PARK TOWER CONDOMINIUM ASSOCIATION
BOARD OF DIRECTORS MEETING
Monday January 12, 2015 at 7:30PM

Party Room 2nd Floor

CLOSED SESSION – 6:30PM

Held by the Board to discuss litigation, personnel matters, and/or violations of rules and regulations (Condominium Act – Sec. 18, a. 9).

OWNERS FORUM – 7:30PM

The Board of Directors and Management responded to questions and comments from owners present.

OPEN SESSION – 7:45PM

Board Vice President Michael Parrie called the meeting to order at 7:45PM and confirmed a quorum was present. Board President George Pauley was present by speakerphone. Board Secretary Betty Terry-Lundy was absent. Present at the meeting were Tom Wartowski, 2nd Vice President, Michael Parrie, Vice President, and Dave Nicosia, Treasurer. From Management DK Condo, Inc., Dave Barnhart, Property Supervisor, Tim Patricio, Property Manager and Mavis Mather Assistant Manager were present.

Committee Reports

No Committee Reports were presented. News and Social Media Committee Chair indicated he forwarded a report via e-mail to the Board, but had nothing to report on directly at the meeting.

Board Report

Board President George Pauley indicated he had no report at this time.

Action Items – New Business

Motions from Closed Session – Michael Parrie reported that no business from Closed Session required resolution.

Minutes December 22, 2014 –  Dave Nicosia moved, Tom Wartowski seconded, and the Board voted unanimously in favor of a resolution approving the minutes from the Board Meeting held on December 22, 2014, submitted by Mavis Mather, Assistant Manager.

Elevator #9 Hydraulic Cylinder – Dave Nicosia moved, Tom Wartowski seconded, and after discussion the Board voted unanimously to accept the revised proposal from Otis Elevator to replace the hydraulic cylinder in elevator #9, in the amount of $34,019.

Receiving Room Lease -Tom Wartowski moved, Dave Nicosia seconded and the Board voted unanimously to propose a 5 year renewal of the lease of the receiving room with Park Tower Cleaners, at an increase in compensation for receiving services of $1200 per year, beginning August 1, 2015. Further, should the Lessee accept the proposed terms, the Board of Directors approves execution of the lease.

Reports

Treasurer’s Report – Board Treasurer David Nicosia reported on the November financial data – at the end of the month, operating funds stood at $256,434.40; reserve funds stood at $1,688,062.05.

Management Report – Property Manager Tim Patricio  reviewed the activity report for the month, and recent sales and lease data.

Adjournment

There being no further business before the Board, Tom Wartowski moved, Michael Parrie seconded and the Board of Directors voted unanimously to adjourn the January 12, 2015 Board Meeting at 8pm.

OWNERS FORUM – 8PM

The Board of Directors and Management responded to questions and comments from owners present.

NOTE: The “Post Meeting Round Up” is neither official meeting minutes, nor are they intended as a replacement of actual meeting minutes for Board Meetings. The minutes of any given meeting are typically not available until after they are reviewed and approved by the Board, which usually occurs at the next scheduled meeting. Rather, the round up is a review of the activity and business considered at the meeting as observed by management, provided as a courtesy and convenience to Owners.