[PREVIOUS AGM MINUTES]

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2021 ANNUAL

GENERAL MEETING

OF THE UNIT OWNERS of York Condominium Corporation No. 110, held on Tuesday, October 26, 2021 at 7:00 p.m. via video conference. 

  [Moved, seconded and accepted at 2022 AGM, Oct 25, 2022] 

Representing the Board

Wendy Stewart                       President

Adam Capstick                       Vice President/Finance

Tim Sly                                   Secretary

Howayda Tanious                   Director

Barb Scott                               Director

Guests

Brian Cerson                           Auditor, Brian T. Cerson, Chartered Professional Accountant

Diane Zerafa                           Condominium Manager, Goldview Property Management

Rebecca Pedoe                        Executive Administrator, Goldview Property Management

Katherine Norenius                 Recording Secretary, INaMINUTE Ltd.

1.0       CALL TO ORDER / INTRODUCTIONS

Rebecca Pedoe, of Goldview Property Management, introduced herself and advised Owners how to vote, make or second motions and ask questions.

Wendy Stewart, President of the Board, presided as Chair and welcomed the Owners to the Annual General Meeting (AGM) of York Condominium Corporation No. 110. The Chair introduced the Board of Directors, Property Management, the Auditor and the Recording Secretary and called the meeting to order at 7:08 p.m.

2.0       NOTICE OF MEETING AND CONFIRMATION OF QUORUM

The Chair confirmed that the Notice of Meeting, dated October 11, 2021, had been sent within the required 15 days to each registered Owner or Mortgagee, in accordance with the requirements of the Condominium Act, 1998 (the Act) and the By-Laws of the Corporation and advised that the Proof of Notice was on hand should anyone wish to view it.

There were 25 Units represented electronically in person, which satisfied the AGM quorum requirement of 25% of the Unit Owners represented in person or by proxy, in accordance with the Act. With a quorum present and proper notice having been given, the Chair stated that the Annual General Meeting was duly constituted to conduct business.

3.0      APPROVAL OF MINUTES OF THE ANNUAL GENERAL MEETING MINUTES –

NOVEMBER 12, 2019

The Chair stated that the minutes of the Annual General Meeting held on November 17, 2020 had been duly sent with the Notice to all Owners/Mortgagees of the Corporation and asked for errors and omissions to be brought forth from the floor. There being no corrections the Chair asked for a motion to adopt the minutes to record as presented.

On a MOTION by Emilie Lamy (Unit 9), seconded by Alan Conquergood (Unit 55), it was resolved to dispense with the reading of the minutes of the Annual General Meeting held on November 17, 2020 and to adopt the minutes to record, as presented.

The motion was carried.

4.0       AUDITOR’S REPORT

4.1       Presentation of Audited Financial Statements for the Period Ended May 31, 2020

The Chair announced that copies of the Auditor’s Report and the Audited Financial Statements had been sent to all Owners with the Notice of Meeting. The Chair asked Auditor Brian Cerson to review the Audited Financial Statements for the period ending May 31, 2021.  

The Auditor advised that the audit report was clean, meaning Owners could rely on the accuracy of the financial statements as they fairly represented the financial activities of the Corporation for the year ended May 31, 2021.  

The Auditor referred Owners to the Balance Sheet, noting assets in cash, investments, common element fees receivable and prepaid expenses, for a total of $503,000. After liabilities of $58,891 net assets totaled $444,000, approximately $64,000 higher than prior year, largely due to growth in the Reserve Fund.

The Statement of General Operations showed revenues of $495,000, of which approximately one (1) third was allocated to the Reserve Fund. Operating Expenses totaled $347,225, resulting in a deficit of $8,139 for the year. When added to the deficit balance at the start of the year, the Operating Fund balance had a deficit of $16,000 as of May 31, 2021. The Auditor noted that it would be unwise to continue to grow the deficit, so the Corporation would need to reduce expenses or increase maintenance fees.

The Reserve Fund balance, after allocations of $155,000 and expenditures of $89,000, was $460,000 as of May 31, 2021. The most recent Reserve Fund Study had been conducted in March 2020.

The Chair opened the floor to questions, and there being none, thanked the Auditor for his presentation.

5.0       APPOINTMENT OF AUDITORS

The Chair called for a motion to reappoint the Auditor for the fiscal year ending May 31, 2022.

