BOARD OF DIRECTORS MEETING

Monday September 11, 2023 7:30PM

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 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, Board President Michael Parrie, called the meeting to order at 7:50PM. 

Confirm Quorum

The meeting chair confirmed a quorum of Board Members was present.

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

Present from Management was Property Supervisor Shruti Kumar (via conference call), Property Manager Tim Patricio and Assistant Managers Danny Bravman and Scott Turton.

Commission Reports

Social Commission Chair Sheldon Atovsky reported about the 50th Anniversary opening event and thanked individuals who helped with the event and lobby exhibits. He reported the closing event will be on October 8th at 7pm and the next Commission meeting will be September 27th at 7pm via ZOOM. Finally, you can join the e-mail list for Commission news and announcements by sending a request to ptcasocial@rcn.com.

To review or download the most recent Social Commission Report, Click Here.

Cable/Internet Commission liaison Lloyd Allison spoke about the most recent meeting on August 30th with representatives of RCN. The Commission discussed options for renewal with ASTOUND, and some of the key details negotiated as a part of the renewal agreement, which is to be considered by the Board in Open Session.

Home Improvement Commission liaison Michael Parrie reported the next meeting is Monday September 18th at 6pm in the Party Room.

To review or download the most recent Home Improvement Commission Report, Click Here.

Board Report

Board President Michael Parrie reported that the Board is pleased to share we received $42,389 from the City of Chicago for a scavenger rebate.  He thanked Management for continuing to pursue our past applications for the refunds.

He also thanked the Ad Hoc Bulk Cable and Internet Commission (consisting of Chair Phoebe Helm, Ricardo Eugenio, Joe Guzzardo, Carlos Vargas, Sharon Walker, Board Liaison Lloyd Allison) and Tim Patricio for their work on collecting information, distributing and analyzing a survey to unit owners, and negotiating a proposed 5-year contract with Astound, formerly RCN.  This not only keeps us at a lower bulk price and faster speed, but also gives us options in the future such as adding fiber and unbundling cable.

Finally, on behalf of the Board he thanked the Social Commission for its work on the 50^th anniversary celebration of Park Tower on Friday, September 8.  He gave special thanks to Sheldon Atovsky and Bob Shamo for all their planning to make the event a success.

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 approve a $26,000 settlement for attorney fees to be paid by an owner to dismiss a suit and countersuit, require proof of a sales contract for the sale of their unit, and attest that they will never seek to inhabit Park Tower Condominium again.

After a motion by Michael Parrie, seconded by Angie Eden, the Board of Directors of the Park Tower Condominium 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 Lloyd Allison, the Board of Directors of the Park Tower Condominium Association voted unanimously in favor of a resolution to fine 2 unit owners $50 for not attending the new residents meeting, and may double thereafter for each subsequent month, up to a maximum fine of $200, until attendance to the meeting is satisfied.

After a motion by Michael Parrie, seconded by Monique Fouant, the Board of Directors of the Park Tower Condominium Association voted 4 to 1 in favor of a resolution to fine a unit owner $400 for an unscheduled move, $100 for misuse of the elevator, and $100 for luggage cart misuse. Michael Parrie voted against the resolution.

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 fine a unit owner $50 for excessive odors.

After a motion by Michael Parrie, seconded by Lloyd Allison, the Board of Directors of the Park Tower Condominium Association voted unanimously in favor of a resolution to fine a unit owner $400 for an unscheduled move, $100 for misuse of the elevator, and $100 for luggage cart misuse.

After a motion by Michael Parrie, seconded by Lloyd Allison, the Board of Directors of the Park Tower Condominium Association voted unanimously in favor of a resolution to deny an owner’s request to waive a second late fee within a one-year period.

After a motion by Michael Parrie, seconded by Angie Eden, the Board of Directors of the Park Tower Condominium Association voted unanimously in favor of a resolution to deny an owner’s request to waive the garage power wash fee.

After a motion by Michael Parrie, seconded by Monique Fouant, the Board of Directors of the Park Tower Condominium Association voted unanimously in favor of a resolution to deny an owner’s request to suspend their health club membership.

After a motion by Michael Parrie, seconded by Monique Fouant, the Board of Directors of the Park Tower Condominium Association voted unanimously in favor of a resolution to deny an owner’s request to remove the filter and life safety reschedule fees.

After a motion by Michael Parrie, seconded by Lloyd Allison, the Board of Directors of the Park Tower Condominium Association voted unanimously in favor of a resolution to approve an owner’s request for a support animal, as recommended by the Board attorney.

