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Risks and Controversies in Project Funding

Risks and Controversies in Project Funding
Risks and Controversies in Project Funding, Budgets, Levies, Borrowing and Division of Expenses

Co-presented by Matt Fischer and Maris Holmes.

This session will take the form of a mock special general meeting with attendee participation. Various sides of controversial issues will be discussed with practical, legal and procedural perspectives, and common owner concerns will be addressed. Specific issues addressed will include:

  1. Division of Expenses – User Fees and the recent amendments to Regulation 6.9
    1. The benefit of increased flexibility for utility expenses and other use-based common expenses
    2. The potential for abuse
  2. The Controversy of mid-year budget amendment
  3. The Controversy of Contributions to the CRF outside of the AGM  
  4. Controversy over project scope and funding
    1. Owner Reluctance to approve major project funding which is required to fulfil repair and maintenance obligations.
    2. Disagreement over project scope
    3. Project funding
      1. Factional opposition to borrowing due to borrowing costs
      2. Factional opposition to levying because of inability to pay
      3. Factional opposition to proper CRF contributions, funding or expenditure
  5. Amending project approval and funding Resolutions at the Special General Meeting
  6. Presenting alternative resolutions
  7. Special Levy issues and risks
  8. Borrowing Issues and Risks
    1. Problems arising from unreasonable lender requirements and lender-drafted borrowing resolutions
    2. Problems with “optional participation borrowing”
  9. Operating Fund Expenditures approved by ¾ vote
  10. Case law on permitted use of operating funds as opposed to levied funds and use of the Contingency Reserve Fund.
  11. Blended funding models 
  12. Premature contract execution – (section 51)


  13.         
     Matt Fischer has appeared in all levels of Court in British Columbia, and has conducted a variety of Court proceedings on behalf of his clients, including complex multi-party strata litigation and litigation dealing with property use, repairs, bylaw enforcement, collections, governance, and actions for damages.
           Maris spent her early years in Vancouver but recently
    moved to Kelowna to develop her litigation practice.
    Maris completed her articles and commenced practice with a well-regarded litigation firm in Vancouver prior to joining Doak Shirreff. Maris was called to the bar in 2016. 
Fax/Email Registration form
When
2018-06-13 8:00 AM - 12:30 PM
Where
Ramada Kelowna Hotel & Conference Centre 2170 Harvey Avenue Kelowna, BC CANADA
Online registration not available.

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