Elgin — Ch. 16.46 Residential Condominium Conversions § 16.46.020

At least thirty (30) days prior to closing a sales contract on any condominium unit in a condominium project, a developer shall prepare and file with the director a property condition report and shall certify by affidavit that all disclosures are true to the best of the directors knowledge and belief. Said report shall contain at least the following information about the condominium project: A.
A statement indicating the name and address of the developer of the condominium property.
B. A plat of survey showing the size and dimensions of the condominium property.
C. A legal description of the condominium units offered and the proportionate percentage of individual ownership of said units.
D. A description of the common elements and a statement of the percentage ownership of the common elements applicable to the condominium units offered.
E. A description of all existing and proposed facilities not included, or not to be included, as part of the common elements.
F. A statement of the following, in capital letters, when parking facilities are not:
1. Part of the common elements; or
2. Divided as individual parking spaces among and designated as part of the units of a condominium property:
Parking Facilities Are Not Owned by the Unit Owners. It Shall be the Responsibility of Condominium Unit Owners to Obtain Their Parking Facilities.
G. An identification of all drawings, architectural plans and other suitable documents, including as built drawings, setting forth information for the location, maintenance and repair of condominium facilities and equipment. Said identification shall be made to the extent these documents exist and are available to the condominium board of managers.
H. Projected initiation and completion dates for any proposed construction, renovation or conversion.
I. Copies of the following legal documents that are binding or are to be binding upon the condominium:
1. The declaration and plat of survey. Prior to the recordation of the declaration, however, a preliminary declaration and plat may be supplied, provided they are accompanied by a written statement that the description of units and percentage of ownership interest in common elements is preliminary and may be changed in material respects upon the recording of the declaration and plat.
2. The articles of incorporation or charter of the condominium association, if any.
3. The bylaws and regulations of the condominium association.
J. Disclosures of the existence of other legal documents that are binding upon the condominium, including:
1. Any leases on real or personal property applicable to the condominium.
2. The coverage and amounts of property insurance policies maintained on the condominium building.
3. Any management contract, employment contract or any other contract affecting the use, maintenance or access to all or any part of the condominium. Said disclosures under this subsection shall include:
a. The name of the management agency, if any, and the services the agent will perform;
b. The length of term of any management contract and the charges and circumstances, if any, under which the charges may be increased;
c. The conditions, if any, under which the contract may be canceled or terminated; and
d. A statement disclosing any relationship between the developer and the management firm.
K. A statement of sale prices, terms and options for condominium units.
L. A floor plan of the condominium unit offered for sale.
M. A description of any appliances and other personal property included with a unit offered for sale.
N. A statement of the operating costs, such as costs for utilities, heating fuels, janitorial services, trash and garbage disposal, ground and building maintenance, security, maintenance or recreational and other facilities, building insurance, elevator maintenance, sidewalk and street maintenance and taxes for the three (3) previous years.
O. A statement of the estimated operating budget for the condominium project, projected for a period of one (1) year from the expected date that control of the project would pass to the board of managers. The projected operating budget shall include:
1. Operating costs, such as costs for utilities, heating fuels, janitorial services, trash and garbage disposal, ground and building maintenance, security, maintenance or recreational and other facilities, building insurance, elevator maintenance, sidewalk and street maintenance and taxes. Said costs shall at least be shown in the aggregate and identified as operating costs.
2. Management costs, such as the costs of management fees, accounting and bookkeeping services and legal services. Said costs shall at least be shown in the aggregate and identified as management costs.
3. Reserve costs, such as reserves for improvements, unexpected repair work, and replacement and upkeep of common areas and facilities. Said costs shall at least be shown in the aggregate and identified as reserve costs.
P. A statement of the provisions the developer has made to cover the proposed operations and maintenance budget in the event an insufficient number of units are sold.
Q. A report from a professional engineer or architect, licensed by the state, describing the condition and expected useful life of the following structural elements at least thirty (30) days prior to closing sales contract:
1. Roof.
2. Foundation.
3. External and supporting walls.
4. Mechanical, electrical, plumbing, heating and structural elements.
5. All other common facilities.
To the extent possible, all said descriptions shall be provided together with an estimate of repair and replacement costs at current market prices for those elements, which need repair or replacement.
R. A statement verifying the number of applications of roofing systems existing on the building. If more than two (2) applications of roofing systems exist, the developer shall provide an estimate of cost for a complete tear-off of the old roofing systems and the application of a new roofing system.
S. A statement indicating that the electrical service for each condominium unit is in compliance with section 16.46.070 and a list of condominium units, identified by number, which indicates the size of the electrical service in amperes for each unit.
T. A statement indicating that the electrical service for the building, based upon the per unit electrical service requirements of section 16.46.070 , is equal to or greater than the electrical service requirements set forth in the city's electrical code.