Village at Grassmere Residents Hit With Special Assessment and Increased HOA Fees
Residents of The Village at Grassmere were asked this month to kick in additional money to the HOA account in order to replenish the funds that former developer/manager Stewart Heath allegedly stole or otherwise fraudulently squandered.
Is Tennessee Bank and Trust kicking in their fair share of the HOA dues???
Stewart Heath was allowed per the by-laws not to pay the monthly HOA fees for each unit he owned. TNB&T is different. They decided that they were not the “developer” so to speak and were simply investors in the rest of the units. This means that according to Grassmere by-laws, TNB&T is required to contribute equal amounts for each of the 38 units they own. It would seem that the increased dues would not be necessary if these contributions were being made.