Another crumbling old CID...
I keep harping on the time bomb issue, meaning that aging HOAs are going to increasingly find themselves facing some major life cycle problems. Things wear out, it costs a lot to fix them, and there is nobody but the owners to pay for it. Result: problems, conflicts, and financial challenges facing owners. Fred Pilot sent this story along:
Crystal Falls Lake is covered with algae. The subdivision's stables and clubhouse are run down with dry rot, bad roofs and chipping paint. Most property owners agree that the more than 50-year-old subdivision's amenities are in dire need of repair. What repairs to do first and how to pay for them, however, are the subject of an intensifying fight.
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