Achieving long term objectives

Based on the fact that our long term program was to eliminate all debt, to create a reserve fund, to fund capital projects when required (without undo delay) and to maintain or improve the quality of the building, and thus the quality of life for residents; we find it prudent to “campaign” for the individuals we recruit for the board.

Yes we recruit individuals who will assist us in meeting our long term objectives.

However, as we have has only a limited turnover of board members, this has not been a yearly effort. Yes, we stand for election every year based on the original by-laws which have not been amended.

On the other hand there have been from time to time on an irregular basis one or several shareholders who have stood for election. In these times, we may heighten our campaign. Even so, it is very low key. Essentially, we enlist “friends of the board” to solicit proxies for incumbents and any new board members that we have recruited.