The Board has recently received a 1st draft of its newest Reserve Fund Update – which is completed by a 3rd party objectively looking at the Condo Corporation’s financial ability to meet all of its requirements to replace and maintain the outside of buildings an common areas. In general, the initial draft has indicated that the Board has done a good job in replacing those things needed. This document will also give future Boards a sense of what will need to be replaced and maintained over the next 3 to 5 years. As expected, priority areas include finishing off the roofing, fencing, and painting projects that are in various stages of completion already.
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