Reserve Study:

The Corporation is required under subsection 94(1) of the Condominium Act, 1988 to conduct periodic studies to determine whether the amount of money in the reserve fund and the amount of contributions collected by the corporation are adequate to provide for the expected costs of major repair and replacement of the common elements and assets of the corporation. The most current study is available. Please click on the following link to see the report.

Form 15: Future Funding May, 2010

Reserve Fund Contributions
The Reserve Fund Study was updated by our Engineer in January 2010 to take account of the work completed since the 2007 Study, and to include any new items and the additional HST. Based on this Study, a Form 15 Notice of Future Funding of the Reserve Fund, which provides a summary of Contributions and Expenditures for future years, was sent to all Owners on September 2, 2010.
The Study recommends that the Contribution for 2011/12 should be $672,750, and that the Contributions should increase by 3.5% per year for future years.
The full Study which contains over 200 individual items is available in the office for those who are interested in the details.

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