March 30, 2015
115 Hillcrest Ave
Mississauga, Ontario L5B 3Y9
Dear Unit Owner(s),
RE: Exercise Room Make-Over at 115 Hillcrest Ave
The Board of Directors at PCC 420 would like to re-table continuing with the Exercise Room Make Over which has been in the making since November 2012.
The Board of Directors is required to ensure the building is maintained and does not go into a state of disrepair. This maintenance/replacement is a reserve fund item that has been slotted for repair by the Corporation’s Engineers. Money contributed each month by way of maintenance fees is allocated between the operating costs (monthly bills and contracts) and the reserve fund (long term maintenance based on a schedule prepared by engineers). Reserve monies can only be used for their assigned purpose. i.e.: we can’t use the fitness facility funds to add a playground.
To date a considerable amount of time has already been put into this project by the Design Committee. Consultants, Management and the Board of Directors. The Design Committee was extremely conscientious about the cost of this project, as well as the layout and space usage and many variations were considered before the final design was approved. There are also a number of issues with the current space that will require remediation work regardless of the proposed improvements.
Owners called a special meeting November 25, 2014 on this topic. The Board took the opportunity to explain the design plan and costs. During the Meeting, there were no adverse comments or concerns raised about the design, other than allocating gender specific washrooms (which we can easily accommodate as there are two full shower/washrooms in the design plan). The project was designed by an architect in consultation with the various engineering specialists (structural, electrical and HVAC) to ensure the room is compliant with new Building Codes and air flow ties into the existing building systems.
This item will be re-tabled at the Annual General Meeting on May 25th 2015 for voting. Please take the time to read the following notes and the attached proposed design. If you have any questions, please contact building management before signing your proxy. We would prefer to see you at the upcoming AGM but realize that this may not be possible due to your personal schedule.
Kindly submit your questions or concerns on the attached page so they can be clarified/addressed/discussed before the AGM. We will try to post replies to the inquiries in the elevators in advance of the AGM to keep the information flowing so you can make an informed decision. We will also condense all the questions/concerns that are submitted along with appropriate replies into the AGM package which will be mailed to all owners May 5th 2015 (20 days prior to the Annual General Meeting).
- The proposed Fitness Room Design includes:
- 2 -Stretch Zones
- Gym Zone (Cardio Machine Zone)
- Gym Zone (Weight Zone)
- 2 full restrooms with a shower/toilet/sink in each room. The rooms are fully enclosed single person use.
If you would like to look at the design board (fabrics, colours, materials and larger details of the project) it is available at front desk from April 6th to May 11th 2015 for viewing.
- The cost of the make-over will be taken from the Corporation’s Reserve Fund:this means the funds have been allocated for this project and is already available; the project will not affect your condo fees.
- Reserve Fund allocation to the fitness facility is $95,000, the balance of the cost will come from the surplus from operating savings over the past years. currently in the Contingent account on the balance sheet.
- Anticipated project costs are approximately $230,000 and to date over $15,000 has already been spent on engineering and design.
- Updating the Condominium’s Exercise Room will add value to the Property, which translates to more profit for you when you decide to sell your unit.
- Having a gym available to you promotes a healthy lifestyle.
- Updating the fitness facility will be more consistent with the many new buildings in the area and provide a competitive edge when combined with the significant unit size value our building already offers.
- Three bids were received on the original project. The Board elected to work with the contractor of the lowest pricing when slight modifications were made to the design.
- The project design specifications used by contractors to bid on the project is also available for review with the design board at the front desk.
As Agents for and on behalf of
Peel condominium Corporation No. 420
Vanessa Van Dette
Larlyn Property Management Ltd.