PTCA Board Meeting Monday April 11th
April 1, 2022
BOARD OF DIRECTORS MEETING
Monday April 11, 2022 7:30PM
Agenda & Report
6:30PM – CLOSED SESSION
The Board is scheduled to meet to discuss rule violations, pending litigation, Unit Owner account issues and personnel matters.
OWNER FORUM – 7:30PM
The Board of Directors and Management will welcome and address feedback and questions from Unit Owners.
CALL TO ORDER – Board Meeting Open Session
The meeting chair, expected to be Board President Michael Parrie, will call the meeting to order.
Confirm Quorum
The meeting chair will confirm a quorum of Board Members is present. Board Members and representatives from Management will be introduced.
Commission Reports
Commission chairs or members so designated will be invited to update the Board and Owners on business and activities.
Attached to the report for Board Review, are reports from the last two Home Improvement Commission Meetings.
Board Report
The meeting chair may give a report on current Association business and activities of interest.
Action Items
- Closed Session Business
This agenda item is provided for any resolutions proposed resulting from Closed Session discussion.
- Minutes – Board Meeting March 14, 2022
Attached to the meeting report for Board Member review, are the proposed minutes for the Board of Directors Meeting held on Monday March 14, 2022, as submitted by Property Manager Timothy Patricio, for Board consideration.
A sample motion: “I move the Board of Directors of the Park Tower Condo Association hereby approves the minutes from the Board Meeting held on Monday March 14, 2022.”
- Updated 22.1 Disclosure
Attached to the report for Board Member review is the updated 22.1 disclosure for formal Board approval.
The 22.1 Disclosure, is a standard document we provide upon request in the event of any sale and make available for inspection to the prospective purchaser. This incorporates:
(1) A copy of the Declaration, by-laws, other condominium instruments and any rules and regulations.
(2) A statement of any liens, including a statement of the account of the unit setting forth the amounts of unpaid assessments and other charges due and owing as authorized and limited by the provisions of Section 9 of this Act or the condominium instruments.
(3) A statement of any capital expenditures anticipated by the unit owner’s association within the current or succeeding two fiscal years.
(4) A statement of the status and amount of any reserve for replacement fund and any portion of such fund earmarked for any specified project by the Board of Managers.
(5) A copy of the statement of financial condition of the unit owner’s association for the last fiscal year for which such statement is available.
(6) A statement of the status of any pending suits or judgments in which the unit owner’s association is a party.
(7) A statement setting forth what insurance coverage is provided for all unit owners by the unit owner’s association.
(8) A statement that any improvements or alterations made to the unit, or the limited common elements assigned thereto, by the prior unit owner are in good faith believed to be in compliance with the condominium instruments.
(9) The identity and mailing address of the principal officer of the unit owner’s association or of the other officer or agent as is specifically designated to receive notices.
As a matter of routine, we continue to update this regularly, and will present it periodically for Board review and formal approval.
A sample motion: “I move the Board of Directors of the Park Tower Condo Association approves the 22.1 disclosure as drafted with the best available information through February 2022.”
- Package Room Procedures
The purpose of this Action Item is for the Board to have an opportunity to discuss some procedural questions and suggestions shared by volunteers working in the package room.
Attached to the report for Board Review, is e-mail correspondence referencing some of the suggestions for consideration.
- Social Commission Request
The Social Commission has requested to begin using the PTCA Text Message Service. Right now we have 3 message groups – Alerts, Maintenance and Notices. Users opt in and out at their convenience. Our suggestion would be to create a new 4th group – perhaps PTSocial?
To do this would add about $15 per month to the monthly service.
A sample motion: “I move the Board of Directors of the Park Tower Condo Association approves adding a new text message group to our monthly ‘Cheapest Texting’ service, for use by the Social Commission.”
- 2nd Floor Deck Color
The purpose of this action item is to formally ratify the stain color choice for the 2nd floor deck. Repairs are expected to begin this month, including full re-staining. The color was recommended by the Health Club Commission, and ordered after Management consulted with each Board Member. It would be appropriate for the Board to pass a resolution supporting the color change.
The color sample sheet with the selection noted is attached to the report for Board review.
A sample motion: “I move the Board of Directors of the Park Tower Condo Association approves the color change recommended by the Home Improvement Commission for staining of the 2nd Floor Deck, with Sherwin Williams ‘Traditional Stone Hedge’ stain color.”
