From: Parker Plaza pploudspeaker@gmail.com

Subject: Project 3: Restitution of the Operation Funds Deficit.

Date: July 18, 2020 at 10:32 AM

To: bod@parkerplaza.org

DEAR BOARD

DEAR MEMBERS OF OUR ASSOCIATION

Our Initiative Group of Owners and Residents, IGOR, is organized to help our

Board and members of our Association to overcome ongoing financial irregularities.

The first IGOR project (Project 1: Property Tax Reduction) should decrease

property taxes for qualified owners. A pending resolution of the second

project (Project 2: Abolishing Collection of the 2-quarter Maintenance Deposit

for Newly Bought Apartments) is expected to return circa $800,000 from the

unused Escrow Account to more than 120 Parker Plaza condo owners who

purchased their apartments in the last five years. More importantly, the completion

of Project 2 will increase the selling price of EACH APARTMENT in our Building, on

overage of $5,000/condo.

To continue our focus in the pursuit of fiscal responsibility, IGOR is proposing a new

project - Project 3: Restitution of the Operation Funds Deficit. The main

motivation of this project is driven by the latest financial report where the Board

revealed that the current Operating Budget of our association is at a deficit of ~

$540,000 and growing more negative day by day. To address the deficit, the Board

will increase the maintenance fees on EVERY Unit in Parker Plaza. The increase in

maintenance cost per unit could be worth $1,000/year and once the cost is

increased, it never goes back.

The problem with the association’s finances can not be ignored. In fact, more than

several dozen of our neighbors are feeling the stress and anxiety that comes with

increased assessments and maintenance fees. Furthermore, with the current

economic struggle we ALL face with COVID, many of our members are out of work

and struggle to stay above water. In some cases any additional increase in

maintenance fees will put several more of our members in danger of losing their

property.

The Domino effect – Default on payments will lie on the shoulders of those who are

still regularly paying their assessments and maintenance, therefore, paving the way

for other members of our association to default and lose their properties. With that

said, ALL members of our association will suffer from any existing and future

business irregularities. 

A mismanagement of operation funds is a common problem in many

condominiums. A general recommendation for solving such problems is described

in [1] (see https://newenglandcondo.com/article/facing-financialmismanagement/full ). According to [1], if the budget deficit is caused by

bookkeeping mistakes or financial negligence, it needs to be caught before they

spiral out of control; if willful mismanagement or misappropriation of funds led to the

budget deficit, it is in the best interest of the association to root it out by using

EXHIBIT "C"

Case 0:22-cv-61638-WPD Document 21-3 Entered on FLSD Docket 11/17/2022 Page 1 of 2
budget deficit, it is in the best interest of the association to root it out by using

forensic accounting. If a proof of such mismanagement is obtained, [1]

recommends to go after insurances of officials responsible for willful

mismanagement and/or misappropriation of funds. 

To execute Project 3, IGOR began collecting voluntary donations for hiring a

professional company to perform a deep dive audit into our association's

budget. The cost of the engagement is $7,500. With the help of GOFUNDME and

cash payments, IGOR has already collected $3,100 from some Parker Plaza

association members. Now, IGOR is asking ALL members of our distinguished

association to donate (whatever each donor will choose) to get the remaining

$4,400 needed to fund the initiative. In case of success, the operation funds deficit

could be fully or significantly recompensed and, thus, there will be no need of

increasing maintenance fees for EACH APARTMENT in our Building.

Dear Owners, by donating a relatively small amount of money you can save many

thousands of dollars that you would wast in near feature on

the upcoming, poorly justified, increase of Maintenance Fees. Please make

your donations by following the instructions below.

Instruction

1.	 Click on the link 

2.	 https://gf.me/u/yf4q4z [gf.me]

3.	 Choose "DONATE" or "DONATE NOW" and put 200 or whatever amount of

money you choose.

4.	 Look below on the little window "TIP GOFUNDME SERVICES." It shows 10%

as the default number. Change on OTHER und put "0". In this case the

program will not charge you any TIPs.

5.	 Click "CONTINUE"

6.	 It will show you "PAYMENT METHOD". Fill Out the requested information.

7.	 (IF YOU WOULD LIKE TO KEEP YOUR DONATION ANONYMOUS, YOU

CAN DO IT BY CHECKING THE LITTLE SQUARE AFTER

DONATION DETAILS (OPTIONAL)

8.	 Click green button "DONATE NOW". 

9.	 You did it. Thank You Very Much!

IGOR wishes ALL owners of Parker Plaza good health and great weekend!

Disclaimer: IGOR is a group of owners, which is not directly associated with the

Board and is not representing the entire Association. Nevertheless IGOR is very

glad to share limited knowledge and personal opinion of its members regarding the

subject of interest with the entire Board and with members of our Association. While

IGOR opinion cannot be 100% accurate, IGOR believes that its achievements,

while working on its projects, will help the Board and the ordinary members of our

association to overcome current financial difficulties.

Case 0:22-cv-61638-WPD Document 21-3 Entered on FLSD Docket 11/17/2022 Page 2 of 2