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 approve an owner’s request for a support animal, as recommended by the Board attorney.

2. Minutes – Board Meeting August 14, 2023

After a motion by Sheldon Atovsky, seconded by Lloyd Allison, the Board of Directors of the Park Tower Condominium Association voted unanimously in favor of a resolution to approves the minutes from the Board Meeting held on Monday August 14, 2023.

To review or download the approved minutes, Click Here.

3. Updated 22.1 Disclosure

After a motion by Angie Eden, seconded by Sheldon Atovsky, the Board of Directors of the Park Tower Condominium Association voted unanimously in favor of a resolution to approve the 22.1 disclosure as drafted with the best available information as of September 2023.

4. Budget Calendar 2024/2025

After a motion by Lloyd Allison, seconded by Monique Fouant, and discussion, the Board of Directors of the Park Tower Condominium Association voted unanimously in favor of a resolution to accept the budget activity calendar for the 2024/2025 fiscal year, as presented by Management.

5. Cable/Internet Bulk Contract Renewal

After a motion by Lloyd Allison, seconded by Sheldon Atovsky, and discussion, the Board of Directors of the Park Tower Condominium Association voted unanimously in favor of a resolution to approve entering a renewal contract for bulk cable and internet service as proposed by ASTOUND Broadband, for a base rate of $41.79 per unit (before taxes and ancillary fees) as negotiated and recommended by the Ad Hoc Cable/Internet Commission, for a period of 5 years, and annual rate increases to the base rate capped at 3.5% after the first year.

6. Waste Removal Contract Renewal

After a motion by Sheldon Atovsky, seconded by Lloyd Allison, the Board of Directors of the Park Tower Condominium Association voted unanimously in favor of a resolution to approve renewal of the waste removal and recycling service contract as proposed by Republic Services for a period of three years, with no increase for year 1, and a 4% increase for years 2 and 3.

7. Commercial Heat Exchanger Project

After a motion by Monique Fouant, seconded by Angie Eden, and discussion, the Board of Directors of the Park Tower Condominium Association voted unanimously in favor of a resolution to approve the add-ons to the Commercial Heat Exchanger Project, for general mechanical area asbestos testing coordinated with Fluid Technologies Pumps and Controls, Inc., at an expense of $7110, and replacement of the insulation encasement of the heat exchanger bundle as proposed by Dettmann Industries, Inc., at an expense of $4,040, to be funded by the reserve.

8. Condenser Motors Bulk Purchase

After a motion by Angie Eden, seconded by Lloyd Allison, and discussion, the Board of Directors of the Park Tower Condominium Association voted unanimously in favor of a resolution to approve the purchase of 40 HVAC convector condenser motors for stock, as proposed by South Side Control Supply Co., at an expense of $242.05 per motor plus tax, to be sold back to Unit Owners as needed for replacements.

9. Security System Server Replacement

After a motion by Lloyd Allison, seconded by Monique Fouant, the Board of Directors of the Park Tower Condominium Association voted unanimously in favor of a resolution to approve the replacement of the security system server, as agreed to by Management and as proposed by Chicago Building Services, Inc., at an expense of $7788.94, to be funded by the reserve.

10. Construction Requests

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 approve the remodeling plans for units 609, 1108, 3201 and 3808 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 

Treasurer’s Report

Board Treasurer Lloyd Allison reviewed the Association’s financial status as reported by the July 2023 Balance Sheet and Statement of Income & Expenses presented by the Habitat Company.

Fund Balances End of July 2023

Operating assets totaled $1,794,560 and the Reserve cash and investments were $4,660,032 for a total of cash and investments of $6,454,592.

July 2023 Revenue and Expenses

Total Operating Revenue: $625,945

Total Operating Expenses: $464,430

Income (Loss) From Garage: $21,644

Contribution To Reserve: $164,975

Total Surplus: $18,184

Management Report

Property Manager Tim Patricio reviewed current business and activity of interest and the latest sales.

ADJOURNMENT

There being no further business, after a motion by Monique Fouant, seconded by Lloyd Allison, the Board of Directors of the Park Tower Condominium Association voted unanimously in favor of a resolution to adjourn the September 11, 2023 Board Meeting at 8:32PM.

 OWNER FORUM

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

The next regular Board Meetings are expected to be scheduled for September 25th and October 9th at 7:30PM. All such meetings are expected to be held in the 2nd Floor Party Room unless otherwise posted.