Please ask Governor Quinn to VETO SB2664
On May 22, 2014, Illinois Senate Bill 2664, Condo Assessment-Nonpayment-Lien, was passed in the House after having been passed in the Senate on April 8. It is now on Gov. Pat Quinn’s desk awaiting signature or veto. This bill provides that in the case of the sale of a foreclosed unit, the amount due to the Condominium Association may include any attorney’s fees and court costs as well as regular assessments, but the TOTAL amount collected by the Association may not exceed 9 months worth of regular assessments.
Previously, an Association was able to claim for 6 months of regular assessments PLUS legal fees and court costs, unpaid special assessments, unpaid fines, and damages to the property.
This means that eventually all other condominium owners will have to make up the shortfall.
This bill favors buyers’ attorneys, realtors and bankers, not condominium associations. It makes it easier for them to sell foreclosed units. A lot of lobbying has gone into seeing this bill proposed and passed.
A similar bill (HB2646) was defeated in the House last year 41-70-4.
The only chance we have left to fight it this year is to ask Governor Pat Quinn to VETO SB2664.
MAKE YOUR VOICE HEARD!
By phone:
To the Governor’s Chicago office: (312) 814-2121
To the Governor’s Springfield office: (217) 782-0244
On the internet: http://www2.illinois.gov/gov/Pages/ContacttheGovernor.asp
By mail:
To the Governor’s Chicago office:
Office of the Governor
James R. Thompson Center
100 W. Randolph, 16-100
Chicago, IL 60601
To the Governor’s Springfield office:
Office of the Governor
202 State House
The next meeting of the Board of Directors will be held on Tuesday, July 15, 2014, at 10:00 AM in the Board Meeting Room, West Tower sub-basement. The abbreviated agenda will include voting on the boiler, boiler flooring, and security camera contracts.
345 Fullerton Parkway 