 |
| Despicable Me - copyright Universal Studio and Illumination Entertainment |
 |
| Despicable Me - copyright Universal Studio and Illumination Entertainment |
The Current Board of Directors have forced Nazi-like behavior on it's members by taking away their voices. We were not allowed to vote for a new director on January 31, 2016 as required by our ByLaws. We were not allowed to vote on the Roof Replacement Project as required by our ByLaws. And the Board of Directors blatantly ignored a request by a member for a special meeting to remove the directors, in accordance to the ByLaws. We have lost our voice. We are no longer a self-governing association.
Our Condominium Fees are outrageous ... over $500.00 per month ... the grounds are a disgrace, there are no services, maintenance, amenities or communication. We are being broken by special assessments on top of these fees. And we have no rights! Everyone is just laying down and taking it!
Have you gotten any communication with explanations that are consistent, reliable, justifiable or correct? There are none!
 |
| Despicable Me - copyright Universal Studio and Illumination Entertainment |
The Special Assessment for the Roof Replacement Project is a prime example of the Nazi's wielding power outside of their jurisdiction ... ABUSE OF POWER.
D) Why are we not allowed to hold votes?
E) Where are monies assessed in special assessments and in fees from 2012 dedicated to roofs?
S) Where are the monies assessed in fees for legal 2013-2015?
P) Where are the monies double assessed for chimney caps in 2013, audits in 2013?
I) Where are the monies assessed in 2013 for a Management Company, and Reserves?
C) Why is the amount reported to us in the Reserve for Replacement of The Common Area fluctuating with no Capital Projects being done?
A) Where is the detailed explanation? Audits ... are they manufactured?
B) Where is the Capital Plan promised in 2013? How long do we have to wait?
L) Why is the money not going where the budget(which our condo fees are based) promised?
E)When do we get the contract(the Governing Documents of Eastside at Crotched Mountain Condominium Association) we agreed to ... honored?
 |
| Despicable Me - copyright Universal Studio and Illumination Entertainment |
While the Board of Directors may give you several different explanations for the same questions ... most do not hold water!
We did not charge enough in condo fees!
In 2012- there was $23,648.00 in cash leftover, in 2013- there was $12,990.00 leftover, in 2014- there was $12,164.00. All of these amounts are cash and on the audits ... and these amounts would have been substantially higher if those who did not oblige the fees had paid them! Our bottom line was in the BLACK!
We had a loan for the roads!
And, YES, WE were assessed for the roads. And in 2012-2014 there was cash money leftover.
People did not pay their condo fees or assessments!
Yes, there were outstanding fees($16,664.00 as of 2014) not paid by several members ... but monies were left over.
We had too much snow!
And there was cash money leftover.
Prices have gone up!
And there was cash money leftover.
 |
| Courtesy of Pinterest |
E) In 2012, The BOD stated that the roofs needed to be done. The BOD said there was no money to do that. Where was all the monies that were allocated to the Capital Reserve? With a portion of the monthly fees attributed to the Capital Reserve and Special Assessments to the Capital Reserve there should have been in excess of $100,000 available Capital Reserve Funds.
In 2009 they said we had a Capital Reserve ... they reported it. Yet, the audit done for 2009 (done in 2013, as a member had to sue to get audits done) said we had no reserve for the replacement of the common area. A Special Assessment for Roofs was done in 2012 ... $1000.00/unit($22,000.00 collected), $15,353.00 was collected for the Capital Reserve in 2013-2014 in condominium fees, in 2013 a special assessment for reserves of $1000.00/unit and in 2015, $21,600.00 was budgeted for Capital Reserve/Roofs .... A total of: $82,953.00 for roofs 2012-2015 alone ... where is that $83,000.00?
S) The BOD states that they have not paid any monies to the Law Firm of Winer and Bennett nor have they paid Darrin Brown, ESQ for the Kelly Lawsuit. There is a court order mandating that they pay Darrin Brown (attorney for Kelly) ... they choose to violate a court order? The BOD has collected in excess of $49,000.00 through assessments according to budgets for legal fees. The audits/financials for 2014 and 2015 show $7059.00 and $16,889.00 spent on legal respectively. In 2013, The Profit/Loss Statement published shows $2606.00 spent while the Ledger published showed $11,000.00 in checks dispersed. But in the end we all paid $15,000.00 more than what was spent on legal ... where did that $15,000.00 go?
