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another special assessment?

Thu, 04/22/2010 - 22:31 — saffy

I know the pool is still up in the air, but for whatever is being done with it, are the owners going to get another special assessment this year? The November 2009 board meeting minutes say there'll be another assessment for $700,000. It seems too soon after the parkade special assessment. I personally wouldn't mind the pool closing and being converted into something else if it gets rid of other problems, but I would prefer if the closure weren't permanent and it was reversible, so that the owners aren't stuck with whatever it is if they don't like it and want a pool back. Is that possible? We just don't have all the information to decide one way or the other though.

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Fri, 04/23/2010 - 07:24 — Cap Chris

Pool

The entire pool issue is very complicated. In a nutshell, it boils down to this:

At the last AGM, the owners in attendance didn't feel they had enough information to make an informed decision one way or another. So, we've been exploring all the possibilities (and their costs) to be able to provide that information, as to do anything other than repair the pool will take a special resolution to enact the changes. If we WERE to just repair the pool, yes, there would have to be an assessment, and I am in agreement with you, that there aren't too many owners who want to swallow that so soon just yet (and it will have to be for much, much more than the last one was).

There will be some repair costs that will be necessary regardless of what direction we (all) decide to go, and we are attempting to get those determined, so we can proceed with those repairs while the final outcome of what to do with the pool is being weighed. In so doing, it will reduce the lump cost of the project (again, either way) and (hopefully) be a small enough amount (for those repairs alone) to not require an assessment and be covered by the reserve fund.

If the pool is converted to another structure, if would then also require a special resolution to convert it back into a pool; furthermore, depending on what it is converted to, it may or may not be possible to convert it back without another massive cost, which (I suspect) many would be reluctant to absorb. And the resolutions take quite a long time, as many owners are unresponsive.

(My preference - and this is just as an individual owner, nothing more - would be to convert the pool into a "party room" which could be booked out for private tenant events. The exterior could be converted into an outdoor patio, and the space could also be used to hold our AGM's within the building, rather than having to rent a space and have so many of the owners traverse the city to attend. However, there are many ideas on how else that space could be used, and that one is just my preference. No potential use has been seriously discussed, as - you guessed it - any change requires a special resolution).

Meanwhile, the pool will remain closed.