We have received the first drafts from the engineer for our facades and garages. In summary, this is what was found:

Facades

1. There are just a limited number of repairs that are high priority.
2. There are no repairs that are so urgent that they need to be done immediately.
3. 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

1. There are no repairs that are so urgent that they need to be done immediately.
2. Recommended repairs are mainly due to normal wear on the high traffic areas.
3. Repairs to the Cascades 2 garage should be done in the next 1 to 2 years.
4. 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