Report & Agenda
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.
CALL TO ORDER – Open Session
The meeting chair, expected to be Board President Michael Parrie, will call the meeting to order.
Confirm Quorum
The meeting chair will 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
This agenda item is provided for any resolutions proposed resulting from Closed Session discussion.
Attached to the meeting report for Board Member review are the proposed minutes for the Board of Directors Meeting held on Monday October 13, 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 October 13, 2025.”
Attached to the meeting report for Board Member review are the proposed minutes for the Board of Directors Meeting held on Saturday November 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 Saturday November 8, 2025.”
Attached to the report for Board Member review is the updated 22.1 disclosure through September 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:
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 September 2025.”
The lease and maintenance contract with Impact Networking for our present copier is expiring. We’ve had the present copier for 9 years, first with a 5 year lease and maintenance contract, which was renewed for 4 years at the end of that term. Because of its age, maintenance on this particular copier would begin increasing 20%+ per year…obviously as they age, they become more difficult to manage and secure parts for.
We’ve been happy with this copier and Impact Networking, so we asked them to quote us for ‘as similar a model as possible’. Thankfully there is a 2024 model from the same Biz-hub line of Knoica/Minolta copiers. It has higher print speed and quality, and the touchscreen interface will be more advanced and user friendly, which makes sense given the time that has passed.
Attached to the report for Board review is the proposed lease and maintenance agreement for 5 years, as well as a brochure about the copier. The proposed annual expense is as follows:
Year 1 – $495.00/monthly + tax (Equipment – $379.20 + Service – $115.80)
Year 2 – $503.69/monthly + tax (Equipment – $379.20 + Service – $124.49)
Year 3 – $513.03/monthly + tax (Equipment – $379.20 + Service – $133.83)
Year 4 – $523.07/monthly + tax (Equipment – $379.20 + Service – $143.87)
Year 5 – $544.86/monthly + tax (Equipment – $379.20 + Service – $165.66)
The present expense is $478/month plus tax, so the base rate is about a 3.5% increase. Following that, for years 2 and 3 it is under a 2% increase, year 4 about 3% and year 5 about 4%. The only thing that is increasing each year is the maintenance portion, which is reasonable because more maintenance can be expected as they age. (It would be fair to note that their original rate was higher for the increase. We negotiated the proposed annual escalation over 5 years down 50% from their starting offer.)
Another advantage is the allowance for copies. Our present contract allows for 24,600 b&w copies per quarter and 1500 color – and .015 cents and .08 cents respectfully for overages. The new contract will provide 30,000 b&w and 2700 color, and .0069 cents and .052 cents respectfully for overages. We negotiated this, based on our present usage history.
There is one difference – the new model does not do booklets. We did need this feature in the past when we printed the Tower Talk Newsletter. So, it is not a necessary feature.
We believe this is all more than reasonable, but just as important to consider, their service is stellar. We’ve had the same mechanic for most of Impact Networking’s tenure and he has been fast and efficient, solving issues same day almost 100% of the time. Granted, we have had few issues with this copier. There have been more on an annual basis in recent years, but nothing that has hampered our routine.
Given their service and reasonable rates, we suggest the Board approve this proposal.
A sample motion: “I move the Board of Directors of the Park Tower Condo Association hereby approves a 60 month lease and maintenance agreement for a new office copier, as proposed with Impact Networking, for a rate of $495/month + tax year 1, $503.69/month + tax year 2, $513.03/month + tax year 3, $523.07/month + tax year 4, and $544.86/month + tax year 5.”
Attached to the report for Board review are initial bids to address problems with the main heating boilers, allegedly discovered by our maintenance contractor, Hayes Mechanical, when conducting recent routine maintenance. On Boiler #1 they reported a problem with the “diffuser” which is a fan like part within the boiler which moves air through the burner. It spins and blows the flame so that it is distributed throughout the length of the boiler. This is by far the costliest part of the repairs. The Boiler 2 issue is a failing ‘electrode’ which is extremely minor in comparison. Neither problem would result in an imminent failure. The boilers are operational, but given what is being described we would need to act. The proposals (so far) to address these conditions are:
Hayes Mechaical $70,147
Oakbrook Mechanical $43,520
Our team is seeking two other bids to address this. However, we had serious reservations about what was being alleged. Management and both engineers feel the timing was suspect. Seasonal maintenance, which involves taking the burners apart, inspecting everything and putting them back together was completed in August. Both boilers were tested and ready for service in September. As we’ve needed heat, we’ve experienced no noticeable problems, but overall there’s been very little significant use of either boiler. When you analyze what they’ve described, we feel that the problem with Boiler 1 should have been something noticed when putting the burner back together as a part of the seasonal maintenance. At the very least it is a pretty big coincidence if they didn’t.
So we asked a specialist with Nolan Boiler, who we’ve used for some inspection work and repairs in the past, to come out and look at these issues more closely. They agreed the electrode is an issue on Boiler 2, but they believe Hayes is wrong about Boiler 1.
So we are doing some additional investigation and management will report on this further in person at the meeting. If any action is needed, we can propose a motion at that time. Worst case scenario right now, this is a $43,520 surprise. Best case scenario, we may want to pay for a 2nd opinion, for example to have Nolan to come open up Boiler 1 and have a closer look.
The present renewal extension for the contract with the Habitat Company expires on December 31st. The original contract however, allows for a 7th year at a 2% increase in the Management Fee. Attached to the report for Board review are the relevant pages showing the payment terms and timing. This was negotiated at the outset with the Habitat Company in the Fall of 2019, but the Declaration limits agreements with a managing agent to 3 years. Hence the first term was 2020-2022, and second term extension for 2023-2025 and final term for 2026 were built in to the agreement for consideration.
Assuming the Board wishes to initiate the final term, it does require a formal vote.
A sample motion: “I move the Board of Directors of the Park Tower Condo Association hereby approves a 1 year extension of the management contract with The Habitat Company, to begin on January 1, 2026 and expire on December 31, 2026, consistent with the provisions of the original condominium management agreement and term beginning on January 1, 2020, and expiring on December 31, 2022, which was followed by a 3 year extension for calendar years 2023-2025, expiring on December 31, 2025.”
Attached for Board Member review are the remodeling packets for the following Unit Owner projects:
2007 – Double Pane Windows
3615 – General Remodeling
4911 – General Remodeling
A sample motion follows: “I move the Board of Directors approves the remodeling plans for units 2007, 3615 and 4911, 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 September 2025, are attached to the report for Board review.
Fund Balances End of September 2025
Operating assets totaled $1,908,159 and the Reserve cash and investments were $5,270,853 for a total of cash and investments of $7,179,012.
September 2025 Revenue and Expenses
Total Operating Revenue: $690,840
Total Operating Expenses: $545,665
Income (Loss) From Garage: $45,540
Contribution To Reserve: $176,058
Total Surplus/(Deficit): $14,660
Management Report
Attached to the report for Board review are the updated Monthly Activity Report and Sales and Lease Reports.
ADJOURNMENT
There being no further business, the Board will consider adjourning the meeting.
A sample motion: “I move the Board of Directors adjourns the November 10, 2025, 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 November 24th and December 8th at 7:30PM. The next Board Meetings for Budget Review are Saturday November 15th and 22nd at 9am. All such meetings are planned to be held in the 2nd Floor Party Room unless otherwise posted.
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