Director of Operations, Board of Directors. Auditor, Raymond Chabot Grant Thornton LLP Recording Secretary, Condominium Management Group

Transcription

1 MINUTES OF THE ANNUAL GENERAL MEETING OTTAWA-CARLETON STANDARD CONDOMINIUM CORPORATION NO. 769 HELD ON TUESDAY, JUNE 28, 2016 STARTING AT 7:00 P.M. PARTY ROOM, RIVERSIDE GATE PHASE 2, 3580 RIVERGATE WAY, OTTAWA, ON PRESENT: Rose-Marie Batley President, Board of Directors Clive Wolff Treasurer, Board of Directors Irmela Murphy Secretary, Board of Directors Andy de Schulthess Vice-President, Board of Directors Larry Boisvert Director of Operations, Board of Directors Alex Letourneau Shallon Clarke Auditor, Raymond Chabot Grant Thornton LLP Recording Secretary, Condominium Management Group REGRETS: Kimberly Renwick Property Manager, Condominium Management Group 1) CALL TO ORDER R-M. Batley called the meeting to order at 7:00 p.m. 2) CONFIRMATION OF QUORUM I. Murphy confirms that quorum has been established and the meeting may proceed. 3) PROOF OF NOTICE R-M. Batley confirms that the Notice of Meeting was mailed to all owners and mortgagees in advance of the Annual General Meeting in accordance with requirements set forth in the Condominium Act. 4) INTRODUCTIONS R-M. Batley introduces the Board of Directors: Larry Boisvert, Director of Operations (stepped in to replace Winnona Skafte following her resignation), Clive Wolff, Treasurer (formerly Vice-President, oversees Reserve Fund investments), Andy de Schulthess, Vice-President (formerly President), Irmela Murphy, Secretary, Rose-Marie Batley, President, And Shallon Clarke, Recording Secretary, Condominium Management Group. 5) APPROVAL OF MINUTES OF PREVIOUS ANNUAL GENERAL MEETING HELD ON JUNE 17, 2015 R-M. Batley requests a motion to approve the previous AGM minutes: B. Alce (Unit 1101) moves to approve, Motion seconded by B. Currey (Unit 303). R-M. Batley asks if there are any questions or corrections from the floor regarding the previous AGM minutes:

2 W. McCoubrey (Unit 805) notes that paragraph 4 of Item 6 (Presentation of the Audited Financial Statements) should read The financial statement audited by Raymond Chabot Grant Thornton, rather than The financial statement prepared by Raymond Chabot Thornton. A. de Schulthess notes that Item 6 (Presentation of the Audited Financial Statements) should read for the year ending December 31, 2014, rather than for the year ending 2104 throughout. N. Slover (Unit 706) notes that paragraph 4 of Item 10 (General Discussion) should read N. Slover notes that the dark lighting in elevator 3 has not been addressed, rather than The dark lighting in elevator 3 had been addressed. R-M. Batley thanks the floor for their input and confirms that the minutes will be amended accordingly. R-M. Batley requests a vote from the floor for approval of the previous AGM minutes: All in favor. R-M. Batley notes that Kimberly Renwick, Property Manager, is not in attendance due to illness. 6) APPROVAL OF MINUTES OF SPECIAL MEETING HELD ON NOVEMBER 25, 2015 R-M. Batley requests a motion to approve the special meeting minutes: A. Vinette (Unit 1801) moves to approve, Motion seconded by R. Boisvert (Unit 307). R-M. Batley asks if there are any questions or corrections from the floor regarding the special meeting minutes and there are none. R-M. Batley requests a vote from the floor for approval of the previous AGM minutes: All in favor. 7) PRESENTATION OF THE AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDING DECEMBER 31 ST, 2015 R-M. Batley introduces A. Letourneau, Auditor, noting that he will introduce the audited Financial Statements for 2015, with C. Wolff to follow with in detail. A. Letourneau introduced the Financial Statements for 2015, noting the following: Management is to prepare the Financial Statements and the Auditor s job is to review and provide their opinion on the statements, In the Auditor s opinion, the Financial Statements present fairly, in all material respects, the financial position of Ottawa-Carleton Standard Condominium Corporation No. 769, in accordance with the Condominium Act (1998), Actual operating expenditures for 2015 almost match the expenditures forecasted by the Budget for the 2015 fiscal year, Garage and Windows were largest reserve expenditures, In the Auditor s opinion, the Financial Statements present fairly, in all material respects, the financial position of Riverside Gate Shared Facilities, in accordance with the Condominium Act (1998), Asphalt and Pool Repairs were largest shared expenditures. A. Letourneau exits the meeting at 7:17 pm. C. Wolff notes that the audit was a clean audit (only one adjusting entry was required) before proceeding to provide further detail on the budget and expenditures for 2015: Revenues were 0.3% higher than what was budgeted due to an increase in rental incomes, Gas and water expenses were slightly lower than what was budgeted, Hydro expenses were considerably higher than what was budgeted:

