I believe a special levy would have to be agreed upon at an AGM or EGM with the agreement of owners. I don’t think the EC can just impose a special levy.
You are very lucky to only have an amount of $70 asked of yourself and other owners. I am concerned when you say that this amount could force you out. We have had a apecial levy of $500 in the past. And acquaintances of mine have been hit with $10,000 special levies for essential repairs and miantainence. You should keep in mind that there may well come a time where you will have to pay a much larger special levy than $70.
You do not state how many units are in your complex. I personally would wonder as to how much money is in the bank. For a small complex this would not be a lot of money. A large complex of 100 would mean $7000. A lot to spend on decorations. Though not alot with a healthy bank balance in a large complex. Does your complex have enough more to cover repairs/maintenance that come up so that owners are not hit with special levies left right and centre?
A well decorated foyer I believe would add to the value of units in a complex. It is the apartment block equivalent of “street appeal”. Don’t know that a flagpole is really necessary. And would think that this would account for the majority of the costs in this circumstance.