You are effectively taking a loan from the contractor. Nice if you can get it. Check how much extra you’ll be paying and compare that with the cost of borrowing from the bank. It seems like an effective way of handling owners who are unable to come up with a special levy, but who are able to pay quarterly levies. You might look at putting those owners on a payment plan for those outstanding special levies. It’s not fair that everyone else is covering their share. Don’t let it go on too long as they are (or should be) accruing interest. Also consider raising levies so that your OC builds up a bit of a buffer against urgent capital works. And make sure that “urgent” work is actually capital in nature and not maintenance that should be covered by the admin fund.