HOA Legislation updates – March 2017 (CO and FL)

by Deborah Goonan, Independent American Communities Colorado Construction Defects debate heats up, but is compromise possible? A new compromise bill has been introduced in the House, in the hopes that Colorado legislators can finally address the state’s highly controversial construction defect laws pertaining to common interest, association-governed communities. In past blogs, I have criticized the concept of requiring a membership vote on the decision of whether or not an Association should sue a developer in Continue ReadingHOA Legislation updates – March 2017 (CO and FL)

Florida condo bills address Grand Jury report and condo terminations

By Deborah Goonan, Independent American Communities In Florida, more than a dozen bills related to Association Governed Communities have been submitted for consideration this Legislative session. I highlighted a few of them in an earlier blog.  But on the heels of the recent Miami-Dade Grand Jury report, blasting the Department of Business and Professional Regulation (DBPR) for its ineffectiveness at reining in corruption by enforcing existing condo statutes, two new bills have been filed: HB Continue ReadingFlorida condo bills address Grand Jury report and condo terminations

Chicago Palatine condo deconversion attempt

By Deborah Goonan, Independent American Communnities   Think condo to apartment conversions only happen in Florida? Or in the core of major cities such as Chicago? Think again. If the latest attempt at deconversion survives a pending lawsuit against investors, The Woods at Countryside will be one of the largest suburban condo communities to go rental. Originally built as apartments in the early 1970s, the Palatine community was converted to condos at the height of Continue ReadingChicago Palatine condo deconversion attempt

Owners continue to lose money following forced condo terminations

By Deborah Goonan, Independent American Communities   Back in October, the Bradenton Herald reported that Minnesota-based firm Riley Family Corp. had acquired more than 90% of units at Palm Cove Condominiums, and voted to terminate the condominium association. The company apparently intends to convert Palm Cove into a rental apartment complex. How did this happen? According to the Bradenton Herald, in January of 2016, Riley Family Corp. purchased 302 of 348 condo units, then immediately began Continue ReadingOwners continue to lose money following forced condo terminations