Dear Owners & Residents,
Below is some important information about driveway maintenance and levies. If you missed any of the prior newsletters they can be found on the TankTower.com.au News page.
WARNING - Driveway repairs - NO ACCESS to Carpark during works
The next stage of repair work is confirmed for 2 days, starting Thursday 17th of September and Friday 18th of September.
Driveway pipe repairs will restrict all access to the driveway during hours of 6:30am to 5pm while works are done.
If you will require access to your vehicle then you must have it removed from the carpark before 6:30am on the day and will not be able to return it to the carpark until the work is completed.
A metal plate will be installed over the work area at the end of each day to allow garage access until work resumes the following morning.
Budget and Levies
As a subscriber to TankTower.com.au newsletters you are aware that we have had multiple years of significant projects, and associated levies, so as we approach the later stages of 2020 the committee has focused on the approach to next years budget.
We have now "done the hard yards" and addressed the known significant repairs while also undertaking several capital improvements to the building.
In light of current global COVID-19 events and the associated financial impacts, expected to further deteriorate over the coming months, the committee agrees it is appropriate for us to focus our efforts to minimise levies for the next budget year.
Each year, around this time, I conduct a thorough review of all reported issues, prepare a scope document, review proposed repair and improvement items with the committee, leading to the engagement of consultants who then prepare a tender so we can obtain the best pricing, and then the committee reviews and agrees on items that are used to establish the budget.
I have recently reviewed all known issues, as I do each year, and this year there are currently no urgent, preventative or significant improvement items that require a major project to be scoped, costed or planned for next year.
Without the need for a major project in 2021, but with a desire to continue to undertake some minor works and improve the sinking fund, the committee believes that it will be possible to reduce sinking fund contributions by approximately 50%, and with the admin and insurance levies expected to remain stable, we currently anticipate a total levy reduction of around 25% for each lot.
