In Attendance 

Laura Cossa, 1 ^st Vice President; Carlos Vargas, 2 ^nd Vice President; Betty Terry-Lundy, Secretary; David Nicosia, Treasurer; Tim Patricio, Property Manager; Mavis Mather, Assistant ManagerBusiness Operations; David Barnhart, PropertySupervisor

Absent        

George Pauley, President

Call to Order at 7:42 pm

Motions from Closed Session

Upon due motion by Betty Terry-Lundy and seconded by Carlos Vargas, the Board voted unanimously to ratify the approval of the decisions made in closed session.

Minutes Meeting May 12, 2013
Upon due motion by Laura Cossa and seconded by Betty Terry-Lundy, the Board voted unanimously to approve the minutes from the May 12, 2013 Board Meeting.

Party Room Flooring

Upon due motion by David Nicosia and seconded by Laura Cossa, the Board voted to ratify the purchase for the materials for the replacement of the party room floor in the amount of $10,500.00. Laura Cossa, Carlos Vargas, and David Nicosia voted in favor; Betty Terry-Lundy voted against; the motion passed.

Request to Review Documents
Upon due motion by Betty Terry-Lundy and seconded by Laura Cossa, the Board voted unanimousl to deny the written request to receive Association recordings.

Home Improvement Committee (Scott Schmidtke)

Representatives from WJE came and had a presentation with the Committee members regarding the proposed front drive and terrazzo plans. There are still some questions regarding the railings, adding additional electric outlets for the holiday lighting, and sprinklers in the proposed planters that they will be addressing prior to the completion of the plans. Once the plans are completed, there will be a meeting with the Board, Committee, and Home Owners to discuss the proposed improvements and after that we will go out to bid on this project.

New Committee

Tabled

Construction Requests

Upon due motion by Carlos Vargas and seconded by Laura Cossa, the Board voted unanimously to approve the remodeling of units 2809, 3411, and 5211, as submitted by the 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.

Treasurers Report (David Nicosia)

As of April 30, 2013 the total operating cash was $154,495.28. The total of all operating reserves was $50,977.45. The total of all operating cash and investments was $205,472.73. The total of the Barrington Bank Max Safe reserve account was $591 ,543.49. The total of all replacement reserve investments was $451 ,372.30. The total of all replacement reserve funds was $1 ,042,915.79. The total of all cash and investments was $1248,388.52.

Upon due motion by David Nicosia and seconded by Laura Cossa, the Board voted unanimously to approve the CD renewal of a reserve CD at International Bank of Chicago for 18 months in the amount of $85,000.00 at a rate of 1.000%.

Upon due motion by David Nicosia and seconded by Laura Cossa, the Board voted unanimously to approve the CD reneal of a reserve CD at International Bank of Chicago for 18 months in the amount of $157,771.77 at a rate of 1.000%.

Management Report (Tim Patricio)

Window washing is due to begin next week weather permitting. Similarly to in the past, they will begin on the ’01 tier and continue around the building counter clockwise. If the weather cooperates, we anticipate that the washing will be completed by the end of the week.

On June 25th we will be hosting the Chicago Fire Department as they preform another Fire Drill in our building. This is for the Fire Department to practice their response actions and use of communication equipment. You may see many fire trucks and personnel within the building, but this is only a drill. We will be issuing notices to all residents about the timing of this drill. Closer to the date it will occur.

On Saturday July 20th at 1 lam, we will be hosting another fire safety seminar with representatives of the Chicago Fire Department. We are hoping to be able to hold this outside weather permitting.

On Wednesday July 10th Kelly Cassidy, our state representative, will be holding a town hall meeting in our party room. We encourage residents to attend and ask any questions.

The July 4th party will be held on Thursday July 4th from 5:30pm to 8:30pm. Residents can sign-up with the doorman. Guest passes will be sold in the management office for $10.00 per pass in advance or $15.00 at the door.

Adjournment

Upon due motion by Laura Cossa and seconded by Betty Terry-Lundy, the meeting adjourned at 8:09 pm.

Signed (as seen on pdf, clickable at upper right corner of these minutes)

George Pauley, President (7/18/12)

Betty Terry-Lundy, Secretary (7/18/13)