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Larry Bud
 
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Default How to stop an HOA from blowing a quater million bucks


Larry Bud wrote:
Got a letter today from the VP of the Management for our site condos
today. Almost every year we have to patch about 1/2 mile or so of road
from pot holes. The roads are not heavily travelled, and only used by
our sub, and while the pot holes were a nuisance, the road is only 15
mph.

The letter states that the board had conferred with several asphalt
contrators who have concluded that the road was "originally installed
an an incorrect pitch with much of the base comprised of grey wet
clay". The board had decided to tear out a good portion of the road,
and the estimated cost was $225,000. Our dues are to go up from
$75/month to almost $300 from jan to apr, then back down to $80 after
that.


Just a follow up to this as I get more info:

We have started a petition to 1) oppose the increase, 2) call a
special meeting (we actually need a certain % of signatures to do this
and 3) remove the president of the board. I hit the pavement and
talked to 20 people, 19 of which signed the petition, and 1 who was
some old cranky guy that told me to "go to hell". Kinda funny.

We have found out that the builder had a $500,000 bond for the road.
The sub was built 10 years ago. It was told to many of the people
(at least this is what many residents that I talked to said... the fact
that it came from several independant sources tell me that it's most
likely true) that the bond ran out a few years ago, but now we found
out that it really ran out 6 months ago!

We're trying to figure out who told whom what, and who pushed for the
road just now, instead of 2 or 3 years ago when it could have been
covered by the bond, and what relationship is between the builder and
the management company..... follow the money.