Roundup Report
Important Note – The Meeting Roundup Report is provided as a courtesy for Owners to review business the Board considered and conducted at a meeting. This is not intended to replace actual meeting minutes. Minutes for each Board Meeting are typically drafted after that meeting and approved at the next regularly scheduled meeting. Then they are posted in the PT Condo Online Library and otherwise available upon request from the Management Office.
6:30PM – CLOSED SESSION
The Board met to discuss rule violations, pending litigation, Unit Owner account issues and personnel matters.
7:30PM – OWNER FORUM
The Board of Directors and management welcomed and addressed feedback and questions from Unit Owners.
OPEN SESSION CALL TO ORDER – Confirm Quorum
The meeting chair, Board President Michael Parrie, called the meeting to order at 7:33pm.
Confirm Quorum
The meeting chair confirmed a quorum of Board Members is present. Present from the Board of Directors was Michael Parrie, Monique Fouant, Lloyd Allison, Sheridan Hodges and Sheldon Atovsky.
Also, present from Management was Property Supervisor Tricia Conway, General Manager Tim Patricio, and Community Managers Scott Turton and Danny Bravman.
Commission Reports
ASCO Liaison Sheridan Hodges reported on the ongoing discussions about the Emmanuel Congregation development, and she encouraged Owners to give feedback to the Alderwoman – community input is still wanted.
Social Commission Acting Chair Sheldon Atovsky talked the upcoming TGIF on September 18th at 5:30pm in the lobby. He reported the next Commission meeting is scheduled for August 11th, 7:30pm on ZOOM. Watch for announcements on the bulletin boards and their e-mails. Join the Social Commission e-mail group to be included on news and announcements for coming events. Just send a request to: ptcasocial@rcn.com.
To review and download the Commission’s most recent report, Click Here.
Health Club Commission liaison Monique Fouant suggested everyone check out the new furniture in the pool area.
Home Improvement Commission liaison Michael Parrie reported that the commission met to discuss the 2nd floor deck furniture, landscaping, green fake foliage for the 2nd floor deck wall next to the Breakers, the lobby area rug replacement, and the 1st floor lobby elevator door paint color. The next meeting is on Monday, August 17th at 6 pm in the party room. All owners are welcome to attend.
To review and download the Commission’s most recent report, Click Here.
Board Report
On behalf of the Board, Michael Parrie asked all to please be aware of the closure of the laundry room next month when all machines will be replaced and the space will have a facelift.
Action Items
After a motion by Michael Parrie, seconded by Monique Fouant, the Board of Directors of the Park Tower Condominium Association voted unanimously in favor of a resolution to extend the deadline to 60 days for a unit owner to remove their unauthorized washer in order to reduce the fine from $1000 to $500.
After a motion by Michael Parrie, seconded Lloyd Allison, the Board of Directors of the Park Tower Condominium Association voted unanimously in favor of a resolution to approve the expense not to exceed $34,920 by Green Tech to renovate unit 2806 that is under foreclosure, that the association intends to rent to bring in income, and to add this cost to the unit’s ledger and thus make the association whole upon the unit’s eventual selling.
After a motion by Michael Parrie, seconded by Sheridan Hodges, the Board of Directors of the Park Tower Condominium Association voted unanimously in favor of a resolution to fine nine Unit Owners $100 for not having proof of insurance, to double thereafter for each subsequent month, up to the maximum fine of $1,000/month until adequate proof of insurance is provided.
After a motion by Michael Parrie, seconded by Lloyd Allison, the Board of Directors of the Park Tower Condominium Association voted unanimously in favor of a resolution to fine six Unit Owners $50 for not attending the new residents meeting, to double thereafter for each subsequent month, up to a maximum fine of $200 per month, until attendance to the meeting is satisfied.
After a motion by Michael Parrie, seconded by Sheldon Atovsky, the Board of Directors of the Park Tower Condominium Association voted unanimously in favor of a resolution to fine a Unit Owner $100 for an unauthorized guest dog; in the future such fines will be $100 per day.
After a motion by Michael Parrie, seconded by Monique Fouant, the Board of Directors of the Park Tower Condominium Association voted unanimously in favor of a resolution to fine a Unit Owner $250 for unauthorized construction.
After a motion by Michael Parrie, seconded by Sheridan Hodges, the Board of Directors of the Park Tower Condominium Association voted unanimously in favor of a resolution to fine a Unit Owner $150 for moving furniture through the lobby.
