Agenda & Report
6:30PM – CLOSED SESSION
The Board is scheduled to meet to discuss rule violations, pending litigation, Unit Owner account issues and personnel matters.
7:30PM – OWNER FORUM
The Board of Directors and management will welcome and address feedback and questions from Unit Owners.
OPEN SESSION CALL TO ORDER – Confirm Quorum
The meeting chair, expected to be Board President Michael Parrie, will call the meeting to order and confirm a quorum of Board Members is present. Board Members and representatives from Management will be introduced.
Commission Reports
The meeting chair will invite commission representatives for any news, updates and reports. Attached to the report for Board review are the most recent reports from the Home Improvement Commission and Social Commission.
Board Report
The meeting chair may give a report on current Association business and activities of interest.
Action Items
1. Closed Session Business
This agenda item is provided for any resolutions proposed resulting from Closed Session discussion.
2. Minutes – Special Budget Meeting Monday January 12, 2026
Attached to the meeting report for Board Member review are the proposed minutes for the Special Meeting of the Unit Owners to review the 2026/2027 PTCA Proposed Operating Budget held on Monday January 12, 2026, as submitted by General Manager Tim Patricio, for Board consideration.
A sample motion: “I move the Board of Directors of the Park Tower Condo Association hereby approves the minutes from Special Meeting of the Unit Owners to Review the 2026/2027 PTCA Proposed Operating Budget held on Monday January 12, 2026.”
3. Minutes – Board Meeting Monday January 12, 2026
Attached to the meeting report for Board Member review are the proposed minutes for the Board of Directors Meeting held on Monday January 12, 2026, as submitted by General Manager Tim Patricio, for Board consideration.
A sample motion: “I move the Board of Directors of the Park Tower Condo Association hereby approves the minutes from the Board Meeting held on January 12, 2026.”
4. Updated 22.1 Disclosure
Attached to the report for Board Member review is the updated 22.1 disclosure through December 2025 for formal Board approval. The 22.1 Disclosure, is a standard document we provide upon request in the event of any sale and make available for inspection to the prospective purchaser. This incorporates:
(1) A copy of the Declaration, by-laws, other condominium instruments and any rules and regulations.
(2) A statement of any liens, including a statement of the account of the unit setting forth the amounts of unpaid assessments and other charges due and owing as authorized and limited by the provisions of Section 9 of this Act or the condominium instruments.
(3) A statement of any capital expenditures anticipated by the unit owner’s association within the current or succeeding two fiscal years.
(4) A statement of the status and amount of any reserve for replacement fund and any portion of such fund earmarked for any specified project by the Board of Managers.
(5) A copy of the statement of financial condition of the unit owner’s association for the last fiscal year for which such statement is available.
(6) A statement of the status of any pending suits or judgments in which the unit owner’s association is a party.
(7) A statement setting forth what insurance coverage is provided for all unit owners by the unit owner’s association.
(8) A statement that any improvements or alterations made to the unit, or the limited common elements assigned thereto, by the prior unit owner are in good faith believed to be in compliance with the condominium instruments.
(9) The identity and mailing address of the principal officer of the unit owner’s association or of the other officer or agent as is specifically designated to receive notices.
As a matter of routine, we continue to update this regularly and will present it periodically for Board review and formal approval.
A sample motion: “I move the Board of Directors of the Park Tower Condo Association approves the 22.1 disclosure as drafted with the best available information through December 2025.”
5. 2025 Commercial Package Insurance Program
The purpose of this action item is to discuss the current status of the insurance program renewal with Alliant Insurance Services. Thankfully after 3 years of dramatic increases, it appears the Umbrella premiums have stabilized as expected.
Attached to the report for Board review is the preliminary proposal package, summarized below:
Coverage Type 2025/2026 26/27 Budget 26/27 Renewal
Property $381,430 $411,944 $416,060
General Liability $42,997 $49,724 $48,526
Garage $6,547 $6,800 $7,507
D & O $20,087 $28,000 $23,174
Excess D&O $12,657 $15,000 $14,575
Crime $4,642 $4,700 $4,642
Excess Crime $1,271 $1,300 $1,271
Cyber $2,511 $2,700 $2,507
Umbrella $85,794 $91,000 $90,674
Workers Comp $28,719 $29,500 $29,929
Total $588,862 $640,668 $638,605
The total budget for all premiums for 2026/2027, is $646,300.
A sample motion follows: “I move the Board of Directors of the Park Tower Condo approves the renewal of the Association’s annual insurance program for the 2026/2027 fiscal year, as proposed and recommended by Alliant Insurance Services, for all policies including Property Insurance, General Liability Insurance, Equipment Breakdown Insurance, Crime Insurance, Director’s & Officers Insurance, Cyber Liability, Workers Compensation Insurance and Umbrella Insurance, at a total combined premium expense of $638,605.”
