IMPORTANT NOTE: The “Post Meeting Roundup” is neither official meeting minutes, nor are they 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 to Owners.

BOARD OF DIRECTORS MEETING

Monday November 9, 2015 at 7:30PM

2nd Floor Party Room

7:30PM – OWNER FORUM

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

7:48PM – OPEN SESSION

The Board Vice President called the meeting to order and confirmed a quorum of members was present to conduct business. Present at the meeting was Michael Parrie, Vice President; Betty Terry-Lundy, Secretary; Jean Shamo, Treasurer; David Nicosia, Board Member; George Pauley, Board President via conference call; Dave Barnhart, Property Supervisor with Draper and Kramer; Timothy Patricio, Property Manager; Amir Cobalovic, Assistant Property Manager.

Committee Reports

ASCO – Board Member and ASCO Liaison Dave Nicosia mentioned that plans for improvement at Loyola, on Winthrop south of campus were shared with the Board, and mentioned ASCO’s street scapers would be filling the planters on the plaza.

Budget & Finance Committee – Committee Chair Paul Groeninger mentioned the Committee is finishing up review of the proposed budget for 2016/17. He indicated the next meeting would be Wednesday November 11th at 4:30pm in the Party Room. The Committee is hoping to make it through all open items. If they do not, another meeting will be scheduled between now and the first Board Meeting to review the budget, Monday November 30th.

Board Report

Board Vice President Michael Parrie discussed the Unit Owners Forum held on Saturday November 7th. The primary theme of the meeting was energy savings, and one of the main topics was coming up with ways to get more thermostats installed. He also mentioned the renderings of the Loyola streetscaping plans were present, and asked they be passed around for owners to review.

Additional Items For The Agenda

Michael Parrie moved, George Pauley seconded and the Board voted unanimously in favor of a resolution to of add 5 action items to the Agenda: Item #10 Bike Room Winter Rate, Item #11 Window Washing Contract, Item #12 Roof Maintenance Contract, Item #13 Mechanical Repairs at Roof and Item #14 Thermostats.

Action Items – New Business

Minutes – Board Meeting October 12, 2015

Betty Terry-Lundy moved, Dave Nicosia seconded and the Board of Directors voted unanimously to approve the minutes from the Board Meeting held on Monday October 12, 2015 as amended and presented by Property Manager Timothy Patricio with changes.

Letter of Support for Greystar Project 5440 North Sheridan

Dave Nicosia moved, Jean Shamo seconded and the Board of Directors voted 4 to 1 in favor of a resolution to direct a letter of support for the proposed development by Greystar for the lot at 5440 North Sheridan Road NOT be forwarded to the Alderman’s office, rather it is to be communicated to the owners and residents they are encouraged to provide their individual comments and feedback to the Alderman’s office. George Pauley, Michael Parrie, Jean Shamo and David Nicosia voted in favor of the resolution. Betty Terry-Lundy voted against.

Plaza Lighting

Dave Nicosia moved, Jean Shamo seconded and the Board of Directors voted unanimously in favor of a resolution approving to repurpose light fixtures, originally intended for the south exposure of the building, for use along the plaza masonry wall between the North lobby door and the mall entrance.

Kitchen Catch Basin Repair

Dave Nicosia moved, George Pauley seconded and the Board of Directors voted unanimously in favor of a resolution ratifying and approving the action by management to execute a proposal for emergency repairs to the Kitchen drain line catch basin, as proposed by JLJ contracting for $24,225 as a reserve expense.

Unit Owner Request – Rental Policy Exception

Dave Nicosia moved, Jean Shamo seconded and the Board of Directors voted unanimously in favor of a resolution denying a request for a rental exception to the Unit Owner of 2315.

Construction Requests

Michael Parrie moved, Dave Nicosia seconded and the Board of Directors voted unanimously in favor of a resolution approving the remodeling plans of units 2905 and 5315, contingent upon receipt of all necessary contractors Certificates of Insurance, 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.

Upcoming Board Meeting Schedule

Michael Parrie moved, Dave Nicosia seconded and the Board of Directors voted unanimously in favor of a resolution cancelling the Board Meeting scheduled for Monday November 23rd, 2015.

Bike Room Winter Rate

Dave Nicosia moved, George Pauley seconded and the Board of Directors voted unanimously in favor of a resolution authorizing a winter rate of $25 for Bike Room registration every November.

Window Washing Contract

Dave Nicosia moved, George Pauley seconded and the Board of Directors voted unanimously in favor of a contract not to exceed $32,250 for quarterly window washing and semi-annual spider treatment of the exterior.

Roof Maintenance Contract

Dave Nicosia moved, Jean Shamo seconded and the Board of Directors voted unanimously in favor of a resolution approving the roof maintenance contract as proposed by Solaris Roofing, for spring and fall maintenance inspection and repair visits at a cost of $3,280 per visit.

Roof Area Mechanical Repairs

Dave Nicosia moved, George Pauley seconded and the Board of Directors voted unanimously in favor of a resolution directing Management to collect competitive proposals for capital repairs to the bathroom air handler in the mechanical penthouse.

Thermostats

Dave Nicosia moved, Jean Shamo seconded and the Board of Directors voted unanimously in favor of a resolution directing management to identify options for thermostats to install on a bulk basis, collect names of owners interested in installing thermostats, and identify a contractor to install them in bulk.

Business Reports:

Treasurer’s Report – Jean Shamo

Board Treasurer Jean Shamo reported September end of month bank balances; Operating Account Balance was $537,583, Reserve Account Balance was $1,442,908 for a Total Cash and Investments was $1,980,491.

Management Report – Tim Patricio

Property Manager Timothy Patricio discussed the coming pilot program for SMS Text Messages, and reviewed September sales and business activity.

ADJOURNMENT

There being no further business, Dave Nicosia moved, Betty Terry-Lundy seconded and the Board voted unanimously in favor of adjourning the November 9th, 2015 Board Meeting at 8:48pm.

OWNER FORUM

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

The next Board Meeting is Monday November 30th, 6:30pm in the Party Room.