On a MOTION by Tim Sly (Unit 8), seconded by Barb Scott (Unit 15), it was resolved that in accordance with Section 62(b) of the Condominium Act, 1998, the firm of Brian T. Cerson, Chartered Professional Accountant be appointed Auditor of the Corporation, to hold office until the close of the next Annual General Meeting of the Owners, or until their successors are appointed at a remuneration to be fixed by the Board and that the Board is hereby authorized to fix such remuneration at a duly called meeting of the Board.                     

The motion was carried.

7.0       BOARD’S REPORT

W. Stewart presented the President’s Report, providing an overview of accomplishments and challenges during the June 1, 2020 through May 31, 2021 fiscal year. The President’s report is appended to these minutes.

8.0       NOMINATION / ELECTION OF TWO (2) DIRECTORS

81        Explanation of Election Procedures

Adam Capstick took over as Chair for the election portion of the meeting, and announced that there were two (2) positions available for election, each for a term of three (3) years. The election was for Directors and the new Board would decide upon the positions each Director would hold.

8.2       Nomination of Candidates  

The Chair informed attendees that, prior to delivery of the Notice of Meeting, the following candidates had informed the Corporation of their intent to stand for election and had proven eligibility:

• Timothy Sly (Unit 8)

• Wendy Stewart (Unit 48)

The Chair proceeded to call for nominations from the floor three (3) times, and there being none, asked for a motion to close the nominations

On a MOTION by Nancy Barnes (Unit 24), seconded by Jim Scott (Unit 15), it was resolved that the nominations from the floor be closed.           

The motion was carried.

8.3       Election Results

The Chair invited each candidate to make a brief presentation.

The Chair stated that:

Timothy Sly (Unit 8) was duly elected, by acclamation, as Director of the Corporation.

Wendy Stewart (Unit 48) was duly elected, by acclamation, as Director of the Corporation.

W. Stewart resumed as Chair.

9.0       OTHER BUSINESS

The Chair opened the floor for questions.

Vesna Spasojevic (Unit 57) asked for clarification regarding closing the gate to the church parking. The Owner asked why the gate was being closed as it was not a gated community and it provided convenient access for deliveries and for children going to school.

The Chair advised there had been a variety of issues with the gate, which had initially been opened for people who were paying for parking at the church. The gate had been vandalized and had to be repaired repeatedly so the Board finally decided just to close it up. The Board was willing to have another look at it, but it was an expense to the Corporation, and therefore the Owners.

Nancy Barnes (Unit 24) noted that the hand railings had been painted on most units but there was a tall, trellis-like rail that had not been painted and Raj had advised the Owner that it would be the Owner’s responsibility to paint it. The Owner asked if she could have a list of which items were the Owners’ responsibility.

Management advised that they had not been included in the scope of work but she would have a look when she was on site October 27, 2021, as they would need to be stripped and repainted.

Jessica Medrano (Unit 69) inquired who made decisions, such as the decision to close the gate and parking control, and who decided whether to incur expenses. The gate closure was inconvenient and spending money on parking control during a pandemic did not make sense. The Owner further asked if Owners had any input.

The Chair advised that the Board made those decisions. Issues arose and were brought forward, such as when concerns were brought to Management by Owners. The Board investigated issues and spoke to Owners before making decisions. The parking decision had taken several months and the Board investigated what was being done at other complexes, looked at the number of complaints that were being received and investigated options for parking control. The Board then discussed the issue and made a decision, which was minuted. If there was something in particular an Owner wanted input on they should bring their concern to the Board and they could ask to be invited to a Board meeting to have their say on an issue. The Board always obtained three (3) quotes and made decisions based on what they thought the budget could handle. The Board reviewed the financial statements and discussed various projects at the monthly Board meetings.

Jessica Medrano indicated she had never been approached by Board members, though sometimes she did get flyers.

The Chair clarified that items particular to individuals was not communicated to Owners. She spoke to her neighbours and the other Board members spoke to various Owners. As an example, the Board did a survey regarding the Rogers contract and communicated the results to everyone. The Board did more research and made a decision based on the results of the survey. As Directors they could not ask Management for an Owner’s phone number or email address.

Jessica Medrano stated that she had seen a number of rats on the property and was concerned that more money was being spent on parking control than on pest control. She had contacted Management but had not received a response.

