|COLCO: COALITION OF LEAKY CONDO OWNERS – www.myleakycondo.com
COLCO - http://www.myleakycondo.com
Dr. James Balderson
Dear Dr. Balderson:
Thank you for your facsimile of September 15, 2000, regarding alternatives to compensation for owners of leaky condos and other dwellings. I apologize for the delay in replying, but understand that Kaye Melliship, Assistant Deputy Minister of the Housing Development Division, met with you in mid-October to discuss your proposal.
I appreciate the time you and COLCO have taken to ensure that your views
are considered as we work towards developing solutions. While a general
compensation package is not being considered at this time, ministry staff
The Minister has urged the federal government to come forward in a meaningful way to assist owners of leaky condos. They have recently agreed to contribute up to $27.7 million in non-repayable funding toward the Homeowner's Reconstruction Loan Program. The province determined that this cash contribution would better serve owners of leaky condos than the $75 million loan initially proposed by the federal government. The funding will be used to enhance our existing Program by offering recipients of Reconstruction Loans a payment-free period of up to three years, based on financial need.
I appreciate your taking the time to write and I assure you that careful consideration will be given to your views, as we consider more options to deal with this devastating problem.
pc: Honourable Ujjal Dosanjh
Honourable Mike Farnworth
bpc: Correspondence Unit