The Real Deal Miami

Assessment controversy becomes key issue in Belle Isle condo board election

March 03, 2011 03:43PM

Belle Isle’s largest condominium is gearing up for its board election next week, and the recent approval of a $3.5 million assessment to pay for repairs of the building’s pool deck is taking center stage in the campaign. Many of the 274 owners at the Nine Island Avenue condo worry that the planned eight-month payment period is too short, meaning that unit owners will have to pay too much too quickly. Installments under the current plan require payments of between $1,100 to $2,500 per month, depending on the size of the units, with penthouse owners ponying up even more at a time. Board leaders in nearby condos Costa Brava and Belle Plaza told the blog that they’d allowed residents at least two years to pay off their assessments in recent years, and said eight months would have been too difficult a time frame for their residents. At Belle Plaza, homeowners were allowed to pay their $3,500 to $10,000 tabs up front, but most paid over two years, plus interest. [Bell Isle Blog]