[not an official HOA BOD communication]
To: All homeowners of VOS
Subject: A need for a change in covenants about painting
Attachment: Association documents in pdf format
The board made the decision on June 5, 2017 that the HOA can not afford to do the painting of the units including both single homes and attached homes. The board’s solution was that the homeowners would need to pay to have their unit painted if they wanted ,or wait until there was enough money in the reserve account and then the HOA would paint. (Of course the other solution is an assessment which would required 51% vote by all homeowners p.504 Section10).
This decision made by the BOD means there needs to be a change in the covenants p491 Section 2(i).In this section2(i) the phrase “The association also shall maintain” means that the HOA must do this maintenance of painting the exterior of the structure. (After 15years the units need to be painted)
Our fiduciary responsibility as the BODs is to be transparent with the HOA membership and to disclose to potential home buyers that the HOA is no longer able to provide painting for the exterior structure of all units.
In order to change the covenants there would need to be a 65% vote by all home owners to remove the responsibility of the HOA from painting the exterior of the structure.
Please read this Chicago Tribune web article.
Please respond with your comments,
[email address is in this websites members directory – available here – please email any official replies directly to Barbara Biggs]
[The attached pdf file – available here – is a large combined HOA documents file with amendments]
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