Kudos to Illinois state lawmakers for passing the Community Association Manager Licensing and Disciplinary Act. According to a summary prepared by Kovitz Shifrin Nesbit, “While the Act is effective July 1, 2010, the licensing requirement will not be effective until 12 months after adoption of the rules providing for licensure. The rules have not been adopted, and that could take a year itself.”
My short time here at 2000 St. Regis is case study enough to know that such regulation is necessary. I’m reminded of the meetings where impassioned homeowners told the board and Vista that they could not afford the $1.2 million assessment, and that another construction plan needed to be considered. Vista’s Jennifer Ranieri told the owners if they didn’t have the money then to withdraw it from their retirement funds, get a home equity loan, or borrow it from family and friends.
Perhaps Ms. Ranieri would not have been so casual about people’s homes and financial struggles, would not have been so married to the singular construction plan, had her livelihood depended on the high standards state oversight would ensure.
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