim Patricio would review notes from discussion and make adjustments and present any possible changes to the Board by the December 9, 2024 Board Meeting, in time for mailing the proposed budget.

Adjournment

There being no further matters for Open Session consideration, after a motion by Lloyd Allison, seconded by Monique Fouant, the Board of Directors of the Park Tower Condo Association voted unanimously in favor of a resolution to adjourn the November 16, 2024 Board Meeting at 12:27am.

Signed (as seen on pdf of official minutes for this meeting, upper right corner of these minutes).

Michael Parrie, Board President

Sheldon Atovsky, Board Secretary