Quote:
Originally Posted by EdVinMass
They will be paid for out of the budget for legal fees (approximately $250,000 this year) for the two special CDDs. The IRS is challenging the bonds issued by those two CDD’s not you or your numbered CDD so it’s appropriate.
You need to change your thinking about the amenity fee and the two special CDDs. You are obligated to pay that fee and expect a reasonable level of service to maintain the amenities at an acceptable level as they were when they were built. But you have no say in how the money is spent. Your contract clearly states this.
As I stated before, if a multi-million dollar judgment is eventually leveled against those two CDDs, then it will be up to the majority owners of the property in those two CDDs to rectify it without impacting the level of service they are contractually obligated to provide to you.
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Where does the money come from for the legal fee budget? Is that budget funded by amenity fees?.. that is my question... Can you answer that please?.