IMPORTANT NOTE: The “Post Meeting Roundup” is neither official meeting minutes, nor is it 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.

PARK TOWER CONDOMINIUM ASSOCIATION

2016 ANNUAL MEETING and

June 2016 Board Meeting

Monday June 13, 2016 7:30 PM

Party Room 2nd Floor

Annual Meeting Call To Order

The Meeting Chair, Board Vice President Michael Parrie, called the 2016 Annual Meeting to order. He asked the auditor, Olya Yashchenko to confirm if a quorum was present, and she did.

Approval of Minutes: Annual Meeting June 15, 2015

Michael Parrie called for a motion to approve the minutes of the 2015 Annual Meeting. Paul Groeninger (4211) moved and Patrick Wooldridge (4205-06) seconded, and after discussion and amended motion, the ownership accepted a resolution by a voice vote approving the minutes of the 2015 as amended. The ayes had it.

Introduction of Board Members, Management and Election Tabulator

Board Vice President Michael Parrie introduced the current Board Members, representatives from Management and Election Tabulator from the Association’s auditing firm Picker and Associates present at the meeting. Present from the Board was David Nicosia, 2nd Vice President; Jean Shamo, Treasurer; Michael Parrie, Vice President; and George Pauley, Board President (via speakerphone). Absent from the Board was Betty Terry-Lundy, Secretary. Present from Management was Dave Barnhart, Property Supervisor; Timothy Patricio, Property Manager; and Amir Cobalovic, Assistant Manager. Present from the condo auditing firm, Picker and Associates, was Olya Yashchenko, CPA; and Elizabeth Villaflor.

Statement of Purpose of Meeting:

Board Vice President Michael Parrie stated the purpose of the Annual Meeting. The purpose of the meeting is to elect two Unit Owners to the Board of Directors to serve a two-year term. He inquired whether there were any questions or comments from the Unit Owners present. There were none.

Introduction of Candidates

Board Vice President Michael Parrie announced the Candidates of Record are Monique Fouant, Joseph Guzzardo, David Nicosia, and Mehrshid Toosi.

He then called for any nominations from the floor. There were no motions.

He then called for a motion for final call for ballots. Patrick Wooldridge (4205-06) moved, and Paul Groeninger (4211) seconded, and the ownership accepted a resolution by a voice vote to approve making a final call for ballots at 7:36PM. The ayes had it.

Motion to Suspend Annual Meeting

Board Vice President Michael Parrie called for a motion to suspend the meeting so the votes may be tallied by the auditor, and the Board of Directors may hold the June Board Meeting.

Laura Carl (3015) moved and Paul Groeninger (4211) seconded, and the ownership accepted a resolution by a voice vote to approve suspending the 2016 Park Tower Condo Association Annual Meeting to allow the votes to be tallied and for the Board to hold the June Board Meeting at 7:37PM. The ayes had it.

BOARD OF DIRECTORS MEETING MANAGEMENT REPORT

Monday June 13, 2016

Call to Order/Confirm Quorum

Board Vice President Michael Parrie called the meeting to order and confirmed a quorum of members is present, as introduced in Open Session of the Annual Meeting.

Committee Reports

Budget and Finance Committee Chair Paul Groeninger advised the Committee would be holding a meeting on Wednesday June 15th, at 4:30pm in the Party Room. The primary matter for discussion is the draft of the audit by Picker and Associates. He suggested the Board consider scheduling a meeting before the end of June if possible, to consider whether to accept the audit.

Health Club Committee Chair Ken Anderson advised the Committee would be holding a meeting on Tuesday June 14th at 4pm in the Party Room. The primary matter for discussion is the upcoming Open Houses for the Health Club. He encouraged members and non-members who want to learn more about the new facilities and equipment to attend. Friday June 17, 6 to 9pm and Saturday June 18, 10am to 4pm.

Board Report

Board Vice President Michael Parrie discussed the upcoming closure of the laundry room from Wednesday June 15th through Thursday June 23rd. The purpose of the closure is to switch laundry room vendors and replace the equipment.  Information on how to receive refunds for your current VTM card have been posted and must be mailed by Saturday, July 16^th.  Open houses for Family Pride Wash have been tentatively scheduled for Thursday, June 23^rd and Friday, June 24^th, for residents to meet with our reps and learn about the new equipment and features available. Packets for requesting the refund are available from the Management Office.

