Send us a textHow one HOA Board managed a $2M Special Assessment with strategy, transparency, and teamwork.✅ Is a Reserve Study right for you? 👉 https://www.reservestudy.com/A small 18-unit HOA faced a $2 million special assessment that could have divided the community. Instead, their HOA Board turned it into a story of planning, transparency, and perseverance. Terri Rene and her team tackled severe exterior damage, owner resistance, and financing challenges while keeping their community united. This episode breaks down the real steps they took: assessing damage, budgeting under pressure, preparing for non-payment risks, and maintaining communication at every stage. Chapters00:00 How did this HOA Board handle a massive special assessment?01:13 Who is Terri Rene and what makes her an HOA Board Hero?05:11 How did the $2M special assessment come about?07:28 What compromises did owners make to fund this project?09:17 How did the Board plan for non-paying owners?11:18 What led to the need for such a large assessment?13:05 What did early inspections reveal about structural damage?15:01 How did board turnover impact project leadership?16:39 How did communication rebuild owner trust and support?20:44 What strategies helped the special assessment finally pass?22:49 Ad Break - Association Reserves 23:21 How did the HOA manage budgeting and owner voting?25:50 What steps were taken to prepare for construction?27:24 Was the project on budget and on schedule?30:11 How will this project impact home values and the reserve fund?32:59 What lessons can other HOA boards learn from this experience?The views & opinions expressed in this program are those of the Hosts & Guests, intended to provide general education about the community association industry. The content is not intended to provide specific advice or recommendations for any individual or organization.  Please seek advice from licensed professionals.Podcast Links:Full Episode ListWatch On YoutubeEngage in the conversation! Call our 24/7 voicemail line at (805) 203-3130 or send an email or voice memo to [email protected] yourself or a Board Hero you Know!Board Hero NominationsBoardmember Merch Store!Connect with Hosts on LinkedInJulie AdamenKevin Davis, CIRMSRobert Nordlund, PESupport Our SponsorsAssociation Insights & MarketplaceAssociation ReservesCommunity FinancialsKevin Davis Insurance ServicesStokelight Video & MarketingThe Inspectors of Election

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