NOTE: The Board Meeting Round Up is a review of business conducted by the Board for Unit Owners’ convenience. This is neither intended to be nor should be considered an actual substitute for approved minutes. Minutes for Board meetings are typically approved at the next scheduled Board Meeting. Copies are placed in the bin across from the Cleaners/Receiving Room, and posted online on the DK Condo Park Tower Website, along with other useful forms and documents. The “ptcondo” website Library is currently under construction and is expected to contain minutes for use access once it is built.

PARK TOWER CONDOMINIUM ASSOCIATION

BOARD OF DIRECTORS MEETING

Monday September 8, 2014 at 7:30PM – Party Room 2nd Floor

6:30PM: CLOSED SESSION

Held for discussion of litigation, personnel, and/or violations of rules and regulations (Condominium Act – Sec. 18, a. 9)

7:40PM: OWNERS FORUM

The Board and Management addressed questions and comments from Unit Owners.15 minutes – 2 minutes per person

7:55 PM: OPEN SESSION

The Board Meeting was formally called to order by the Board President, George Pauley who confirmed there was a quorum with all members present.  The Board and Management personnel present introduced themselves: Tom Wartowski, 2nd Vice President, Michael Parrie, 1st Vice President, Betty Terry-Lundy, Secretary, Dave Nicosia, Treasurer, George Pauley, Board President, Dave Barnhart, DK Condo Property Supervisor, Tim Patricio, DK Condo Property Manager, Mavis Mather DK Condo Assistant Manager

COMMITTEE REPORTS

NEWS AND SOCIAL MEDIA – Bob Shamo, Committee Chair, reported on the launch of the “ptcondo” web site, and indicated that the next Committee Meeting will be held on Sept. 23rd. The meeting will be held to discuss articles for the next issue of the buildings “Tower Talk” newsletter. He the Committee welcomes the participation of anyone either having suggestions, interested in writing articles or providing photography. Such owners and residents should contact the Committee or office.

HEALTH CLUB – Ken Anderson, Committee Chair, reported on the first meeting of the re-formed Committee. He shared that the Committee primarily focused on its goals and what the members hoped to accomplish. He said they would be focusing on maintenance suggestions, improvements and sharpening the rules for membership and use of the Health Club. He mentioned the Committee is specifically interested in making recommendations to update the equipment and facilities as a way to improve building value and make use of the space a better experience for members. He said the next meeting was scheduled for October 8th at 7pm in the Party Room and welcomed Health Club Members to join the Committee for the discussion.

BUDGET AND FINANCE – Paul Groeninger, Committee Chair, was asked about the upcoming meeting, scheduled for September 23rd at 4:30pm in the Party Room. He said the Committee expects to get the first draft of the proposed budget and to schedules meetings to review it over the next several months.

Board Report: George Pauley

The Board President mentioned he was pleasantly surprised by the new website, “ptcondo”, and discussed his hope for it to help business and communications move in a positive direction. He talked about the departure of Assistant Manager Jacquie Smith and the retirement of the building on site plumber Frank Naughton. He said he believed there was a connection between the negativity of the past election, the content and postings on the “park tower owners” and the “park tower us” websites, and postings by Board Members which may make the staff very uncomfortable in their positions. He also suggested it may be difficult to attract good replacements since candidates can “Google” the building, see all the negativity, and make the logical choice not to get involved. He also suggested that because the Management Company DK Condo has over 100 sites in Chicago, that current employees uncomfortable in their position may have an easier time moving on then to continue being exposed to the negativity.  For example, he discussed postings alleging that he is getting work done for free by a vendor the building uses for the riser projects and encouraged owners to visit the sites, parktowerowners.com and parktower.us, read the postings, and make up their own minds. He said it is bad enough for him, but he can imagine being employee working here and not wanting the nonsense tarnishing their reputations and careers. He said with the advent of the new site, and the discussion forums protected from public view, that he hoped this would change. He encouraged the administrators of the other sites to think about this and consider taking them down.