The Chair noted that pest control was actively monitoring bait stations for the past three (3) or four (4) months. With regards to Management’s response, D. Zerafa and Raj tried to respond quickly but the best way to contact them was through email.

Management requested that the Owner resend the email about the rats because Management did not see it.

Vesna Spasojevic (Unit 57) stated she saw children jumping over the fence and she noticed the new contractors came and closed the gate, then opened the gate the next day. The Owner asked what it cost to close the gate.

Management advised that the gate was removed and was fenced off.

The Chair added that children had always jumped the fence.

Management added that they had contacted the principal of the school, who denied the damage to the gate was caused by the school children and asked that Management send photographs as proof. Management asked that if any Owners had pictures of children jumping the gate to send them to Management. The cost of the fence was not known as the bill had not yet been received.

Bernadette Surman (Unit 37) noted there were more rats because of the sewer replacements going on nearby.

David Burrell (Unit 78) thanked Management and the Board for the work they did and offered two (2) observations. First, runoff from the eavestrough on Unit 78, the end unit, was eroding the hill beside his Unit leading to the shared pathway. A concrete slab had been placed under it but water was still getting underneath.

Management noted that it was observed during a walkthrough with the roofer the prior week and the roofer would be looking at it.

David Burrell noted that water seemed to be a big part of the maintenance fee, particularly since people were at home more during the pandemic. The condominium corporation the Owner lived at previously had a plumber go into the units to check for water waste like leaking toilets. The potential savings could be worth the upfront cost.

The Chair noted that it was probably time to do that again, though communications had been sent to Residents about checking for water loss. A study had been done previously. With everyone at home, that was a big reason for higher consumption and the Board would have to budget for it. The supplier had come in to look at metering everyone’s unit individually but it could not be done because of the units’ plumbing. The Board would add it to their agenda.

T. Sly added that the units used to have old fashioned air conditioning units which ran water all the time and there might be a few of those units left. When paying for water as a collective, people tended not to conserve as much. The Board would keep an eye on it as the pandemic resolved.

Danica Rajic (Unit 30) stated that she thought the $7,000 overdraft was unnecessary and it would be good not to have it happen in the future. The Owner inquired if it was the Board’s responsibility or Management’s.

Management explained it sometimes happened. There had been a couple of items that they thought were going into the next fiscal year but did not. They would try not to have it happen again going forward.

A. Capstick added that every budget was an approximation and the Board tried hard to keep fees low.  The easiest way to eliminate overdrafts was to increase fees, but the Board tried not to do that and tried not to waste money. An operating deficit of $16,000 over two (2) years of a pandemic was not too bad and there had not been a special assessment in 50 years. When running a deficit, the only way to get out of it was to increase fees.

The Auditor added that most condominiums operated on a break even target each year, which was sometimes easier said than done, as things could change, such as the large insurance increase and grass seeding twice in one (1) fiscal year. The simplest solution was to raise fees and the second part was to watch costs, such as determining if it was necessary to seed the grass the next year. As costs inflated, it was necessary to take a two (2) pronged approach, a modest increase in fees and keeping a close eye on expenditures.

Milos Orlic (Unit 42) asked about the process to renew with Rogers for the next year. The Owner noted he was new and wanted to know if the Corporation was going to vote to stay in the contract and if he could opt out of the contract. Everyone’s needs were different and the Owner had not had cable in five (5) years and thought it was a waste.

The Chair advised there were three (3) choices: Bell, Rogers or neither. The Board had asked people for their opinion and a number of people did not want cable and were interested in other options. The cable companies would not let people pick and choose so everyone would have to use their phone, cable and internet. The Corporation had signed a deal with Rogers but needed to rethink it and look at other options. Because it was part of the monthly fees, it was not clear if the Board had the authority to remove it, so the Board would start to research the issue early.

T. Sly added that more and more people were disconnecting from cable and in the last survey about 1/3 wanted to drop it.

Howayda Tanious (Unit 7) noted the deficiency in the budget, the expenditures for the year such as water and sewer, and people working from home were all unexpected. Insurance had increased dramatically and the Board had been working hard trying to get a standard unit by-law signed off to manage insurance costs. The Director encouraged everyone to look at the amount of money spent on insurance, noting that with claims over the last two (2) years more increases were expected. It was necessary to sign off on the standard unit by-law to contain costs. As well, the Director noted that she saw people driving against traffic to park, mostly Residents, and asked everyone to respect the rules and drive in the right direction. It was very dangerous, especially for children who did not expect cars to come from the other direction.

