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Special Assessment passes

posted Apr 10, 2010, 11:18 AM by Site Admin   [ updated Apr 14, 2010, 2:06 PM ]
A meeting and vote was held last night, Friday 9 April 7:00p, in unit 203, to discuss the proposed Special Assessment for testing associated with the lawsuit against the original builders. The meeting was held in conjunction with Susana Mackenzie from PMC, who held and counted the votes. A quorum of members was present, and the Special Assessment was passed.

As described in the Special Assessment Explanatory Notes, the assessment, divided into two equal payments of $1,000 per unit, is payable on June 1, 2010 and September 1, 2010. PMC will mail invoices for each payment. 

The board in its discretion may cancel the second required payment if anticipated forensic costs are less than estimated and the association’s reserve balance is larger than expected.  Owners will be notified by email no later than July 15, 2010 of the board’s determination with respect to the second payment.