Spadina Towers has its own bank account. It was established in 2009 at the request of the Board of Directors via resolution. The properties management company, owned by the McClocklins, has however failed to respect the resolution and has directed residents to make any and all payments to THEIR OWN ACCOUNT WHICH IS COMMINGLED WITH OTHER PROPERTIES. The following video presentation explains this procedure which results in a total lack of transparency regarding resident funds and where their money is being spent. Residents should prevent potential fraud by not permitting commingling of their funds and direct their payments to the SPADINA CONDOMINIUM CORPORATION. Please watch the following video!
Daily Archives: September 26, 2016
Reserve Funds
The national portion of Reserve Fund contributions within monthly condominium fees is 20.3%. The Reserve Fund portion at Spadina Towers is 5.9%!