Petition to Halt the Unjust $2.5 Million Special Assessment at 77 Edmonton St, The Colonnade

We, the undersigned residents and owners of The Colonnade at 77 Edmonton St, Winnipeg, urgently call for immediate action to halt the $2.5 million special assessment imposed upon us. This significant financial burden has resulted in monthly special assessment fees skyrocketing from $357.22 to an astronomical $2,470.00 per unit. In our opinion, the decision-making and management leading to this assessment have been fraught with lack of transparency, and disregard for equitable financial solutions.

Key Concerns:
1. Failure to Secure Reasonable Financing Options
Despite the immense financial impact on residents, there has been a glaring lack of effort to secure a loan or financing plan to alleviate the immediate burden. This omission forces owners to shoulder exorbitant costs in an unreasonably short timeframe, disregarding the financial well-being of the community.

2. Lack of Transparency in Project Work 
The details of the repair project and the allocation of funds have been shrouded in opacity. Residents have not been provided with adequate documentation, timelines, or explanations regarding:

The scope of the repairs.
The selection process for contractors and project oversight.
A detailed breakdown of the $8.5 million repair costs.
This lack of accountability undermines trust and raises serious questions about whether funds are being used judiciously.

4. Unfair Burden on Residents
The exorbitant special assessment disproportionately impacts residents who rely on fixed incomes or modest earnings. Many homeowners face the prospect of financial ruin or forced sale of their units, disrupting lives and threatening the stability of our community.

Our Demands:
Immediate Suspension of the Special Assessment: Pause the enforcement of the current special assessment to prevent further financial harm to residents.

Independent Audit: Conduct an independent audit of the condo board’s financial and maintenance practices over the past decade to identify mismanagement and ensure accountability.

Exploration of Loan Options: Actively pursue loan or financing options to distribute costs over a manageable period, easing the burden on residents.

Full Transparency: Provide residents with complete access to project plans, cost breakdowns, contractor information, and progress reports.

Together, we can protect our community, our homes, and our financial well-being.