Post Meeting Roundup Jan. 28th
February 1, 2019
BOARD OF DIRECTORS MEETING
Roundup Report
Monday January 28, 2019 7:30PM
2nd Floor Party Room
6:30PM – Closed Session (Held by Board in Management Office)
7:30PM – OWNER FORUM – 15 minutes, 2 minutes per person
The Board and Management addressed feedback and questions from Unit Owners.
OPEN SESSION – Call to Order
The meeting chair, Board President Michael Parrie called the meeting to order at 7:55pm.
Roll Call – Confirm Quorum
The meeting chair confirmed a quorum of Board Members were present. Present from the Board was Board President Michael Parrie, 2nd Vice President Cheryl Ronnett, Treasurer Jean Shamo, and Secretary Kenneth Anderson. Member and 1st Vice President Monique Fouant was present via speakerphone.
Present from management was Property Manager Timothy Patricio, Assistant Manager Tricia Bulaclac and Assistant Manager Christopher Rayburn.
Board Report
The current operator of Park Tower Market has been planning to leave and will exit shortly. The Board recognizes a grocery store is a valuable amenity it wishes to keep for all owners and residents who enjoy the convenience on site in unit 14C in our mall.
During the residents’ forum on August 1, 2018, residents had suggested the Board look into other market operators, and specifically named Go Grocer. The Board took seriously the suggestion and did research. In fact, Board Secretary Ken Anderson visited Go Grocer locations at 2930 N. Sheridan Road, 3930 N. Sheridan Road, and 4250 N. Marine Drive. He described the grocery stores as being clean and bright, aisles of well-stocked shelves, nothing being out-of-date, and the largest store even having a small coffee shop. He saw fresh fruit and vegetables, frozen foods, dairy, ice cream, beer and wine, snacks, breads, a wide variety of canned goods and household items, pre-packaged sandwiches, wraps, salads, and sushi trays, and a few packages of hamburger meat and small steaks. Ken stated the prices seemed reasonable and within the range you would expect in a small outlet.
With the assistance of Management, the Board has negotiated the intent for Go Grocer to take possession of the market space under a lease. The Board has responsibly negotiated for more income per square foot from Go Grocer, in comparison to the current operator, to cover the majority of the unit’s assessment and property tax obligation. Tonight, the Board will vote in open session on a letter of intent. More details will be shared about the transition as they become finalized. You may check out Go Grocer’s website to see what they are about at www.gogrocerchicago.com. Overall, the Board is thrilled to be considering this reputable grocery operator to serve the market space as a continued amenity for all owners and residents of Park Tower.
Additional Agenda Item
After a motion by Cheryl Ronnett, seconded by Jean Shamo, the Board of Directors voted unanimously in favor of a resolution to add Action Item #8 to the Agenda, for consideration of a Unit Owners request for approval of support animals.
Action Items – New Business
- Closed Session Business
After a motion by Michael Parrie, seconded by Cheryl Ronnett, the Board of Directors voted unanimously in favor of a resolution to fine 16 unit owners $100 for the first month, to double thereafter for each subsequent month, up to the maximum fine of $1,000, for not providing adequate proof of insurance.
After a motion by Michael Parrie, seconded by Jean Shamo, the Board of Directors voted unanimously in favor of a resolution to fine 2 unit owners $50 for the first month, to double thereafter for each subsequent month, up to the maximum fine of $200, for not attending the new residents’ meeting.
After a motion by Michael Parrie, seconded by Kenneth Anderson, the Board of Directors voted unanimously in favor of a resolution to fine the Unit Owner in case #12.30.18, $1,000 for a short-term rental violation.
After a motion by Michael Parrie, seconded by Cheryl Ronnett, the Board of Directors voted unanimously in favor of a resolution to fine the Unit Owner in case #12.35.18, $350 for an unscheduled move, plus any other move out fees or charges that are relevant, $100 for use threatening language against another resident, and $50 for obstruction of the common areas.
After a motion by Michael Parrie, seconded by Kenneth Anderson, the Board of Directors voted unanimously in favor of a resolution to approve a letter of intent with Go Grocer, with base contract terms as discussed and negotiated in Closed Session for the leasing of unit 14C on the mall premises for the purpose of sale of groceries, alcohol, café, and related products, to be further defined in a lease, and the term of the lease shall be 10 years, with two 5-year lease extensions, and the base rent shall be $11.00 per square foot for the first year, $11.75 per square foot for the second year, $12.50 per square foot for the third year, and then increases at 3% each subsequent year, and the Board shall have input on signage, and other specific terms and conditions to be negotiated with a lease contract to be drafted and considered at a later date.
