CCI’s Fall 2015 Directors’ Course is taking place this weekend, Saturday November 28th and Sunday November 29th. It will be held at the Hellenic Community Center, Hellenic Meeting and Reception Centre, 1315 Prince of Wales Drive here in Ottawa, running from 9:00am – 4:00pm.
Topics this year include Status Certificates, Reserve Fund Planning, Property Management, What Makes an Effective Director, and Highlights of the New Condo Act.
Our own James Davidson and Nancy Houle will be speaking at the course on Saturday.
See you there!
The opening session at the CCI/ACMO National Condominium Conference on November 12th was a plenary discussion on the proposed amendments to the Condominium Act.
I was particularly interested in certain comments from the panel about anticipated amendments in relation to Reserve Funds and Reserve Fund Studies.
Here are the comments that I found interesting:
1. Definition of “adequate”
The amendments to the Condominium Act and Regulations are expected to include a definition of “adequate”, as well as new time frames for condominium corporations to plan for their reserve funds to be “adequate”. The panel members said:
- The anticipated definition of “adequate” is expected to say that a reserve fund is “adequate” when the annual contribution to the fund can remain constant, increasing only by the assumed rate of inflation from one year to the next.
- The amendments are expected to say that condominium corporations will have to plan for their reserve funds to be “adequate” within a period of three years following each reserve fund study. In other words, condominium corporations will have a three-year grace period following each reserve fund study, during which the corporation can plan for lump sum contributions or for annual contributions to increase beyond inflation.
2. Study Period
The Reserve Fund Study period (currently required to be “at least 30 years”) is expected to be increased, likely to “at least 45 years”. The idea is to try to capture “long lasting” features (such as plumbing infrastructure) that often fall outside a 30-year study period, and therefore can result in large required increases when those features ultimately enter the study period.
For more information on reserve funds, see our previous blog post.
Don’t forget that the ACMO/CCI-Kingston Regional Conference will be held this Friday, 27 November 2015.
The conference takes place at the Ambassador Hotel & Conference Centre, 1550 Princess Street in Kingston, and runs from 8:30am to 4:00pm.
Topics this year include: Emergency Planning, Hydro Savings, AirBnB and a presentation by our own James Davidson on Contracts, Insurance & WSIB. Nancy Houle will be on the Legal Panel in the afternoon discussing changes to the Condominium Act.
See you there!
The CCI/ACMO National Condominium Conference was held this past weekend in Toronto (Nov 13-14), and it was another huge success. The event was completely sold out, even though it was held this year in an even larger venue, the Toronto Congress Centre.
Four of our lawyers attended the National Condominium Conference, and two of our lawyers were speakers at the conference.
Nancy Houle was on a five-member panel for the “Rapid Fire Legal” session on Friday.
Jim Davidson was on a three-member panel for the “ACMO Leading the Way” session on Saturday. Jim was also one of four lawyers who presented the Case Law Update (the Conference closing session) at the Saturday Luncheon.
Feedback about the Conference has been tremendous. Congratulations once again to CCI and ACMO!
The ACMO/CCI-Kingston Regional Conference will be held this year on November 27, 2015.
The Conference will take place at the Ambassador Hotel & Conference Centre, 1550 Princess Street in Kingston, and will run from 8:30 AM to 4:00 PM. It include experts from various law firms, management companies and service areas in the condo industry. Timely and relevant issues geared towards condominium property managers, Boards of Directors and home owners will be discussed. Topics this year include: Emergency Planning, Hydro Savings, AirBnB and a presentation by our own James Davidson on Contracts, Insurance & WSIB. Nancy Houle will be on the Legal Panel in the afternoon discussing changes to the Condominium Act.
The cost of the Conference is $75 + HST, which includes a grab bag, lunch and sessions.
To register for the event, fax this form to Wanda Blakney at 613-531-0857.