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On 2/28/2015 3:19 PM, Gilbert Wilson wrote:
> The management company created significant and unnecessary debts.

There's plenty of people to blame there, but AH (Association
Headquarters, the management company) bears next to none of it.

Without re-hashing an entire decade-old melodrama, suffice to say,
LOPSA thought they were going to have a LOT more money than they
actually had, and committed to a MUCH "higher-touch" service level
than their revised finances could afford.

AH, to their credit, worked with LOPSA to:
- - waive some of the debt
- - let LOPSA out of the contract penalty-free
- - held LOPSA's debt without charging interest and fees they were
entitled to

I'm not personally wading into the "should we or shouldn't we" of
having an ED today. I'm simply saying the management company didn't
create those debts. LOPSA did, with assistance from another large
un-named non-profit org.

D


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