Monday June 9, 2025 7:30 PM
6:30PM – CLOSED SESSION
The Board of Directors met to discuss rule violations, pending litigation, Unit Owner account issues and personnel matters.
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; the Annual Meeting Minutes are approved at the next Annual Meeting. Then they are posted in the PT Condo Online Library and otherwise available upon request from the Management Office.
The Meeting Chair, Board President Michael Parrie, called the 2025 Annual Meeting of the Park Tower Condominium Association Unit Owners to order at 7:30pm, and confirmed with the auditor there was a quorum of Association members present in person or by proxy, in order to conduct the meeting.
Introduction of Board Members, Management and Election Tabulator
The meeting chair introduced the current Board Members, representatives present from Management and the Election Tabulator from the Association’s auditing firm Picker and Associates.
Present from the Board of Directors was Michael Parrie, Monique Fouant, Sheridan Hodges, Sheldon Atovsky and Lloyd Allison.
Present from Management was Property Supervisor Shruti Kumar and General Manager Tim Patricio.
Present from Picker & Associates was auditor Bailey Wolfe.
Approval of Minutes: Annual Meeting June 10, 2024
After a motion by Betty Terry-Lundy (Unit 4306-4406), seconded by Martin Fiesler (Unit 4801), the ownership of the Park Tower Condo Association passed a resolution to approve the minutes from the 2024 Park Tower Condo Association Annual Meeting held on Monday June 10, 2024.
The chair affirmed that the ayes had it unanimously.
To review and download the approved minutes, Click Here.
Statement of Purpose of Meeting:
The meeting chair stated the purpose of the Annual Meeting was to elect three Unit Owners to the Board of Directors to each serve a two-year term.
Introduction of Candidates and Call for Ballots
The meeting chair introduced the Candidates of Record present: Lloyd Allison (Unit 1901), Sheridan Hodges (Unit 401), and Michael Parrie (Unit 5401). A candidate not present was Joseph Guzzardo (Unit 1801).
Then the chair called for any nominations from the floor. There were no nominations from the floor.
The meeting chair called for a motion for a final call for ballots.
After a motion by Betty Terriy-Lundy (Unit 4306-4406), seconded by Rob Laskov (Unit 3906), the ownership of the Park Tower Condo Association passed a resolution to approve making a final call for ballots at 7:34pm.
The chair affirmed that the ayes had it unanimously.
The Association’s auditor made a final collection of ballots, and confirmed preliminary results were tallied.
Announcement of Election Results
The meeting chair requested the preliminary election results be delivered and summarized by the Election Tabulator. The Election Tabulators presented the percentage of the quorum, and portion of the vote each candidate received.
Quorum – 22.12%
The election results were as follows in the order of the candidates which received the greatest percentage of the vote:
Michael Parrie – 20.40%
Lloyd Allison – 18.06%
Sheridan Hodges – 13.86%
Joseph Guzzardo – 10.50%
It is noted, the election results are expected to be formally certified by letter from the auditor on the next business day.
Adjournment
There being no further business, after a motion by Jean Shamo (Unit 4606), seconded by Carlos Vargas (Unit 4914), the ownership of the Park Tower Condo Association passed a resolution to approve adjourning the 2025 Annual Meeting Of Unit Owners at 7:36pm.
The chair affirmed that the ayes had it unanimously.
Monday June 9, 2025
Roundup Report
Owner Forum
The Board of Directors and management welcomed and address feedback and questions from Unit Owners.
CALL TO ORDER – Open Session
The meeting chair, Michael Parrie, called the meeting to order at 7:38pm.
Confirm Quorum
The meeting chair confirmed a quorum of Board Members is present. Board Members and representatives from Management will be introduced.
Commission Reports
ASCO Liaison Sheridan Hodges reported that at the most recent ASCO meeting they discussed the curb cut for 5356 North Sheridan (previously Wing Hoe) being eliminated, Temple Emmanuel being torn down and rebuilt as a mixed use building with apartments above the temple, and the ASCO Board voting to support 5020-5024 North Sheridan (where ‘Tweet’ is located) as a historical landmark.
