The Board has once again proceeded with inappropriate approval of a Capital Expenditure, that now being the elevators. Once again, this conduct of the Board is obviously in violation of both our Bylaws and the Condominium Property Act. The call for cash is also not permitted prior to receiving the benefits derived from the Capital Expenditure. No such expenditure is permitted without the review and approval of unit owners at a general meeting.
As was the case with the past Capital Expenditure for the heating system, the Board is again promoting the “significant savings in energy and maintenance costs” in their support of the elevator expenditure. As we now know, energy costs following the Capital Expenditure for the new heating system, increased dramatically. The facts have been established, and the onus is upon the Board to provide factual demonstration of the builidngs energy costs. The Boards practice of spending other peoples money at their own will, can no longer be tolerated by residents of Spadina Towers. These Capital projects, will not proceed, until all residents, have participated in a legally recognized vote of unit owners on the matter.
The proposed parkade project is yet another Capital Expenditure being considered without the required participation of residents. This project will not proceed without the required participation of residents.
The garage floor has been neglected for so long, that the soil has caked on the floor and will require much further effort to remove this caked material as soon as possible. This neglect must not be allowed to continue and once the caked material has been removed, monthly washing is absolutely necessary in order to prevent this problem and the need for additional and unnecessary costs beyond that of regular maintenance.
Another Capital Expenditure, in the excercise room, has been inappropriately approved by the Board which again is in violation of our Bylaws and the Condominium Act. Any such expenditure, to be born by residents, is clearly, most disrespectul of responsible management of residents funds. It is suggested that this item be put on a list of Reserve Fund Expenditures TO BE CONSIDERED BY RESIDENTS, at the next annual general meeting.
There is obviously a further question as to who specifically, are the intended beneficiaries of this expenditure. They of course, are very obvious. You would think, that these beneficiaries, would provide a formal request of the Board, to establish some reason for receiving a financial benefit of the Corporation.
After approximately four years, you would think that there has been enough “discussion with consultants” regarding the ongoing problems with the domestic hot water system. It is time for some action, not simply “further discussion”.
Contrary to the comments made in the report regarding the buildings “sparse and sketchy” historical information, there has been since the building’s inception, readily available and very extensive historical information on file, all of which has been kept in the 4th floor office. Since Colliers began management of the building, most records have been stored off site (at another property) as has been disclosed by Colliers employees.
Considering a potential change in management, immediate steps must be taken to ensure that CURRENT, RECENT AND HISTORICAL DOCUMENTS of the Corporation are in fact stored in the 4th floor office. Confirmation of such, must be provided to residents in writing which should be included in the Board’s next monthly report.The Board is hereby advised, that the 4th floor office has always been and must continue to be, the secure place of storage of all of the Corporation’s records. Any objection of management and the commercial owner to this request, must be presented to a general meeting, where a decision will be made subject to the provisions of the Condominium Property Act.
Appropriate building photos are included in our reserve fund study report which are included in the cost of that report. Should any further photos be required, they can easily be taken with a common digital camera. A motion picture taken where there is no motion is not a very responsible expenditure. Why such careless use of residents money when we have such a long list of priority projects?
About ten years ago, it was determined that the penthouse structure could very easily accomodate installation of a very secure, surrounding cable that could in turn be used to anchor window cleaning equipment. Yet every year, we simply hear that “investigating” solutions continue. Again, residents have heard more than enough about these never ending “investigations”.
Residents are reminded, that at the last Annual General Meeting, a question was asked of the treasurer as to why there was no presentation of a Reserve Fund Budget. His response was, that the Board has no expectation of any Reserve Fund Expenditures in the comming year.
Well, we all know now, that this stated position of the treasurer, is well deserving of some very serious question among residents. During the current year, we have been advised of inappropriate approval by the Board of the most costly Capital Expenditures in the history of the building, with estimated costs of BETWEEN ONE AND TWO MILLION DOLLARS! The Board is hereby advised, that all reasonable minded residents will reject any such suggested expenditures, particularly when such projects are considered without any respect for resident’s review and consideration of such projects.