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Re: Board of Directors (by Kenneth J.):

We have an every other year week. It seems completely out of line to be billing owners when we have no information on the project... To the best of our knowledge a contract has not be given. We are being asked to put money up front years in advance of when it is needed. If it's a 5 year project it should be prorated over 5 years. If they are spending this much money on renovation the regular maintenance fees should go down as the buildings should be as good as new.

Has anyone check with the local title insurance companies to see if they can generate a ownership list? Our week is paid for and we have some kind of Deed that was suppose to have been recorded. Also Is the project taxed on a unit basis or on a project basis. There should be more than one way to get ownership information. I'll check my file and see where our paperwork says it was recorded and will make a call. If I find anything I'll report back.

How does not paying this impact one's credit if one were to walk away?

My biggest concern is that this company will further scam us... with cost overruns... management fees etc. I see no provision for escrowing these funds? Just handing over $65,000,000. with now progress is scary...

kjwreinc@gmail.com