- Target:
- Board Members Four Seasons Condo Assocication
- Region:
- United States of America
Work required to correct problem of earth and concrete settling in pool area. Liablility has not been established but we believe the fault lies with the builder.
We the undersigned, call on the Board members to use monies from Four Seasons Reserve Fund to pay for costs incurred by settling of earth around the pool area and retaining wall. This will eliminate the need for an assessment on the residents at this time.
This is money that residents have been contributing to for many years, why not get the benifit now. Unfortunately some of us will not be here to benefit from the money paid over the years.
$300.000 represents half of what we have at this time in the fund but by continuing our monthly contribution it will soon grow where the money we've used will represent a much smaller percentage of the total package. If we have an expentiture that the fund falls short on then we can at that time have an assessment. This may never happen and if necessary then we are no worse off than we are now. The cost to us will be the interest we lose in our reserve fund, $15,000 pr year, about $100 + a unit per year.
This does not preclude us from being assessed in the future if a problem arises for something that wouold not be covered by the reserve fund.
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The Stabilization of Retaining Wall & Fill Area petition to Board Members Four Seasons Condo Assocication was written by James D Mcgrane and is in the category Miscellaneous at GoPetition.