QUESTION
Our HOA board isn't being open with the financial information that would help us know whether the special assessment is reasonable. Don't they have to
Asked on Dec 01st, 2015 on Zoning, Planning and Land Use - Colorado
More details to this question:
Our irrigation pump went out in our subdivision April of this year. Our HOA board decided to "repair the pump" for a sum of $15,448.49, They only got one estimate. Then they decided to purchase an additional pump for a back up for $3,200.00. Neither purchase was consulted with the homeowners. They also spent $4,742.42 on replacing front landscape rock in ALL 41 homes. Last years HOA minutes stated: "There was a discussion regarding the gravel that is dissipating in some yards. It was decided we could spend up to $1,000.00 this year to replace gravel. Motion was made, seconded and passed." We had a combination of decomposed granite and 2" granite. They destroyed the dimensional look that was in our front landscape. This example of over spending is out of control. Do we as homeowners have a recourse. He now want to raise our dues and we pay additional $629 special assessment. There are multiple examples of over spending within our budget. Why bother to create one!
1 ANSWER
3 Awards
Yes, you have recourse - overthrow the board and elect more fiscally conservative officers. That is your best course of action.
As far as the past spending unless the board acted outside of its powers, it is elected to make the financial decisions mentioned above. You may have an attorney review the HOA docs to determine if you have a case against the HOA, but reasonableness of the spending is not the standard of measure.
Good Luck!
Answered on Dec 02nd, 2015 at 6:35 AM
Call Don at (303) 688-0944 or email at Reception@RobinsonandHenry.com This information is provided AS IS; and does not create Client Relationship.