Quote:
Originally Posted by I-Hate-Hulse
How the hell does siding "fail"? You're basically describing an entire exterior envelope repair. That would suggest there is a potential for water penetration and likely mold. Have they found that?
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No idea; nothing has been said that specifically. The word "fail" is an exact quote, though: "The Engineers findings have clearly shown that the siding, windows and doors have failed." I will note though that in the case of the doors, well, you can see daylight between our door frame and the door itself
Re the use of the reserve fund, this is what was said: "Based on the Contractor's quotes received, the total amount of the Envelope Re-Hab and Related Projects is excepted to be $4,182,906 with allowances for the project to be carried out over 4 years... Your Board of Directors has voted in favour of the Reserve Fund contribution for Phase 1 [my note: doing 10 of the units] of this project to be up to $438,055 with a total contribution from the Reserve Fund of $582,906 for the entire project. This amount is as per your last Reserve Fund Study completed by 2010."