George Pauley, President; Laura Cossa, 1 st Vice President; Carlos Vargas, 2nd Vice President; Betty Terry-Lundy, Secretary; David Nicosia, Treasurer; lam Novak, Property Supervisor; Tim Patricio, Property Manager; Mavis Mather,Assistant Manager Business Operations
Call to Order at 7:52 pm
Roll Call Five Board Members were present constituting a Quorum as defined by the Association’s Declarations and the Illinois Condominium Property Act.
ASCO Report (David Nicosia)
We hosted an ASCO meeting with the Alderman Osterman last Tuesday here in the party room. In addition to the Alderman, Gary McCarty, the police superintendent was here as well. He did not stay long, but assured us that his goal is to make our streets safer. Alderman Osterman also updated us that the Edgewater Library is due to open on June 22nd and the Bluewater project across the street is on hold.
Committee (Scott Schmidtke)
The Home Improvement Committee met on April 22n . We had a walk through with the representative from WJE and discussed the drains and what is under the terrazzo. In addition we narrowed down our preliminary choices for the replacement with the decisions to be finalized later. We also looked at the samples for the 2nd floor membrane and made a choise for the mock-up that was done outside. The last thing that we discussed was the party room floor. We have made some selections for tile and flooring. We are recommending hardwood flooring with a tile section under the heating registers and from the entrance door to the outside door to prevent this area from reflecting the wear it takes from the July 4th party as well as other gatherings.
Upon due motion by Carlos Vargas and seconded by David Nicosia, the Board voted unanimously to add Party Room Floor Replacement to the agenda.
Adhoc Cable Committee (David Nicosia)
We are looking to reform the Ad-Hoc Cable Committee based upon some upcoming changes with RCN.
Motions from Closed Session
Upon due motion by Carlos Vargas and seconded by David Nicosia, the Board voted unanimousl to ratif the a roval of the decisions made in closed
Minutes April 8, 2013
Upon due motion by Betty Terry-Lundy and seconded by David Nicosia, the Board voted unanimously to approve the minutes from the April 8, 2013 Board Meeting.
2nd Floor Plumbing
Upon due motion by Betty Terry-Lundy and seconded by David Nicosia, the Board voted unanimously to ratify the decision by management to treat the flushing and repairs to the kitchen drain lines as an emergency repair.
2 nd Floor Membrane
Upon due motion by Laura Cossa and seconded by David Nicosia, the Board voted unanimously to approve the choice of the medium gray color with medium sand disbursement for the 2nd floor membrane.
Party Room Floor
Upon due motion by Laura Cossa and seconded by David Nicosia, the Board voted unanimously to approve the Home Improvement Committee’s recommendation for the replacement of the party room floor at a budget not to exceed $5,000.00.
Upon due motion by Carlos Vargas and seconded by David Nicosia, the Board voted unanimously to approve assigning a second premium parking space to Zip Car for $130.00 per space.
Garage Power Washing
Upon due motion by Laura Cossa and seconded by David Nicosia, the Board voted to approve Skyline Services to perform the two annual garage power washings at a cost of $4,300 per wash. George Pauley, Betty Terry-Lundy, and David Nicosia voted in favor; Laura Cossa and Carlos Vargas abstained; the motion passed.
Upon due motion by Betty Terry-Lundy and seconded by David Nicosia, the Board voted unanimously to appoint the following owners to the Election Committee: William Kay, Nancy Ledvina, Homer Longoria, and Georgie Nowak, and Paul Groeninger to serve as the Election Committee Chairman.
RCN Customer Service
Upon due motion by Carlos Vargas and seconded by David Nicosia, the Board voted to exonerate all Management and maintenance personnel from accepting and or responding to all inquiries about the cable service provided by RCN; as our cable provider RCN needs to be called directly for all problems and or information relating to cable service as well as all internet and phone problems. Carlos Vargas and David Nicosia voted in favor; George Pauley, Laura Cossa, and Betty Terry-Lundy voted against; the motion failed.
Upon due motion by Betty Terry-Lundy and seconded by Laura Cossa, the Board voted unanimously to approve the remodeling of units 1407, 1609, 4208, and 5201, as submitted by the 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.
Treasurers Report (David Nicosia)
As of March 31, 2013 the total operating cash was $283,310.48. The total of all operating reserves was $50,975.23. The total of all operating cash and investments was $288,285.71. The total of the Barrington Bank Max Safe reserve account was $695,665.52. The total of all replacement reserve
investments was $366,372.30. The total of all replacement reserve funds was $1,062,037.82. The total of all cash and investments was $1, 351,323.53.
Management Report (Tim Patricio)
A couple of things. First we have completed the emergency repairs to the kitchen drain lines and have repaired the ceiling in the lobby as well as the ceiling in the kitchen area of the party room. We expect to have an updated total from the cost of the project at the June Board Meeting.
The HVAC injector project has been completed and we have submitted all the necessary documentation for the $20,000 rebate from Peoples Energy.
An update on the terrazzo and driveway project — WJE is in the final phase for compiling the drawings and specifications for this project. Once these are completed we will have a meeting with the Home Improvement Committee and Board to review.
Finally, BASF will be here on Wednesday to review the mockup outside of the party room. If everything meets their requirements we will begin the project on the south side, then around by the lake, and finally the north west side. We anticipate this project to last about 8 weeks, weather depending.
For the monthly activity, in the month of March there were 43 work orders totaling $3,525 in charges and 153 non-charge work orders completed. There are 266 health club memberships with a monthly income of $7,169. There is currently no wait list for valet parking, 28 people on the waitlist for self-parking, and 54 people on the wait list for 2P parking. There were 65 late fees in the month of March for a total charge of $3,900. For March there were 6,017 therms of gas in storage at a cost of $0.56 per therm.
There were four sales in April, a studio for $90,000, a smaller I-bedroom unit for $95,000, a 2-bedroom unit for $170,000, and another 2-bedroom unit for $273,000.00. Total sales to date are 5 with an average price of $128,111.
Board Report (George Pauley)
This is a business meeting. It needs to be handled as a business meeting. People who do not have the floor need to not speak. If people wish to yell or scream at me or any other Board member, it is unacceptable behavior. I do not sit here to be abused by people in the audience. The next time somebody screams in a meeting, they will be removed. It will not be tolerated.
Upon due motion by Laura Cossa and seconded by David Nicosia , the meeting adjourned at 9:05 pm.
Signed (as seen on pdf, clickable at upper right corner of these minutes)
George Pauley, President
Betty Terry-Lundy, Secretary