FAQ.   


Q.    What do our condo fees pay for?

A.     
Northlands is a privately owned corporation.  It has expenses.  Unlike most other land-based condo corporation we own our infrastructure(water sewer) and roadways.  There are operation and maintenance costs associated.  These include but not limited to: over 2 Km Road, water and sewer (15 years past the 25 year life expectancy), accounting, park manager, administration, legal, collections, water wastage, 

Q.    Why do the condo fees keep going up?

A.
Northlands is a condo Corporation.  It requires funds to operate and maintain the   park. Due to the degrading infrastructure we have had to make expensive repairs to ensure that all residents have running water and sewer.  We also need to maintain a reserve that will be used to replace the infrastructure.  The cost of this replacement is approximately $18,000,000.  

Q.    What is happening about our infrastructure?

A.
Northlands Condo Board is presently seeking funds at the Territorial and Federal Level.  We are also putting together a proposal to have the City of Yellowknife take out an $18,000,000 (minus any Fed/Terr. funding) loan that the Members will pay back over the next 30 years in a property improvement tax of approximately $200. Once the infrastructure is replaced the City of Yellowknife will assume ownership of infrastructure and Property improvement tax will take the place of Condo fees.

Q.    Why did CMHC decide not to insure mortgages in Northlands?

A.
In the best interest of those looking to buy homes in Northlands, CMHC has deemed the area a potential risk due to the degrading infrastructure.  CMHC has agreed that once there is a remedial plan or the infrastructure has been replaced that  they will insure mortgages in Northlands.