6. Elevator Door Hold Buttons
The purpose of this action item is to follow up on the previous suggestion of highlighting the door hold or open buttons, to hopefully reduce the tendency of residents holding the doors with their feet, hands or arms. We’ve been waiting for OTIS to follow up on potential pricing, which after some prompting we received following the holidays.
Attached to the report for Board review are color and button options, including some enlarged visual samples so members can get a better idea of the expected appearance. Our OTIS rep reported the buttons are $12 apiece. They could not guarantee a total cost. This type of work would be done on a time and material basis, but they said it would certainly not exceed $2000.
A motion can be proposed at the meeting.
7. Asbestos Study and Procedures Manual
In the wake of the fire in Unit 409, Travelers Insurance company reported in early January, asbestos was present in samples taken from drywall mud compound within the unit in a number of locations. A 2nd opinion was sought from a firm PT has used for asbestos concerns in the in the past, confirming the findings mid-January.
Following this confirmation, we expanded the effort to locations the staff was actively working on with wall openings or areas we need to open elsewhere throughout the tower. Out of 7 locations only 2 came back as positive.
After a series of meetings with our team and Habitat including an asbestos consultant, and the Association’s legal counsel, additional professional sampling and testing is recommended building wide to determine if this is more widespread, and plan to act at locations that are identified or suspected of having problematic conditions.
We also requested a rate for “rapid response” for urgent or emergency situations that might arise going forward.
Following is a summary of the proposals we’ve received:
Study & Plan Rapid Response
Carnow Conibear $29,835 $2505
EGSL $22,000 $850
We are waiting for two additional proposals, from M&O Environmental and ServPro. M&O is a firm the Association has used in the past to assist with any asbestos suspicions or findings.
There is no budget for this, but we recommend the Board approve the study and maintenance plan be approved as a reserve expense and the rapid response be approved as an operating expense, as needed going forward.
We also suggest the Board include a policy requires testing for all repairs, new construction and remodeling projects where drywall will be disturbed within units, at the expense of the Unit Owner, unless it is in conjunction with common element repairs.
A sample motion: “I move the Board of Directors of the Park Tower Condo Association approves that _____________ be hired for asbestos consulting services, specifically for asbestos inspection, sampling testing and the development of an Operations & Maintenance Plan at an expense of $_______ to be funded by the reserve, and for ongoing future rapid response at an expense of $_______ for any locations that are determined to warrant testing, and hereby establishes a policy that any location that may reasonably be believed or suspected could contain problematic conditions be tested for the presence of asbestos on an as needed basis, at the expense of the Association for common elements and at the expense of the Unit Owner for repairs that are the responsibility of the unit owner and/or construction and remodeling projects within a particular unit.”
8. Landscaping Maintenance Contract
Following feedback and guidance from the Home Improvement Commission, an RFP was distributed to 5 landscape contractors for maintenance and seasonal plantings. As bids came in, they were shared with 2 members of the Commission, Becky Rossof and Kent Brave, who were nominated to assist management in review, and to attend interviews with their representatives. Skyline Exteriors, Christy Webber, Semmer Landscape, Clarence Davids and the incumbent Yellowstone, were sent RFPS. Of those, 4 returned proposals in time for consideration, and 3 were invited to interview after review of their proposals.
Base bidding for services is as follows:
Maintenance Seasonal Plantings Total
Yellowstone (incumbent)
2026 $14,960 $29,195 $44,155
2027 $15,409 $30,362 $45,771
2028 $15,871 $31,576 $47,447
Christy Webber
2026 $16,642.11 $43,321.44 -4% $59,115.00
2027 about 3% about 3% $60,890.00
2028 fixed fixed $60,890.00
Clarence Davids
2026 $18,720 $25,530 $44,250
2027 $19,280 $26,295 $45,575
2028 $19,864 $27,085 $46,949
Semmer (not invited to interview)
2026 $23,658.29 $30,755.23 $54,413.52
2027 $23,658.29 $30,755.23 $54,413.52
2028 $24,604.62 $31,985.44 $56,590.06
Skyline Exteriors acknowledged the RFP and even visited the site for a walk through, but did not return a proposal. The decision to not invite Semmer is based on a poor response effort to the RFP and content of their proposal.
The base bids are attached the report for Board Member review. After meeting with each representative, reviewing work history, references and considering the specific content of their proposals which included suggested seasonal plantings and other relevant materials, it was the consensus of the Commission members and management to not renew with Yellowstone and to engage with Clarence Davids for budgeted landscaping services.
A sample motion follows: “I move the Board of Directors of the Park Tower Condo Association approves a contract as proposed with Clarence Davids & Company for budgeted landscape maintenance and seasonal plantings, for 2026 at an expense of $44,250, 2027 at an expense of $45,575 and 2028 at an expense of $46,949, and hereby thanks Unit Owners Rebecca Rossof and Kent Brave, members of the Home Improvement Commission, for assisting with the proposal review and interview process to help select a contractor.”
