YCC 397 NEWSLETTER JANUARY Website. Repair Requests COMMON ELEMENT EXPENSE FEES

Transcription

1 Website YCC 397 NEWSLETTER JANUARY 2017 The Board of Directors would like to extend our sincerest gratitude to two of our newest Directors, Catherine Jan and Junaid Bhatti for their dedication and work preparing the YCC 397 website at ycc397.org. The Board of Directors intends to provide quarterly Newsletters posted on this website as well as updates to major projects as they are initiated and completed. If you have any recommendations or questions at all about the content of the website, please contact Stuart Highstead at who will forward the s to the Board. Repair Requests All complaints or requests for repairs must be submitted in writing to Glendale Properties Inc. and are handled based on date of submission as well as nature of the repair requested. Your repair requests can be submitted to: Or faxed attention to Stuart Highstead at: GLENDALE PROPERTIES INC. 112 SHEPPARD AVE. WEST TORONTO, ONTARIO M2N 1M5 Tel: COMMON ELEMENT EXPENSE FEES Please be advised that your CEEF are due on the 1 st of every month. If you are paying by cheque it should be payable to YCC 397. Otherwise please sign up for PRE-AUTHORIZED DEBIT to avoid Collection Action. Please remember if you are two month in areas or more you will be Liened, which is very costly for the Homeowner. 1 P a g e

2 A Fruitful YCC 397 Annual General Meeting 2016 On behalf of the board, I would like to thank our homeowners for the fruitful AGM we had on December 8, 2016 that culminated in the election of three new members of the board. Let s welcome Catherine Jan, Junaid Bhatti and Lorna Vitalez to the board. They will certainly be a good addition and help in managing the complex. They have the professional qualifications and dedication to give time and energy to enhance the physical makeup of the complex and protect the value of our units. The AGM was also a good venue for homeowners to express various issues. Our thanks go to our lawyer Andréa Lusk for ably chairing the meeting, thereby making the meeting more productive and nonconfrontational. We are also grateful for the presence of the auditor Brian Cerson and our property manager Stuart Highstead. They responded well to questions and issues raised by homeowners. We have completed several positive projects over the past year, all while freezing maintenance fees for three years in a row. Another first in the history of our complex is the creation of our website at ycc397.org, launched in the first week of January This medium is an efficient and cost-effective way to relate vital information to homeowners. Aside from updates, announcements and reminders, we are also publishing documents such as the Declaration, By-laws and financial reports on the website. We have also created three groups within the board: finance committee (Zandro and Cesar) Communications committee (Junaid and Catherine) Beautification and social committee (Willie, Edmund and Lorna) We will brainstorm and implement ideas with initiative and long-term vision, and as a unified board. As we face the huge and costly challenge of maintaining an older 181-unit complex that was built in 1978, we need the help and cooperation of all homeowners. Unity is Strength. -Willie Jose 2 P a g e

3 Snow Removal The 2016 / 2017 Snow Removal season did not start as smoothly as we had hoped with this year s Contractor. Through countless phone calls, complaints, inspections and call backs we have seen much improvement. We do expect that now that the Contractor has gotten to know the property and what is expected of them, the service for the rest of the season will be to a higher standard. Owners are reminded to address any complaints or issues with Glendale Properties who will instruct the Contractor accordingly. MEETING SCHEDULES The YCC 397 Board of Directors is committed to ensuring that all Owners are kept informed of the ongoing issues and repairs at the Property. The Board has heard the requests from the Homeowners and will be holding quarterly meetings for all Owners who wish to attend. The next meeting will be held in April Formal Notice will be provided to all Owners once the date and time have been finalized. Home Insurance Just as a reminder to all homeowners, while the Corporation does have insurance to cover the complex and its buildings, this insurance does not extend to your personal belongings. All homeowners are advised that they should have their own home insurance plan to cover the contents of their unit inclusive of all upgrades which have been done. Underground Parking All vehicles in the underground parking garage must be licensed and in working order. Fire regulations require that vehicles must be movable in case of fire. If a vehicle is found that cannot drive, or if the vehicle is blocking the main corridor of the garage, then the parking spot owner will be notified. Failure to address the problem may result in additional action being taken. COMMON ELEMENTS We remind all Owners that it is contravention of the Rules and Regulations to leave any debris, refuse or garbage on the common elements including those which the Owner has exclusive use. 3 P a g e

4 50 Scarborough Golf Club Road Superintendent Task Schedule Respond to any emergency calls, 24hrs/day. fire alarms, plumbing, electrical, roof leaks, garage doors, upper deck access, snow and ice. Inspect 4 sprinkler rooms Monday to Friday and record air and water pressure. Clean all garbage areas daily. 5 places, move all garbage, recycling, furniture and renovation Debris. Arrange bins for pick-up. 3 days a week, up to 8 bins, wash empty bins in summer. Maintain and clean pool, record water chemistry and safety checks. vacuum, clean scum line, add water, refill auto feed tanks, clean catch baskets, backwash filter and order chemicals. Assist contractors. arrange and provide access, check on progress, inspect work, communicate deficiencies. Assist residents. answer pager while on duty, open gates, sell keys and remotes, provide information Pick-up litter from all common areas. Sweep stairwells (at least once a week, seasonal). Change light bulbs and check all outside lighting. Locker and storage room inspections, check for leaks, hazards, damage and lights. Check/Clean all upper deck drains. clean 30 small catch basins and check drain covers in all back door stairwells Monitor cctv cameras periodically throughout evening. provide cd copies to police when requested Check all overhead garage doors and fire doors. ensure key and remote function, inspect chains and cables, lubricate when noisy Check exit signs, change bulbs when necessary. Repair fence gates, replace fence boards. Replace broken garbage bin wheels. Check/Clean Recreation Centre. - mop, vacuum, 6 bathrooms, dusting, empty garbage cans, change water in cooler, refill cups, refill toilet paper and hand towel dispenser. 4 P a g e

5 BANK LOAN. During the 2016 AGM a homeowner posed a question regarding whether the Corporations Loan was a Line of Credit or Loan. On March 1, 2009, the Corporation entered into an agreement with Toronto Dominium Bank wherein the bank agreed to provide the funding of up to $1, for the Corporation to complete Phase 1 of the waterproofing and upper deck repairs. The Funds were provided in the form of draws as the work progressed. The Corporation was provided with the option to borrow the funds as a Fixed Rate Term Loan or a Floating Rate Term Loan. The Corporation approved a Floating Rate Term Loan by way of a TD Prime Rate Based Loan which does not have a penalty for early repayment. The terms of the Agreement between YCC 397 and TD Bank with regards to the repayment and reduction of amount of credit provides that the Corporation pays $7, plus interest monthly which is calculated at the TD Prime Rate % per annum. In conclusion, the Corporation borrowed the funds as a Loan and not as a Line of Credit which, based on the current repayment schedule, is anticipated to be paid in full on July 5, P a g e