Condo Smarts: No specified time period for project completion

Our strata council is holding a $1.1 million-dollar levy that was approved in the fall of 2022, intended for roofing, and has still not been implemented.There have been many excuses, and while the owners have been patient, several owners have since sold their homes and are now challenging the validity of the levy and the holding of the funds.

For large projects such as this, the recommended method of securing competitive bids and performance assurances, bonding and insurance, is the creation of specifications by an independent consultant, a competitive bidding process for the contractors, and a cash management method that ensures the corporation benefits from short term investments of the levy funds to offset some of the inflation and industry costs.

There is no specified time period in the legislation that sets the terms for implementation or completion of projects. At any time, 20% of the owners in a strata corporation can petition to demand a special general meeting, and include resolutions by majority vote directing the council to implement the projects or provide other directions. This may be the most expedient and direct action your strata owners can take.

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