An entire Florida homeowners association board quits after $60K special assessment dispute — what happened
Why did the Villas of Carillon HOA board resign?
The Villas of Carillon HOA board resigned due to a dispute over a proposed $60,000 special assessment for each homeowner. The assessment was meant to fully fund the maintenance account, as required by new state requirements following the 2021 Surfside condo collapse. However, residents questioned the necessity of such a large assessment, and a certified reserve specialist suggested that the HOA was not required to demand 100% funding upfront. The board's resignation came after residents successfully postponed a vote on the assessment.
What caused the $60,000 special assessment at Villas of Carillon?
The $60,000 special assessment at Villas of Carillon was caused by the HOA's reserves never being fully funded in its 20-year history, leading to a significant financial challenge for the community. This was exacerbated by new Florida state reforms requiring reserve and milestone studies and annual contributions to reserves for units three stories or higher, prompting the HOA board to request funding for proper maintenance.
How did the 2021 Surfside collapse affect condo regulations?
The 2021 Surfside collapse led to increased regulations for condominium buildings in Florida. These regulations require more frequent inspections, mandate reserve and milestone studies, and necessitate annual contributions to reserves for units that are three stories or higher2. Additionally, many condo associations are raising fees to build a larger reserve for repairs.