ACTIONS TAKEN BY THE BOARD

Old Business

Updated Charter for News and Social Media Committee

After a motion by Dave Nicosia, seconded by Michael Parrie, the Board unanimously passed a resolution approving the charter for the NSM Committee, as revised by the Committee with changes proposed by Board Member Tom Wartowski.

New Business

Motions from Closed Session

After a motion by Tom Wartowski, seconded by Michael Parrie, the Board unanimously passed a resolution agreeing to a written request by a Unit Owner to reduce the move in fee for an additional occupant to $95 plus the cost of reserved elevator time.

Ad-Hoc Committee for Rules Review

After a motion by Dave Nicosia, seconded by Michael Parrie, the Board unanimously passed a resolution re-forming the Ad-hoc Committee to review the Rules and Regulations, appointing former members Agata Drygas, Unit 1806, Maggie Burnes, Unit 4114, and Carlos Vargas, Unit 4914, calling for additional volunteers and naming Michael Parrie as Board Liaison.

Audit Proposals

After a motion by Dave Nicosia, seconded by George Pauley, the Board unanimously passed a resolution approving a 5 year contract with Picker & Associates to perform the annual audits of the Association financial statements at a cost of $4,700 for years 1-3 and $5,000 for years 4&5; in addition, they will conduct tabulation of the annual meeting election proxies and ballots for $400.

Triennial Tax Reassessment

After a motion by Dave Nicosia, seconded by Betty Terry-Lundy, the Board unanimously passed a resolution approving a contract with tax attorney Terrence Kennedy to perform an appeal of the 2015 Triennial Tax Reassessment for a contingency fee of 10% of the total savings capped at $18,500; Management was asked to attempt to negotiate a reduction in the cap.

No Admit Policy

Board Members and Management discussed the possibility of changing the No-Admit policy for units. Board Member Betty Terry-Lundy proposed that with the exception of emergencies Management should have written permission for any other purpose to enter a unit. It was discussed that currently all units are considered “No-Admit”. To enter for any other purpose than an emergency the staff must have proper purpose and provide reasonable written notice. Currently Park Tower owners and residents have the option of being a “red-tag” which means the staff would seek permission either in writing or in person before entering for non-emergencies.

No motion was made on the matter.

Construction Requests

After a motion by Michael Parrie, seconded by Dave Nicosia, the Board unanimously passed a resolution approving construction and remodeling plans presented by Unit 303, Unit 2015, Unit 2606, Unit 4111, and Unit 4906.

REPORTS

Treasurer’s Report: David Nicosia

JULY FINANCIAL ACTIVITY (Accrual Based)

Total Revenue = $457,073

Total Operating Expenses = $327,004

Net Income from Garage Operations = $21,994

Net Income = $156,604

Reserve Contribution = $113,108

Net Surplus/(Deficit) = $43,496

Total Reserve Expenses = $33,549

JULY BANK ACTIVITY (Actual EOM Balances)

Operating Account Balance = $307,547.54

(Decrease of 65,139.48 from June.)

Reserve Account Balance = $1,782,170.75

(Increase of $25,095.94 from June.)

Total Cash and Investments = $2,089,718.29

Management Report: Tim Patricio

Property Manager Tim Patricio updated the Board and Owners present on the status of the Plaza/Driveway Project, discussed the possible one year pause in Riser Projects to address the low zone drain and riser loop, and announced that a candidate for the Assistant Manager’s position vacated by Jacquie Smith, had accepted an offer for employment with DK Condo at Park Tower. Marlon Dacres is expected to begin training on Monday September 29th. The Property Manager also reviewed the Monthly Activity Report and Sales and Leasing Report for the month of July.

7:55 PM: ADJOURNMENT

9:11PM: OWNERS FORUM

The Board and Management addressed questions and comments from Unit Owners.