What options does our condo board have for funding emergency repairs?
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Q. I am on the Board of a 13 unit condo building with not the best financial situation. Unfortunately, we just encountered a $10,000 sewer problem and we don't have sufficient funds to cover it.

It's most likely due to city's laying new sewer pipes, and maybe after connecting to the main sewer one of the ceramic tiles broke.

Our monthly dues are about $300 per month, and we are running 2.5-year special assessment for roof and heating system repairs. Prior to that, we had another 10 months special assessment for a parapet wall.

The contractor isn't offering financing and we already have a special assessment. My colleagues on the board question the cost but do not propose solutions, and the management company we work with has been of little help. I am waiting for a second estimate at the moment, but I know we gotta act quick - make a down payment, pay city permits, etc. all while backed-up water is starting to flood the basement. What other options do we have in order to pay for this project?

A. Unexpected maintenance projects can certainly be stressful for a small association, particularly when reserves are not sufficient to cover the expense. When it comes to funding projects the bottom line, however, is that

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