SPECIAL ASSESSMENT VOTE
The vote on the special assessment of $100.00 per household was defeated by a vote of 49 to 19 (I am doing this from memory and it may not be accurate, although I know it did not pass by a wide margin). I do not believe that this was as much an indictment of the HOA Board as it was in response to the revelation that the HOA has plenty of money in its accounts to meets its needs and to fund a adequate reserve based upon anticipated future expenditures. The vote also reflected the fact that while a number of the members in attendance may not like what they perceive I did wrong, there were other things the HOA could have done to protect its interests in an appropriate fashion that did not involve expensive litigation. The vote evidenced something that I have been saying all along - you have to hit a person in the pocketbook before he takes notice of anything.
Copyright © Larry C. Oldham, P.C.
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