9. High Zone ’11 Tier Kitchen Check Valves
The purpose of this action item is to discuss a possible hybrid and unconventional solution to a suspected cross over problem on the high zone ’11 kitchen riser. Numerous units are without hot water, and after repeated inspections, our team has not been able to identify the culprit faucet.
Basically, cross-overs occur when a single handled faucet goes bad or is malfunctioning, and the cold or hot water is drawn into the other line. In this case, cold water is getting into the hot water line causing many units to have diminished hot water temperature. On this tier, out of 26 units, 21 have a single handled faucet, and despite a relatively exhaustive search (3 inspections on the riser within the last several weeks), the problem fixture remains at large. In the meantime, numerous units are not getting consistent hot water service in their kitchens.
The Association’s staff plumber Louie Mezzano has suggested a different strategy. He proposes we retrofit a check valve on all 21 faucets. The check valve would prevent a malfunctioning faucet from causing a cross over into the water lines. The part costs $30 per faucet (about $630), and will take about 3 ½ days of labor.
We suggest doing this at the cost of the Association as an operating expense but would like to discuss that and other specifics. In theory, if the faulty faucet is identified, at least some of the cost could be charged back to the responsible owner. Whatever the Board considers, if a motion is necessary, it can be suggested at the meeting.
10. Mall, Pool and 2nd Floor Air Handlers
Attached to the report for Board Member review are proposals to replace air handlers for the mall space, pool area and the 2nd floor. These efforts were budgeted for the 2026/2027 fiscal year and identified as needed replacements by both our maintenance team and the Association’s Reserve Study.
The bids are as follows:
Air Comfort Inc. $610,000
Corcoran Heat & AC $293,682
Oak Brook Mechanical $211,070
The total budget for these efforts is $225,000.
Our engineer mentioned that Hayes Mechanical, WJO Chicago and Kroeschell Engineering – typical vendors we invite to bid HVAC projects – turned down bidding without explanation. We can’t really explain why Air Comfort is so high. They attended the same contractor meeting and walk through as the other vendors. It may be connected to language in the proposal such as “as needed”, and in context could suggest they are planning on replacing a lot of duct work or other ancillary materials. In discussion with the engineer he is “100% certain” that will not be necessary.
We have had similar work done by Oak Brook in the past, and they are bidding Carrier, which is an excellent brand. We have no problem suggesting they be chosen as the low bidder. We do suggest a 5% contingency should unknown conditions arise, though surrounding ductwork and grating is in visibly very good condition.
A sample motion: “I move the Board of Directors of the Park Tower Condo Association approves replacement of the mall area, pool area and 2nd floor air handling units, as proposed by Oakbrook Mechanical, at a total expense of $211,070, and a provision of $11,250 should unknown conditions arise, to be funded by the Reserve Fund.
11. Construction Request
Attached for Board Member review is a remodeling packet for the following Unit Owner project:
2207 – Kitchen & Bath Remodel & Hard Flooring
A sample motion follows: “I move the Board of Directors approves the remodeling plans for unit 2207, 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.”
Business Reports
1. Treasurer’s Report
The most recent financial reports, for the period December 2025, are attached to the report for Board review.
Fund Balances End of December 2025
Operating assets totaled $2,033,589 and the Reserve cash and investments were $5,509,083 for a total of cash and investments of $7,542,672.
December 2025 Revenue and Expenses
Total Operating Revenue: $654,283
Total Operating Expenses: $610,907
Income (Loss) From Garage: ($6,925)
Contribution To Reserve: $176,058
Total Surplus/(Deficit): ($139,607)
Action On Investments
After consultation with the Board President and Treasurer an expiring CD with Federal Savings Bank was reinvested with Morgan Stanley Bank, $220,000 for a period of 48 months at 3.9%.
A sample motion: “I move the Board of Directors of the Park Tower Condo Association approves the reinvestment of a reserve fund CD with Federal Savings Bank, totaling $220,005, to a CD with Morgan Stanley Bank with an interest rate of 3.9% for a period of 48 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.”
2. Management Report
Attached to the report for Board review are the updated Monthly Activity Report and Sales and Lease Reports.
a) Business and Activities – Property Manager Tim Patricio will review current business and activities of interest.
b) Engineer’s Report – Property Manager Tim Patricio will review any activity of interest from the Maintenance team.
c) Recent Sales Activity – Property Manager Tim Patricio will review the most recent Sales.
ADJOURNMENT
There being no further business, the Board will consider adjourning the meeting.
A sample motion: “I move the Board of Directors adjourns the February 9, 2026, Board Meeting at ____PM.”
OWNER FORUM
The Board of Directors and Management will welcome and address feedback and questions from Unit Owners.
The next regular Board Meetings are expected for Monday February 23rd and March 9th, at 7:30pm. All such meetings are held in the 2nd Floor Party Room unless otherwise posted.
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