Residential Section LMS 1866 AGM Minutes MINUTES OF THE ANNUAL GENERAL MEETING OF THE RESIDENTIAL SECTION OF STRATA PLAN LMS 1866, HELD ON MONDAY, APRIL 16, 2012 AT 6:30 P.M., AT THE ELECTRA SOCIAL CLUB 989 NELSON STREET VANCOUVER, BC PRESENT:
53 Strata Lots present in person 16 Strata Lots represented by proxy Total 69 Strata Lots represented in person and by proxy
MANAGING AGENTS:
Kenneth Bro - ColyVan Pacific Real Estate Management Services Ltd.
CERTIFICATION OF PROXIES, ISSUANCE OF VOTING CARDS Prior to the commencement of the meeting, all owners attending were registered, proxies certified and voting cards issued. The Property Manager confirmed there were 53 owners present in person and 19 represented by proxy for a total of 69 voting members. As LMS 1866 Residential Section did not reach quorum at 6:30 p.m., the meeting was adjourned for 30 minutes until 7 p.m. (in accordance to the bylaws of LMS 1866) at which time the owners present were deemed a quorum. In the meantime the owners held a townhall meeting to go over non-voting aspects of the agenda. At 7:05 p.m. in accordance with the registered bylaws of LMS 1866 the meeting was called to order and the owners present, in person or represented by proxy, were deemed to be a quorum and the meeting was declared competent to proceed. PROOF OF NOTICE OF MEETING It was MOVED/SECONDED that the Notice of the Meeting was posted, in accordance with the provisions of the Strata Property Act, on March 26, 2012. CARRIED SELECTION OF THE CHAIRPERSON FOR THE MEETING It was MOVED/SECONDED to appoint Tanya Paz as the chair for the meeting. 67 For 2 Against 0 Abstentions APPROVAL OF AGENDA It was MOVED/SECONDED to approve the agenda as distributed.
CARRIED
APPROVAL OF PREVIOUS AGM MINUTES OF APRIL 16, 2011 It was MOVED/SECONDED to approve the minutes of the AGM of April 16, 2011 as distributed.
CARRIED
REPORT ON INSURANCE COVERAGE It was MOVED/SECONDED that the insurance coverage had been received.
CARRIED
The Agent advised the owners that they should take a copy of the insurance report along with a copy of the Bylaws of the Strata Corporation to their insurance agent.
202-5704 Balsam Street Vancouver BC V6M 4B9 Telephone: (604) 683-8399 Fax: (604) 683-7399
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Owners should advise their agent that there are provisions in the Bylaws whereby the Strata Corporation has the ability to charge back to an owner costs related to actions of the owner or anyone the owner occasions on site. In addition there are also limitations in the Strata’s insurance that the owner may wish to be insured for separately. The exclusions in the Strata’s insurance include but are not limited to: betterments and improvements, replacements, living away expenses and losses of personal goods. An insurance professional is the best person to outline the full details of any and all limitations, upon reviewing both the Strata’s policy and the owner’s policy. It is recommended that owners submit a letter to their agent, with the previously noted information, and in the letter request that the agent contact the Strata’s insurer to ensure that the owner has seamless coverage from the Strata’s policy through to their own policy. The level of coverage by each owner is that owner’s individual choice; each owner will choose the perils that they wish to be covered for and the deductible they are willing to accept. The owner’s letter to their agent should also request that their agent provide a letter back to them, as owners, confirming that they have provided the coverage for the owner as requested and have ensured that the policies for both the Strata and the owner have been reviewed on behalf of the owner and the requested coverage is in place. This due diligence process by the owners with their insurance professionals should reduce or eliminate the possibility of having an uninsured liability or loss. An outline letter format is included with these Minutes for the owners to use as a guide. It is also suggested that the owner provide their insurance professional with a copy of these Minutes. EXECUTIVE COUNCIL REPORTS Highlights of the Residential Executive Council, Governance