A signed copy of these and all minutes going back to the 1980’s are available from the Management Office upon request.

In Attendance

Bob Pierce, President; Phoebe Helm, 1st Vice President; Sandra Goldberg, 2ndVice President; Herbert Hellauer, Treasurer; Dan Harvey, Property Supervisor; Christina Epple, Property Manager; Mavis Mather, Assistant Manager Business Operations; Sara Kacheris, Administrative Assistant Resident Services

Call to Order at 6:30 pm

Comments Regarding Agenda (Board and Management responses in italics)

Laura Karl – Is the garage included in the building insurance policy or is it separate? Christina Epple stated that the garage is included in the building policy.

The annual mailing information did not include information on two year staggered terms for the Board members, is this no longer an issue? Bob Pierce stated that the two year terms did not need to be voted on as it had already been done.  The only thing left was to add the cross reference for the amendment to the original Declarations and Bylaws.

Sandra Goldberg – Since the letter asking for applications for the Board stated one year terms will we need to send out another mailing asking for candidates for two year terms? Christina Epple stated that another mailing was not required.

Vince DiFruscio – I would like to thank the Board for thinking outside of the box and bringing the garage under the same management as the building.

Sandra Goldberg – Regarding the elevator entrapment from April that was caused by holding the elevator doors, is there a way to fix the elevator doors so that they cannot be held open? Christina Epple stated that the doors were held open by a contractor working in the building, but that she would ask Otis if there was something that could be done.

Minutes April 9, 2007 Board Meeting

Upon due motion by Phoebe Helm and seconded by Herbert Hellauer, the Board voted unanimously to approve the minutes of the April 9, 2007 Board Meeting pending corrections to pages 5 and 10.

Tuck Point Repairs

Upon due motion by Sandra Goldberg and seconded by Herbert Hellauer, the Board voted unanimously to ratify the approval of the proposal submitted by Bruno’s Tuckpointing in the amount of $10,465.00.

Building Insurance

Upon due motion by Phoebe Helm and seconded by Herbert Hellauer, the Board voted unanimously to ratify the approval of the building insurance policy for 2007/08 as submitted by Mesirow Insurance in the amount of $192,400.

Unit 311 Replacement of Refrigerator and Stove

Upon due motion by Phoebe Helm and seconded by Sandra Goldberg, the Board voted unanimously to approve the purchase of a new stove and refrigerator for unit 311 not to exceed $1,700.00.

Health Club Committee Chair

Upon due motion by Phoebe Helm and seconded by Herbert Hellauer, the Board voted unanimously to approve Marty Fiesler as the new Health Club Committee Chair.

Draper and Kramer Contract Amendment

Upon due motion by Phoebe Helm and seconded by Herbert Hellauer, the Board voted to approve the management contract amendment as proposed by Draper and Kramer Inc. for the period of June 1, 2007 through February 28, 2010 at a cost of $1,600 per month through February 28, 2008, and a cost of $1,800 per month from March 1, 2008 through February 28, 2010.  Herbert Hellauer, Phoebe Helm, and Bob Pierce voted in favor; Sandra Goldberg abstained.  The motion passed.

Repairs to Sundeck Joint and Braces

Upon due motion by Sandra Goldberg and seconded by Herbert Hellauer the Board voted unanimously to approve both Solaris Roofing in the amount of $6,970, and Rightway Remodeling in the amount of $18,900 to perform repairs to the sundeck.

Treasurer’s Report (Herbert Hellauer)

Upon due motion by Sandra Goldberg and seconded by Phoebe Helm, the Board voted unanimously to approve the rollover of the CD at Builders Bank for 10 months in the amount of $95,000 at a rate of 5.21% with the proceeds of $4,990.46 deposited into the MAX SAFE account at Barrington Bank.

Upon due motion by Sandra Goldberg and seconded by Herbert Hellauer, the Board voted unanimously to approve the liquidation of the CD at Corus Bank with the proceeds deposited into the MAX SAFE account at Barrington Bank.

Upon due motion by Sandra Goldberg and seconded by Phoebe Helm, the Board voted unanimously to approve the rollover of the CD at Countrywide Bank for 12 months in the amount of $95,000 at a rate of 5.40% with the proceeds deposited into the MAX SAFE account at Barrington Bank.

Upon due motion by Sandra Goldberg and seconded by Herbert Hellauer, the Board voted unanimously to approve the rollover of the CD at Fireside Bank for 12 months in the amount of $95,000 at a rate of 5.10% with the proceeds in the amount of $4,961.64 deposited into the MAX SAFE account at Barrington Bank.

