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.
Agenda & Report
7:00PM – CLOSED SESSION
The Board met to discuss rule violations, pending litigation and Unit Owner account issues.
7:30PM – Owner Forum
The Board of Directors and management welcomed and addressed feedback and questions from Unit Owners.
CALL TO ORDER – Open Session
The meeting chair Board President Michael Parrie called the meeting to order at 8:06pm.
Confirm Quorum
The meeting chair, Board President Michael Parrie, confirmed a quorum of Board Members was present.
Present from the Board of Directors was Michael Parrie, Monique Fouant, Lloyd Allison, Angie Eden and Sheldon Atovsky.
Present from Management was Property Supervisor Shruti Kumar, General Manager Tim Patricio and Community Manager Danny Bravman.
Commission Reports
ASCO Liaison Angie Eden reported ASCO will be holding a special meeting on Tuesday March 11th, to discuss the difficulty of drivers failing to stop at the stop sign at N. Sheridan Road and W. Catalpa Avenue. The City of Chicago did a traffic study. As a result, it is proposed to put North Sheridan Road on a “Road Diet” in between Foster and Bryn Mawr Avenues. At the Board President’s direction, this proposal was discussed during the Owner Forum at length.
Social Commission Acting Chair Sheldon Atovsky discussed the Ukrainian Egg Decorating Workshops and the next TGIF expected on Friday March 28th at 5:30 to 7:30pm in the lobby. Join the Social Commission e-mail group to be included on news and announcements for coming events, just send a request to: ptcasocial@rcn.com.
To review and download the Commission’s most recent report, Click Here.
Monique Fouant, liaison to the Health Club Commission mentioned a member has circulated a racquetball league sign up, and encouraged any interested members to respond. She also thanked maintenance for the recent painting and repairs of the racquetball court.
Home Improvement Board Liaison Michael Parrie reported that there has been a continued delay with the elevator remodeling due a vendor not being responsive to an order for the wall materials. Alternative plans similar to the original materials are being considered. The commission’s next meeting is on Monday, March 17th at 6:00 pm in the 2nd floor party room. All owners are welcome to attend.
Board Report
On behalf of the Board, Board President Michael Parrie apologized for the delay in statement printing for the new fiscal year. The due date for March assessments is now Monday, March 17th. No late fees will be applied before this date.
Discussed during the Owner Forum, but for the record, he reported that ASCO is hosting a special meeting tomorrow for building ASCO representatives to discuss the difficulty of drivers failing to stop at the stop sign at N. Sheridan Road and W. Catalpa Avenue. The City of Chicago did a traffic study. As a result, it is proposed to put North Sheridan Road on a “Road Diet” in between Foster and Bryn Mawr Avenues. This means that two lanes would be reduced to one lane in each direction in order to slow down traffic and get people to stop at the stop sign. The curb lane would become parking and bump outs would be installed at the intersections. The approximate cost for the city is $20,000. In addition, painting stop ahead on the pavement near the intersection would also be done at a cost of $2,000. Please contact Alderwoman Leni Manaa-Hoppenworth with any agreements or disagreements before this is presented to the City Council.
To reach the 48th Ward Office:
Address: 1129 W Bryn Mawr (map)
Phone: 773-784-5277
Email: info@the48thward.org
Mon-Thurs: 10am – 5pm
(Weds: Closed from 12-1pm)
Fridays: Remote hours from 10am-3pm
Finally, Michael Parrie reminded Owners there will be a garage power wash on Monday, May 12th thru Thursday, May 17th. Please move your car or have someone move it for you on your designated day(s).
Action Items
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 eight unit owners $100 for not having proof of insurance, and doubling thereafter for each subsequent month, up to the maximum fine of $1,000 monthly, until adequate proof of insurance is provided.
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 five unit owners $50 for not attending the new resident meeting, and doubling thereafter for each subsequent month, up to the maximum fine of $200 monthly, until they attend a new resident meeting.
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 deny a unit owners request to waive a work order charge for the staff to move personal belongings away from the fiber transition work location.
After a motion by Michael Parrie, seconded by Sheldon Atovsky, the Board of Directors of the Park Tower Condo Association voted 4 to 1 in favor of a resolution to grant a request for a support animal, pursuant to guidance from the Association’s legal counsel. Michael Parrie abstained.
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 minutes from the Board Meeting held on February 10, 2025.
To review and download the approved minutes, Click Here.
After a motion by Monique Fouant, seconded by Angie Eden, the Board of Directors of the Park Tower Condo Association voted unanimously in favor of a resolution to approve the 22.1 disclosure as drafted with the best available information through January 2025.
Following discussion, this matter was tabled following feedback and in order to get more information from Otis Elevator.
After a motion by Lloyd Allison, seconded by Sheldon Atovsky, and following discussion, the Board of Directors of the Park Tower Condo Association voted unanimously in favor of a resolution to approve the replacement of the inner and outer compactor room doors as proposed by Industrial Door Company at an expense of $16,483, to be funded by the Reserve.
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 sealant, concrete and coping repairs to the circle drive and triangle planter, and driveway, as proposed by Monson Nicholas, Inc. at an expense of $17,155 and a provision of $5000 to address unforeseen conditions that may arise during the course of completing the work, for a total of $22,155, to be funded by the Reserve.
Following discussion, this matter was tabled pending guidance from the Home Improvement Commission.
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 approve the remodeling plans for Units 705 and 1110, 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
1. Treasurer’s Report
Board Treasurer Lloyd Allison reviewed key information from the most recent financial reports, as presented by the Habitat Company for the period January 2024.
Fund Balances End of January 2025
Operating assets totaled $1,896,389 and the Reserve cash and investments were $4,937,034 for a total of cash and investments of $6,833,423.
January 2025 Revenue and Expenses
Total Operating Revenue: $638,738
Total Operating Expenses: $515,418
Income (Loss) From Garage: $4648
Contribution To Reserve: $172,233
Total Surplus/(Deficit): $(44,264)
Action On Investments
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 approve the reinvestment of an operating fund CD with Gold Cost Bank, totaling $101,795, with an interest rate of 4.5% for a period of 60 months, and affirms that management continue consulting with the Board Treasurer and President between Board Meetings when making any new investments or future adjustments to such investments.
2. Management Report
General Manager Timothy Patricio reviewed current business of interest.
ADJOURNMENT
There being no further business, after a motion by Monique Fouant, seconded by Lloyd Allison, the Board of Directors of the Park Tower Condo Association voted unanimously in favor of a resolution to adjourn the March 10, 2025 Board Meeting at 8:32pm.
OWNER FORUM
The Board of Directors and Management will welcome and address feedback and questions from Unit Owners.
The next regular Board Meetings are scheduled for Monday March 24th and April 14th at 7:30PM. Also, the next Resident Forum is scheduled for Tuesday April 22nd at 7pm, all to be held in the 2nd Floor Party Room unless otherwise posted.
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