Reserve Funding - "Reservations"
(How Much Did You Say?)
Thursday, September 12, 2002
- Time: 7:00 p.m. - 10:00 p.m.
- Place: Ramada Don Valley Hotel, 185 Yorkland Blvd., Toronto, Ontario
Now that you have your Reserve Fund Study completed What's Next? This timely seminar will examine what Directors need to know about how to raise the necessary funds to ensure their corporation is properly funded for a more promising future.
The seminar will examine the different funding options - whether it be increases to common element fees, special assessments or outside financing. Expert speakers will provide an overview of the Pros and Cons of each option. Sources and requirements for financing will be examined and issues such as owner approval and bylaw amendments will be discussed. Qualifications for obtaining a loan as well as the best way to structure the loan will be examined. Finally, the need to 'sell' the plan to the owners and keep them informed will be explored.
Astronomical Shortfalls in Reserve Funds have left some directors shocked and scrambling for answers!
This seminar will explore and explain the options available to corporations ... regardless of the size of their funding requirements.
Topics to be Covered:
- How a condominium corporation can collect the money to finance its major replacements/repairs.
- Increased Monthly Contributions, Special Assessments or Loans: Tips from the Experts on the Pros and Cons of each option.
- How a condominium corporation can get a loan; a look at the required qualifications.
- How to best structure your loan to meet your condominium corporation's needs.
- How to manage your reserve fund so you do not run out of money.
- How to 'sell' the plan to the owners and keep them informed.
Our Qualified Speakers:
MODERATOR / PANELIST:
- Richard Pearlstein RCM, AIHM, CMOC, ACCI
President, Northcan Property Management Inc.
- John Warren CA Adams Masin and Tilley LLP
- James Taylor B.A., Sc., P.Eng President, GPM Financial Corp.
- Frank Drake Originator - Mortgage Lending, Firm Capital
- David Morrison B.A., LL.B. President, Morrison Financial