- Minutes – Board Meeting January 14, 2019
After a motion by Kenneth Anderson, Seconded by Jean Shamo, the Board of Directors voted unanimously in favor of a resolution to approve the minutes from the Board Meeting held on Monday January 14, 2019.
Click Here to review or download the approved minutes.
- Minutes – Special Unit Owner Meeting to Review the Budget January 14, 2019
After a motion by Kenneth Anderson, Seconded by Cheryl Ronnett, the Board of Directors voted unanimously in favor of a resolution to approve the minutes from the Special Meeting of the Unit Owners to review the proposed Park Tower Condo Association budget for the 2019/2020 fiscal year, held on Monday January 14, 2019.
Click Here to review or download the approved minutes.
- PTCA Fiscal Year 2019/2020 Budget
After a motion by Jean Shamo, seconded by Cheryl Ronnett, and discussion, the Board of Directors voted unanimously in favor of a resolution to adopt the budget as proposed and presented to Unit Owners for the fiscal year starting March 1st 2019 and ending February 29th 2020, including a 3% increase in assessments, a 3.775% increase in total expenses, and a projected annual reserve contribution of $1,739,700.
Click Here for a copy of the approved budget.
- Commercial and Laundry Room Bathrooms
After a motion by Jean Shamo, seconded by Monique Fouant, and discussion,the Board of Directors voted unanimously in favor of a resolution to approve the plan for restoration and improvement of the mall area men’s and women’s restrooms and laundry room, as presented by management and maintenance, and hereby establishes a budget of $38,900 for management to carry out this project with in-house labor, funded by the reserve fund.
- 1p/2p Walkway Flooring
After a motion by Cheryl Ronnett, seconded by Kenneth Anderson, and discussion,the Board of Directors voted unanimously in favor of a resolution to approve use of the Shaw hard surface ‘Moon Rock’ vinyl flooring for installation in the corridors serving 1p and 2p between the garage and service elevators.
- Roof Lighting
After a motion by Jean Shamo, seconded by Cheryl Ronnett, and discussion, the Board of Directors voted 4 in favor and 1 against to pass a resolution to table the possible Roof Lighting project for consideration with next years budget, 2020/2021, so the project and potential expense can be considered further and Unit Owners can have an opportunity for more input, and so Management can conduct additional research on the potential impact on migratory birds and O’Hare airport flight paths. Michael Parrie voted against the motion.
8. Service Animal Request
After a motion by Cheryl Ronnett, seconded by Kenneth Anderson, and discussion, the Board of Directors voted unanimously in favor of a resolution to deny the request of a Unit Owner to approve 2 support animals for the unit.
After a motion by Cheryl Ronnett, seconded by Kenneth Anderson, the Board of Directors voted unanimously in favor of a resolution to approve the request of a Unit Owner to approve one support animal for the unit.
Treasurer’s Report
Board Treasurer Jean Shamo reviewed the most recent available fund balances, and the summary of Revenue and Expenses for December 2018.
Fund Balances End of December 2018
Operating Funds $567,329 (decrease of $139,456 from prior month)
Reserve Funds $2,027,297 (increase of $35,475 from prior month)
Total Cash and Investments $2,594,626 (decrease of $103,980 from prior month)
December 2018 Revenue and Expenses
Total Operating Revenue: $512,322
Total Operating Expenses: $378,187
Income From Garage: $18,398
Contribution To Reserve: $136,675
Total surplus: $15,859
ADJOURNMENT
There being no further business, after a motion by Cheryl Ronnett, seconded by Kenneth Anderson, the Board of Directors voted unanimously in favor of a resolution to adjourn the January 28, 2019 Board Meeting at 8:16PM.
OWNER FORUM – 15 minutes, 2 minutes per person
The Board and Management addressed feedback and questions from Unit Owners.
Next Regular Board Meetings – February 11th and February 25th, 7:30PM in the Party Room
Resident Forum Saturday February 2nd at 11am in the Party Room
Board President Michael Parrie noted that Owners should watch for postings, as there may not be business for consideration warranting a meeting on February 11th. So the next meeting would be February 25th or March 11th.
About the Author: Tim Patricio
Park Tower Horizons
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