The financial magnitude of the problem, initially estimated by the first Barrett Commission to range between $600 million and $1 billion, appears to be correct. The accommodation of this cost was assumed in the first Commission report as follows: Approximately 40% by the Reconstruction Fund; ii) 10% 20% by NHW; and iii) the remaining 40%-50% through various tax waivers and rebates, public sector programs through CMHC, and private homeowner resources.
NHW’s failure and the lack of other financial support programs mean there is greater pressure on personal resources than initially estimated in the first Barrett Commission report. These resources will be withdrawn from the mainstream economy and reallocated to repairs. The spill-over costs of this untenable burden will ultimately be borne by consumers, taxpayers, the residential construction industry and, to a lesser extent, the entire economy.
In terms of Pest Inspection Fees economic growth and development, premature building envelope failure represents lost opportunity and wasted resources. The effect of the disaster is no different than a billion-dollar oil spillcompletely avoidable, and expensive to clean up. Once a disaster like this occurs, the costs become greater if remediation is not undertaken in a timely and efficient manner. If effective, timely, and socially-responsible repairs are not undertaken, the cost of this problem will escalate quickly. Another direct cost which raises serious concerns is the cost of repeat remedial action. This is a building.
When it was three years old, they discovered a lot of rot and went in and took all the stucco off, improved details and went back with what could be called a concealed-barrier-type wall assembly, which is slightly better than a face-seal wall assembly. We’ve been back fixing this building over the last year, so in a five-year period, since the original construction, this building has been fixed twice. And you know, it’s an incredible hardship to go through this once, but going though it twice is brutal.