A signed copy of these and all minutes going back to the 1980’s are available from the Management Office upon request.
Board Members Present
Becky Rossof, President; Edlynne Sillman, 1st Vice President; Ness Hanna, Secretary; Rosalie Sutcher, Treasurer; Herbert Hellauer, 2nd Vice President
Julie McCracken, Property Supervisor; Christina Epple, Property Manager; Mavis Mather, Administrative Assistant
These are the minutes of the Board of Directors of the PARK TOWER CONDOMINIUM ASSOCIATION, an Illinois not-for-profit corporation.
Call to Order
Becky Rossof chaired and called this meeting to order at 7:11 pm.
Unit Owner Comments
Fifteen minutes of unit owner comments followed.
Minutes May 26, 2004
At 7:26 p.m. the Board Meeting commenced with consideration of the minutes of the Board of Directors’ meeting held on Wednesday, May 26, 2004. Upon due motion by Ness Hanna and seconded with clarifications by Edlynne Sillman, the Board voted unanimously to approve the minutes of the May 26, 2004 Board meeting.
Rosalie Sutcher stated that according to the May 31, 2004 Financial Statements there was an operating cash fund of $1,095,386. The account at Cosmopolitan Bank has reached $57,197. The money market account totaled $281,366. Twenty Certificates of Deposit totaled $1,963,201. The total of all investments and accounts was $2,497,143.
Christina Epple, Property Manager provided the following information from the Management Report:
Certificate of Deposit Resolved to ratify the approval of transferring 100K from State Farm account to Intervest National Bank in the amount of $97,611.10 to set up a replacement reserve account at 2.45%. Upon due motion by Rosalie Sutcher and seconded by Nessim Hanna, the Board voted unanimously to ratify the transfer of funds.
Request to remodel units 4901-4903 (joined units) and 1707-1706 (joined units) Resolved to ratify the approval of remodeling specifications as submitted by the unit owner of 4901/4903 and the unit owner of 1707/1706. Upon due motion by Edlynne Sillman and seconded by Nessim Hanna, the Board voted to ratify the request for remodeling.
Increasing Security Resolved to have all guests be announced and to print their name and the unit number they are visiting; additionally all contractors must show id before being allowed into the building. Upon due motion by Edlynne Sillman and seconded by Nessim Hanna, the Board voted unanimously to ratify the resolution for increased security.
The Home Improvement Committee met on Thursday, June 24, 2004. They discussed the remodeling of car #6.
The Social Committee will be holding the annual Independence Day Party on July 4th from 5:30 to 8:30 PM, fireworks to follow.
The Health Club Committee reported on the success of the Open House held on June 26th. The Health Club announced that the Park Tower Fitness Center will be a free trial class offered on July 6th for Body Sculpting, Aquatic Aerobics, and Pilates.
Upon due motion by Herbert Hellauer and seconded by Edlynne Sillman the meeting adjourned at 8:15 pm.
Becky Rossof, President
Nessim Hanna, Secretary