BOARD OF DIRECTORS MEETING

Monday December 9, 2024  7:30PM

Meeting Roundup Report

Important Note – The Meeting Roundup Reports are provided as a courtesy for Owners to review business the Board considered and conducted at meetings. This is not intended to replace actual meeting minutes. Minutes for each Board Meeting are typically drafted after that meeting and approved at the next regularly scheduled meeting, after which they are posted in the PT Condo Online Library and otherwise available upon request from the Management Office.

6:30PM – CLOSED SESSION

The Board of Directors met to discuss rule violations, pending litigation, Unit Owner account issues and personnel matters.

7:30PM – OWNER FORUM

The Board of Directors and Management welcomed and addressed feedback and questions from Unit Owners.

CALL TO ORDER – Board Meeting Open Session

The meeting chair, expected to be Board President Michael Parrie will call the meeting to order.

Confirm Quorum

Board President Michael Parrie called the meeting to order at 7:52pm. 

Confirm Quorum

Michael Parrie confirmed a quorum of Board Members was present.

Present from the Board of Directors was Michael Parrie, Lloyd Allison, Angie Eden and Sheldon Atovsky. Monique Fouant was absent.

Present from Management was Property Supervisor Shruti Kumar, General Manager Tim Patricio, Community Manager Danny Bravman and Community Manager Scott Turton.

Commission Reports

On behalf of the Social Commission, Board Liaison Sheldon Atovsky reported on the Holiday Cheer event on Friday December 6th in the main lobby and the upcoming Family Movie Night on Saturday January 11th, featuring Inside Out. The next meeting of the commission will be Thursday, Dec 12, 5:30 pm, on Zoom, during which we’ll discuss and plan for our upcoming events. Also, he encouraged interested owners to join their email list by emailing them at ptcasocial@rcn.com.

For the most recent Social Commission Report, Click Here.

Home Improvement Commission Liaison Michael Parrie reported that the next meeting is scheduled for Monday January 20th, 2025 at 6pm.

Board Report

Board President Michael Parrie shared a friendly reminder that we have a garage power wash this week.  The Board passed a new policy at its November 14, 2022 meeting: a fee of $150 will be applied for failing to remove their car by 9 am on their designated days, and this fee will double for each subsequent event, up to a maximum fee of $1,000 per event. Fees cannot be waived and self-parkers will lose their permanent spot after three events on top of fees. To sum it up, please move your car, or have someone move it for you.

He thanked the Social Commission, on behalf of the Board, for the Park Tower Holiday Cheer last Friday.

He said the Board would also like to recognize the following individuals who are celebrating 5 and 15 years of service to Park Tower:

Bill Rini – Assistant Engineer – 5 years

Hernando Beltran – Clubhouse Attendant – 15 years

The Board thanks them for their loyalty and dedicated service to Park Tower!

He said the Board would also like to recognize our Board attorney, David Bendoff, for his 19 years of service to Park Tower and wish him well in his upcoming retirement, and the Board looks forward to working with a new Board attorney from KSN, David Savitt.

He said Board would also like to recognize Garage Attendant William Whooper, who has worked at Park Tower since 2008 and is retiring at the end of the year.  He said the Board would like to congratulate him on this milestone.

On behalf of the Board he also thanked everyone who has donated to the Park Tower Employee Holiday Fund so far. The last day to contribute to our 36 employees is Friday, December 20^th.

He wished everyone a happy holiday season and new year!

Action Items

1. Closed Session Business

After a motion by Michael Parrie, seconded by Sheldon Atovsky, the Board of Directors of the Park Tower Condominium Association voted unanimously in favor of a resolution to consult with Association counsel with Kovitz, Shifrin, Nesbit to begin the process to file suit against a Unit Owner, to enforce the Declaration and Rules and Regulations due to alleged violations.

After a motion by Michael Parrie, seconded by Angie Eden, the Board of Directors of the Park Tower Condo Association voted unanimously in favor of a resolution to fine eleven unit owners $100 for not having proof of insurance, which may double thereafter for each subsequent month, up to the maximum fine of $1,000, until adequate proof of insurance is provided.

After a motion by Michael Parrie, seconded by Lloyd Allison, the Board of Directors of the Park Tower Condo Association voted unanimously in favor of a resolution to fine a unit owner $200 per event for six separate noise disturbances, with the warning that future disturbances may result in the fine doubling per event.

