[SFH] [AZ] Our community is supposedly almost insolvent due to gross mismanagement plus...
We have 2 boards. A main one for the whole area, and the one just for our community. The main board has called our board a rogue board and said that they've tried helping to bring down our costs but that our primary board refused. We now got notice that they want to tear out our landscaping community wide, increase our fees AGAIN (we're paying $310 already), make us pay an extra fee for the reserve, plus have us do our own yards (that they also want to tear out without our approval). To note- the president, VP, and Treasurer, moved in 9 years ago, took over the board, changed the bylaws to let them stay on indefinitely, took out a $1.8 million dollar loan with the new management company they immediately hired (and now we're paying out the wazoo on that loan), had much higher insurance than needed (per main board, too), pay WAY more on landscaping than needed (also per main board), etc. The president and VP just listed their houses for sale, and moved to CO ("where it's nicer"), but are still on the board. All very suspicious that they're selling and leaving just as our community is almost insolvent after their "management", but staying on to raise prices. I'm saying it would be better to go insolvent and have an atty. take over. Nobody else will go on the board (including me) because they vote you out of everything and yell at you if you try to make changes. We tried going on the board, tried helping out, and even the main board gave up. We could vote them all off. It would be tough getting signatures as it's HOT right now, though. Thoughts?