Thanks to changes in the IL Condo Act, board members can approve a loan to the associaiton for large capital repair projects without the need for an owner vote.

If your association has been putting off major projects because you don't have the funds to cover the expense, and you are concerned about issuing a large Special Assessment to owners at this time, a loan may be an option for you.

This is an option that is available even to small condo buildings, provided you have your documentation and finances in order. If you'd like to explore this option and are unsure of where to start, HausFS is available to help you navigate the process. Big projects, when not addressed, only cost more as time goes by!

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