After a motion by Michael Parrie, seconded by Sheldon Atovsky, the Board of Directors of the Park Tower Condo Association voted unanimously in favor of a resolution to fine a unit owner $250 for plumbing code violation per month until it has been confirmed that the violation has been resolved and $250 for unauthorized installation of a washer and dryer.

After a motion by Michael Parrie, seconded by Angie Eden, the Board of Directors of the Park Tower Condo Association voted unanimously in favor of a resolution to fine a unit owner $200 for damage to Association property.

2.  Minutes – Board Meeting November 25, 2024

After a motion by Sheldon Atovsky, seconded by Lloyd Allison, the Board of Directors of the Park Tower Condo Association voted 3 to 1 in favor of a resolution to approve the minutes from the Board Meeting held on November 25, 2024. Angie Eden abstained.

To review and download the approved minutes, Click Here.

3. Mailing Of Proposed 2024/2025 Budget

After a motion by Lloyd Allison, seconded by Sheldon Atovsky, the Board of Directors of the Park Tower Condo Association voted unanimously in favor of a resolution to accept the draft of the proposed Park Tower Condominium Association Budget for the 2025/2026 fiscal year, and directs Management to distribute the document and cover letter in its entirety to all Park Tower Condominium Association Unit Owners for the required review period and for their consideration, including notice for a Special Meeting of the Unit Owners scheduled to be held January 13th at 7:30pm prior to the monthly Board of Directors Meeting, for the purpose of Unit Owner discussion of the proposed budget, as required prior to the Board of Directors considering formal adoption.

4. Management Office 2025 Holiday Schedule

After a motion by Angie Eden, seconded by Lloyd Allison, the Board of Directors of the Park Tower Condo Association voted unanimously in favor of a resolution to formally accept the holiday schedule for the management office as presented by the Habitat Company for the 2025 calendar year, with the office scheduled to be closed for the following holidays:  New Year’s Day, Martin Luther King Day, Memorial Day, Independence Day, Labor Day, Thanksgiving and the day after Thanksgiving, Christmas Day and the day after Christmas Day, and early closings at 12pm the business day before each holiday with the exception of Martin Luther King Day.

5. Chiller Project Change Order

After a motion by Sheldon Atovsky, seconded by Lloyd Allison, the Board of Directors of the Park Tower Condo Association voted unanimously in favor of a resolution to approve the chiller teardown project ‘extras’ as proposed by WJO Chicago, at a total expense of $49,706 to be funded by the reserve fund.

6. Construction Requests

After a motion by Michael Parrie, seconded by Lloyd Allison, the Board of Directors of the Park Tower Condo Association voted unanimously in favor of a resolution to approve the remodeling plans for Units 302, 2114, 4511, and 5114 as submitted by the unit owners, following the recommendations of the chief engineer as outlined in their written specifications and in accordance with the Rules and Regulations and remodeling guidelines of the Park Tower Condo Association.

Business Reports

1.                 Treasurer’s Report

The most recent financial reports, for the period October 2024, were reviewed at the November 25th meeting. For reference:

Fund Balances End of October 2024

Operating assets totaled $2,254,988 and the Reserve cash and investments were $4,230,284 for a total of cash and investments of $6,485,272.

October 2024 Revenue and Expenses

Total Operating Revenue: $635,068

Total Operating Expenses: $480,398

Income (Loss) From Garage: $29,220

Contribution To Reserve: $172,233

Total Surplus/(Deficit): $11,857

2.                 Management Report
General Manager Timothy Patricio reviewed current business of interest and indicated there were no sales in the month of November.

ADJOURNMENT

There being no further business, after a motion by Lloyd Allison, seconded by Angie Eden, the Board of Directors of the Park Tower Condo Association voted unanimously in favor of a resolution to approve adjourning the December 9, 2024 Board Meeting at 8:11PM.

OWNER FORUM

The Board of Directors and Management welcomed and addressed feedback and questions from Unit Owners.

The next regular Board Meetings are scheduled for Monday January 13th following the Special Meeting Of The Unit Owners To Review The 2025/2026 Proposed PTCA Operating Budget and Monday January 27th at 7:30PM. Also, the next Resident Forum is scheduled for Saturday January 25th at 11am, all to be held in the 2nd Floor Party Room unless otherwise posted.