Post Meeting Roundup Sept. 10th
September 14, 2018
BOARD OF DIRECTORS MEETING
Roundup Report
Monday September 10, 2018 7:30PM
2nd Floor Party Room
6:30PM – Closed Session (Held by the Board in the Management Office)
7:30PM – OWNER FORUM
The Board and Management addressed feedback and questions from Unit Owners.
OPEN SESSION
The meeting chair, Board President Michael Parrie, called the meeting to order at 7:34PM.
Roll Call – Confirm Quorum
The meeting chair confirmed a quorum of Board Members were present. Present from the Board was Board President Michael Parrie, 1st Vice President Paul Heck, 2nd Vice President Monique Fouant, Treasurer Jean Shamo, and Secretary Kenneth Anderson.
Present from management was Draper and Kramer Senior Vice President Dave Barnhart, Property Manager Timothy Patricio and Assistant Manager Yvonne Sanchez.
Committee Reports
Social Committee Board Liaison Monique Fouant mentioned the next Social Committee Meeting would be held on September 12th at 6:15pm. She mentioned the next TGIF Party would be Friday September 21st at 5:30PM in the lobby, and is being planned as a retirement Thank You party for Sue & Jim for their 37 years of service to the Association. She also asked for residents to stay tuned for the Committee’s new “people to people” initiative, which will be an effort to connect residents and owners with similar interests.
Board Report
The Board President thanked the Newsletter Committee for another excellent edition of the Tower Talk newsletter.
If you haven’t already, you can check it out online: Tower Talk SEPT-NOV 2018
Want to browse our Newsletter Archive and view previous editions of Tower Talk: Click Here
Additional Agenda Item
After a motion by Paul Heck, seconded by Monique Fouant, the Board of Directors voted unanimously in favor of a resolution to approve adding Action Item number 3 to the Agenda, for Commercial Area Wall Leak Repair.
Action Items
- Closed Session Business
After a motion by Michael Parrie, seconded by Ken Anderson, the Board of Directors voted unanimously in favor of a resolution to fine 2 unit owners $100 for the first month, to double thereafter for each subsequent month, up to the maximum fine of $1,000, for not providing adequate proof of insurance.
After a motion by Michael Parrie, seconded by Jean Shamo, the Board of Directors voted unanimously in favor of a resolution to fine 4 unit owners $50 for the first month, to double thereafter for each subsequent month, up to the maximum fine of $200, for not attending the new residents’ meeting.
After a motion by Michael Parrie, seconded by Paul Heck, the Board of Directors voted unanimously in favor of a resolution to direct management to charge an owner’s account the expense for clean-up, time for repairs and efforts due to negligence and flood damage to the Association’s common elements and 11 other unit owners’ property, as is consistent with Park Tower’s governing documents, to clean up and repair the shell of each effected unit up to the primer coat of paint.
- Minutes – Board Meeting August 27, 2018
After a motion by Ken Anderson, seconded by Monique Fouant, the Board of Directors voted unanimously in favor of a resolution to approve the minutes from the Board Meeting held on Monday August 27, 2018.
To view or print a copy of the approved minutes, Click Here.
3. Commercial Area Wall Leak Repair
After a motion by Paul Heck, seconded by Jean Shamo and discussion, the Board of Directors voted unanimously in favor of a resolution to approve the repair of an exterior wall adjacent to Suite 108 and the dock, as a reserve expense at a cost not to exceed $21,590.
Michael Parrie explained management already received an initial proposal at that amount, and is awaiting two additional bids. Once they are received, the repair will be scheduled with the most reasonable bidder.
Business Reports
Treasurer’s Report
Board Treasurer Jean Shamo reviewed fund balances and income and expenses for the month ending July 2018.
Operating Funds $899,214 (increase of $70,437 from prior month)
Reserve Funds $1,343,555 (decrease of $808 from prior month)
Total Cash and Investments $2,242,769 (increase of $69,628 from prior month)
Total Operating Revenue: $523,667
Total Operating Expenses: $475,781
Income From Garage: $24,215
Contribution To Reserve: $136,675
Total deficit: $64,575
Management Report
Property Manager Timothy Patricio reviewed current business, key items from the Monthly Activity Report and the most recent sales activity.
ADJOURNMENT
There being no further business, after a motion by Paul Heck, seconded by Ken Anderson, the Board of Directors voted unanimously in favor of a resolution to adjourn the September 10, 2018 Board Meeting at 7:46PM.
OWNER FORUM
The Board and Management addressed feedback and questions from Unit Owners.
Next regular Board Meetings – Monday September 24th and October 8th
About the Author: Tim Patricio
Park Tower Horizons
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