Florida Homeowners Association Board Resigns En masse Over $60,000 Special Assessment Dispute – Find Out What Sparked The Crisis

Homeowners in Villas of Carillon, a quiet condo community nestled in Feather Sound, Florida, are reeling after the Home Owners Association (HOA) board dropped a bombshell: a $60,000 special assessment.

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The shockwave hit residents hard when they received notices in early June explaining the grim reality that their HOA reserves, which had never been fully funded in the neighborhood’s 20-year history, were about to be depleted. The financial challenge threatened to snowball, leaving every household facing a huge bill.

The notice sent shivers through the community, with each household expected to pay around $60,000. A vote to determine the payment plan was scheduled for the end of June, but the news did not sit well with many residents.

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“I was in shock. I immediately started texting other neighbors,” Tammy Rodeffer, a concerned homeowner, told local station WTSP. “We’re talking about people having to sell, facing liens, even foreclosures. It’s terrifying.”

As the date of the special meeting approached, the homeowners gathered. The mood was tense as residents packed the meeting, eager to persuade the council to halt the decision.

“You have to get your act together on this,” urged Robert Regan, another resident, at the meeting. “This problem won’t just go away. And for apartments, 100% reservations are mandatory.”

But just when the community thought the dust might settle, the unexpected happened. In an email sent immediately after the June 21 vote, the entire HOA board announced their immediate resignation. The vote was tabled indefinitely, leaving residents in limbo as they scrambled to figure out their next move.

The big question lingers on everyone’s mind: What is driving these skyrocketing special assessment fees?

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The story takes a turn when you delve into recent history. Ever since the tragic 2021 Surfside apartment collapse that claimed 98 lives due to shoddy construction, Florida has tightened building inspection regulations. Condo associations across the state are raising fees to boost their reserves for essential repairs. New state laws now require regular reserve studies and annual contributions, but only apply to buildings three stories or taller. Villas at Carillon? Only two stories.

The story continues

The now-defunct HOA board argued that insurance companies would eventually refuse to cover the complex without the necessary reserves, especially with aging roofs that would soon need to be replaced. However, not everyone is convinced that steep valuation is the only way to go.

Patricia Staebler, an experienced reserve specialist in Sarasota, emphasized that special assessments should be avoided if the cost of a project is planned over time. “Reserves should be built up gradually,” she explained. “With annual increases spread over 30 years, you don’t need 100% funding right away, but you do need to meet your annual goals.”

Staebler’s 15 years in the business have taught her that perfect financing is a myth. “I’ve never seen a 100% funded association,” she admitted, “but meeting your annual reserve requirements is critical.”

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As the dust settles, homeowners in the city remain searching for answers. They hope the delay will give them time to investigate the numbers and determine why the assessment reached such an emotional figure.

“We need to see the documents, go through all the financial statements and understand how they arrived at these numbers,” Rodeffer said, echoing the community’s sentiment.

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