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June 2014 Archives

The Budget Process - A License to Steal?

Some developers, in order to maximize marketability or to comply with a municipality's desire to provide for low or middle income housing, create multi-type unit developments. For instance, the first phase of the development may be developed as a condominium regime (the "Condominium") and the second phase of the development may be developed as free standing or attached single-family homes (the "Homes"). Both the Condominium and the Homes are included in a master homeowners association (the "Association") which is created to own, operate and maintain certain common areas owned by the Association (the "Common Area") which are improved with roadways and recreational facilities to be used and enjoyed by both the owners of the Condominiums and the Homes (the "Members").

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