In short, yes. The loan is to the condominium corporation, however, ‘opt outs’ may be permitted. This allows those owners who prefer to pay the assessment up front the opportunity to do so, and allows those unit owners who do not have such capacity the option to participate in the loan. With this structure even those who plan not to participate in the loan may vote in favour of borrowing to allow other owners the opportunity and results in a net positive for the corporation.