P) In 2013 we were assessed $12,000.00 for chimneys and $6000.00 for audits as line items in the budget but we paid special assessments in 2012 for $1000.00 and $266.67 for those respectively. Where is that $18,000.00?
I) In 2013, we were assessed line items in the budget, $1,800.00 for a financial management company and $10,000.00 for The Reserve ... Our 2013 Audit shows no reserve and no management company. Where is that $12,000.00?
C) While in Annual Meetings, a Capital Reserve is not only reported on but presented as a line item in the budget ... our audits paint a different story. This has been explained as ... "we can't put it on the audit as we do not have a Capital Plan". Or is it because they continue to mis-appropriate these monies by NOT spending them on Capital Projects? Seriously, they spent over $7,000.00 of the monies collected for The Reserve on non-capital repair expense items in 2015? This was $2,000.00 over the limit to require a vote of the members ... were you allowed to vote on this expenditure? Gee, that was the President's Unit and The former Treasurer's Unit! Sorry, we expected to have a voice!
A) Audits ... are they manufactured? Hell, yes! Interesting facts about the Audits:
1) 2009 - According to year end Bank Statements ... Cash= $24,669.00, Audit says $26,127.00
2) 2010 - According to year end Bank Statements ... Cash= $21,169.60, Audit says $16,980.00
3) 2011 - According to year end Bank Statements ... Cash= $13,985.00, Audit says $11,784.00
4) 2012 - According to year end Bank Statements ... Cash= $21,371.00, Audit says $23,648.00
5) 2013 and 2014 Bank Statements not available.
While these discrepancies may be blamed partly on cash basis accounting vs. accrual basis accounting ... this is not the case in all of the discrepancies!
In 2013 we were assessed for accounts our audits say we do not have ... so apparently they assessed us for the operating account ... the bylaws say they can only assess for reserves ... the audits show the assessment but no reserves. There are 2 reserves: an operating reserve and a reserve for the replacement of the common area ... the BOD refuses to identify these ... WHY? Where did your money go?
B) A Capital Plan ... Promised in February 2013 ... where is it?
L) Where is the money going, if they are not paying Winer/Bennett, Darrin Brown,ESQ, or The Reserve for Replacement of the Common Area? They say they have 2 reserves ... ask how much is in the Reserve for Replacement of the Common Area and how much is in the Working Capital Fund. Ask to see the documentation that these funds have been funded according to the ByLaws, where these funds are in our audits ... ask!
E) If the Governing Documents were followed then chances are ... we would not be in the condition that the Association is in today. Keep voting criminals into office and we will be bankrupt by 2018!
Then you will not only have to pay a mortgage, pay for any services but also all the debts of the association. As of the end of 2015 the financials show long term debt and liabilities as $78,000.00.
WE have ALL paid together $128,000.00 from 2012 to present that should have gone into the reserves for the roof (which the total cost currently stands at $108,000.00 and will be done over two years yet they are collecting all of it now) ... we should not have a $4,500.00 Special Assessment. There should be monies in the reserve account collected prior to 2012 ... Where is YOUR money?
Perhaps the reason the BOD is not able to collect the funds for the "Roof Replacement Project" is because the members have not seen their money go where it was promised in 2012, 2013, 2014, & 2015, can't remove the directors, can't afford a lawsuit ... all true and they know it ... they keep doing "what they feel is best" ... FOR WHOM?
Currently, the units are selling at around $50,000.00 ... cash only. Members cannot refinance, selling is difficult, if not impossible and at a huge loss ... and the Board of Directors is threatening to lien or take your property if you don't pay! What happens if you tell them that you have paid 2012 to present? These threats are at a minimum ... extortion!
Eastside Condo Friends will gladly provide you all the documentation used in this article ... just send an email to : eastsidecondofriends@gmail.com. Sign up to follow the postings on this blog on the FOLLOW Link to the right. You will automatically receive updates via email.