The Chair added that it was a big concern that people were not respecting the one (1) way sign.

10.0     ADJOURNMENT OF MEETING

There being no further business to conduct, the Chair asked for a motion to close the meeting.

On a MOTION by Alan Conquergood (Unit 55), seconded by Lara Maalouf (Unit 58), it was resolved that the Annual General Meeting of Owners of York Condominium Corporation No. 110 be terminated at 9:02 p.m. as there was no further business to conduct.     

                                                                                                                                The motion was carried.

APPENDIX A

PRESIDENT’S REPORT

Thank you for attending the AGM – our second ZOOM AGM!  Do I detect a trend here?  Seems life has become somewhat different for most of us since COVID19 arrived. Whether it is your first AGM or 21st…. your first Zoom meeting or 2021st Zoom meeting – welcome.

It’s my pleasure to be able to share a recap of the YCC 110 story for the past year, and to highlight some of the projects we accomplished.

This AGM is focused on the year beginning June 1, 2020, ending May 31, 2021. Because we have a mid-year fiscal year, it is sometimes hard to focus on the previous year – but we are going to try.

You already have had a great review of the financial picture from our auditor, Brian Cerson. Thank you again Brian, for continuing to provide great guidance, timely financials, and always for refreshing our collective knowledge of balance sheets and income statements and so on. 

This is the third year running we have tried, as a board, to balance the need for repair and maintenance with the need to build our Reserve Fund, so that we can maintain (and elevate) property value and ensure a safe and secure community. We are guided by our operating budget (the expenses that we project such as hydro, landscaping and snow removal, water expense, property management fees and so on) and our Reserve Fund study document, which is required by law.  We use the Reserve Fund study to determine the major repair and maintenance work that needs to be done around the complex.  Because the approximate cost and timing for the work is a projection – an estimate of how much and when - some projects can be done sooner than expected, some later, depending on need. It guides our actions.

Once again, some of our planed work was rescheduled or deferred. We are still seeing construction materials and availability (e.g., lumber, metal work, and contractors) in short supply due to COVID. And as you know, prices for some commodities, like lumber, have doubled or tripled, so we are cautious at times about what we spend.

Your Board considers that all of us – be you a homeowner, tenant, paid employee, service provider, or volunteer – will try to protect our investment in our homes.  We also want to protect the health of that same team of individuals, so maintaining COVID protocols is essential, and we will continue to do so.

Real Estate Update / Unit Sales June 2020 – May 2021

Mark Howarth and his mom Luann Howarth (both with Royal Lepage) circulate a newsletter regularly on happenings in the area.  Mark and Luann are owners at Silver Shadow Path; Mark was on the Board for a term.  I asked Mark to provide some sales data for the meeting, and he was happy to help.

Three units sold at Silver Shadow Path during the period we are talking about, with an average price of $811,889 (low price was $747,777; high was $876,000).  Normally, we “lead the pack” of comparable townhouse/condos in the area (Old Burnhamthorpe, Rathburn & Mill, Centennial Park, Renforth and Rathburn).

 However, prices and sales have been volatile this past year, and in Mark’s opinion, panic buying (people are scrambling to get a place they can afford) and a lack of listings is making the market uncertain and unpredictable.  At Centennial Park, for example, there was a gap of $80,000 between the top sale in their complex and the next highest.  And at The East Mall, there’s a spread of $255,000 between two sales.  That kind of gap is unprecedented and because of that kind of activity, it is hard to know what to expect when fear is driving the sales process.  We shall see how things proceed – we’ve had a couple of units sell in the last three months and another is up for sale now. The price of our units seems to be steadily rising – more so when renovations have been done.  We are coming up to a 50-year anniversary soon – we believe the complex was incorporated as a Condominium in 1973, which would mean 2023 as a 50th birthday.  More on that as we get closer.

From a monthly maintenance fee perspective, we continue to be competitive:
Centennial Park - $658; Renforth – $450; East Mall - $501 Silver Shadow Path - $476; Old Burnhamthorpe- $593;  Rathburn & Mill - $461

One of the great things about this complex are the “resources” within.  We have access to expertise –so our real estate expertise is deep!  We rely on another former Board member, Lucky Millidrag and his family to help us maintain the “sell-ability” of the complex.

