Hollywood Condo Owners Successfully Overturn $56 Million Special Assessment

Hollywood, FL – Residents of the Summit Towers Condominiums have successfully overturned a controversial $56 million special assessment, thanks to collective action, legal support, and media attention.

Concerns Over a Multi-Million Dollar Assessment

Back in December, condo owners at Summit Towers were shocked when they were informed of a massive proposed special assessment, despite their building having recently completed and passed its 40-year recertification.

“$56 million? What is that supposed to mean?” questioned Lester Berrios, a concerned condo owner, in an interview with NBC6. Residents were confused about the necessity of such a large sum, fearing they were being forced into costly projects beyond essential structural repairs.

Even State Sen. Jason Pizzo (D-Hollywood) acknowledged seeing similar cases where condo boards pushed for expensive projects that extended beyond what was structurally required.

Residents Take Action, Overhaul Condo Board

Initially, the condo board defended its decision, stating that the repairs were based on professional guidance. However, following NBC6’s coverage, condo owners mobilized, organized votes, and elected new board members—including a new board president, Bill Knickerbocker.

The impact was immediate

“Due to the fact that Channel 6 came in, we had an attorney involved, and senators stepped in, that stopped the special assessment for $56 million,” Berrios said.

How Residents Stopped the Assessment

The proposed assessment would have doubled the cost of living for many condo owners, adding between $1,000 and $1,500 per month per unit. For retirees and residents on fixed incomes, this increase was unsustainable.

Knickerbocker explained that the loan the association planned to take out for the assessment effectively placed a mortgage on owners’ homes, putting them at risk of foreclosure if they couldn’t pay.

Since the bank required no pending litigation to approve the loan, the threat of legal action led the bank to withdraw its loan offer, effectively killing the special assessment.

A Victory for Condo Owners Everywhere

Berrios hopes their experience inspires other condo owners to stand up against unjustified assessments.

“You’ve got to get involved in your community,” he urged. “Had these people not knocked at my door, I would not have known that we had such a massive assessment coming our way.”

This case highlights the power of collective action, legal intervention, and media awareness in ensuring that condo boards act in the best interests of their residents.