Social Commission Acting Chair Sheldon Atovsky discussed movie night presentation where 34 neighbors enjoyed The Princess Bride, and activities surrounding preparations for the Independence Day Picnic scheduled for Friday July 4th – wristbands for Owners, residents and guests are now available in the management office. He discussed needing a successor to manage the picnic beginning in 2026. He reported the next Commission meeting will be towards the end of July or August – watch for notices. 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 reported that the Commission met on June 4th and discussed a variety of topics including suggested repurposing of the racquetball court, the possibility of installing a ‘Tonal’ workout station, the debate over air conditioning in the weight room, and proposed new furniture including tables and chairs in the pool area.
Home Improvement Commission liaison Michael Parrie reported their are no unpdates at this time.
Board Report
On behalf of the Board, Michael Parrie thanked owners who voted in this year’s annual meeting election so that we met the 20% quorum requirement.
He also wished farewell to our Habitat property supervisor Shruti Kumar, who is moving to sunny California with her family for a new chapter in her life. The Board enjoyed working with her for the past two-and-a-half years and wishes her the best. The Board looks forward to working with new property supervisor Tricia Conway.
Action Items
Election Of Officers
After a motion by Sheldon Atovsky, seconded by Monique Fouant, the Board of Directors of the Park Tower Condo Association voted unanimously to approve Michael Parrie, as Board President and liaison of the Home Improvement Commission and Rules & Regulations Commission, Monique Fouant, as Board 1st Vice President and liaison of the Health Club Commission and Green Commission, Sheridan Hodges, as Board 2nd Vice President and ASCO representative and co-liaison of the New Residents Commission, Lloyd Allison, as Board Treasurer and liaison of the Budget & Finance Commission and co-liaison of the New Residents Commission, and Sheldon Atovsky, as Board Secretary and liaison of the Social Commission.
Closed Session Business
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 ten Unit Owners $100 for not having proof of insurance, to double thereafter for each subsequent month, up to the maximum fine of $1,000 for not providing adequate proof of insurance.
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 five 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 Lloyd Allison, the Board of Directors of the Park Tower Condo Association voted unanimously in favor of a resolution to approve fining a unit owner $100 for an unapproved cat.
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 deny an owner’s request for a support animal, as recommended by the Board attorney, but approves the request if additional information is provided and the Board attorney so recommends.
Minutes – Board Meeting Monday May 12, 2025
After a motion by Sheldon Atovsky, seconded by Sheridan Hodges, 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 May 12, 2025.
To review and download the approved minutes, Click Here.
Updated 22.1 Disclosure
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 the 22.1 disclosure as drafted with the best available information through April 2025.
Follow Up On BAS System Engineering
General Manager Tim Patricio updated the Board on the next steps, which is for the design specifications to be drafted, RFPs to be sent out and a contractor for the project to be chosen.
Construction Requests
After a motion by Michael Parrie, seconded by Monique Fouant, the Board of Directors of the Park Tower Condo Association voted 4 to 1 in favor of a resolution to approves the remodeling plans for units 1901, 3911 and 4004, 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. Lloyd Allison abstained from the vote.
Business Reports
Treasurer’s Report
Board Treasurer Lloyd Allison review highlights from the most recent financial reports, for the period April 2025, as submitted by the Habitat Company.
Fund Balances End of April 2025
Operating assets totaled $1,736,506 and the Reserve cash and investments were $5,146,792 for a total of cash and investments of $6,883,298.
April 2025 Revenue and Expenses
Total Operating Revenue: $657,700
Total Operating Expenses: $471,998
Income (Loss) From Garage: $23,260
Contribution To Reserve: $176,058
Total Surplus/(Deficit): $32,904
Action On Investments
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 the reinvestment of a reserve fund CD with Southpoint Bank, totaling $245,000, to a CD with Wells Fargo with an interest rate of 4.3% for a period of 12 months, and the purchase of a new CD with Morgan Stanley, totaling $245,000, for a period of 4 years with an interest rate of 4.25%, and affirms that management continue consulting with the Board Treasurer and President between Board Meetings when making any new investments or future adjustments to such investments.
Management Report
Property Manager Tim Patricio reviewed current business and activities of interest, and the latest sales.
ADJOURNMENT
There being no further business, after a motion by Lloyd Allison, seconded by Monique Fouant, the Board of Directors of the Park Tower Condo Association voted unanimously in favor of a resolution to approve adjourning the June 9, 2025, Board Meeting at 8:15pm.
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 June 23rd and July 14th at 7:30PM. All meetings are planned to be held in the 2nd Floor Party Room unless otherwise posted.
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