3 Not due to higher consumption, but due to pending rate increases being unavailable from Ottawa Hydro at the time the budget was prepared, Maintenance expenses were lower due to deferral of some planned work and negotiation of a fixed price contract for HVAC maintenance, Contract Security expenses were lower due to less need for fill-in staff, Window Cleaning expense was lower as the fall cleaning was cancelled due to planned major window maintenance, Shared Facility expense was lower, In conclusion, the year ended with a surplus $41,000 as projected, of which $25,000 was set aside to reduce the increase in condominium fees in 2016 while the remainder will remain in operating equity to accommodate any unforeseen expenses. C. Wolff asks if there are any questions or corrections from the floor regarding the 2015 Budget or Financial Statements: J. Mayne (Unit 1607) seeks further detail regarding the increase in utility expenses 2014 (includes gas, water, hydro, insurance), C. Wolff reiterates that the increase in utility expenses is directly related to rate increases for these expenses, The increase in insurance expenses is due to re-assessment of the building, in which the building value increased. A new insurance Broker has been selected for D. Hall (Unit 906) refers to the investments line on page 10 of the Financial Statements and would like to know if the Board has considered investing in LED lighting C. Wolff notes that the investments line Mr. Hall is referring to is solely for Reserve Fund investments, the type of which are governed by the Condominium Act. Building improvements such as LED lighting are not included in Reserve. R-M. Batley notes that LED lighting is being considered by the Board of Directors. M. Metz (Unit 403) seeks further detail regarding the pool repair expense from Shared Facilities, A. de Schulthess notes that the pool design selected by Urbandale was unique and included a floating floor in which the sealant to the walls failed repeatedly. Rather than incur continued expenses for repeated re-sealing of the membrane, the Board opted to purchase a plastic membrane liner with a 15- year guarantee from a reputable supplier. 8) BOARD REPORT R-M. Batley presents the Annual Board Report, pointing out the following: Maintaining the high level of security at Riverside Gate is of utmost importance, and is therefore a consideration in all Board decisions, Condo Rules are implemented by the Board in the best interest of all owners, Communication is always a challenge, Non-routine activities included improvement to the ventilation in the hydro room and painting of hash marks on the roadway at the entrance, which are not mandatory under the highway code, Goals for 2016 include: improved communication with owners, completion of the key fob and remote programming, LED lighting retrofit,

