September 1, 2008
Bonds
Returned Over $2.4 million Dollars to Residents
When nearly 400 homeowners in the “Summerhill” project voiced concern that their property taxes were too high, I reviewed the bonds issued against their homes and discovered that $2,400,000 was owed to them from a settlement with another developer.
I pushed for and was pleased to be responsible for the hiring of an independent auditor. The auditor reviewed the documents and confirmed my findings and the $2.4 million was returned to the homeowners by placing the funds in their specific bond reserve fund.
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