Post Meeting Roundup Monday Jan. 10th
January 11, 2022
Special Unit Owner Meeting to Discuss the Proposed 2022/2023 Budget and January 10th Board of Directors Meeting
Post Meeting Roundup Report
Monday January 10, 2022
6:30PM – CLOSED SESSION
The Board met to discuss rule violations, pending litigation, Unit Owner account issues and personnel matters.
7:30PM – Special Meeting To Review The Proposed Budget
Special Meeting of the Unit Owners was held to review the proposed budget for the Park Tower Condo Association fiscal year 2022/2023.
Board President Michael Parrie called the meeting to order at 7:30PM, and stated the purpose of the meeting was to review the proposed budget and then allow Owners an opportunity to comment and ask questions.
To review the PowerPoint Budget Presentation narrated at the meeting by Board President Michael Parrie, Click Here
Discussion was led by Michael Parrie with the Board and Management addressing questions and comments as necessary by Unit Owners present.
After a motion by Betty Terry-Lundy (Unit 4306-4406) seconded by, Matthew Ditto (Unit 1908), the ownership of the Park Tower Condo Association voted unanimously in favor of a resolution to adjourn the Monday January 10th, 2022 Special Meeting of the Unit Owners to review the proposed budget for the 2022/2023 fiscal year, at 8:28PM.
OWNER FORUM
The Board of Directors and Management welcomed and addressed feedback and questions from Unit Owners.
CALL TO ORDER – Board Meeting Open Session
Board President Michael Parrie called the meeting to order at 8:28PM.
Confirm Quorum
Michael Parrie confirmed a quorum of Board Members was present.
Present from the Board was Michael Parrie, Jean Shamo, Monique Fouant, Sheldon Atovsky, and Catherine Kestler. Present from Management was Property Supervisor Dave Barnhart and Property Manager Timothy Patricio.
Commission Reports
Social Commission Acting Chair Sheldon Atovsky discussed the “Gather To Talk” December program, and the upcoming Thursday January 10th event via ZOOM. Information will be posted soon, or feel free to e-mail the Social Commission at ptcasocial@rcn.com. For the most recent report from the Social Commission, Click Here
Health Club Commission Acting Chair Monique Fouant reported that they expect the next meeting will be in January 25th at 4PM, via ZOOM. Notices will be posted in advance.
On behalf of the Home Improvement Commission, Board President Michael Parrie encouraged interested Owners to join the next meeting Wednesday January 12th at 6pm in the Party Room.
Board Report
Board President Michael Parrie thanked the Owners present who attended the Special Meeting to review and consider the proposed budget for 2022/2023. He referenced the PowerPoint presentation from the Special Meeting as the report for the evening.
To review the PowerPoint Budget Presentation narrated at the meeting by Board President Michael Parrie, Click Here
Action Items
- Closed Session Business
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 5 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 Jean Shamo, the Board of Directors of the Park Tower Condo Association voted unanimously in favor of a resolution to fine 2 unit owners $50 for the first month, which may double thereafter for each subsequent month, up to a maximum fine of $200, for not attending the new residents’ meeting.
After a motion by Michael Parrie, seconded by Catherine Kestler, the Board of Directors of the Park Tower Condo Association voted unanimously in favor of a resolution to fine a unit owner $500 for a pest control violation, which may double up to $1,000 per month until the condition is resolved.
After a motion by Michael Parrie, seconded by Monique Fouant, the Board of Directors of the Park Tower Condo Association voted unanimously in favor of a resolution to fine a unit owner $1,000 for unlawful behavior.
After a motion by Michael Parrie, seconded by Jean Shamo, the Board of Directors of the Park Tower Condo Association voted unanimously in favor of a resolution to fine a unit owner $200 for a violation of use and occupancy (minor property damage).
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 a construction violation, and may double thereafter for each subsequent occurrence, up to the maximum fine of $1,000 per occurrence.
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 deny a request from a Unit Owner to waive a service charge on the account.
- Minutes – Board Meeting December 13, 2021
After a motion by Sheldon Atovsky, seconded by Monique Fouant, the Board of Directors of the Park Tower Condo Association voted unanimously in favor of a resolution to approve the minutes from the Board Meeting held on Monday December 13, 2021.
To view and download the approved minutes, Click Here
- Proposed 2022/2023 Operating Budget
After a motion by Jean Shamo, seconded by Sheldon Atovsky, the Board of Directors of the Park Tower Condo Association voted unanimously in favor of a resolution to adopt the budget as proposed and presented to Unit Owners for the fiscal year starting March 1, 2022 and ending February 28, 2023, with a 3.9% increase in assessments, a 4.54% increase in total anticipated operating expenses, and a projected reserve contribution of $1,794,800.
For a copy of the 2022/2023 approved budget, Click Here
For a copy of the original notice regarding the Special Meeting and Budget, Click Here
- Health Club Vaccine Mandate
After a motion by Monique Fouant, seconded by Catherine Kestler, and discussion, the Board of Directors of the Park Tower Condo Association voted unanimously in favor of a resolution to accept the City of Chicago vaccine mandate as it relates fitness facilities, and directs management to continue either collecting proof of vaccination for Park Tower Condo Association Health Club members, to be verified with a government issued picture ID, or to consider reasonable exceptions on a case by case basis based on CDC guidelines, and otherwise leave the members key fob deactivated for Health Club use.
After a motion by Monique Fouant, seconded by Sheldon Atovsky, and discussion, the Board of Directors of the Park Tower Condo Association voted unanimously in favor of a resolution to update the face covering requirement in the Health Club to include the Saunas and Jacuzzi, to require face coverings in all locations except when using the pool and shower.
- Ratify Leak Repair
After a motion by Jean Shamo, seconded by Catherine Kestler, the Board of Directors of the Park Tower Condo Association voted unanimously in favor of a resolution to approve the action taken by the staff to address leaking in commercial unit 16C, as proposed by JLJ Contracting at an anticipated expense of $3,350.
- Garage Credit Card System
The Board discussed but took no action on this matter.
- Construction Requests
After a motion by Michael Parrie, seconded by Monique Fouant, the Board of Directors of the Park Tower Condo Association voted unanimously in favor of a resolution to approve the remodeling plans of units 3905, 3909 and 4809 as submitted by the unit owner, 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
- Treasurer’s Report
Board Treasurer Jean Shamo reviewed the November 2021 Balance Sheet and Statement of Income & Expenses as reported by the Habitat Company.
Fund Balances End of November 2021
Operating assets totaled $1,597,133, and the Reserve cash and investments were $3,211,270 for a total of cash and investments of $4,808,403.
November 2021 Revenue and Expenses
Total Operating Revenue: $575,199
Total Operating Expenses: $371,383
Income (Loss) From Garage: $42,485
Contribution To Reserve: $146,508
Total Surplus/(Deficit): $99,793
- Management Report
Property Manager Tim Patricio reviewed current business and activities of interest, the Engineer’s Report and the most recent Sales.
ADJOURNMENT
After a motion by Monique Fouant, seconded by Catherine Kestler, and discussion, the Board of Directors of the Park Tower Condo Association voted unanimously in favor of a resolution to adjourn the January, 2022 Board Meeting at 8:54PM.
OWNER FORUM
The Board of Directors and Management welcomed and addressed feedback and questions from Unit Owners.
The next Board Meetings are scheduled for Monday January 24th and February 14th at 7:30PM. On Saturday January 29th at 11AM, there will be a Resident Forum. At this time, all such events are anticipated to be held in the 2nd Floor Party Room. Masking and Social Distancing are mandatory.
About the Author: Tim Patricio
Park Tower Horizons
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