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Subject: Special Assessment Election
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Author Messages
JonathanL
(South Carolina)

Posts:1


09/23/2019 5:48 PM  
Our South Carolina HOA is holding a special assessment vote over a 30 day period. About a week into the election the HOA has sent out several emails clarifying the ballot language. For example even though the ballot says the proceeds of the assessment shall be for capital improvements specifically including Project X, the HOA sent an email stating that actually means "only for project X." Likewise the assessment was set at let's say 30 a month for ten years at a rate of interest to be determined but a week into the election the HOA says that really means $37 a month. All these new instructions end with admonishment to vote YES.

Are these emails actually amended voting instructions? I think they believe since they are using thid party voting software, they can do as they please.

Here is the language for the time payments in the latest email:

While this is a one-time fixed Special Assessment for 2020, Owners shall have the option upon execution of an installment payment agreement to pay the Special Assessment over one hundred and forty-four (144) months in equal monthly installments of $24.98 for each Residential Lot (unimproved) and $30.17 for each Family Dwelling Unit, together with interest thereon as established by the Board of Directors not to exceed 3.5% per annum.

Note that the monthly payment amounts defined in the referendum do not reflect the payment amount with interest. The payments with interest will be:


• $37.21 per month for a developed property
• $30.80 per month for an undeveloped property
SheliaH
(Indiana)

Posts:2749


09/23/2019 6:49 PM  
I don't know if it's additional voting instructions as much as sending out a badly worded ballot. They would have been better off asking for people to vote yes or nay on a special amendment to pay for project A and nothing else. If they interested in paying for other projects, write those on the ballot and let people vote for a specific project. Whichever gets the most votes wins.

Ideally people would already know how the special assessment payments would work if they said yes. Instead your board has muddied things up by adding the information about payments.

Personally I'd vote the whole thing down if this board doesn't seem to know how to make things clear.
GenoS
(Florida)

Posts:3328


09/23/2019 7:51 PM  
Sounds shady. Probably due to sloppy and careless preparation of the ballots, and not due to any actual wrongdoing. But even the appearance of something that's not quite right should be avoided.

A "special assessment" that goes on for 10 years doesn't seem that "special", to be honest. Is the money going to be spent on Project X all at once and it's the payback terms that require 120 months to pay it off? Is there an option to pay it all at once and avoid extra charges and interest?
GenoS
(Florida)

Posts:3328


09/23/2019 8:04 PM  
OK I should have read the whole thing before hitting "Reply"

With something that important I wouldn't send anything through email. A carefully crafted ballot with clear instructions should have been done right the first time and sent via certified mail to the owners.

New "instructions" being sent after the initial mailing that seem to contain different and conflicting information, and also being sent by email, is why I use the term "shady". It seems like there might be something rotten in Denmark. At the very least I would conclude that whoever set this whole thing up doesn't know what they're doing.

If an owner signs up for the 10-year plan and sells their home in 3 years, who is on the hook for the rest? How would a prospective homeowner learn about it?
SamE2
(New Jersey)

Posts:181


09/24/2019 4:54 AM  
I think your Board is doing you a favor and you should vote they way you want and say thank you. Not sure how interest but it is can change year to year and can't exceed 3.5%. The Board is trying to make the assessment as painless as possible by spreading it over 10 years so people who can't afford it don't have to come up with big payment. I don't know how big your HOA is or if it has a management company but from reading your post is sounds like they need money for a project.
JohnC46
(South Carolina)

Posts:8827


09/24/2019 10:00 AM  
Posted By SamE2 on 09/24/2019 4:54 AM
I think your Board is doing you a favor and you should vote they way you want and say thank you. Not sure how interest but it is can change year to year and can't exceed 3.5%. The Board is trying to make the assessment as painless as possible by spreading it over 10 years so people who can't afford it don't have to come up with big payment. I don't know how big your HOA is or if it has a management company but from reading your post is sounds like they need money for a project.




I agree. Stop busting their chops.
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Forums > Homeowner Association > HOA Discussions > Special Assessment Election



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