Condo Industry Responds to Marchese Bill

TORONTO, May 9, 2012 /CNW/ - Tomorrow, the second reading of Private Members Bill 72, Property Owners' Protection Act, 2012 will be introduced by Rosario Marchese, MPP for Trinity Spadina. If passed, Bill 72 would amend the Condominium Act, 1998, the Ontario New Home Warranties Plan Act, 1990 and the Building Code Act, 1992.

While the Association of Condominium Managers of Ontario (ACMO) and Canadian Condominium Institute - Toronto Area Chapter (CCI-T) are supportive of those who recognize the need to open the Condominium Act, our associations believe it is time for a broad based revision of the existing legislation.

ACMO and CCI-T have spent years and thousands of volunteer expert hours to develop a joint Legislative Brief. The position achieved in this Brief comes from consulting owners and professionals working within the industry such as lawyers, accountants, engineers, property managers and developers.

The Ministry has made public its commitment to open the Condo Act and consult with stakeholders. ACMO and CCI-T are pleased with the government's desire to work with all industry representatives and believes working in cooperation and collaboration with the government will achieve the best result for all parties concerned.

On April 3, 2012, ACMO and CCI-T had their first Advocacy Day at Queen's Park. In total, the two organizations had 5 introductions in the Legislature, 24 meetings throughout the day with MPPs and policy advisors, and 104 people attend the evening reception.

QUOTES

"Given the huge growth in the condominium market since the Condominium Act was proclaimed in 2001, we believe that amending existing legislation is crucial at this time to better serve the industry and to protect condominium owners. We are pleased that the Premier has publically committed to the re-opening of the Act and are encouraged by the Minister's recognition of and interest in our extensive and broad-based efforts to produce a joint Legislative Brief with the Association of Condominium Managers of Ontario", said Bill Thompson, President, Canadian Condominium Institute - Toronto & Area Chapter

"Mr. Marchese's bill has focused on some of the issues that our industry has discussed for several years. We note, however, that the current government has already made a commitment to ACMO and CCI-T to look at all areas of condos and develop proactive solutions that will keep Ontario at the forefront of this growing market. ACMO and CCI-T believe in Ontario being the leading market in North America in the condominium industry. We believe that a broad based approach that includes all stakeholders is the best way to review this legislation, says Dean McCabe, President, Association of Condominium Managers of Ontario

QUICK FACTS

• Over 1.3 million Ontarians live in condominiums

• More than 6,700 residential condo corporations and over 500,000 condo units in Ontario (MPAC, May 2010)

• Over the last 25 years, condos have grown from virtual nonexistence to 62% of all new home sales in the GTA

• Condo growth has also exploded across Ontario from Windsor to Ottawa to Mississauga to Sudbury

• 104 of the 107 Ontario Ridings have residential condominiums

• A Joint Legislative Brief on Recommendations for Changes to the Condominium Act, 1998 was submitted to the government in May of 2011

• During the 2011 Ontario provincial election, ACMO and CCI-T launched the first comprehensive survey of condo issues in Ontario with the 2011 Condo Survey of Provincial Candidates

For further information:

CONTACTS

Dean McCabe, RCM, ACCI, President,
Association of Condominium Managers of Ontario
Phone: [phone]

Bill Thompson, President, BA, RCM, ACCI, FCCI
Canadian Condominium Institute - Toronto & Area Chapter
Phone: [phone]