Will all strata leasehold owners, whether or not members of SLS, receive an offer if approval of 75% of Society members voting is obtained?

2022-09-01T17:12:00+00:00August 31st, 2022|Categories: |

Yes, that is correct. The offer will be extended to all strata leaseholders regardless of their membership in the Society. If more than 25% vote not to accept the option, then the MOU will lapse and no owners will have the option to accept the offer.

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To clarify, if I vote ‘yes’ to the proposal, am I obligated to pay now or can it be deferred to the end of my current lease?

2022-09-01T17:12:13+00:00August 31st, 2022|Categories: |

No, you are not obligated to do anything if you vote ‘yes’. A ‘yes’ vote is simply agreeing that each owner will be given the option to modify their lease as per the terms of the MOU. Ultimately, if the vote passes each individual strata owner will then receive a lease modification offer […]

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What happens to leases if the MOU is not approved by Society members?

2022-09-01T17:12:13+00:00August 31st, 2022|Categories: |

Then owners will not be given a choice to accept the City’s offer as it will lapse. All the existing leases will remain as written if the MOU is not accepted in the Extraordinary General Meeting. If the MOU is approved by Society members, then each residential strata leaseholder will have the individual […]

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What happens if we don’t get 75% agreement at the EGM?

2022-09-01T17:12:13+00:00August 31st, 2022|Categories: |

The Memorandum of Understanding (MOU) with the City will lapse. Said differently, the proposal would no longer be valid. This means individual owners will not be given the right to choose for themselves whether they want to accept the terms of this offer.

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What will Society members be voting on at the EGM on September 21, 2022?

2022-09-01T17:12:13+00:00August 31st, 2022|Categories: |

The Society members will vote on a resolution to approve the MOU such that lease modifications would be offered as an option to all members for individual consideration. If 75% or more of Society members who attend the meeting and vote or vote by proxy vote for the motion the proposal […]

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Welcome to False Creek South

Welcome to the Homepage of the False Creek South Neighbourhood Association. We look forward to your feedback! Please feel free to leave us a comment or send us an email at any point in time with regards to content, layout, design or any glitches in the interface. We also welcome your contributions of stories from the neighbourhood if you would like to contribute to this website. The FCSNA Web Team

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False Creek South Neighbourhood Association, c/o False Creek Community Centre, 1318 Cartwright St, Vancouver, British Columbia, V6H 3R8

Web: www.falsecreeksouth.org

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