To the Park Shore Board of Directors and FirstService Residential Chicago (Property Management),

With due respect to the elected volunteers serving our community, and to the property management team, we, the undersigned residents and owners, are raising serious and ongoing concerns that have remained unaddressed for over six months. These issues impact the transparency, financial responsibility, and communication that are vital to the well-being of our community.

I. Inconsistencies with the Illinois Condominium Act

a. Lack of timely notice for Board of Directors meetings.

b. Decisions made without allowing homeowner discussion or input.

c. Potential conflicts of interest in contract and bid selection processes.

d. Residents being muted or redirected with legalistic jargon when requesting clarity on contracts or decisions, under the claim that full disclosure is prohibited by legal counsel.

e. Perceived bias or lack of responsiveness from the management office.

II. Lack of Transparency in Financial Reporting

a. Limited owner input in short- and long-term budget planning.

b. Opaque legal fee structures and unclear FirstService Residential budget allocations.

c. Lack of summary reporting or full cost breakdowns for renovations, despite resident interest and ongoing budget increases.

d. The Building Commission, which was active as recently as six months ago, was inaccurately told by the Finance Committee that no input had been provided into the 2025 budget. In fact, the Building Commission had submitted feedback and was later instructed to meet with the Board and legal counsel in a closed session only—undermining transparency and collaboration.

III. Communication Deficiencies

a. BuildingLink is outdated and potentially underutilized.

b. Recommendations to coordinate management database information, digital bulletin boards, elevator notices, “At-A-Glance” updates, and BuildingLink have not been implemented.

c. Requested documents are repeatedly not provided to owners.

d. Key building-related updates and initiatives are often poorly communicated or delayed.

IV. Unfinished or Abandoned Projects

a. Resident Handbook revisions (initiated March 2021) remain unaddressed.

b. Accessibility concerns were excluded from the November 2023 Full Circle Architects report and related budgets.

c. Substantial research and recommendations on electric vehicle charging (2023–2024) were not acknowledged or considered.

d. Parking-related expenses and resource usage—including valet staffing—have not been audited, raising concerns about efficiency and spending.

V. Plaza Budget Overrun

a. Capital expenses have increased by $2 million in the past year alone. The original budget was $3.5 million in 2023, rising to $4 million in 2024, and will likely total over $6 million—all for the same project, which originally included Phases 1, 2, and 3.

b. Park Shore reserves are now projected to drop to $1.5 million, posing serious risk. There is no financial cushion for unforeseen repairs or emergencies.

c. This puts our credit rating, property values, and potential for special assessments in jeopardy.

We strongly request a comprehensive review of Plaza Phase 2 before proceeding, ensuring full financial transparency, updated reporting, and meaningful homeowner input.

VI. Oversight and Quality of Service

Residents and owners have raised concerns about the professionalism, consistency, and quality of services provided by building staff and vendors. Currently, there is little visibility into how performance standards are set, how staff are trained or evaluated, or how resident concerns are handled.

We respectfully request clarity on expectations for staff and vendor conduct, including any required training or certifications. We also request a transparent process for residents to provide feedback and receive timely follow-up on reported concerns.

In summary, we respectfully request:

• Transparent, timely communication and documentation.
• Improved accountability from management and the Board.
• Action on longstanding projects and concerns.
• A financial strategy that protects our reserves and avoids unnecessary assessments.

We call for a collaborative approach to decision-making that honors the trust and investment of Park Shore residents and owners.

Sincerely,