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.

Reserve Study 2019

 

Reserve Fund Contributions:

For the fiscal year ending in 2019, the average contribution per unit per month to the Reserve Fund was $315 .13. Based on the proposed funding plan, the average increase in contribution per unit per month will be $5.51 in 2020 (fiscal year ending in 2020), followed an average increases of $4.01 per month in 2021, and $4.06 in 2022.
The proposed funding plan will be implemented beginning on May 1, 2020.

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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