How long will Project Remediate take and what are the steps involved? There is an 11-step streamlined process designed to ensure that the owners corporation is guided along the way and receive quality assurance from every service provider and contractor involved.
Owners corporations will have approximately six months to consider registering interest in Project Remediate from April 2021.
- Eligibility Assessment
Owners corporations will be asked to provide relevant information about the strata scheme and the building, including building designs and documentation, assessment reports, council notices, orders and correspondence, and strata financial and insurance information.
For eligible buildings, consent will be sought for contractors to inspect and undertake investigation and assessment of the building, on average 180 days.
- Initial design options
The managing contractor will provide the owners corporation with two remediation options that have been partially designed, and indicative costs.
- Full design
The Managing Contractor will arrange for a full design of the preferred remediation option.
The owners corporation will be provided a design (based on its preferred option), a recommended remediation contractor and a lump sum price (including a contingency), and the necessary contracts (novation of design, remediation contractor, superintendent of remediation contractor and the assurance consultant).
The owners corporation must then sign the following instruments:
- Triage novation
- MC as attorney for certain contracts matter
- Design novation
- Remediation contractor
- Superintendent contract
- ‘Assurer’ contract
On average, remediation work is estimated to take around 180 days (six months).
It will be conducted safely and will be fully coordinated by the managing contractor. Access and amenity for residents will be maximised as far as possible.
A reporting and information sharing mechanism will be available for residents to report any issues to the managing contractor for prompt rectification.
After the work is complete, the designer, remediation contractor and other contractors will have to comply with the new Design and Building Practitioners Act.
A defects liability period of six months will apply. Loan repayments will then commence.
- Statutory warranty
A six-year statutory warranty against major defects applies.
Note: All information has been taken from the Fair Trading resource “Project Remediate: Understanding the Program”.