ILLINOIS – Gold Coast condo association issued three citations over record requests
A condo association that allegedly did not allow a unit owner to inspect tax returns and other financial documents has received three citations from the city.
Notices of ordinance violations have been sent by the Department of Business Affairs and Consumer Protection to The State Parkway Condominium Association, a 160-unit residence near the north end of State Street and about one block from Lake Shore Drive.
Michael Novak says over the past year he has asked in writing to see his association’s federal and state tax returns for 2004, 2005, and 2006, along with a property manager’s financial report and financial statements, but has received just three federal returns.
By city ordinance, homeowner associations have 30 days after a written request to make financial books and records available to unit owners at no charge. After 30 days, a unit owner may sue to enforce compliance and, if successful, recover damages and attorney’s fees. The association can also be fined by the city. Repeated offenses can land condo board members and property managers in jail for up to 180 days.
A hearing is scheduled for Wednesday to address two of the complaints, and on November 2 regarding the third complaint. Read more:
Posted on October 13, 2016, in Uncategorized. Bookmark the permalink. Comments Off on ILLINOIS – Gold Coast condo association issued three citations over record requests.