The sister buildings at Islington 2000/2010 were built a few years apart and have differences in some noticable as well as some less obvious ways. Here’s one: quorum at MTCC 570 is 25% of owners; at YCC 351 quorum is set at 33%.
The Condominium Authority of Ontario explains it this way:
Quorum is the minimum number of owners that must be present, either in person or by proxy for business of the corporation, such as a vote, to be conducted. The standard quorum for an AGM is when owners who own at least 25% of the condo units are present. The quorum requirement is reduced to 15% on the third and any subsequent attempts to hold the meeting if quorum is not reached on the first two attempts to hold the AGM.
In recent years attendance at AGMs has led YCC 351 to consider amending its quorum requirement to align with the Condominium Act of Ontario’s 25% requirement. The challenge for YCC 351 is that it needs a majority of owners to vote for this change. While recent AGMs have met the threshold to conduct business, there have not been enough owners or their proxies there to achieve the required majority.
So, the goal to reduce quorum from 33% to 25% has led the Board of YCC 351 to become a little more proactive. Owners at 2010 Islington – if you did not attend the last AGM or vote through proxy, expect to be personally invited to vote in 2023. More about this soon.