Title: Entire Florida Homeowners Association Board Resigns Amidst $60K Special Assessment Controversy

In a stunning turn of events, the entire board of the Villas of Carillon townhome community homeowners association (HOA) in Feather Sound, Florida has resigned following a heated dispute over a $60,000 special assessment.

The homeowners received notification of the assessment in early June, revealing that the HOA's reserves had never been adequately funded in its 20-year history. This financial challenge raised concerns within the community, as each household was expected to contribute around $60,000. A vote was scheduled for June 20 to determine the payment plan.

Fearful of potential home foreclosures and liens, numerous residents attended a special meeting, urging the board to delay making a decision. "This problem is not going away," exclaimed one resident, emphasizing the need for substantial reserves and cautioning against the crippling impact of high assessments.

However, in a surprising turn of events, the entire board announced their immediate resignation via an email following the vote on June 21. The sudden departure left residents stunned and further ignited speculation surrounding the controversy.

The exorbitant special assessment fees stem from new regulations implemented in the wake of the tragic 2021 Surfside collapse in Miami, which claimed the lives of 98 individuals due to construction flaws. The updated regulations now require more frequent inspections and higher reserve funds for condo buildings. Interestingly, the Villas of Carillon townhomes, being only two stories tall, were not subject to the same regulations. Nevertheless, the HOA board cited concerns that insurance companies may refuse coverage in the future without sufficient reserves for necessary repairs, particularly for roof replacements.

However, there are differing opinions within the industry regarding the necessity and magnitude of special assessment fees. Patricia Staebler, a certified reserve specialist based in Sarasota, emphasizes the importance of properly budgeting for future renovations through reserve studies. According to Staebler, while it is not common for associations to be 100% funded, it is crucial to meet the annual funding requirements for reserves.

Meanwhile, the townhouse owners in the Villas of Carillon community hope that postponing the vote will provide them with sufficient time to gain a deeper understanding of the factors contributing to the high special assessment fee. They seek additional documentation and financial review to comprehend how the calculations were made and determine if the amount is justified.

The sudden resignation of the entire HOA board has left the community in a state of uncertainty. The outlook for resolving the special assessment dispute remains unclear, as homeowners grapple with the potential financial burden that lies ahead.