Condo Smarts: Borrowing for needed repairs not without risks

Dear Tony: Our strata corporation is trying to attempt a major project that includes our roofing and/or balcony deck renewals. We have had the project detailed and prepared by an engineering company and the estimate of costs will be around $2.7 million. We have $1 million saved so the owners will have to pay a special levy of $1.7 million or an average of $24,000 per unit.
We have tried twice in the last six months to get the owners to approve the special levy, but have been unsuccessful. E