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At the AGM last year I submitted an agenda item. I questioned our Strata Management on how to pose the item for consideration. This is what they suggested.
Changes to SEPP5
That consideration be given to look into costs & processes required to change our strata council approved DA from SEPP5 to normal Strata and report back to a Special Owners Corporation Meeting to review the findings. A group could be formed to investigate the costs & process. (Submitted by ….)
Explanatory for Motion 27
With the prospect of having to move to a more dedicated care facility, considering the average age of owners in the complex, an increase in the value of your unit could provide more flexibility in selecting a facility more suited to individual needs. Recently, comparable apartments in the area, without the restrictions of SEPP5, have been selling for over a million dollars.
Although the complex was originally planned as a SEPP5, complete with dedicated bus service, visiting nurse & doctor provisions, hair salon etc, the builder went into liquidation before these could be finalised. By reverting to normal strata, the owners would not be giving up any specific facilities of SEPP5, as SP81094 was not completed by the builder to these standards.
This change in Strata could mean an increase of some $300k per unit. The consideration would be that younger couples could purchase and may have children. The by-laws would not change regarding children & common property, however. Younger buyers would also assist with ongoing maintenance & costs of the complex as it continues to age.
At the AGM, the person from the Strata Management Company ruled the item ‘OUT OF ORDER’I would like to resubmit the item.
Can someone knowledgeable on the forum assist me in wording this item so it won’t be set aside.
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