Granbury Community
45 Vimy Avenue B3M 4C5 Halifax, NS, Canada

Today, the 2020 Budget was distributed to owners. Overall, the budget saw an increase of 1.5%. Comparatively, the Consumer Price Index (CPI) rose by 1.9%. This 1.5% budget increase was due mainly to the Reserve Fund Study Funding table increase (for things like the upcoming Elevator Refurb in a couple of years) and to a lesser extent the increase in some regular maintenance contracts such as landscaping and snow removal. The Board was able to secure a two year contract whic...h helps provide funding stability. In 2019, the Board was able to maintain condo fees at the same level as 2018. The intent was to demonstrate that the fees would not be forced to increase as a result of windows. To date, the window project is within the funding envelope and there have been no increases which have affected our operating or reserve budgets. The costs for the loan are already factored into the budget and there was no requirement to increase fees as a result of this. Because it is a construction loan, it has actually allowed the Contingency Fund to increase to over 100k. This is a first for Granbury Place. Principal payments will commence at the completion of the project anticipated in May. This represents about a year to complete this major project. With a healthy operating budget, secure Reserve Fund and a strengthening Contingency Fund, Granbury continues to be financially healthy and have the required funds to keep the building in good repair and to secure our unit values. This Budget will commence on January 1, 2020. If you have any questions, please contact Novacorp.

Does anyone in the building have purple cow for internet? Any issues? Thanks!