Board Meeting Tonight & Fox Management Group Defaults, OWES OVER $23,000! (#571)

There's a Board meeting tonite, off-site, of course.
The main thing is the Board voting to raise assessments yet again...

Considering that one unit is in foreclosure, two others appear to be near foreclosure, assessment delinquencies (including Board members) range from 2 to 6 units per month, would it be fiscally-responsible and prudent for the business analyst and financial aid manager on the board to increase assessments on people who can't afford them?
Or, instead:
1) Raise the rent of the existing tenant of the '58 Basement space (aka fellow Board member / art therapist Eddie Foss) to minimize the assessment increase.
2) Take the standing offer to rent the space to M, who can afford a higher rent of $150 (Fifteen times what Eddie is paying), again to minimize (or eliminate) the assessment increase.
or
3) Let Eddie keep the front space, and rent the back space to M at an equivalent rent to what Eddie is paying for the front room.
Note: that by raising Eddie's rent, you can charge more for the back room!
So, if Eddie pays $150, M would pay $150, and the condo makes $300 a month, eliminating altogether the need for an assessment increase!

The wise business analyst and financial aid manager would take one of the three courses suggested.

However, business analyst Carol Krengelis and financial aid manager Diego Arce will probably unwisely choose option #4), increasing assessments, and leaving Eddie's rent at the same level it was in 2001...$10 per month! (Can you name ANY landlord that hasn't raised a tenant's rent since 2001?)

Keep in mind that as this info has been printed out and given to all the non-Board (and their friends) units in both buildings, your decision will be watched carefully, and with the knowledge that you turned down an option that would have prevented further financial hardship upon the other unit owners.

Prove me wrong, I dare you...
B

Mara e-mailed back...

There is a meeting tonight, 7:00 at BWL.
Please have M or you attend the meeting and present your proposal

I responded...

Due to the inaccessibility of the meeting site, neither M nor I can attend.
The info is both in the e-mail and her previously-presented proposal, which you should have on file.

Wednesday's total for Fox Management Group's still-unpaid bill from July, 2008 (two years ago!)...$23,457.05 from an original $75!They've broken the $21,000 level!
Now that the 1% per workday cumulative late fee is over $230, it's really mounting up, at a rate of $1150+ a week! That's more than fourteen times the amount they originally owed!
It's over 500 (FIVE HUNDRED) late charges, and now the amount (with late fees) is over 190 times the original bill...
Is that just pitiful, or what?
I hope for her sake that Mara's better with her library books and DVD rentals! ;-)