Reported about 1 year ago
The homeowners association board in a Florida townhome community requested a $60,000 special assessment due to underfunded reserves, causing concern among residents facing potential financial strain. However, after a heated meeting, the entire board resigned immediately following the vote, attributing the high fee to the need for sufficient reserves to secure insurance. While some argue the necessity of the assessment, others emphasize the importance of proper funding to avoid future financial challenges.
Source: YAHOO