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Re: Manhattan Club Lawsuit (by John C.):

Tulipblossom please

See /READ my response yesterday! It answer most of your questions.The funds comes from the other owners. That is the $7,000,000 "Reserve for Bad Debts" in the budget for the maintenance and taxes not paid by some owners. See the Budget for 2018. All the detail is there. This is one of many expenses that are recouped through maintenance fees. I have copied you message below and include answer therin

"I certainly understand the decision of some not to pay their maintenance fees but I question how the Manhattan Club can be run and bills paid if there are a lot of owners who do not pay their maintenance fees –Approx 2800 units - just where do funds come from to make up the deficits ?--It is the $7,000,000 Bad Debt reserve in the budget--- Is that where the $6,000,000 settlement comes into play - NO - and that money is to go into the HOA fund to pay bills. But again, how have bills in the past and present been paid –From the collected Maintenance fees - wouldn't think there are any loans that have been made to the Manhattan Club. And also, I wouldn't think the HOA has enough in collected reserves to pay all the outstanding bills if there are a large number who haven't been paying their assessments? “

My estimate is that an extra $500+ is amount each paying average unit owner is being charged to cover the shortfall caused by non paying members.

John Email me at Contini.John@gmail.com if you have questions or further explanation