According to the March 31, 2007 Financial Statements the total operating funds were $125,901.32.   The total of the Max Safe account at Barrington Bank was $254,027.36.  The total of the replacement reserve funds was $1,509,370.58.   The total of all cash and investments is $1,635,271.90.

Management Report (Christina Epple)

The Property Managers Report is attached at the end of the minutes.

Board Report (Bob Pierce)

The Presidents Board Report is attached at the end of the minutes.

ASCO Update (Lorraine Meyers)

There was a meeting here on May 1, 2007 that was well attended with 20 to 25 residents of Park Tower in attendance.  There was a vote on installing parking meters on Sheridan Road from Foster up to the Breakers on both sides of the road.  ASCO voted against the parking meters except by the bus stops at Foster and Berwyn.  There has been progress with the development of the intercom system that would use electrical wires in apartments.  This system would plug into an outlet in the apartment and not require drilling in the walls, hallways, or ceiling.  The system will be going before the city council to be approved for the life safety requirements.  ASCO is still fighting the property management legislation for registration, certification, and state license requirements.  The transportation department is taking steps to set up an extra buss route that would run along Sheridan Road leaving Howard making three stops and then running express.  July 1st is the deadline for requesting money from the state for the CTA.  Please put pressure on your state representatives to vote in favor of giving money to the CTA.  The ASCO plantings will take place after May 30th.

Open Comments and Questions

Don Yuratovic – The employees of the building have been parking at the back dock where residents unload.  Please have the staff park along the fire lane so that the loading dock is free for resident usage.  Also I noticed that there were many people parked along the wall who were going to the park, can we get new signs posted saying it is a tow zone? Every June Lincoln towing provides new signs for that area.

Why do we need to have our vote notarized for allowing cats and not for the other amendments? The cat rule would be an amendment to the Declaration whereas the other votes are amendments to the Bylaws.

June Baker – Is it possible to install a door in the laundry room that would open automatically when you use your fob? Management will look into the cost of installing such a door.

Vince DiFruscio – Are our hiker employees checked regularly to make sure that they have a valid driver’s license? Our insurance company requires that we submit the employee driver’s license numbers in order to be covered.  We lost two hikers in the conversion because their licenses did not pass the requirements to be insured.

There was an article in the paper on Sunday about reducing lighting wattages and electricity costs.  Can we switch to florescent bulbs? The Board will consider developing a research committee for this topic.

aura Karl – Can the CD information be included in the resident packets for the Board Meeting? We will make sure that this information is included in the packets.

Tom Byrd – Can we have a notary present at the annual meeting for the votes on changing the Declarations? Sara Kacheris will be present to notarize votes for changing the Declarations.

Beverly Stormont – Will the building be doing anything for Memorial Day? The building does not have anything planned for Memorial Day.

Lynette Haiflich – We would like to thank management for helping with a problem that we had been having with the lease requirements. Christina stated that the Board will need to consider the obligation and requirements for leases past the one year mandatory lease term.

Beverly Stormont – Is unit 511 being sold and how much are we asking for it? The vote before the homeowners is whether they would like to sell it.

Lorraine Meyers – I love the new planters in the lobby; they are beautiful and fit in nicely.  I recently saw people putting holes in the front driveway, should we be concerned about this? They were taking coring samples to determine the condition of the front drive.  This was necessary to provide correct information to vendors for them to bid on the front drive project.

Julie Zhang – What is the current policy for cats in the building? New cats are not allowed in the building.  People were given time to register existing cats with the management office and no other cats are allowed.  In June there is a meeting to discuss the proposal to amend the Declarations to allow cats.  Each proxy is good for up to 11 months.

Hershey Chalmers – What if there is an owner who grandfathered their cat during registration and they choose to give the cat to another owner in the building, is the cat still grandfathered? The registration of the cats is tied to the unit not to the cat.

Vince DiFruscio – I would like to say that the sod in the front planter was a great idea.  It looks very good with the trees.

Approval Closed Session

Upon due motion by Sandra Goldberg and seconded by Herbert Hellauer the Board voted unanimously to suspend the May Board meeting to allow for an executive session of the Board of Directors to discuss personnel, litigation, and/or rule violations.

The meeting resumed at 8:20 pm.

Results Closed Session

Upon due motion by Sandra Goldberg and seconded by Herbert Hellauer the Board voted to approve the following: A. not discussed, B. deny request, C. deny request, D. deny request, E. approve expense not to exceed $5,000, F. no action.  Herbert Hellauer, Phoebe Helm, and Bob Pierce voted in favor; Sandra Goldberg opposed to C.  The motion passed.

Adjournment

Upon due motion by Sandra Goldberg and seconded by Herbert Hellauer the meeting adjourned at 8:23pm.

Bob Pierce, President

Phoebe Helm, 1st Vice President