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Capital improvements

June 20, 2016 by CPLEAadmin

Usually changes, enhancements, alterations or additions to the condo corporation’s property not listed in the reserve fund study report. 

For a reserve fund and special levy, capital improvements do not include:

  • replacement of the condominium corporation’s existing real/personal property, common property or managed property (with the contemporary equivalent of an obsolete property or lower cost equivalent of the existing property)
  • any other replacement under the Condominium Property Regulation.
Indicates an impending legislative change or special attention required
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