PTCA BOARD OF DIRECTORS MEETING

Following Special Unit Owner Meeting To Review Proposed Budget

Monday January 12th, 2026

Roundup Report

Important Note – The Meeting Roundup Reports are provided as a courtesy for Owners to review business the Board considered and conducted at meetings. 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.

Call To Order – Special Meeting

Special Meeting Of The Unit Owners To Review the Proposed 2026/2027 PTCA Operating Budget

Board President Michael Parried called the Special Meeting to order at 7:36pm and explained the purpose of the meeting.

A presentation of Proposed Budget was made and Owner Questions and Comments were welcomed and addressed by the Board and Management.

To review the PowerPoint presentation made of the proposed budget, Click Here.

After a motion by Kim Lange of Unit 1115, seconded by Jon Yardley of Unit 401, the owners of the Park Tower Condo Association voted to adjourn the Special Meeting of the Unit Owners for review of the proposed operating budget for the 2026/2027 fiscal year, at 8:43pm

OWNER FORUM

The Board of Directors and Management welcomed and addressed feedback and questions from Unit Owners.

BOARD MEETING OPEN SESSION CALL TO ORDER – Confirm Quorum

Board President Michael Parrie, called the meeting to order at 8:59pm and confirmed a quorum of Board Members is present.

Present from the Board of Directors was Michael Parrie, Monique Fouant, Sheridan Hodges, Sheldon Atovsky and Lloyd Allison.

Present from Management was Habitat Company Vice President of Condominium Management Tricia Conway, General Manager Tim Patricio, and Assistant Managers Danny Bravman and Scott Turton.

Commission Reports

Social Commission Acting Chair Sheldon Atovsky reported on the upcoming planned movie night on February 21st at 5pm in the Party Room. Doors open at 4:45pm. Join the Social Commission e-mail group for more, 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.

Board Report

On behalf of the Board, Michael Parrie reported that the PowerPoint for tonight serves as the bulk of tonight’s board report. Special Meeting for Budget PowerPoint 12-2-2025

He said the Board would like to thank management and the maintenance team in all of their work for the fire clean-up, and thanks owners and residents for their patience while we followed all guidance from the professionals.

Finally, the board asks everyone to please be cautious when burning candles.  Do not leave them unattended or near items or flammable materials that may catch on fire.  Consider using a battery-operated faux candle.  Our PTCondo website posted some information and  resources at:  https://www.ptcondo.com/household-candle-safety/

Action Items

1. Closed Session Business

After a motion by Michael Parrie, seconded by Lloyd Allison, the Board of Directors of the Park Tower Condo Association voted unanimously in favor of a resolution to fine 5 unit owners $100 for not having proof of insurance, and may double thereafter for each subsequent month, up to the maximum fine of $1,000, until adequate proof of insurance is provided.

After a motion by Michael Parrie, seconded by Monique Fouant, the Board of Directors of the Park Tower Condo Association voted unanimously in favor of a resolution to fine 3 unit owners $50 for not attending the new residents meeting, and may double thereafter for each subsequent month, up to a maximum fine of $200, until attendance to the meeting is satisfied.

After a motion by Michael Parrie, seconded by Sheridan Hodges, the Board of Directors of the Park Tower Condo Association voted unanimously in favor of a resolution to fine an owner $2000 for repeated smoke odor disturbances, which may double for future events.

After a motion by Michael Parrie, seconded by Sheldon Atovsky, the Board of Directors of the Park Tower Condo Association voted unanimously in favor of a resolution to fine an owner $50 for a cooking odor disturbance, which may double for future events.

After a motion by Michael Parrie, seconded by Lloyd Allison, the Board of Directors of the Park Tower Condo Association voted unanimously in favor of a resolution to fine an owner $250 for a construction violation.

2. Minutes – Board Meeting Monday December 8, 2025

After a motion by Sheldon Atovsky, seconded by Monique Fouant, the Board of Directors of the Park Tower Condo Association voted unanimously in favor of a resolution to approve the minutes from the Board Meeting held on Monday December 8, 2025.

To review and download the approved minutes, Click Here.

3. Updated 22.1 Disclosure

After a motion by Sheridan Hodges, seconded by Lloyd Allison, the Board of Directors of the Park Tower Condo Association voted unanimously in favor of a resolution to approve the 22.1 disclosure as drafted with the best available information through November 2025.

4. 2026/2027 PTCA Operating Budget

After a motion by Lloyd Allison, seconded by Sheldon Atovsky, the Board of Directors of the Park Tower Condo Association voted unanimously in favor of a resolution to approve adoption of the budget as proposed and presented to Unit Owners for the fiscal year starting March 1, 2026 and ending February 28, 2027, with a 4.4% increase in assessments, a 3.78% increase in total anticipated operating expenses, a projected reserve contribution of $2,259,100, and planned reserve projects totaling $1,910,700.

5. Fee Schedule Updates

After a motion by Michael Parrie, seconded by Sheridan Hodges, the Board of Directors of the Park Tower Condo Association voted unanimously in favor of a resolution to approve adoption of the following fee policies, increasing the move deposit from $100 to $250 which is refundable if there are no issues, establish a disposal fee for large personal items not fitting or intended for the dumpsters to be $100 for scheduled and $250 for unscheduled, and establish a fee for use of the exterior plaza LED sign for advertising to be $500 per month, not allowing any political advertising.

6. Market Space Recommendations Taskforce Guidelines

After a motion by Michael Parrie, seconded by Monique Fouant, the Board of Directors of the Park Tower Condo Association voted unanimously in favor of a resolution to approve adoption of the following guidance in response to questions for the Market Space Taskforce: For physical attributes, we are not willing to consider changes to the front entrance onto the hallway; we are not willing to consider the following tenants or functions – any entity that is not properly licensed, use that is excessively noisy, anything that causes long lines outside in the hallway, daycares, animal care centers, rummage items, or anything that may cause our insurance to increase; the Board would like taskforce to consider recommendations regarding equipment/fixtures that are still present, as to how to recycle, sell, or dispose of it; we believe the hours for any public business operations should be anytime between 7 am to 10 pm, with the exception that their staff may stay outside of these hours, as long as they are not generating noise and understand that they will have to enter/exit through the lobby doors.

7. Construction Request

After a motion by Michael Parrie, seconded by Lloyd Allison, the Board of Directors of the Park Tower Condo Association voted unanimously in favor of a resolution to approve the remodeling plans for units 3204, 4301, 4607, and 4901/03, 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.

The most recent financial reports, for the period November 2025, are attached to the report for Board review.

Business Reports 

1. Treasurer’s Report

Board Treasurer Lloyd Allison reviewed the most recent financial reports, for the period November 2025.

Fund Balances End of November 2025

Operating assets totaled $2,062,388 and the Reserve cash and investments were $5,369,740 for a total of cash and investments of $7,432,128.

November 2025 Revenue and Expenses

Total Operating Revenue: $657,334

Total Operating Expenses: $471,792

Income (Loss) From Garage: $41,409

Contribution To Reserve: $176,058

Total Surplus/(Deficit): $50,893

2. Management Report

Property Manager Tim Patricio reviewed current and recent business and activities of interest and the most recent unit sales.

ADJOURNMENT

There being no further business, after a motion by Monique Fouant, seconded by Lloyd Allison, the Board of Directors of the Park Tower Condo Association voted unanimously in favor of a resolution to approve adjourning the January 12, 2026, Board Meeting at 9:12pm.

OWNER FORUM

The Board of Directors and Management welcomed and addressed feedback and questions from Unit Owners.