Committee, Building Committee, Operations Committee and Finance Committee Reports were presented. The appropriate members of the 2011/12 Residential Executive Council addressed questions from owners. The full reports were included in the AGM Notice of Meeting sent to all owners. FINANCIAL REPORTS 1) Financial Statements To March 31, 2012 It was MOVED/SECONDED to accept the March 31, 2012 Operating Statement as included in the Notice of the Annual General Meeting, after a brief discussion the question was called and the statements were, CARRIED 2) Approval of 2012/13 LMS 1866 Residential Operating Budget It was MOVED/SECONDED to approve the 2012/13 LMS 1866 Residential Section operating budget effective April 1, 2011 as presented after a brief discussion the question was called and the budget was, CARRIED
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¾ VOTE RESOLUTIONS ¾ VOTE RESOLUTION #1 3/4 VOTE RESOLUTION OF
SECTION 1 OF THE OWNERS, STRATA PLAN LMS 1866 (RESIDENTIAL SECTION) - APPROVAL OF THE INSTALLATION OF THE BC HYDRO ANTENNA WHEREAS BC Hydro currently has a microwave dish on the roof of the Electra building together with ancillary equipment, antennas and cabling pursuant to Statutory Right of Way BB1763014 (the “SRW”) which SRW is attached hereto as Schedule A. AND WHEREAS BC Hydro is desirous of adding two further antennas to the roof, together with ancillary equipment and cabling (the “additional Equipment”) running to the mechanical room on the 22nd floor in the location as shown on Schedule B attached hereto. AND WHEREAS BC Hydro proposes to modify the SRW to include the Additional Equipment for an additional monthly fee to the Strata Corporation of $800 plus applicable taxes. BE IT RESOLVE BY A ¾ VOTE of the Owners and pursuant to section 80 of the Strata Property Act, that the SRW, as modified, is approved and council is authorized to execute such documentation as is necessary to affect modification of the SRW or enter a new Statutory Right of Way as the case may be. END OF RESOLUTION It was MOVED/SECONDED to approve the ¾ Resolution #1 as presented after a brief discussion the question was called and the resolution was, 67 For 2 Against 0 Abstentions ¾ VOTE RESOLUTION #2 3/4 VOTE RESOLUTION OF
SECTION 1 OF THE OWNERS, STRATA PLAN LMS 1866 (RESIDENTIAL SECTION) - SPECIAL LEVY FOR OPERATING FUND DEFICIT ELIMINATION WHEREAS Section 105(2) of the Strata Property Act, S.B.C. 1998, c. 43 (the “Act”) provides that “if operating expenses exceed the total contribution to the operating fund, the deficit must be eliminated during the next fiscal year.” AND WHEREAS pursuant to Sections 108 and 194(2) (b) of Act, Section 1 of The Owners, Strata Plan LMS 1866 (the “Residential Section”) may raise money from the residential strata lot owners by means of a special levy if the levy is approved by a resolution passed by a 3/4 vote at an annual or special general meeting of the Residential Section; BE IT RESOLVED by a 3/4 vote of Section 1 of The Owners, Strata Plan LMS 1866 (the “Residential Section”) that the Residential Section may levy on the strata lots comprising the Residential Section, in proportion to the unit entitlement of each strata lot and in the amounts shown opposite each strata lot in Schedule “A” (attached to and forming part of this resolution), an amount up to $ 35,905.30 (the “Deficit Special Levy”) to eliminate the deficit in the Residential Section’s operating fund for the fiscal year ending March 31, 2012. Each strata lot’s share of the Deficit Special Levy, as shown in Schedule “A”, is due and payable immediately on the date of passage of this resolution. Pursuant to s. 109 of the Act, in the event of a sale of a strata lot, the Deficit
