The BC Government has just lowered the voting barrier that might otherwise delay important repairs related to depreciation reports. Normally a 3/4 vote was necessary to approve an expenditure from the CRF. It's now been lowered to 51% where the most recent depreciation report recommends the repair. They have also created a new special levy remedy to override the defeat of a special levy for repairs. Now if it fails and you have at least 50% in favor you can apply to the Supreme Court of BC to approve the levy. The work must be necessary for safety or to prevent significant loss or damage. The Strata Corp must apply to the court within 90 days of the failed vote.
This entry was posted on November 10th, 2014 by Owen Bigland | Posted in Video Blog