Latest Breaking News On - Champlain towers south association - Page 1 : comparemela.com

concrete deterioration, and if left untreated, small problems can develop into major issues over a relatively short amount of time. the amount of deterioration that we saw at champlain towers south made me wonder how much of that was visible 5, 10, 15, or 20 years ago. reporter: robert nord lund, the ceo of association reserves, which prepared the budget report for the condo association, says a gap in funds is not unheard of. about 3 out of 10 associations across the country in a weak financial state with respect to reserves. reporter: the champlain towers south association was projected to have a little over $706,000 in its reserves as of january 2021 according to the report, while association reserves recommends its stockpile nearly $10.3 million to account for necessary repairs. just 6.9% of the funds it should have had. nordlund says he believed his company s report was a wake-up call for the condo board, spurring the assessment

Champlain towers southConcrete deteriorationBudget reportAssociation reservesRobert nord lundCondo associationChamplain towers south associationJanuary 2021Wake up callCondo board210 3 million6 9210 3 million