He said regarding the health club, the board would like to thank management, the maintenance team, and the health club committee for seeing this important project be completed.

He said the board would like to extend its condolences to the family of Steve Koga, a longtime resident who served on several ad-hoc committees at Park Tower and attended many board meetings, and to the family of Michael Ravnic, a Park Tower employee who provided service to many of us in the garage since 2007 and even before then as part of Standard Parking.

He thanked Betty Terry-Lundy for her 6 years of service on the board.

Action Items – New Business

1. Closed Session Business

Michael Parrie moved, and Dave Nicosia seconded, and the Board of Directors unanimously voted in favor of resolution to approve reducing a fine in the amount of $4,150 for a Unit Owner who has proven requested repairs have been completed.

Michael Parrie moved, and Dave Nicosia seconded, and the Board of Directors unanimously voted in favor of a resolution to approve fining 13 Unit Owners $100 for the first month, and to double thereafter for each month, up to the maximum fine of $1000, for not providing adequate proof of insurance.

Michael Parrie moved, and Dave Nicosia seconded, and the Board of Directors unanimously voted in favor of a resolution to approve fining a Unit Owner $250 for excessive odors.

2. Minutes – Board Meeting May 9, 2016

Dave Nicosia moved, and Jean Shamo seconded, and the Board of Directors voted in favor of a resolution to approve the minutes of the Board Meeting held on Monday May 9, 2016. The vote was 3 in favor and 1 abstention. Michael Parrie abstained.

3. Pest Inspection Contract

George Pauley moved, and Jean Shamo seconded, and the Board of Directors voted in favor of a resolution to approve the bed bug inspection contract with AEGIS Pest Management, as proposed.The vote was 3 in favor and 1 abstention. Dave Nicosia abstained.

4. Interest In Amazon Lockers

The Board of Directors instructed Management to continue working out details and plans for presentation of a proposal to install Amazon shipping lockers in the mall, including identify a location, exact dimensions and a proposed contract for consideration.

5. Construction Requests

Michael Parrie moved, and Jean Shamo seconded, and the Board of Directors voted unanimously in favor of a resolution to approve the remodeling plans of units 5515, 5408, 5101, 4514, and 4304 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 Jean Shamo reviewed the ending Fund Balances and Income and Expense activity for the month of April 2016.

Operating Funds $364,533 (decrease of $34,250 from March)

Reserve Funds $1,723,964 (increase of $112,295)

Total Cash and Investments $2,088,497 (increase of $78,044)

Total March Income: $475,242

Total March Expenses: $371,372

Income From Garage: $28,247

Contribution To Reserve: $122,742

Total Surplus or (Deficit): $9,376

2.  Management Report

Property Manager Tim Patricio discussed the upcoming hot water heater project, set to begin on Monday June 20th. Minimal water outages are expected. He also reviewed the monthly activity and sales and leasing reports for April 2016.

 ADJOURNMENT

Dave Nicosia moved, and Jean Shamo seconded, and the Board of Directors voted unanimously in favor of a resolution to approve adjourning the June 13, 2016 Board Meeting at 8:03PM.

OWNER FORUM

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

Reconvene Annual Meeting

Board Vice President Michael Parrie called the 2016 Annual Meeting back to order at 8:14PM.

Announcement of Election Results

Board Vice President Michael Parrie requested the election results to be delivered and summarized by the Election Tabulator.

Picker and Associates CPA delivered the results as follows:

The total quorum was 34.44%%

The following Unit Owners we’re elected to fill the two open positions, followed by their percentage of the vote:

Monique Fouant – 31.45%

Dave Nicosia – 23.25%

The following Unit Owners also received votes:

Mehrshid Toosi – 7.5%

Joseph Guzzardo – 6.24%

Adjournment

There being no further business, Board Vice President Michael Parrie called for a motion to adjourn the 2016 Annual Meeting.

Paul Groeninger (4211) moved and Monique Fouant (4701) seconded and the Ownership accepted a resolution by a voice vote to approved adjourning the Park Tower Condo Association 2016 Annual Meeting at 8:18PM. The ayes had it.