Behind HOA Iron Gates - Part One |
Tuesday, 07 June 2016 |
Behind HOA Iron Gates
Texas Monthly Report â Conflicts-and-Interests: âHOAs have become a big business. They generate $40 billion in annual assessment revenue (the dues collected from individual homeowners) and $35 billion in reserves, representing a huge government-like contracting opportunity â only without all the procurement safeguards and transparency guarantees expected of taxpayer-supported entities.â A year ago the gated community of Bluffview Greens elected an unopposed board of directors. Eight months later, the Board had AMS / First Service Associationâs management attorney file a new governing document âResolutionâ at the County Courthouse that nullified previous board decisions. It wasn't until two months after that, the Board - under pressure - finally notified the members of the Resolution filing.
In an attempt to explain the boardsâ justification, the President wrote: âI think that you would agree that, if a political party is voted into an office, it does not need to follow the previous partyâs decisions, regulations, policies, and laws. In fact, I would hope you agree that the voters voted for the new party to have
the rules changed.â⦠Paris Constantzos, President of the Board of Directors Bluffview Greens Homeowners Association. Read more...
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