Accomplished this year:

Landscaping and winter preparation – from our supplier Everall Property Management. 

• Cutting the lawns, leaf pickup is underway, winter readiness is next on the list. 

• As in previous years, ice melter (It is expected to arrive by month end) will be delivered to each unit, and the salt bins will soon be positioned around the complex.  They will be filled with road salt for use on sidewalks and driveways.  All units will receive an email or paper copy of the ice melter instructions.

• We continue to work on preserving the trees in the complex through Davey Tree – inject the ash trees, maintaining the canopy, trimming for safety where needed.  We have had several trees die (quite suddenly) this year and they have either been removed and replaced, or are in process,

Communication and other projects

• Spring and winter newsletters were circulated

• Standard Unit Bylaw (SUB) flyers were circulated, and we continue to gather votes (called proxies) for the SUB. We need 4 more owners to submit a proxy vote – then we will call a special meeting to pass the bylaw.
  If you haven’t done so yet – or need more information, please contact any one of the Board members or Diane Zerafa.  We will gladly share information, answer questions, bring you a proxy form…

• Our visitor parking is being monitored by EZPermit and we seem to have a better handle on managing available space for visitors.
  For new owners and those who may not have had visitors (it’s been a long haul with COVID!), remember to register with EZPermit for parking after 7 pm. Please contact the management office (Diane Zerafa or Raj Chatha to review the procedures and get the information you need.

• We continue to ask you and your guests follow the rules.  It’s really that simple.  It makes life easier for all.  Slow down. Guests in the parking lot; owners in their driveways.  NO ONE on the road!!

Planned work: Street facing caulking around doors, windows, garages; painting of hand railings, repair of concrete steps, concrete pads as needed.

This work has been planned for some time; was tendered in the winter of 2021 and we selected Ontario Roofing to do the work, which was completed this past summer (so it’s in next year’s plan, given our calendar.)  The metal railings in the backyards of units with balconies are not in good shape; however, it is cost-prohibitive to scrape, sand, prime and repaint them. We will go back to the drawing board and see what we can afford to do next summer.

Cables and Wires – an ongoing saga
This is a repeat item from last year - we are making some progress in getting Rogers and Bell to deal with the cables they have rigged up throughout the neighbourhood.  They are not easy companies to deal with, and COVID didn’t make it any easier.  I had hoped not to have to hear about those cables again, but here we are!!  If you have cable issues (like outages) please follow our suggestions on the Silver Shadow Path website (www.silvershadowpath.com) – call them or email them, keep a record, let the management office know you’ve been in touch.  Only by pooling together our information on service issues can we make progress! 

The Rogers contract expires August 2022 so we will begin discussion with the community about what options are available to us.

Emergency repairs
We deal with leaks, roof issues, fence breakages, tree pruning, nest removals, and so on.  Please contact Diane Zerafa if you have something that needs attention.

Updated Reserve Fund Study
Cion Coulter completed the study, and it was approved by the Board in April 2020.  The study takes place every 4 years and guides our expenditure of reserve funds, as well as helps us determine how much money the reserve fund will need to be fully funded for the work at hand (this is in part how the monthly maintenance fees are determined). 

Silver Shadow Path Website
Created, designed, maintained by the ever-so talented Tim Sly!! It’s a great resource and handy spot to find contact numbers and information. 

Passages
We have had several ‘departures’ this year – long-time owners moving, new neighbours arriving and settling in, and some deaths. Angie Fiorentino was one of our owners who passed away last January.  You can read about her on the website, and visit the tree planted in the parkette (between #48 and #49). 

Thank You
To Barb Scott, who plants and tends to the planters (at the east entrance) and the gardens in Angie’s Park.  They look great! And a special note of thanks to Mr. Anton Volek at Unit 49 for the use of his hose to keep Angie's Park trellis & planter boxes thriving through the hot summer months. Many thanks.

To Tim Sly for the website work; for enabling our monthly Board meetings on Zoom, for being a staunch advocate for all things Silver Shadow

Finally – a big thank you to Diane and Raj, and the support team at Goldview, who have continued to provide coverage for us during the year, maintaining COVID protocols while balancing our needs.  We are thankful to have you and the Goldview team working for us!

Stay safe and healthy, one and all. Thanks again for attending.