4 better security cameras. J. Mayne (Unit 1607) seeks clarification on the reasoning behind the need for better security cameras, as well as an update on the financial obligations by the Corporation with respect to the traffic light at Riverside Drive and Rivergate Way: R-M. Batley notes that the current security cameras are aging and have begun to malfunction, additional security monitors are also required, A. de Schulthess notes that Urbandale agreed to pay for a third of the cost of operation of the traffic light on behalf of Riverside Gate Phase 2 at the time of construction, along with a third paid by each of Riverside Gate Phase 1 and the plaza, which is not a huge expense at a cost of approximately $700/year. Financial responsibility for the traffic light should be turned over to the City of Ottawa once traffic levels are high enough. The City Councillor has been actively pushing for turnover on the Corporation s behalf. N. Slover (Unit 706) notes that, in relation to the key fob and remote programming, the sensor/antenna in the parking garage seems to be malfunctioning, as it is often unresponsive when exiting the garage: L. Boisvert notes that the sensor/antenna picks up the remote signal better when the vehicle window is down, and reminds owners to aim their remote for the top left side toward the antenna. 9) ELECTION OF THREE DIRECTORS There are two three-year positions and one two-year position on the Board to be filled. Four candidates have been nominated for election, Larry Boisvert (Unit 1907), Philipe Henault (Unit 1001), Irmela Murphy (Unit 207), and Clive Wolff (Unit 1407): Each nominee gives a brief speech on why they would like to be elected to the Board. R. Watkin (Unit 1902) reminds the Board that they should ask for any additional nominations from the floor: R-M. Batley confirms that this is correct and asks for any additional nominations from the floor, of which there are none. B. Gittens (Unit 1006) and S. Danoff (Unit 208) have been appointed as scrutineers for the election. Owners cast their vote on the ballots provided, which are then collected by the scrutineers to be tallied. The scrutineers leave the Party Room. Results of the election are to be announced following General Discussion. A. de Schulthess thanks the Board of Directors as well as various Committees such as the Social Committee, Library Committee, Landscaping Group (a collaborative effort along with Riverside Gate Phase 1), Walking and Card Groups for their efforts in ) GENERAL DISCUSSION N. Slover (Unit 706) seeks further detail on the Board Report and the Board s intentions for 2016: L. Boisvert began by noting that the Board has considered a number of options for LED lighting in the common areas of the building, and have narrowed their search to one potential supplier. The initial installation of the lighting will take place in the lobby area of the 2 nd floor and feedback from owners is appreciated. Following the 2 nd floor lobby, all fluorescent tube lighting and stairwell lighting will be replaced with LED, with a 5-year return anticipated on the investment. The LED lighting project was to commence on the date of the meeting, but has been deferred due to the Property Manager s illness/absence. The project should commence in the weeks following the 2015 AGM; L. Boisvert explained that the flex connector that carries water from the penthouse level to the garage at Riverside Gate Phase 2 has been replaced following the failure of same at Riverside Gate Phase 1. The

5 Corporation s engineer has recommended replacement of additional connectors in the mechanical room; however, the Board is confident that this major expenditure is not necessary at this time; L Boisvert noted that another potential major expenditure involve the replacement either one or both sets of heating boilers in order to improve the heating efficiency for the building. One of three potential suppliers is scheduled to meet with Kim Renwick, Steve Chenier,and Larry Boisvert shortly to begin this process. The objective is to select one supplier to undertake the efficiency study and one supplier (likely the same one) to undertake the Engineering that would be involved in this project. The goal is to have these studies done by no later than early November in order to budget these potential major expenditures in N. Slover thanks L. Boisvert for his detailed explanation. N. Slover (Unit 706) requests tours of building infrastructure: R-M. Batley confirms that the requested tours are being organized. S. Slover (Unit 706) requests purchase and installation of umbrellas for the outdoor patio tables at the BBQ patio as well as an increase to the pool temperature: R-M. Batley confirms that said requests will be taken into consideration by the Board. R. Boisvert (Unit 307) commends the Board on their efforts throughout 2015 and the floor echoes this sentiment with applause. The scrutineers return to the Party Room with results of the election, which are passed on to R-M. Batley: C. Wolff is elected to a 3-year term, I. Murphy is elected to a 3-year term, L. Boisvert is elected to a 2-year term. 11) ADJOURNMENT R-M. Batley requests a motion from the floor for adjournment of the meeting: P. Wood (Unit 703) moves to adjourn the meeting, Motion carried. Meeting adjourned at 8:07 pm.