Friday, January 01, 2021

Budget Newsletter

Budget Newsletter

The Place Royale Board of Directors are very proud to approve a Zero Percent increase in Condominium Fees for Eight Years in a row. We understand the impact that the COVID-19 pandemic has had on our neighbors and the Province.

Many people’s livelihood has been affected by business closures and the ability to earn a living. In September 2020 – the Board Members; Val, Manny, Danielle, Mohammed, and Dev discussed the possible hardship of residents due to COVID-19 and found that community support is needed more now than ever before. With this in mind, the Board of Directors voted with one accord to maintain a Zero Percent Increase in Condominium Fees for an eighth year. Our financial position in 2013 was a modest $365,000 in our reserve fund account. In spite of conducting major repairs and improvements to the building from 2013 -2020, we have been able to maintain a Zero Percent increase in Condo Fees. Our reserve fund to date is now at $2,670,000. This level of savings required a lot of hard work and dedication by the Board of Directors.

It is my expectation that all residents play a role in increasing our savings. Whether you own or rent, a simple request; use the utilities with respect. Turn your lights off, reduce water usage, and wash your clothes outside of peak hours. Every bit adds to the bottom line.

2021 Activities, Recognitions, and Mental Health

Mental/Physical Health:
Covid-19 restrictions have had an impact on many people especially those working from home, the elderly and small children. During the summer many residents were able to go outside for a walk; however, during winter, going outside for a walk may not be possible. To support the mental and physical health of residents, the Party Room has been temporarily converted into a large Gym.

- Persons 55 years and older will be able to work out from 6AM to 12PM
- Cleaning from 12PM to 1PM
- Persons working/studying from home can work out from 1PM to 4PM
- Cleaning from 4PM to 5PM
- Each person using the Gym must sanitize before and after use.
- Masks must be worn at all times
- Booking must be made with security for ONE hour at a time
- Should protocols not be followed, the amenity will be closed
- A notice on when residents can use the Gym will go out to all suites after the Region of Peel comes out of the lockdown state

COVID-19 Response:
The cleaning protocols put in place have shown to be very effective. Staff are ensuring that touch-points are being cleaned and sanitized on a regular basis. Sanitizing Stations have been placed on each floor and at the Entrance to the building, including the underground parking.

Staff Recognition:
It is very important that we recognize the dedication of all staff that are working to make sure that we are safe:

Security Supervisor: Harsha
Afternoon Shift Officers: Harman, Iqbal, Ray, Rajwinder, and Sandeepa
Cleaning: Jay and Rose
Cleaning: Bianca: currently Bianca works with a different building however her work was exemplary during the early stages of the COVID-19 pandemic.
Management Staff: Payal and Sundeep
Residents: Who volunteer, wear masks, and wait for a free elevator.

2020 Completed Repairs and Maintenance

Heating System / Domestic Hot Water:
In December 2019 the Heat Exchanger for the Domestic Hot Water failed and was replaced with a new one.

Heating System Boiler 1 and Boiler 2:
Boiler 1 Failed in February 2020 and was replaced, Boiler 2 was checked after Boiler 1 – then was repaired and found to have severe issues with the Heat Exchanger. As such both Heat Exchangers were replaced in the first quarter of 2020.

Booster Pump 2:
The back-up booster pump failed and a reduced water flow to the building was experienced. This pump has since been repaired.

Games Room:
The Games Room was an area that needed to be repaired for over two decades. During the lockdown, the Games Room was repaired and will be ready to be enjoyed once the pandemic ends.

Cast Iron Pipes:
98% of all Cast Iron pipes in the underground parking have been changed. Many of these pipes had debris stuck inside that had accumulated over the years and became as hard as rocks.

Pipes on different floors:
There were 15 pipes that needed to be replaced. These pipes form part of the plumbing for the building. In many cases the pipes failed due to erosion over the years.

The Garage Door:
It was damaged by a driver and had to be repaired. The system is working properly again.

Asphalt Repairs:
Repairs to the front of the building was conducted in March 2020. The damage was caused by a break in the main water supply in December 2019.

Visitor Parking:
In summer, the Visitor Parking was painted with an asphalt base paint. This asphalt was a protectant for the membrane of the suspended deck and should prolong the life span of the parking area.

Future Projects

Guest Suites:
The Guest Suites construction will commence in February of 2021. The start of construction could be delayed due COVID-19 restrictions. These suites, once completed, will serve as a unit for isolation in case a family member contracts COVID-19 and needs to isolate.

Domestic Hot Water:
Currently there is only one Domestic Hot Water Boiler. The Board of Directors will be looking to add an additional Domestic Hot Water system as a backup.

Booster Pump 1:
This Booster pump sends water from the city water main to all suites. We will be replacing the faulty pump in 2021. Water shutdown will be required.

Drain Pressure Washing:
Drains in the underground will be pressure washed in the Summer of 2021.

Window Replacement for the entire building will cost approximately $3,000,000. Currently the Board of Directors have been able to save $2,000,000. It is our hope that by 2027 we will have the necessary funds to replace the windows for all suites. The three million required for these repairs are current rates and could change.

The Swimming Pool construction will start in 2022 if possible, due to many other areas of repair becoming a priority. The pandemic has also delayed start dates of all construction and repair projects.

Budget 2021

Copies of the Budget will be available at Security for pick up during the week of January 11th 2021.

Dev Maharaj: President Board of Directors