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

Board Members Present

Bob Pierce, President; Phoebe Helm, 1st Vice President; Sandra Goldberg, 2nd Vice President (via telephone); Nessim Hanna, Secretary

Board Members Absent

Herbert Hellauer, Treasurer

Management Representatives

Christina Epple, Property Manager; Mavis Mather, Assistant Manager

These are the minutes of the Board of Directors of the PARK TOWER CONDOMINIUM ASSOCIATION, an Illinois not-for-profit corporation.

Call to Order

Bob Pierce chaired and called this meeting to order at 6:36 pm.

Residents Comments Regarding the Agenda

Lorraine Meyer asked if the commercial rate is different from the residential rate and which rate the building is on. The Board stated that the residential rate is different from the commercial rate and further that the building is considered a commercial user as we use above 1300 megawatts.  The Board clarified that homeowner’s individual units are at the residential rate and are not impacted by the Board’s decisions regarding the common areas.

Gergor Hamilton asked that if electricity all comes from the same source, why different companies are reselling electricity to be competitive. The Board stated that what is happening in the electric market is similar to what happened when the telephone companies broke up.

Action Items

Electric Purchase Therefore, be it resolved that the Board of Directors does hereby approve the electric contract to Midwest Energy at the quote price of $0.0524 per kWh for the period of December 2006 through May 2008. Upon due motion by Phoebe Helm and seconded by Nessim Hanna, the Board voted to approve the electric contract to Midwest Energy at the quote price of $0.0524 per kWh for the period of December 2006 through May 2008.

Gas Purchase Therefore, be it resolved that the Board of Directors does hereby postpone the approval of the gas sales agreement for the purchase of 30% of the natural gas purchase for the September 2007 through March 2009 period at $0.925 per therm.

Upon due motion by Nessim Hanna and seconded by Phoebe Helm, the Board voted to postpone the approval of the purchase of 30% of the natural gas purchase for the September 2007 through March 2009 period at $0.925 per therm.

Adjournment

Upon due motion by Phoebe Helm and seconded by Nessim Hanna the meeting adjourned at 9:15 pm.

Bob Pierce, President

Phoebe Helm, 1st Vice President