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CNN CNN Newsroom Live June 4, 2024 07:49:00

Residents were levied in april of this year, totaling $15 million. my mom was very strong-willed as we talked about, and she would be yelling at the top of her lungs to make sure that anybody that was responsible for this is held accountable. reporter: a spokesperson for the champlain towers south condo association did not provide comment about the budget report. attorney peter sachs specializes in condominium law in florida. buildings need to be maintained on a regular basis. they need to be checked. they need to be fixed. they need to be brought up to standard. and that s best done over the course of time in a planned-out manner with funds on hand. reporter: records show that the association struggled to get loans. it was denied by two lenders. now, they cited that the association was considered high-risk, at least in part because of the low funds in the reserves. they eventually did secure a $12 million loan for repairs, but that didn t come without ....

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CNN CNN Newsroom Live June 4, 2024 06:48:00

Company s report was a wake-up call for the condo board. spurring the assessment residents were levied in april of this year, totaling $15 million. my mom was very strong willed, as we talked about. and she would be yelling at the top of her lungs to make sure that anybody that was responsible for this is held accountable. reporter: a spokesperson for the champlain towers south condo association did not provide comment about the budget report. attorney peter sachs specializes in condominium law in florida. buildings need to be maintained, on a regular basis. they need to be checked. they need to be fixed. they need to be brought up to standard. and that s best done, over the course of time in a planned-out manner with funds on hand. reporter: and records show that the association struggled to get loans. it was denied by two lenders. now, they cited that that the association was considered high risk, at least in part because of the low funds in the ....

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