Friday, May 05, 2006

Whatever in the World Happened to $1.54 million Settlement?

Concerned Coto de Caza residents, over the “vehement objection” of sub-association board of director’s president, pressed with a law suit to settle a number of construction defects in their district – such defects are documented in a voluminous notebook.

At the time, it is reported that the sub-association was in the red with some -$60,000.00 to their credit.

The short story is that a settlement agreement was reached between the homeowner’s association and the builder’s insurance company for a reported $1.54,000,000.00. A reported caveat in the settlement is that the funds are to be used for common area improvements and not for homeowner repairs! Besides a reported complete replacement of a drive way to a homeowner who happened to be on the sub-association board of directors, there does not seem to be evidence that the $1.54,000,000.00 have been used in common area improvements. So the question is: Whatever in the World Happened to $1.54 million Settlement?

We were referred to the sub-association’s property manager, but apparently she will not be available for a couple more weeks.

We do not make jokes, we simply watch the Coto de Caza Board of directors, the LA Trash and the Orange Crud Repository and report the facts

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