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Special Assessments

Discussion in 'Condo & Co-op Issues' started by sas2486, May 24, 2018.

  1. sas2486

    sas2486 Law Topic Starter New Member

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    Hello,

    I purchased a condo last year. Last month I learned my HOA wants to issue a special assessment of around $6,000 to pay for new siding for the 20 buildings in our community. The bid from the siding company came out to $6,000 per homeowner but that was just a quote and not the final number. The HOA says they are still getting information together about the costs and payment terms. They want to start the project in a few months and may allow us to make monthly payments depending on what kind of loan they can get from the bank.

    The board president has said that she will not hold a vote about this project and it will be going forward soon.

    I cannot afford this assessment. Many of my neighbors cannot afford it either. My neighbors and I also question the necessity of it. The board has not demonstrated that this is an emergency at all. While some buildings have had some problems with leaking, it was nothing major and the HOA did not explain why they can't simply fix those 3 or 4 buildings and why they need to overhaul the entire community at a cost of at least $1.5 million.

    I read that according to IL law, if 20% of homeowners sign a petition, it will force a vote. That is my goal. I want to start the petition process now, but the HOA has not released any finalized information yet.

    My question is: Can I get homeowners to sign the petition before the HOA puts out formal notice, with finalized numbers, about this project? Or do I legally have to wait until the project is actually made official? I would hate to spend time and effort to get a petition signed by my neighbors and find out it won't be legal and that I'll have to do it again later on.

    Any advice would be appreciated.
     
  2. adjusterjack

    adjusterjack Super Moderator

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    Whether or not your petition turns out to have any "legal" force, it will at least let the board know how many homeowners object to the proposal. They can even sign that they flat out won't pay for it if it does happen. The more homeowners make noise about it the more likely the board might back off. At any rate, you and as many other like minded homeowners should immediately start attending meetings and start putting the board's feet to the fire, even voting them out if appropriate.

    You might also investigate whether the board president has any financial ties to the siding company. I smell a rat.
     
  3. army judge

    army judge Super Moderator

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    Another HOA story of bullying and dictating to alleged homeowners.

    A cautionary tale for sure.
     
  4. zddoodah

    zddoodah Well-Known Member

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    Not sure how you expect anyone here to know whether you have the ability to persuade your fellow owners to sign a petition.

    You are free to try and get your fellow owners to sign a petition at any time.

    I suggest you discuss this matter with your like-minded neighbors and pool your resources and consult with a local attorney who handles HOA matters. Otherwise, there's a reasonable likelihood that you'll get something wrong and end up wasting your time.
     

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