The firm that conducted the siding replacement study for Callingwood Court recommended Hardie siding because it was their expert opinion that this siding provides the best value in the long term. Quite a few owners have challenged this opinion and have suggested that vinyl siding be considered as a better option. An assessment of vinyl siding by RKA Architects is attached. This assessment concludes that the cost advantage of vinyl siding over Hardie siding is overestimated and that several disadvantages of vinyl siding outweigh the cost advantage.
The primary purpose of conducting the siding replacement study was to comply with the requirement in our bylaws that a long-term funding plan be provided to the owners. That plan is to allocate roughly half of your monthly condo fee to the capital reserve fund until the siding replacement project can be fully paid for out of the reserve fund with no special assessment.
When we are much closer to actually starting the siding replacement project then 75% of the owners will have to approve a siding material, be it Hardie siding, vinyl siding, or some other siding. That decision won't be made for at least five years. Note that the funding plan doesn't depend on the choice of siding material. The choice of siding material only determines the time needed to build up the reserve fund to fully fund the siding replacement project.
The agenda for the AGM includes "Capital Replacement Exterior Upgrade Report". The funding plan for the siding replacement project will be open for discussion under this agenda item. A discussion of the choice of siding material is premature because it doesn't influence the funding plan. When we are close to starting the siding replacement project we can make an informed decision on siding material based on detailed proposals from contractors. A premature discussion of siding material at the AGM is not likely to be productive.
An assessment of vinyl siding by RKA Architects
Paul W. Oxby, President
Board of Directors