After a motion by Michael Parrie, seconded by Sheldon Atovsky, the Board of Directors of the Park Tower Condominium Association voted unanimously in favor of a resolution to deny an exception to the pet policy.
After a motion by Michael Parrie, seconded by Monique Fouant, the Board of Directors of the Park Tower Condominium Association voted unanimously in favor of a resolution to deny requests from 4 unit owners for an assistance animal, consistent with the guidance of legal counsel, but agrees to approve the requests if additional information is provided and determined by counsel to be sufficient.
After a motion by Michael Parrie, seconded by Lloyd Allison, the Board of Directors of the Park Tower Condominium voted unanimously in favor of a resolution to deny an owner’s request to remove their first month’s valet parking charge as we do not prorate.
After a motion by Sheldon Atovsky, seconded by Lloyd Allison, the Board of Directors of the Park Tower Condominium Association voted 4 to 1 in favor of a resolution to approve the minutes from the Board Meeting held on Monday July 13, 2026. Lloyd Allison abstained.
To review and download the approved minutes, Click Here.
After a motion by Sheridan Hodges, seconded by Monique Fouant, the Board of Directors of the Park Tower Condominium Association voted unanimously in favor of a resolution to approve the 22.1 disclosure as drafted with the best available information through June 2026.
After a motion by Lloyd Allison, seconded by Sheldon Atovsky, and discussion, the Board of Directors of the Park Tower Condominium Association voted unanimously in favor of a resolution to approve of the low zone jockey pump replacement as proposed by Fox Valley at an expense of $7,518.75 to be funded by the reserve fund, and hereby acknowledges that the pump approved for replacement in July 2026 was actually the high zone jockey pump.
After a motion by Monique Fouant, seconded by Lloyd Allison, the Board of Directors of the Park Tower Condominium Association voted unanimously in favor of a resolution to approve asbestos mitigation for the low zone 08/09 units riser project, as proposed by EHC Industries, Inc., at an expense of $65,250, to be funded by the reserve fund.
After a motion by Monique Fouant, seconded by Sheldon Atovsky, the Board of Directors of the Park Tower Condominium Association voted 4 to 1 in favor of a resolution to approve the remodeling plans for units 409, 2312, and 3514, as submitted by the unit owner, 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. Michael Parrie abstained.
Business Reports
Treasurer’s Report
Board Treasurer Lloyd Allison reviewed highlights from the most recent financial reports, for the period June 2026, are attached to the report for Board review.
Fund Balances End of June 2026
Operating assets totaled $2,048,077 and the Reserve cash and investments were $5,932,135 for a total of cash and investments of $7,980,212.
June 2026 Revenue and Expenses
Total Operating Revenue: $683,140
Total Operating Expenses: $486,564
Income (Loss) From Garage: $26,817
Contribution To Reserve: $188,258
Total Surplus/(Deficit): $35,135
Action On Investments
After a motion by Lloyd Allison, seconded by Sheridan Hodges, the Board of Directors of the Park Tower Condominium Association voted unanimously in favor of a resolution to approve the reinvestment of funds from an expiring US Treasury into a CD with Sally Mae Bank, totaling $234,000 at an interest rate of 4.3% for a period of 24 months, and an expiring Bank of America CD into a Capitol One CD, totaling $220,000 at an interest rate of 4.3% for a period of 36 months, and reaffirms that management continue consulting with the Board Treasurer and President between Board Meetings when making any new investments or future adjustments to such investments.
After a motion by Lloyd Allison, seconded by Sheldon Atovsky, the Board of Directors of the Park Tower Condominium Association voted unanimously in favor of a resolution to approve the reinvestment of funds from an expiring Bank of America CD into a Capitol One CD, totaling $220,000 at an interest rate of 4.3% for a period of 36 months.
Management Report
Property Manager Tim Patricio reviewed current business and activities of interest, and the latest sales.
To download and review the updated Sales Report, Click Here.
ADJOURNMENT
There being no further business, after a motion by Monique Fouant, seconded by Sheldon Atovsky, the Board of Directors of the Park Tower Condominium Association voted unanimously in favor of a resolution to adjourn the August 10, 2026, Board Meeting at 7:55PM.
OWNER FORUM
The Board of Directors and Management welcomed and addressed feedback and questions from Unit Owners.
The next regular Board Meetings are scheduled for Monday August 24th and September 14th at 7:30pm. All such meetings are held in the 2nd Floor Party Room unless otherwise posted.
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