PTCA 2015 Annual Meeting and June 15th Board Meeting

Monday June 15, 2015 at 7:30pm

5415 North Sheridan Road, 2nd Floor Party Room

Agenda and Report

Call Annual Meeting to Order

The Board President, George Pauley, called the meeting to order at 7:35pm. The tabulators with Picker and Associates reported a quorum of Unit Owners exceeding 20% was either present or represented by proxy to conduct business.

Approval of Minutes: Annual Meeting June 9, 2014

After a motion by Anna Hicks Unit 3901, seconded by Paul Groeninger Unit 4211, the ownership voted in favor of a resolution approving the minutes of the Annual Meeting held on June 2014.

Introduction of Board Members and Election Tabulators

George Pauley introduced the current Board Members, Tom Wartowski (2nd Vice President), Betty Terry-Lundy (Secretary), Michael Parrie (1st Vice President) and Dave Nicosia (Treasurer), Management Supervisor Dave Barnhart, Property Manager Tim Patricio and Assistant Manager Amir Cobalovic, and the Election Tabulators from Picker and Associates, Kate Rappaport and Olya Yashchenko.

Statement of Purpose of Meeting 

George Pauley explained the purpose of the meeting is to elect three Directors for a two-year term and explained the Candidates of Record were Joe Guzzardo, Michael Parrie, George Pauley and Jean Shamo. He indicated this year would be the first in which the Secret Ballot process is used. Ballots will not identify the unit number or owner.

a. Nominations from the Floor

George Pauley asked for any Unit Owners to be nominated as candidates for election from the floor. There were no motions.

b. Final Call for Ballots

After a motion by William Kay Unit 4201, seconded by Laura Carl Unit 3015, the ownership voted in favor of a resolution approving a final call for ballots. The tabulators from Picker and Associates collected the ballots.

Motion to Suspend Annual Meeting

After a motion by Vince DiFruscio Unit 4015, seconded by William Kay Unit 4201, the ownership voted in favor of suspending the Annual Meeting.

OWNER FORUM

The Board and Management addressed questions and feedback from Unit Owners present.

7:58PM – OPEN SESSION

The Board President called the June 15th Board of Directors meeting to order and confirmed all Board Members were present: George Pauley, Board President; Betty Terry-Lundy, Secretary; Tom Wartowski, 2nd Vice President; Michael Parrie, 1st Vice President; David Nicosia, Treasurer. Also present from Management: David Barnhart, DK Condo Property Supervisor; Timothy Patricio, Property Manager; Amir Cobalovic, Assistant Property Manager.

Committee Reports

Budget & Finance Committee Chair Paul Groeninger reported on matters considered at the Committee Meeting on June 10th; they considered and voted to recommend a proposal by Management to eliminate parking license deposits; he reminded the Board the committee recommended the board handle the anticipated budget surplus from 2014/2015 by withholding 25% as operating contingency funds and 75% be contributed to the Reserve Fund; the Committee’s next meeting is expected on September 23rd, though they may have a meeting to review the audit between now and then.

ASCO Liaison Dave Nicosia indicated there would be an ASCO meeting at Park Tower in the Party Room on June 16th, at 7pm. The primary topic is neighborhood security.

Health Club Committee Chair Ken Anderson mentioned the Board has a written report, and that he expected the property manager to review the recommendations from the Committee for renovating the health club.

Board Report: George Pauley

The Board President thanked outgoing Board Member Tom Wartowski for his service on the Board.

Action Items – New Business

Minutes – Board Meeting June 1, 2015

After a motion by Betty Terry-Lundy, seconded by Dave Nicosia, the Board of Directors voted unanimously to pass a resolution approving the minutes from the Board Meeting held on Monday June 1st, 2015 as presented by Property Manager Tim Patricio.

Health Club Improvement Recommendations

Board President George Pauley and Property Manager Tim Patricio discussed recommendations from the Health Club Committee to renovate the Health Club, including switching the current weight room into the cardio room, moving the weight room to racquetball court number 1 (upgraded for lighting, air circulation and flooring to handle weight equipment), replacing almost all equipment under a lease and completing a gut rehab of both the men’s and women’s locker room. After discussion, a motion by Tom Wartowski seconded by Dave Nicosia, and further discussion, the Board of Directors voted unanimously to pass a resolution accepting the recommendations of the Committee and submit them to the Budget & Finance Committee to consider a plan for funding the project.

Construction Requests

After a motion by Dave Nicosia, seconded by Michael Parrie, the Board of Directors voted unanimously to pass a resolution approving the remodeling plans of units 5304 as submitted by the unit owner, following the recommendations of the chief engineer, and as outlined in their written specifications and in accordance with the Rules and Regulations and remodeling guidelines of the Park Tower Condo Association.

Schedule Next Board Meeting

After a motion by Michael Parrie, seconded by George Pauley, the Board of Directors voted unanimously to pass a resolution to schedule the next Board of Directors meeting date and time for Monday July 13th at 7:30pm.

Business Reports

Treasurer’s Report: David Nicosia

Board Treasurer Dave Nicosia reported the Operating Fund balance at the end of April was $667,297, and the Reserve Fund balance was $1,550,001, for total cash and investments of $2,217,298.

Management Report: Tim Patricio

Property Manager Tim Patricio advised owners to expect notices announcing the coming plumbing project, expected to commence on Monday June 22, as the contractor begins constructing the platform from which work will be done on the plumbing embedded in the lobby ceiling.

ADJOURNMENT

There being no further business, after a motion by Dave Nicosia, seconded by Betty Terry-Lundy, the Board of Directors voted unanimously to pass a resolution adjourning the June 15, 2015 Board Meeting at 8:48PM.

Reconvene Annual Meeting

The Board President George Pauley called the 2015 Annual Meeting back to order at 8:48PM

Announcement of Election Results

The Election Tabulators presented the preliminary quorum and election results, which were announced by George Pauley as follows:

The total meeting quorum was 37%.

The election results:

Joe Guzzardo 20.2%

Michael Parrie 29.8%

George Pauley 30.8%

Jean Shamo 29.9%

Official certified results will be mailed to the Association and posted on the bulletin board across from the cleaners.

ADJOURNMENT

There being no further business to conduct, after a motion by William Kay Unit 4201, seconded by Laura Carl Unit 3015, the ownership voted in favor to adjourn the 2015 Annual Meeting at 8:50PM.

OWNER FORUM

The Board and Management addressed questions and feedback from Unit Owners present at the meeting.

IMPORTANT NOTE: The “Post Meeting Roundup” is neither official meeting minutes, nor are they 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 to Owners.