Dear Owners and Residents,

I am pleased to submit this report to the owners of M.T.C.C. No. 805 for your perusal and consideration. As you may know, I was elected to the board at the 2020 Annual General Meeting, for a two-year term, and this was my last year representing our community. As the President, I became immersed in the numerous responsibilities of the position. I trust my report will reflect and describe the unique nature of our building, ongoing major projects, challenges we have faced, and anticipated projects over the coming years.

I found it prudent to discuss some aspects of our community and building as we have many new owners. Our building is now approx. 32 years old and is unique in many ways. We are one of the very few condominium residences in Toronto that can boast of a private and beautiful outdoor pool, spacious green areas that can be enjoyed by residents, along with many other amenities.

In 2021, we took on some outstanding issues head on! The parking garage condition, especially on P1 level has been deteriorating and previous fixes were not comprehensive and/or in depth enough. After many months of negotiations and planning, the hotly anticipated interior refurbishment project was approved in late 2021. As your Board, we collectively continued to follow the plans set out by the Reserve Fund study and gave priority to the mechanical infrastructure of the building. Given the age of our building, there is a continuous need to undertake both capital and maintenance work to protect our investments and enhance the value of the building. It should be noted that close to 42% of common element fees collected are allocated to the Reserve Fund every month. 

In 2021, we experienced a significant and impactful change to our organization. With the departure of our previous management company on October 1, we found ourselves without access to our own bank accounts, timely financial reporting, and even the ability to collect common element fees or pay our bills. With fiscal year-end around the corner, everyone on the board and building staff pulled our resources together and ensured that as a corporation we met our deadlines and commitments. During the month of October and after careful and extensive collaboration, the Board decided that the interest of the community is better served by being directly engaged in managing the affairs of the corporation. In that light, after many interviews with individuals and other property management companies, we decided to present an employment offer to Kaveh (Kevin) Oskoui. I believe based on the feedback we have received; he has greatly contributed to the success of our community. 

One of our biggest achievements in 2021 was to implement strategic changes, allowing better oversight and control over the corporation’s affairs. These changes involved transitioning to a more effective leading governance, under direction of the Board and our own dedicated property manager. Transparency was the cornerstone of our decision. Having controlled access to our bank accounts, and records; exploring and conducting assessment of the physical needs of the building, and most importantly fostering open communication and developing a sense of community that helped overcome the challenges posed by the pandemic. 

As we continued to enhance the governance, roles and responsibility of Directors, and staff brought in-line with the objectives of the corporation. Building staff are now more closely managed, and new accountability and metrics are being developed every day. Gaps in service delivery are identified, presented to the Board, and addressed with prudent planning. 

In 2021, we made a concentrated effort to utilise existing technology to better communicate, be more transparent, and above all do so in a timely fashion. We have received positive feedback from email notifications, and for the launch of the new Turnberry Court Website. We will continue to build on this success with upcoming modules like “Visitor Parking Registration”, Dedicated information pages, including Rules and Regulations, and a Real Estate and Marketing page to showcase the recent refurbishments, the beautiful grounds, and to provide future owners a glimpse of what Turnberry Court can offer. 

Despite many challenges presented to us, many large and small projects were completed or started in 2021. In addition to customer-facing enhancements like the website, the corporation invested over $300,000 in upgrades to boilers, the makeup air unit, repairs to electrical and mechanical components of the building, and ongoing roof repairs. In addition, we undertook refurbishment of common elements, most likely one of the largest undertakings in the history of our community. Rest assured, we did not leave any stones unturned. A careful review of the contract resulted in close to $170,000.00 reduction in fees, achieved with some simple modifications. In the past few months, we continued to review the Reserve Fund Study for upcoming projects. As a result, the contract to refurbish the party-room was awarded, which resulted in approx. $10,000 in additional savings for 2022. Given the fact that prices in the Reserve Fund Study were calculated well below the unprecedented inflation we face today at close to 6%, we have managed to be good stewards of our funds. 

As we move on in 2022 and into 2023, there are many projects entering the planning and quoting phase. These include the highly anticipated update to the entry system, upgrade to existing cameras, the review of ground surfaces and water leaks into the underground garage, and a slew of initiatives to enhance the security of our community. Another improved practice worth mentioning is the all-new mandatory Request for Proposals (RFP) process implemented to enhance transparent biddings and vendor selection. 

We will continue to follow the Reserve Fund study in planning our future projects, develop reasonable and realistic budgets that reflect the real cost of operating our community, maintain our building in a good state of repair, share information, and improve the value of our collective investment. 

As a final closing remark and on a personal note, I’d like to share that after nearly 4 years, I've decided that 2022 will be my last year at Turnberry Court. It is truly overwhelming to write those words. But I have the comfort of knowing I leave executive, financial and operational leadership in better hands than my own. 

I’ll be moving out of the building on July 13 but before I do so, I would like to take a moment to thank the Board and Kaveh for their commitment and support. Javier Solis and Fernando Gomez are some of the most capable and caring leaders I've ever met, which I say with no exaggeration, they were by my side when we initiated this transformation, and have always viewed their role as enablers of our team’s success. I’ve had the privilege to work alongside them and have relied on their strategic thinking, wisdom, experience, and sharp focus on what our building needs. Kaveh has worked tirelessly to support us and everything that makes Turnberry Court special. But even more important, they are all true believers in what we've built and how much we can still do.

There are no words that can express how sincerely grateful I am for the privilege of working for you. TC has been my family and home, and the fact that I have gotten an opportunity to be a member of this community is a blessing. 

I beg you to understand that my decision comes after months of consideration on my family's future, and at no cost to my hopefulness of what's ahead for Turnberry Court. The building is at a crossroads of which this team can play a fundamental role in shaping, and I am so excited to see where you go!

Thank you for allowing me this honour,

Yours very truly,

Diego Garcia

diego.garcia@turnberrycourt.org

President - Turnberry Court (MTCC805)