Post date: Feb 25, 2015 11:27:36 PM
An interested owner had a couple questions about the reconstruction process. Their questions with responses below.
1) Has a contract been entered into with any contractor[s] for any repairs?
The implementation process for reconstruction looks something like this:
At this point, we’re two steps away from a construction schedule that addresses all repairs. Separately, the Board has signed an agreement for repairs and waterproofing to the north wall; work begins in the next two weeks.
2) Do you anticipate an assessment to make the corrections, and if so, what is the amount you anticipate?
The initial reconstruction plan came in under budget, based on an approach of the least work required to meet all construction defects revealed by the litigation in a responsible way. The Reconstruction Committee is now somewhat-cautiously reviewing items to put back in. The Board has a strong desire to avoid additional assessments and to exit reconstruction with a fully-funded reserve account based on the updated condition of the building.
An initial live review meeting between the architect and Reconstruction Committee is being scheduled now for either a Friday afternoon or weekday evening in the next two weeks.