ChrisS29 (Florida)
Posts: 48
Posts: 48
Posted:
This is a condo in Florida where there are multiple phases, one phase uses communal laundry facilities while the others have laundry in their units. The Association maintains a separate laundry account dating back to when it maintained the facilities completely and sold the tokens for the machines. Now a vendor is licensed to maintain it and the money generated through cards recharged at a kiosk is reimbursed (minus their fees) back to the account.
Some argue that the unused money after expenses that accumulates in the account should be used for improvements and towards assessments that impact that phase considering it's money generated solely by that phase. Some argue that the account be eliminated and all money go into the operational account for use by the entire community. I see the points of both sides, but I'm wondering is there a legal precedent that money generated by one phase being used for that phase. The association is one entity, there are no sub-associations for the phases.
Some argue that the unused money after expenses that accumulates in the account should be used for improvements and towards assessments that impact that phase considering it's money generated solely by that phase. Some argue that the account be eliminated and all money go into the operational account for use by the entire community. I see the points of both sides, but I'm wondering is there a legal precedent that money generated by one phase being used for that phase. The association is one entity, there are no sub-associations for the phases.