Part 10 published on 01/05/05
Court approves reports of condominium administrator
An administrator was appointed, under Section 131(1) of the Condominium Act, 1998, to carry out various tasks on behalf of the condominium corporation. Those tasks included a review of the physical condition of the property and, if deemed appropriate, levy of a special assessment and/or delivery of a revised budget for the purpose of obtaining funds for proper operation of the condominium corporation and for the maintenance and repair of its property and assets.
The administrator determined that $3,000,000 was required to fund the most urgently-needed repairs. The administrator levied a special assessment to recover this amount and also took steps to arrange borrowing of the amount (as an alternative), including arranging for the passing of the necessary borrowing by-law.
One of the owners objected to the steps taken by the administrator. However, the court confirmed that all of the steps taken by the administrator were completely appropriate. The owner also expressed a desire to see the entire condominium property sold to a developer. The court agreed that this sale alternative should be explored, and ordered the administrator to expeditiously examine the possibility of selling the entire property (in accordance with the procedures set out in Sections 124 and 125 of the Condominium Act, 1998).