- Pool Area Flooring
The purpose of this action item is to formally accept the material and color sample for use in replacement of the existing PVC flooring in the pool area and walkway. An epoxy product was chosen, and physical samples will be brought to the meeting for the Board to review. A photo is attached to the report for Board review. Both the Health Club and Home Improvement Commission narrowed the choices down to these four samples, with the Health Club Commission making “1st” and “2nd” choice preferences – “Cool Gray” and “Salt and Pepper” respectively.
Also, we’ve started the bidding process, but the proposals are not yet apples to apples enough to make a final recommendation. As they stand now, they are attached for review:
Elite Concrete $29,400
Epoxy Floor Chicago $25,000
MPD Group $68,400
The team was very impressed with the rep from Elite Concrete. The engineer reported that he really had his act together and seemed to “know his stuff”.
The budget for this effort is $104,000. We do believe it would be wise to allow a provision of $10,000 for unknown conditions. We are already aware of a couple locations where concrete repairs will be needed, but we won’t know in entirety what we will find until the PVC floor is brought up. While we continue working on the proposals, we suggest the Board pass a resolution with a budget so we can move forward.
A sample motion: “I move the Board of Directors of the Park Tower Condo Association approves replacement of the pool area and walkway floor with the epoxy product and finish as recommended by the Health Club Commission, and chooses the _________ color sample, and authorizes management to proceed with a reputable and properly insured contractor at a cost not to exceed $40,000, after the bidding process is completed.”
- Professional Cooling Tower Cleaning
Attached to the report for Board Review are proposals for the budgeted professional cleaning of the cooling tower. As discussed during the budget planning, the staff requested that at their present age, a more specialized cleaning be done annually. The proposals are as follows
First Point $8560
Northern W HVAC $6614
RMC Mechanical $7985
The budget for this effort is $7000. We recommend the low bidder, Northern Weathermakers.
A sample motion: “I move the Board of Directors of the Park Tower Condo Association approves professional cleaning of the Cooling Tower as proposed by Northern Weathermakers HVAC, Inc., as proposed at an expense of $6614.”
- 55th Floor Hallway Lighting
As the Home Improvement Commission has ramped up plans to address the Hallway Decorating effort on the outlook for 2023, they’ve continued looking at the lighting closely. While the light fixtures were chosen, the overwhelming feedback has been that it’s much too bright. As reported, they tested 3 different lighting levels and have decided to recommend proceeding with the 12 watt option.
The Board should formally approve the change, and a budget to order the supplies. The anticipated expense for the order is $4,666.88.
A sample motion: “I move the Board of Directors of the Park Tower Condo Association approves changing the 55th floor lighting to the 12 watt option as recommended by the Home Improvement Commission, as proposed at an expense of $4666.88.”
- Construction Requests
Attached to the report for Board Member review are remodeling packets for the following Unit Owners’ construction projects:
Unit 3215 Bathroom and Kitchen Remodel
Unit 3501 Hard Flooring
Unit 3905 Bathroom Remodel
Unit 4805 Hard Flooring, Kitchen & Bathroom Remodel
A sample motion follows: “I move the Board of Directors approves the remodeling plans of units 3215, 3501, 3905, and 4805 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
Attached to the Report for Board Review is the February 2022 Balance Sheet and Statement of Income & Expenses as reported by the Habitat Company.
Fund Balances End of February 2022
Operating assets totaled $1,468,152, and the Reserve cash and investments were $3,387,365 for a total of cash and investments of $4,855,517.
February 2022 Revenue and Expenses
Total Operating Revenue: $575,669
Total Operating Expenses: $500,034
Income (Loss) From Garage: $36,340
Contribution To Reserve: $146,508
Total Surplus/(Deficit): ($34,534)
- Management Report
Business and Activities – Property Manager Tim Patricio will review current business and activities of interest.
Engineer’s Report – Property Manager Tim Patricio will review activity of interest from the Maintenance team.
Recent Sales Activity – Property Manager Tim Patricio will review the most recent Sales. The current Sales & Lease reports are attached to the meeting report for Board review.
ADJOURNMENT
There being no further business, the Board will consider adjourning the meeting.
A sample motion: “I move the Board of Directors adjourns the April 11, 2022 Board Meeting at ____PM.”
OWNER FORUM
The Board of Directors and Management will welcome and address feedback and questions from Unit Owners.
The next Board Meetings are scheduled for Monday April 25th and May 9th at 7:30PM. Also, Owners and Residents are welcome to join us for the next Resident Forum on Thursday April 28th at 7pm. At this time, all such events are anticipated to be held in the 2nd Floor Party Room.
About the Author: Tim Patricio
Park Tower Horizons
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