We have received the first drafts from the engineer for our facades and
garages. In summary, this is what was found:
Facades
- There are just a limited number of
repairs that are high priority.
- There are no repairs
that are so urgent that they need to be done immediately.
- However, there are
multiple issues of minor or medium priority.
- An example of a minor
issue that was found is that the plugs on the edge of our balconies are loose
or missing. They need to be repaired and/or replaced. This is a minor issue but
at $25 per balcony and more than 400 balconies to do, even that will cost us
$10,000.
- They found many such
issues which may not be urgent but due to the large number of units, may still
be costly.
- The windows of our buildings should
have a lifespan from 45 to 60 years so it is premature to consider changing
them. However after 25 years, almost all should be caulked and some need to be
adjusted. We will decide our strategy for that need by next spring.
Garages
- There are no repairs that are so
urgent that they need to be done immediately.
- Recommended repairs are
mainly due to normal wear on the high traffic areas.
- Repairs to the Cascades
2 garage should be done in the next 1 to 2 years.
- Repairs to the Cascades 1 garage
should be in the next 3 to 4 years.
Financial
Implications
As discussed in our annual report, the financial implications of what
was found is still to be determined. We have money allocated to this study but
it is still too early to know if it is enough.
Next
Steps
Meet with engineers for them to
formally present their findings.
Plan sequence of
repairs.
Obtain quotes
Compile financial requirements