Residents of the in are reportedly divided by a nearly $10 million repair and improvement project.
According to a report in the Ridgefield Press, about 287 unit owners — many of them retirees on fixed incomes — are facing roof repairs, siding replacement and other needed improvements. Depending on which unit they own, some residents will have to fork out more than $54,000 for the repairs, the report states.
Should the "Phase 2" unit owners decide to proceed with the repairs, they will have the option of paying in a lump sum (possibly using a home equity loan) or participating in a 15-year loan the Casagmo board has arranged, with monthly costs ranging from $167 for the efficiency studios to $472 for townhouses with garages, the Ridgefield Press report states.
Residents held a contentious meeting in the development’s clubhouse Tuesday during which some board members were shouted down, according to the report.
Meanwhile, one unit owner, George Frank, who organized Tuesday’s meeting, is reportedly circulating a petition calling for board members to step down.