Lafrance Lofts

Key facts from Lafrance Lofts's documents

Reflects the 2004 governing documents — figures and rules are as originally recorded and may have changed since.

Legal name

LaFrance Street Lofts Condominium Association, Inc. (Section 2(e))

Developer / declarant

Community Loft Builders, Inc., a Georgia corporation (Preamble (page 332); Section 2(m))

Governing law

Georgia Condominium Act, O.C.G.A. § 44-3-70 et seq. (1991 and Supp. 2001) (Article 1. Name (page 1); Section 2. Def)

Assessments & dues

Board prepares budget at least 21 days before annual meeting; budget effective unless disapproved by majority of total vote (Section 10(d))

Collections & liens

Assessments become a lien on the Unit; can suspend utilities after judgment over $750 (Section 10(b) and (c)(iv))

Reserves & fees

Board shall annually prepare capital reserve budget and set required contribution (Section 10(f). Capital Reserve Budget an)

Pets

Yes, with restrictions (Section 14(g))

Leasing & rentals

Addressed in Section 15 (full text not provided); leasing is permitted subject to restrictions (Table of Contents and Section 15)

Parking & vehicles

At least one assigned parking space per Unit as Limited Common Element; vehicles only in designated lined spaces (Section 14(h))

Architectural approval

Yes, for exterior changes, encroachments, etc. (Section 13(a) and (b))

Home business

Ancillary business activities allowed with conditions: not detectable, no excessive traffic, legal, etc. (Section 14(a)(i)-(vii))

Maintenance

Association responsible (roofs are Common Elements) (Section 5. COMMON ELEMENTS)

Insurance

Deductible may be apportioned; for required insurance, no owner assigned more than $1,000 per occurrence (Section 11(i): 'no Owner shall be assign)

Use restrictions

Each Unit shall be used for residential purposes only (Section 14(a))

Voting & meetings

One equally weighted vote per Unit (Section 7: 'entitled to one (1) equally )

Amenities

Swimming pool, fitness facility, community room, mail kiosks, limited access gated entry system (Section 5. COMMON ELEMENTS)

Extracted from the recorded governing documents and cited to them; may be incomplete and is not legal advice — verify against the official documents below.