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Old 12-14-2006, 05:21 PM
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Join Date: Dec 2006
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Special Assessments

What is the name of your state? IL

Good afternoon - can a condo bd assess a special assessment before knowing what the final amt of a project is going to be? Does an assessment need to be exact what the proposal was, or can they give themselves leeway (in other words, project initial budget $5mil, bid is $4mil, final projected cost if $5.5mil) - can they assess $5.5mil BEFORE the final exact amt is known?

Thanks in advance....
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Old 12-14-2006, 08:17 PM
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Sounds reasonable....so, yes.
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