Governor Pat Quinn responded recently to a constituent who had written about Senate Bill 2664, the Condo Assessment-Nonpayment-Lien Bill that sets new standards for what funds condominium associations may collect in foreclosures.
Thank you for contacting my office with your concerns about SB 2664, which amends the Condominium Property Act. I value your feedback and appreciate the insight you have shared with me. Each day, as I make decisions, I take your opinion and those of others who write and call my office into careful consideration.
This legislation has been passed by both chambers of the General Assembly and sent to me for review. This bill would amend the Condominium Property Acts rules for the collection of repayments by a condominium association following a foreclosure. I am currently reviewing this legislation carefully before taking any final action on the bill.
Throughout my time in office, I have admired people like you who take time to provide ideas, ask questions and offer constructive criticisms. With your continued participation in our democracy, we can make the will of the people the law of the land. Thank you again for expressing your interest and for getting involved. Please feel free to contact me in the future. My office phone numbers are (217) 782-0244 and (312) 814-2121.
Current law allows associations to collect 6 months of assessments PLUS all attorney’s and court fees, unpaid special assessments, unpaid fines, and damages to the property.
SB2664 restricts all moneys collected to 9 months’ worth of regular assessments. 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 similar bill (HB2646) was defeated in the House last year 41-70-4, but lobbying this year by special interest groups has turned the tide against condominium owners.
The only chance we have left to fight it this year is to ask Governor Pat Quinn to VETO SB2664.
IT IS NOT TOO LATE TO MAKE YOUR VOICE HEARD!
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.aspx
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
Springfield, IL 62706
The next meeting of the Board of Directors will be held on Wednesday, September 17, 2014, at 7:00 PM in the Board Meeting Room, West Tower sub-basement.