Regulation - Other
Residential Condominium Conversion Projects (RCCP)
Regulation Number(s):
N/A
Instrument Type:
Regulation - Other
Bill or Act:
Ontario New Home Warranties Plan Act
Summary of Proposal:
This bulletin sets out the reporting requirements related to a proposed RCCP including the following:
• Describes the approval process that Tarion will use to determine if an RCCP is eligible for enrollment and the vendor and builder are eligible for registration.
• Defines the scope of work for the Property Assessment Report, Capital Replacement Plan and Pre-existing Elements Fund Study which must all be submitted to Tarion for approval of the RCCP.
• Describes the use of the Pre-existing Elements Fund and how it relates to warranty coverage.
• Outlines updating processes in the event of changes to the Pre-existing Elements or the anticipated registration date (of the condominium corporation) during the development process.
• Describes the approval process that Tarion will use to determine if an RCCP is eligible for enrollment and the vendor and builder are eligible for registration.
• Defines the scope of work for the Property Assessment Report, Capital Replacement Plan and Pre-existing Elements Fund Study which must all be submitted to Tarion for approval of the RCCP.
• Describes the use of the Pre-existing Elements Fund and how it relates to warranty coverage.
• Outlines updating processes in the event of changes to the Pre-existing Elements or the anticipated registration date (of the condominium corporation) during the development process.
Further Information:
Regulatory Impact Assessment
Builder Bulletin 51
Ontario Regulation - RESIDENTIAL CONDOMINIUM CONVERSION PROJECTS
Proposal Number:
17-MGCS014
Posting Date:
July 27, 2017
Comments Due Date:
September 25, 2017
Contact Address:
56 Wellesley St W, Toronto, ON