IMPORTANT NOTE: The “Post Meeting Roundup” is neither official meeting minutes, nor is it 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 roundup is a review of the activity and business considered at the meeting as observed by management, provided as a courtesy and convenience.

BOARD OF DIRECTORS MEETING

(Following Unit Owner Budget Review Meeting.)

Monday January 9th, 2017 at 7:30PM

2nd Floor Party Room

UNIT OWNER MEETING – 7:35PM

Review the Proposed Operating Budget for the 2017/18 Fiscal Year

This was a meeting of the owners to discuss, ask questions and share feedback about the proposed budget for the 2017/2018 fiscal year, mailed to owners on December 23rd. The meeting chair, Board President Michael Parrie brought the meeting to order at 7:35PM. He directed discussion and called on audience members to speak and ask questions. Board Members and Management replied to questions, and addressed feedback shared by owners.

After a motion by Paul Groeninger Unit Owner 4211, seconded by Tom Alexander Unit Owner 4304, the meeting was adjourned at 8:01PM, with all in favor of adjournment.

OWNER FORUM

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

OPEN SESSION – Call to Order

The meeting chair, Board President Michael Parrie called the meeting to order at 8:18pm.

Roll Call – Confirm Quorum

The meeting chair confirmed a quorum of Board Members was present. Present from the Board was President Michael Parrie, Vice President Monique Fouant, Secretary David Nicosia, 2nd Vice President Paul Heck and Board Treasurer Jean Shamo.

Present from management was Property Supervisor Dave Barnhart, Property Manager Timothy Patricio and Assistant Manager Amir Cobalovic.

Board Report: Board President Michael Parrie

From Board President Michael Parrie: “The Board would like to thank the News & Social Media Committee on another job well done with the December through February edition of Tower Talk. In addition, the Board would like to thank the Social Committee on another great gathering at last night’s Pot Luck Dinner. We had over 50 residents attend.

Also, the Board would like to remind residents that the Health Club Committee is sponsoring an Open House this week, Friday and Saturday for anyone interested in touring the newly remodeled facilities; check the posted notices for the times of these tours.

Finally, the Board would like to thank all residents who contributed to the Park Tower Employee Holiday Fund. It was another successful collection, and all of the employees are very appreciative of everyone’s generosity during the holiday season.”

Action Items – New Business

1. Closed Session Business

After a motion by Michael Parrie, seconded by Monique Fouant, the Board of Directors voted unanimously in favor of a resolution to fine 12 Unit Owners for failure to provide adequate proof of insurance, $100 for the first month, to double thereafter for each subsequent month, up to the maximum fine of $1000.

After a motion by Michael Parrie, seconded by Jean Shamo, the Board of Directors voted unanimously in favor of a resolution to reduce a fine for a short term rental violation from $1000 to $250.

2. Minutes – Board Meeting December 12, 2016

After a motion by Dave Nicosia, seconded by Paul Heck, the Board of Directors voted unanimously in favor of a resolution to approve the minutes from the Board Meeting held on Monday December 12, 2016.

3. Proposed 2017/2018 Budget

No action was taken. Board President Michael Parrie noted that the budget will be discussed further and the Board will consider adoption at the Board Meeting scheduled for Monday January 23rd.

4. Social Committee Membership

After a motion by Jean Shamo, seconded by Dave Nicosia, the Board of Directors voted unanimously in favor of a resolution making the following appointments to the Social Committee: Members Jan Anderson Unit Owner of 3106, Harriet Dominique Unit Owner of 5011, Georgie Nowak Unit Owner of 3806, Ken Anderson Unit Owner of 3106, Lois DiFruscio Resident of Unit 2710, and as Chair Sheldon Atovsky Unit Owner of 3306.

5. Garage Power Wash Fee

After a motion by Jean Shamo, seconded by Michael Parrie and discussion, the Board of Directors voted 4 to 1 in favor of a resolution that consistent with the Association’s Rules and Regulations, during Power Washing service in the garage, all parkers will be expected to move their cars out of the garage on the days indicated by posted notices, with no exception, or the parker will be subject to a $50 fee. Monique Fouant voted against the resolution.

 Business Reports

Treasurer’s Report

Board Treasurer Jean Shamo reviewed fund balances at the end of November. The Operating Fund held $640,793 (increase of $246,044 from October), the Reserve Fund held $1,892,709 (decrease of $88,188 from October), for a Total of Cash and Investments of $2,533,503 (increase of $157,857 from October).

Management Report

Property Manager Tim Patricio reported on the CTA TIF approved for $1.1 Billion, the January 19th Community Meeting regarding new construction at Sheridan and Catalpa, the new City Recycling Mandate, and on current Business and Activities, items of interest from the Monthly Activity Report and recent sales activity.

ADJOURNMENT

After a motion by Paul Heck, seconded by Dave Nicosia the Board of Directors voted unanimously in favor of a resolution to adjourn the January 9, 2017 Board Meeting at 8:32PM.

OWNER FORUM

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

Next Meeting Dates January 23^rd 7:30PM and Residents forum February 6^th 7PM.