Monday May 13, 2024 7:30PM
2nd Floor Party Room
6:30PM – CLOSED SESSION
The Board is scheduled to meet to discuss rule violations, pending litigation, Unit Owner account issues and personnel matters.
7:30PM – OWNER FORUM
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 is the most recent Home Improvement Commission report.
The meeting chair may give a report on current Association business and activities of interest.
This agenda item is provided for any resolutions proposed resulting from Closed Session discussion.
Attached to the meeting report for Board Member review, are the proposed minutes for the Board of Directors Meeting held on Monday April 8, 2024, 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 April 8, 2024.”
Attached to the report for Board Member review is the updated 22.1 disclosure through March 2024 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:
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 March 2024.”
Previously distributed to the Board were the final meeting notes from the Ad-hoc Rules Review Commission, as well as the final Rules Handbook mark-up. The purpose of this action item is for the Board to make a plan for completing a review and commenting on the proposed amendments to the Rules as presented by the Ad-hoc Commission. A final mark-up should be made following Board review with any edits agreed to.
The next steps would be to submit the final mark-up to legal counsel for review and comment. The Board would need to address any comments from counsel and submit the final revised handbook to the ownership for review, with a notice for a Special Meeting of the Unit Owners to review the proposed changes.
The next noticed Board Meetings are June 10th, June 24th and July 8th. It is conceivable, if we can get the mark-up to the attorney immediately following the June 10th Board Meeting (or sooner), that we could get counsel’s comments back in time for the Board to do a final review and approve distribution on July 8th. We could then couple the mailing with the 2024/2025 Board Meetings’ Notice.
Events over the past couple months both in the neighborhood and in the building, have heightened our concern over some weak spots in our surveillance network. Fortunately we have not had anything grave or severe happen on Park Tower Property or within the building. However, the severity of external events underscores the importance of being safe rather than sorry. Adding cameras at the following locations would improve deterrence and any investigations – Note – the pictures are from a digital camera and only meant to identify the location for you; the actual surveillance camera placement and angles will be maximized and cover more space:
Plaza North Mall Entrance (outside – directional)
This is perhaps the most important location where there are multiple openings to the building but little clear coverage. Also, it is a lot of space where you could have uninvited individuals loitering.
Plaza North Lobby Entrance (outside – directional)
This opening into the building has no coverage, and someone could relatively easily enter and tailgate through the service area and into the Tower.
South Mall Entrance (outside – directional)
While there is coverage inside the mall, there is nothing covering this driveway. Recent events might have been met with some deterrence had there been a camera here.
1P Garage North Intersection (360)
We propose a 360 camera here (so you’ll see much much more than what is depicted here), where there are many valet vehicles. This would be helpful at times with damage claims, but more importantly deterring and/or assisting with vehicle theft or trespassing into the garage.
1P Garage South Intersection (Directional)
This location is near the storage locker structure, but covers many blind spots should a bad actor enter.
2P Garage South Intersection (Directional)
Same as the previous camera.
Garage Entrance Facing East (Directional)
There is a camera on the other side of the driveway entrance facing west. But the entire corner under this location and the driveway behind it adjacent to the park entrance is a blind spot. Coverage here could have assisted with several past events.
We concede that cameras don’t prevent everything. We see this on the news and social media. However, for what they don’t deter they give us a powerful tool to investigate and resolve events. Time and time again, we have been able to solve mysteries and challenges that have come up with the help of the improvements we made to surveillance over the past decade.
Last year, the Association budgeted $39,300 in reserve funds for capital repairs to the Security System. The only issue identified was a bad server which was replaced. This resulted in an expense of only $7800. So about $31,500 remained for any further efforts. We are working on a bid now with our current service provider and maintenance contractor Chicago Building Services. The directional cameras will fall around $600 apiece and the 360 camera about $900. The biggest variable should be any hardware, memory improvements, cables and parts that are needed.
