Year-end update from the Board of Directors

posted Jan 1, 2016, 2:09 PM by Daryl Angier

Dear 70 High Park Ave. Owners,

The Board of Directors of TSCC 1676 wish you a healthy and happy 2016. Since the Annual General Meeting in September, we have been committed to action and focused on making progress on items of importance to owners, based on your feedback. Below is a summary of some of the accomplishments from the past few months.

As discussed at the AGM in September, a new reserve fund study was completed in April. Sustained low interest rates have made it necessary to implement a three-year program of increases in monthly maintenance fees above the rate of inflation to make up a funding shortfall in the reserve fund, based on revised projections of investment returns. You can expect an increase of approximately 4% in 2016 (year two of the program). You will be informed of the actual increase for your unit in spring following the completion of the budget process.

In November, Kone completed major repairs on the elevators to resolve issues with noise. Based on feedback from owners and residents, the repairs and roller replacements were successful in reducing the noise. The Board now considers this issue resolved and the matter closed. If you have specific concerns or issues with elevator noise please let us know so we can properly document them.

Another issue that is affecting many owners is squirrels climbing on the balconies. The Board has begun the process of assessing this problem to determine what potential solutions exist. In the meantime, we have implemented a full inspection of all balconies to locate squirrel nests and have them removed in a humane manner.

Many cyclists have told the board they would like additional space to lock up their bikes. A committee of owners has now been formed to develop solutions. The first step in the process will be identifying which bikes that are locked to the bike racks belong to current owners and residents. We will then do a cull of any unclaimed bikes. Please watch for details on how to identify your bike and by what date you must do so.

As reported at the AGM, we will be moving ahead with the process of selecting a designer for redecorating the common areas. This will encompass updating the wallpaper, lighting and carpeting. At some point in the process, owners will have the opportunity to provide input into the final look. Please note that the redesign will be a slow process and it will be several months before work can begin.

Another priority for the board has been improving communications with owners. We have put renewed emphasis on sharing information through the 70highparkave.ca website and email list as well as providing more opportunities for owners to give us feedback such as the Open House in November. We want to continue hearing about what’s important to you. Please let us know by using the mailbox at the front desk in the lobby or emailing us through the property manager at manager@70highparkave.ca.

The above issues are just some of the priority items the board has worked to address, but is by no means an exhaustive list. We will continue to fulfill our duty to find opportunities to improve the common living environment and ensure that owners’ maintenance fees are used in the most fiscally responsible manner.

Once again, the board would like to thank Tony, Myla and Victor for their hard work over the past year in taking care of our building.

All the best to you in 2016.

Warren Holder – President
Daryl Angier – Vice President
Ida McLaughlin – Secretary
Albert Yuen – Treasurer
Alex Bernardino – General Manager

 

Comments