Reserve Fund

The new 5-year Reserve Fund plan prepared by Westview Consulting Ltd. is almost complete and will be sent out to owners and uploaded to the library area of Condo Control. The Reserve Fund Study describes the reserve fund concepts and various reserve fund components, which are long-term items such as buildings and their parts, stairs, mechanical devices, etc that last more than one year. A budgetary item is one that is used up in one year such as gas, water, sewer, and lawn maintenance. The Reserve fund provides current and future replacement reserve estimates and recommends reserve fund actions.

Projects that have come and gone for 2022

These include:

• Painting of the Exterior walls and soffit of the Clubhouse at the cost of $4,646
• Various mechanical components like zones, valves, pumps, thermostats, etc were replaced at the cost of $45,092
• New lights were added to buildings 1 and 2. If prices are good, the board can look at the existing pole lights by adding new LED light tops. Better light tops may add better light to building 3, or we may need to add in one tall light standard there as well. This project is almost complete at a cost of $50,156
• The fob system in building 3 had issues at the beginning of the year, so rather than continuing with Mircom the board decided to put in the same system that other buildings have at the cost of $38,128
• Because of the continued intrusion of vagrants accessing buildings and sleeping and/or doing drugs under stairs on the bottom floor, the board decided to block off these crawlspaces with drywall. The buildings that have been completed are 6, 3, 5, and 2 at the cost of $8,526. These buildings were chosen as they are direct access from Elbow Drive and Southampton Drive and saw the greatest number of intrusions. If these individuals make their way further into the property to other buildings then the next board can decide to block off more stair areas.
• Asphalt and concrete repairs and replacements to roadways, sidewalks, and stairs at the cost of $84,653, which includes the manhole and grate at building 3 for better drainage. Handrails for the new stair areas are on order and will be installed as soon as possible weather permitting. If you feel uneasy using those stairways during the winter, we suggest using the secondary entrances to buildings.
• Landscape improvement for drainage behind building 5-1 at a cost of $5,092
• Replaced sump pump piping behind the clubhouse by bringing the pipe inside the building. This with the combination of heat tape in the pipe should prevent freezing and breakage.
• Upgrade replacements to the fire safety equipment at the cost of $88,908
• Replaced the garbage enclosure at 5-1 for $5,554 due to a fire burning down the original one.

New Stairs

Due to the struggles with the company that created the test stairs at the back of building 2-1 obtaining the product from the states, the corporation could not continue our entrance stairway project. We are hoping that either this company can source their epoxy resin from another company, or we find a different company to manufacture building entrance stairs. There is the possibility of reexamining aluminum stairs as well since the price of aluminum has come down to 2018 prices.

Outdoor Court

Unfortunately, because of continued abuse of the glass backboard basketball system, the corporation now needs to fix this specific backboard after it was broken by a resident. The cost will be billed back to the individual who bent the supports. The new supports are here and will be installed in spring 2023. All basketball hoops for no reason whatsoever should be used to hang off of or be used for dunking. There is even a sign on the glass basketball post that reads do not dunk on this system as well as a big sign on the fence. But children being children can’t seem to read and follow guidelines. We may have to place a sign on the fence behind the backboard post to inform these wayward children to stop dunking here.

This concludes my 2022 AGM report and hope 2023 for all of us is a great and successful year.