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  Home arrow News arrow Latest arrow Condominium Board Assessed for Mishandling of Funds
   
Condominium Board Assessed for Mishandling of Funds PDF Print E-mail
Friday, 16 June 2006

The Village of Kings Creek Condominium Association was issued a warning letter and may fine the association $5,000 by the Department of Business and Professional Regulation after it discovered that $10,000 may have been used to hire an attorney to oppose a development project.

The Village of Kings Creek Condominium Association may be fined $5,000 by the Department of Business and Professional Regulation for misuse of funds. According to a warning letter issued by the DBPR, the association is in violation of Florida law for using $10,000 in association funds to hire an outside attorney to contest Dadeland Breezes, a development project rejected by the Miami-Dade County City Commission last year.

The DBPR received a response letter from Village of Kings Creek President Astrid Buttari on May 10. Gary Mars, the association's attorney, said he is aware of the complaint and that the association ''provided a response in a timely matter.'' Whether a $5,000 penalty will be issued is still not certain, said DBPR Division Director Michael Cochran.

One homeowner wondered why decisions on the large board often receive a unanimous vote. It all began when homeowner Lance Paskewich forwarded an e-mail to the DBPR in February, in which the donation of $10,000 by the association is mentioned. The warning letter was issued in late April.

Paskewich, the association's former consultant and former chairman of the Legal and Budget Committees, said such a large sum was never brought before the board. According to the minutes of the June 25, 2005 meeting, a motion by Buttari 'that the association contribute the amount of $10,000-$15,000 for hiring a land use attorney to represent the association at the August 25, 2005 Board of County Commissioners' hearing,'' was passed unanimously by 10 board members present.

Some have compared the current association board to a dictatorship and said they believe the president and property manager are using association funds in other inappropriate ways, such as clubhouse parties and personal expenses.

By M. Sese
http://realestatepress.org

 
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