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Special Levy must be paid in full by the seller. For convenience only, an owner may submit one post-dated cheque dated on or before May 1, 2012 for their strata lot’s share of the Deficit Special Levy in the amount shown opposite their strata lot number on the attached Schedule “A”. END OF RESOLUTION It was MOVED/SECONDED to approve the ¾ Resolution #2 as presented after a brief discussion the question was called and the resolution was, 67 For 2 Against 0 Abstentions ¾ VOTE RESOLUTION #3 3/4 Vote Resolution of Section 1 of The Owners, Strata Plan LMS 1866 (Residential Section) - Special Levy for Thermostat Replacement WHEREAS the heat pumps in the residential strata lots are maintained by the Section 1 of The Owners, Strata Plan LMS 1866 (the “Residential Section”) in accordance with its bylaws; AND WHEREAS the said heat pumps are considered to be a risk for increased wear and tear and are recommended to be replaced with a new model of digital thermostats; AND WHEREAS pursuant to Sections 108 and 194(2) (b) of the Strata Property Act, S.B.C. 1998, c. 43 (the “Act”), the Residential Section may raise money from the residential strata lot owners by means of a special levy if the special levy is approved by a resolution passed by a 3/4 vote at an annual or special general meeting of the Residential Section; BE IT RESOLVED by a 3/4 vote of Section 1 of The Owners, Strata Plan LMS 1866 (the “Residential Section”) that the Residential Section may levy on the strata lots comprising the Residential Section, in proportion to the unit entitlement of each strata lot and in the amounts shown opposite each strata lot in Schedule “A” (attached to and forming part of this resolution), an amount up to $41,000.00 (the “Thermostat Special Levy”) to pay the costs required to proceed with a project to replace all thermostats in all strata lots comprising the Residential Section. Each strata lot’s share of the Thermostat Special Levy, as shown in Schedule “A”, is due and payable immediately on the date of passage of this resolution. Pursuant to section 109 of the Act, in the event of a sale of a strata lot, the seller must pay the Thermostat Special Levy in full. For convenience only, an owner may submit one post-dated cheque dated on or before the June 1, 2012 for their strata lot’s share of the Thermostat Special Levy in the amount shown opposite their strata lot number on the attached Schedule “A”. END OF RESOLUTION It was MOVED/SECONDED to approve the ¾ Resolution #3 as presented after a brief discussion the question was called and the resolution was, 67 For 2 Against 0 Abstentions
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¾ VOTE RESOLUTION #4 3/4 VOTE RESOLUTION OF SECTION 1 OF THE OWNERS, STRATA PLAN
LMS 1866 (RESIDENTIAL SECTION) - Special Levy for Upgrades to Elevator MG sets and hoist machines WHEREAS the three elevators that are designated as limited common property for the residential strata lots at the Electra are maintained by the Section 1 of The Owners, Strata Plan LMS 1866 (the “Residential Section”) in accordance with its bylaws are considered to be a risk for increased wear and tear on the MG sets and hoist motors and MG sets and hoist motors are recommended to be refurbished; AND WHEREAS pursuant to Sections 108 and 194(2) (b) of the Strata Property Act, S.B.C. 1998, c. 43 (the “Act”), the Residential Section may raise money from the residential strata lot owners by means of a special levy if the special levy is approved by a resolution passed by a 3/4 vote at an annual or special general meeting of the Residential Section; BE IT RESOLVED by a 3/4 vote of Section 1 of The Owners, Strata Plan LMS 1866 (the “Residential Section”) that the residential Section may levy on the strata lots comprising the Residential Section, in proportion to the unit entitlement of each strata lot and in the amounts shown opposite each strata lot in Schedule “A” (attached to and forming part of this resolution), an amount up to $ 70,000.00 (the “Elevator Upgrade Special Levy”) to pay the costs required to proceed with a project to refurbish the motor-generator (MG Sets) and hoist motors on all three elevators. Each strata lot’s share of the Elevator Upgrade Special Levy, as shown in Schedule “A”, is due and payable immediately on the date of passage of this resolution. Pursuant to s. 109 of the Act, in the event of a sale of a strata lot, the Elevator Upgrade Special Levy must be paid in full by the seller. For convenience only, an owner may submit one post-dated cheque dated on or before July 1, 2012 for their strata lot’s share of the Elevator Upgrade Special Levy in the amount shown opposite their strata lot number on the attached Schedule “A”. END OF RESOLUTION It was MOVED/SECONDED to approve the ¾ Resolution #4 as presented after a brief discussion the question was called and the resolution was, CARRIED UNANIMOUSLY
