Quote:
Originally Posted by I-Hate-Hulse
Whoa - just as long as they are not using all of the reserve funds to do the items you mentioned. They are not permitted to take from the funds needed to replace the roof, or boiler, or other items of non affected items listed. If they do to make this special assessment "softer", they will be forced to special assess again to "replenish" what they took.
As a member or President of the Board I've special assessed many times but have always provided residents with full details and explanations as to the required expenditures - I hope they have done so with you.
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Yes - sorry I should have been more precise with my language. Based on what I've read, it is the amount that was set aside for these items that is being drawn down.
Unfortunately, we're really short on details at this point, other than 'these are all the things that need to be fixed and here's how much it's going to cost'. Reasons for why the estimated cost and timelines are not aligned with what was forecast have not been explained, certainly not to my satisfaction. I'm hoping to get some answers next week, at the very least :-)