PTCA Board Meeting Monday Jan. 12th 7:30pm
January 9, 2026
PTCA BOARD OF DIRECTORS MEETING
Monday January 12, 2026 7:30PM
2nd Floor Party Room
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 – SPECIAL MEETING OF UNIT OWNERS TO REVIEW PROPOSED 2026/2027 OPERATING BUDGET
To review and download the Special Meeting Agenda, Click Here.
ADJOURNMENT OF SPECIAL MEETING
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
- Closed Session Business
This agenda item is provided for any resolutions proposed resulting from Closed Session discussion.
- Minutes – Board Meeting Monday December 8, 2025
Attached to the meeting report for Board Member review are the proposed minutes for the Board of Directors Meeting held on Monday December 8, 2025, as submitted by Community 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 Monday December 8, 2025.”
- Updated 22.1 Disclosure
Attached to the report for Board Member review is the updated 22.1 disclosure through November 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:
- A copy of the Declaration, by-laws, other condominium instruments and any rules and
- 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
- A statement of any capital expenditures anticipated by the unit owner’s association within the current or succeeding two fiscal
- 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
- A copy of the statement of financial condition of the unit owner’s association for the last fiscal year for which such statement is
- A statement of the status of any pending suits or judgments in which the unit owner’s association is a party.
- A statement setting forth what insurance coverage is provided for all unit owners by the unit owner’s association.
- 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
- 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
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 November 2025.”
- 2026/2027 PTCA Operating Budget
Attached to the report for Board reference is the Special Meeting Notice to Unit Owners and the Proposed 2026/2027 Operating Budget Summary. Following the Special Meeting of the Unit Owners for the purpose of review and consideration of the proposed budget, the Board may consider formally accepting and adopting it.
A sample motion follows: “I move the Board of Directors adopts 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.”
- Fee Schedule Updates
The purpose of this action item is for potential consideration of fees for:
- Disposal of large personal items and debris, such as furniture or materials that will not fit in or are not intended for the dumpsters. Right now, materials are regularly being disposed improperly which could lead to City of Chicago fines. Beyond being unsightly and time consuming for our staff to address, junk left outside a dumpster or hanging out/protruding from them is prohibited. If we want to identify the responsible party, it can sometimes take several hours reviewing surveillance.
- Use of the exterior plaza LED sign for advertising. This comes by request of a business owner in the mall.
Motions can be proposed at the meeting as may be necessary to establish whatever policy may be made and any associated fees. The fee schedule with the Rules & Regulations will be updated accordingly.
- Market Space Recommendations Taskforce Guidelines
Acting Chair of the taskforce, Phoebe Helm, has asked for guidance from the Board, related to desired uses of and possible changes to the space. She reported, “I want to give the task force anything that should be considered hard and fast parameters before entertaining ideas, desires, preferences from the group.”
“Are there physical attributes we would not be willing to change? The front onto the hallway for example.”
“Are there tenants (functions) we would not want?”
“Are we concerned about the level of outside foot traffic that the business might attract?”
“Are we concerned about the hours the business might be open?”
“Any other parameters that should be kept in mind?”
- Construction Request
Attached for Board Member review are the remodeling packets for the following Unit Owner projects:
3204 – Kitchen Remodel & Hard Flooring
4301 – Unit Remodel & Electrical Panel
4607 – Kitchen/Bath Remodel; New Carpet
4901/03 – Window Film
A sample motion follows: “I move the Board of Directors approves 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.”
Business Reports
- Treasurer’s Report
The most recent financial reports, for the period November 2025, are attached to the report for Board review.
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
Attached to the report for Board review are the updated Monthly Activity Report and Sales and Lease Reports.
- Business and Activities – Property Manager Tim Patricio will review current business and activities of
- Engineer’s Report – Property Manager Tim Patricio will review any activity of interest from the Maintenance team.
- 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 January 12, 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 January 26th and February 9th, at 7:30pm. A Resident Forum is scheduled Saturday January 24th at 11am. All such meetings are held in the 2nd Floor Party Room unless otherwise posted.
About the Author: Tim Patricio
Park Tower Horizons
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