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ELECTION OF THE EXECUTIVE COUNCIL OF THE OWNERS, STRATA PLAN LMS 1866, RESIDENTIAL SECTION” (“EXECUTIVE COUNCIL”) The following owners submitted their names for the 2012- 2013 Executive Council: Ms. Tanya Paz Mr. Ray Cousineau Mr. Gordie Forrest Mr. Trevor R. Boudreau Ms. Gayle Nesbit Mr. Jason Lehmann Mr. Michael Anstead Mr. Mehdi Tafti Two volunteer scrutineers were selected to count the ballots cast for council. The following owners were elected to serve on the 2012/13 Residential Section Executive Council. Each member received more then 50% of the votes cast: Ms. Tanya Paz Mr. Ray Cousineau Mr. Gordie Forrest Mr. Trevor R. Boudreau Ms. Gayle Nesbit Mr. Jason Lehmann Mr. Michael Anstead
President Vice President Treasurer Secretary At Large At Large At Large
It was MOVED/SECONDED by the owners present to destroy the ballots at the end of the election
CARRIED
ADJOURNMENT The meeting was adjourned at 9:45 pm After the AGM adjournment the new Residential Executive Council held a brief meeting and elected the executive as noted above. CARRIED Kenneth Bro Property Manager, 604-683-8301 Ext. 232 - Email:
[email protected] ATTENTION Please keep these Minutes on file as a permanent legal record of your Strata Corporation’s business. Replacement of either Minutes or Bylaws will be at the owner’s expense and not the Strata Corporation’s COUNCIL MEETING MINUTES Regular council meeting minutes will continue to be no longer printed/mailed to owners. Instead, these are available at www.theelectra.ca, by joining our email contact list, or by visiting the on-site office. Owners will continue to receive printed General Meeting notices and minutes.
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To My Insurance Professional: I am the owner of strata unit ________ in strata plan LMS 1866 Residential. I require a strata owner’s policy to protect my interests and liability with regard to the aforementioned strata lot. I also should advise you that I do/do not rent out my unit. The property manager has advised the owners that they should take a copy of the insurance report along with a copy of the bylaws of the Strata Corporation to their insurance agent. Owners have been advised that there are provisions in the bylaws whereby the Strata Corporation has the ability to charge back to an owner costs related to actions of the owner or any one the owner occasions on site. In addition there are limitations in the strata’s insurance that may be insured for separately. The exclusions in the strata’s insurance include but are not limited to; betterment’s and improvements, replacements, living away expenses and losses of personal goods. The property manager has advised that the full details of the limitations are best outlined by an insurance professional who reviews both the strata’s policy and the owner’s policy. The property manager recommended that owners submit a letter to their agent, with the previously noted information, and in the letter request that the agent contact the strata’s insurer to ensure that the owner has seamless coverage from the strata’s policy through to their own policy. The property manager advised that the level of coverage by each owner is that owner’s individual choice under the guidance of his or her insurance professional [each owner will choose the perils that they wish to be covered for and the deductible they are willing to accept]. The owners were further advised, that in the letter to their agent, they should request that their agent provide a letter back to them, confirming that their insurance professional has provided the coverage the owner has requested and that they have reviewed the policies for both the strata and the owner and the requested coverage is in place. Please review the information I have provided and advise me on the coverage needed to protect my interests and liabilities.