icon on The Illinois Condominium Property Act (ICPA) generally gives boards the power to adopt special assessments without a unit owner vote. However, the process is subject to specific limitations and potential owner veto rights, particularly if the special assessment would increase the annual fees by more than 15%.
The 21-Day Veto Window: For regular special assessments that trigger the 15% threshold, unit owners representing at least 20% of the total votes can petition for a meeting to vote on overturning the assessment. Boards must give specific notice of the meeting, and if a majority of owners vote to reject it, the assessment is overturned. This veto right does not apply to assessments for emergencies or for legally mandated repairs.
Special vs. Capital Assessments: Special assessments for additions or alterations (capital improvements) require approval from two-thirds of the total unit owners, regardless of cost. This differs from assessments for standard maintenance and repairs, which have the veto procedure.
Legal Best Practices: To avoid disputes, the board should clearly document the assessment's purpose, payment options, and legal basis in a detailed resolution. The association's attorney should be consulted to ensure compliance with the ICPA and the association's governing documents.
Not sure whether your project requires a special assessment, owner approval, or falls within an exception? Contact our real estate team discuss your best solution.