What one person receives without paying for ... another person must pay for without receiving.
The Association cannot give anything to anybody that the Association does not first take from someone else.
You cannot multiply wealth by dividing it.
If people pay what they are assessed for and do not get what they are promised then they will refuse to pay twice for something they have already paid for but not received.
When half of the members get the idea that they do not have to pay because the other half is going to take care of them then the other half gets the idea that it does no good to pay because somebody else is going to get what they pay for.
When few in the association are chastised for standing up to the abuses of power of those who lie, cheat and steal all while not doing their fiduciary duties because they are too busy covering up their own misdeeds, by those who are ignorant of wrongdoing or ambivalent, then, they too are complicit and therefore liars, cheaters and thieves.
This is the beginning of the end!
In five years of not paying condo fees and special assessments ... members could bank that money and get more than the unit is worth ... maybe the only option given the current situation. Sad but true!
These units are currently selling at $50,000 ... three months from now after short sales and a foreclosure they may be worth $30,000.00. Will unit owners be willing to spend 1/3 of the net worth per year on fees and assessments? ... only landlords will ... These units will be no more than apartments. Good luck with the living conditions at Eastside at Crotched Mountain Condominium Association then. Today ... 1/3 of the Association is rentals ... Fannie and Freddie will not be back anytime soon! So let the Gru 1,2,3,4,5,6 tell you that there was no malfeasance, no wrong-doing and all is as it should be ... but where is the $128,000.00 they have assessed us since 2012 for roofs?
S) The BOD states that they have not paid any monies to the Law Firm of Winer and Bennett nor have they paid Darrin Brown, ESQ for the Kelly Lawsuit. There is a court order mandating that they pay Darrin Brown (attorney for Kelly) ... they choose to violate a court order? The BOD has collected in excess of $49,000.00 through assessments according to budgets for legal fees. The audits/financials for 2014 and 2015 show $7059.00 and $16,889.00 spent on legal respectively. In 2013, The Profit/Loss Statement published shows $2606.00 spent while the Ledger published showed $11,000.00 in checks dispersed. But in the end we all paid $15,000.00 more than what was spent on legal ... where did that $15,000.00 go?
P) In 2013 we were assessed $12,000.00 for chimneys and $6000.00 for audits as line items in the budget but we paid special assessments in 2012 for $1000.00 and $266.67 for those respectively. Where is that $18,000.00?
I) In 2013, we were assessed line items in the budget, $1,800.00 for a financial management company and $10,000.00 for The Reserve ... Our 2013 Audit shows no reserve and no management company. Where is that $12,000.00?
C) While in Annual Meetings, a Capital Reserve is not only reported on but presented as a line item in the budget ... our audits paint a different story. This has been explained as ... "we can't put it on the audit as we do not have a Capital Plan". Or is it because they continue to mis-appropriate these monies by NOT spending them on Capital Projects? Seriously, they spent over $7,000.00 of the monies collected for The Reserve on non-capital repair expense items in 2015? This was $2,000.00 over the limit to require a vote of the members ... were you allowed to vote on this expenditure? Gee, that was the President's Unit and The former Treasurer's Unit! Sorry, we expected to have a voice!
A) Audits ... are they manufactured? Hell, yes! Interesting facts about the Audits:
1) 2009 - According to year end Bank Statements ... Cash= $24,669.00, Audit says $26,127.00
2) 2010 - According to year end Bank Statements ... Cash= $21,169.60, Audit says $16,980.00
3) 2011 - According to year end Bank Statements ... Cash= $13,985.00, Audit says $11,784.00
4) 2012 - According to year end Bank Statements ... Cash= $21,371.00, Audit says $23,648.00
5) 2013 and 2014 Bank Statements not available.
While these discrepancies may be blamed partly on cash basis accounting vs. accrual basis accounting ... this is not the case in all of the discrepancies!
In 2013 we were assessed for accounts our audits say we do not have ... so apparently they assessed us for the operating account ... the bylaws say they can only assess for reserves ... the audits show the assessment but no reserves. There are 2 reserves: an operating reserve and a reserve for the replacement of the common area ... the BOD refuses to identify these ... WHY? Where did your money go?
