LAS VEGAS, Nev. (FOX5) – They were told by the City of Henderson they had two weeks to fix their broken pipes or 85 families would have to leave their townhomes. Then the city agreed to step in and make the necessary repairs at Somerset Park Townhomes.
As those repairs are now underway, for the first time we are hearing from the new HOA management company that stepped in after the last one disappeared taking the community’s money with them.
FOX5 spoke with one homeowner Thursday night who said residents don’t yet know total cost, just estimate from the city, anywhere from $600,000 to $1.2 million to replace the pipes. They don’t know what their individual portion of the bill will be. She is glad that for the first time in years the problems in the community are finally being fixed.
Currently, parking areas are blocked off with no parking signs and heavy equipment. Areas once filled with water are currently covered in sand but water still leaking and running into the street. Residents say some leaks have been repaired since work by the City of Henderson started including fixing a sinkhole that swallowed part of a car.
“We have been working to really get the association on track,” contended Mozell Williams, Vice-President of Association Services for CAMCO. Williams works directly with Somerset Park.
“The previous management company had closed their doors and when we took on the account, we got very little to almost no paperwork, financial paperwork,” Williams recounted.
Williams reported when CAMCO took over, there was only $25,000 in the community account and they owed $300,000.
“They should have $800,000 to $1,000,000 saved up,” Williams explained.
With faulty pipes constantly leaking for years, the average water bill for the community: $20,000 to $30,000 a month.
“That is almost three to four times more than most associations this size,” Williams reported.
Recognizing the finical crisis, CAMCO stopped landscaping and closed the pool trying to cut costs.
“Yes, it is unfair, we know it is unfair. The residents are not at fault,” Williams stated. CAMCO plans to restore those services once the bills are back on track. They say what is happening at Somerset Park could happen to other HOA’s in the Vegas Valley in the future that were also managed by the same prior management company that disappeared.
“I have talked to other management companies that have taken on accounts from that previous management company, and we are all in the same boat. We all have the same issues. So, there might be more unfortunately,” Williams revealed.
CAMCO shared with FOX5 work is moving smoothly and should be done in a couple weeks. They are working with the Nevada Real Estate Division to try and provide as much information about the last management company that abruptly closed, leaving the Somerset Park HOA with hundreds of thousands of dollars in missing funds.
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