Net energy costs following the installation of the new heating system increased by approximately $17,500 in each of the calender years 2011 and 2012. Now we find that these costs are up approximately $18,000 in just the first six months alone of the current year, 2013, over the same  six month period in 2010.  This is very alarming and obviously raises some very serious questions.

So, over the 2 1/2 year period since installation of the new heating system, accumulated energy cost increases are in excess of $53,000.

Considering the substantial energy cost savings promised by the board and the engineer to residents on several occassions including a general meeting in 2010 where approximately 80 % of residents disapproved of the hot water heating system, the project proceeded anyway. The net result was that those promised savings plus the actual energy cost increases, resulted in a negative discrepancy in excess of $150,000. In other words, residents were advised that effectively, the promised savings would result  in a projected reserve fund balance of over $150,000 more than the actual realized balance as of June 30, 2013.

For our responsible residents who choose to remember, residents back in 2010 were advised that because of the promised savings, there would be no need for any forseeable increase in fees. Fees were in fact increased, and we no longer have the reserve fund that we had prior to the new heating system. Substantial cost overuns to the heating system project along with this serious discrepancy in promised savings, have in fact contributed greatly to the depletion of our reserve fund over this period. Of serious concren, residents have not been provided with a reserve fund report for quite some time.

The promised  savings simply did not happen, and given the ongoing and unexplained increases in our energy costs, residents will be called upon to pay even more for this unneccessary debacle. Residents must realize that this shortfall will be primarily funded by them and at the same time, be aware of the fact that they face yet further cash calls for funding of the recent action of the board to take on yet another unneccessary project with an even greater projected cost.

That project is of course the replacement of the parkade surface. Residents must not permit any consideration of such projects without their approval by way of a required special resolution.

There will of course be those who will strongly object to any questioning of the above mentioned issues which should be of very grave concern to every responsible resident. These opponents are asked to provide their facts and information that support their objection.

For those who choose to stand in respect for themselves and their investment in this building, there has never been a better opportunity to express serious concern and call attention to these issues. This of course includes support for an appropriate audit which help answer many questions including  those of energy costs.