By Deborah Goonan, Independent American Communities Do governments and private individuals spend affordable housing taxpayer dollars wisely? Critics say the industry is plagued by fraud and corruption. What exactly is “affordable housing?” How many times have you heard the industry claim that it’s essential to build condominiums in order to provide more affordable housing? Multiple meanings It depends on who is promoting affordability. Real estate agents and developers often sell home buyers on the concept that Continue ReadingExposing corruption in the affordable housing industry
HOA, condo, housing coop reports of alleged fraud, conflicts of interest, theft by managers, board Treasurers and Presidents Continue ReadingHOA, condo & co-op corruption, fraud, & theft roundup (Sept. 2018)
By Deborah Goonan, Independent American Communities Did you know that condominium associations are not just for apartment-style homes and townhouses? The condominium governance structure is also used for non-residential property such as storage units, garages, and boat slips in a marina. For example, Half Moon Bay in Croton-on-Hudson (NY) is a common interest community with an HOA that represents 3 residential condominium associations and one “dockominium” — a condo association for owners of boat Continue ReadingMarina owner’s lawsuit against HOA disputes access to community pool
by Deborah Goonan, Independent American Communities State Parkway Condominium, located on the Gold Coast in Chicago, has had more than its share of financial controversy. In July, the Association passed a $500,000 special assessment to cover the cost of ongoing legal fees, most of them related to lawsuits against a single condo owner, and former board member, Michael Novak. Troubles began roughly eleven years ago, when the condo association refused to accommodate the Novak family’s Continue ReadingWhy did condo board delay informing owners about offer to purchase entire building?
By Deborah Goonan, Independent American Communities This month’s highlights seem to have a common theme. HOA, condo/co-op statutes offer limited protection for housing consumers, and are a source of mass confusion. Judge: Illinois condo law not meant to control ‘reasonable’ fees for electronic condo sale documents Excerpts: A Chicago federal judge has tossed a putative class action lawsuit by a trio of onetime suburban condominium owners, who alleged they paid excessive fees for state-required Continue ReadingHOA, condo, & co-op case law and legal highlights (July 2018)