B) A Capital Plan ... Promised in February 2013 ... where is it?
L) Where is the money going, if they are not paying Winer/Bennett, Darrin Brown,ESQ, or The Reserve for Replacement of the Common Area? They say they have 2 reserves ... ask how much is in the Reserve for Replacement of the Common Area and how much is in the Working Capital Fund. Ask to see the documentation that these funds have been funded according to the ByLaws, where these funds are in our audits ... ask!
E) If the Governing Documents were followed then chances are ... we would not be in the condition that the Association is in today. Keep voting criminals into office and we will be bankrupt by 2018!
Then you will not only have to pay a mortgage, pay for any services but also all the debts of the association. As of the end of 2015 the financials show long term debt and liabilities as $78,000.00.
 |
| Courtesy of Pinterest |
As Association Members you are entitled to concise, detailed information backed-up by documentation not just given feebly.
WE ARE ALL TOGETHER paying the obligations of the Association. We have no voice. We are at the mercy of accountants who do not provide us with audits according to CIRA. This is an attempt to hide malfeasance. We are at the mercy of lawyers paid by all of us that are protecting rogue BOD, while they are in possession of the truth! They are not protecting the members as they were hired to do. These attorneys are violating court orders concerning the placement of liens on properties for legal fees upon direction of the BOD. FIND YOUR VOICE AND DEMAND ANSWERS!!!
WE have ALL paid together $128,000.00 from 2012 to present that should have gone into the reserves for the roof (which the total cost currently stands at $108,000.00 and will be done over two years yet they are collecting all of it now) ... we should not have a $4,500.00 Special Assessment. There should be monies in the reserve account collected prior to 2012 ... Where is YOUR money?
Perhaps the reason the BOD is not able to collect the funds for the "Roof Replacement Project" is because the members have not seen their money go where it was promised in 2012, 2013, 2014, & 2015, can't remove the directors, can't afford a lawsuit ... all true and they know it ... they keep doing "what they feel is best" ... FOR WHOM?
Currently, the units are selling at around $50,000.00 ... cash only. Members cannot refinance, selling is difficult, if not impossible and at a huge loss ... and the Board of Directors is threatening to lien or take your property if you don't pay! What happens if you tell them that you have paid 2012 to present? These threats are at a minimum ... extortion!
Eastside Condo Friends will gladly provide you all the documentation used in this article ... just send an email to : eastsidecondofriends@gmail.com. Sign up to follow the postings on this blog on the FOLLOW Link to the right. You will automatically receive updates via email.
Parting Words ... If ... When
What one person receives without paying for ... another person must pay for without receiving.
The Association cannot give anything to anybody that the Association does not first take from someone else.
You cannot multiply wealth by dividing it.
If people pay what they are assessed for and do not get what they are promised then they will refuse to pay twice for something they have already paid for but not received.
When half of the members get the idea that they do not have to pay because the other half is going to take care of them then the other half gets the idea that it does no good to pay because somebody else is going to get what they pay for.
When few in the association are chastised for standing up to the abuses of power of those who lie, cheat and steal all while not doing their fiduciary duties because they are too busy covering up their own misdeeds, by those who are ignorant of wrongdoing or ambivalent, then, they too are complicit and therefore liars, cheaters and thieves.
This is the beginning of the end!
In five years of not paying condo fees and special assessments ... members could bank that money and get more than the unit is worth ... maybe the only option given the current situation. Sad but true!
These units are currently selling at $50,000 ... three months from now after short sales and a foreclosure they may be worth $30,000.00. Will unit owners be willing to spend 1/3 of the net worth per year on fees and assessments? ... only landlords will ... These units will be no more than apartments. Good luck with the living conditions at Eastside at Crotched Mountain Condominium Association then. Today ... 1/3 of the Association is rentals ... Fannie and Freddie will not be back anytime soon! So let the Gru 1,2,3,4,5,6 tell you that there was no malfeasance, no wrong-doing and all is as it should be ... but where is the $128,000.00 they have assessed us since 2012 for roofs?
No comments:
Post a Comment