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Council flags UDO Section 400.568 over HOA fund transfers, asks staff to review escrow and timing rules
Summary
Councilman Grodeky raised concerns that developers are depleting funds before transferring control of homeowners associations; he asked staff to review UDO section 400.568 timing and escrow practices and to consider changes to protect new HOAs.
Councilman Grodeky told the Jefferson County Council he has received repeated constituent complaints that developers are turning over homeowner-association control after collecting assessments but before HOAs have usable funds. Grodeky asked the council to review Unified Development Ordinance (UDO) section 400.568, which sets transfer thresholds (for example, transfer of control when 95% of units are sold where…
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