(We also have $11,300 budgeted in Operating funds for Security Equipment. That includes routine maintenance for the surveillance and fob system, and the AED units. About $5000 is intended for equipment replacement. Not enough for this effort entirely.)
We expect to have more in time for the meeting.
What our team is mostly looking for, is whether the Board is interested in us continuing to pursue this effort and if so whether you have feedback on our location choices and perhaps even other suggestions.
Attached to the report for Board review are the following bids for the budgeted replacement of the Fin Tube Heat Pump, serving the perimeter heating network:
Fluid Technologies $33,440
Tramco Pump Company $43,457
We are expecting one more proposal in time for the Board Meeting.
This effort was budgeted for $33,000 from the reserve fund.
A sample motion: “I move the Park Tower Condo Board of Directors hereby approves the replacement of the Fin Tube Heat Pump as proposed by _______________ at an expense of ___________, to be funded by the Reserve fund.”
Our team reported problems while performing the periodic testing of the new Riser. The testing is very simple. They take sections at a time and fill them up after the plumbing has been completed, and check for any leaking or loss of pressure. The good news is that the new Riser and branchlines appear to be functioning perfectly. However, they were losing pressure and found what in many cases appears to be pin hole leaks within the convector coils. (Very small leaks.) Our present theory is that being over 50 years old, these coils may have developed leaks over time. Those leaks simply dripped into the drain pans. No one would really have noticed them, and since then likely became clogged by rust and debris in the lines. The work we are doing now, and particularly the testing has flushed this debris away. With the lines now free of debris and the new copper pipes not being prone to such deterioration, there is nothing in the lines to stop up these pin holes.
When we get water back in the lines, these leaks will return unabated, so we cannot keep these coils. With the volume, we will lose too much water and the chemicals that treat the water in the system. To replace them, we have an initial bid (attached to the report for Board review) but we are expecting two more.
Corcoran Heating & Air ’01 Units $3,647.95
’03 Units $3907.95
This is for a 6 week lead time. This vendor indicated they can rush the order (2 weeks) and delivery, for $450 per unit. For the ’01 units that’s $4,097.95. For the ’03 units, $4357.95.
We are waiting for bids from WJO Chicago and Northern Weathermakers.
As of now, the count stands at 21 units out of 46 that have been investigated. So almost half. It would be safe to assume we may be looking at around 50 of these requiring replacement. The total amount will depend on how many of each unit (’01 vs ’03), and whether we choose to expedite.
Also, typically, when coils have failed, since they are unique in most units and serve only those units, they have been considered a unit owner expense. The Board should consider how to deal with this Riser and potentially address whether going forward this is a building expense rather than a Unit Owner expense. For limited common elements, the Board can make that choice.
More information is expected between now and the meeting, and any necessary motion or motions can be proposed following discussion.
Attached to the report for Board Member review are remodeling packets for the following Unit Owners’ construction projects:
2812 – Vinyl Flooring Install
3314 – Window Film Install
4801 – Bathroom Remodel and Washer/Dryer Install
A sample motion follows: “I move the Board of Directors approves the remodeling plans for 2812, 3314 and 4801 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 March 2024 Balance Sheet and Statement of Income & Expenses as reported by the Habitat Company.
Fund Balances End of March 2024
Operating assets totaled $1,727,175 and the Reserve cash and investments were $4,893,085 for a total of cash and investments of $6,620,260.
March 2024 Revenue and Expenses
Total Operating Revenue: $640,018
Total Operating Expenses: $452,859
Income (Loss) From Garage: $30,443
Contribution To Reserve: $172,233
Total Surplus/(Deficit): $45,369
Management Report
Attached to the report for Board Review is the updated Monthly Activity Report, and the Sales and Lease Reports.
ADJOURNMENT
There being no further business, the Board will consider adjourning the meeting.
A sample motion: “I move the Board of Directors adjourns the May 13, 2024 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 June 10th (Following the 2024 PTCA Annual Meeting and Election) and June 24th 7:30PM. At this time, all such events are anticipated to be held in the 2nd Floor Party Room unless otherwise posted.
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