Here's what we hear from owners, contractors, legal and financial experts:

The project misallocates our money, destroying value and lifestyle

• •$52,000 upgrading my kitchen gets me value, putting glass railings all over the complex does not;
• •17% decline in Sea Colony 2 prices (compared to an overall rise in 90405 zip code) as owners seek to escape before the destruction and construction gets underway;
• •We value our lifestyle more than current sales prices, but our lifestyle will be a construction zone not a resort.

As our home prices and lifestyle decline dramatically, project costs will rise

• •Contractor's 2-year estimate likely means 4-5 years;
• •Prior projects (roof, elevators, etc.) which were much less complicated also took twice as long as estimated;
• •This work is directly where we live – in front of our doors, walkways, above and below us – it's everywhere and far worse than any work we have experienced;
• •People will not want to buy or live here.

With declining home values and lifestyle, defaults on the HOA loan will increase

• •Defaults will rise particularly among folks who need to borrow to pay the assessment. Those defaults could cost $20,000 or more in additional assessments if expected borrowers cannot repay the loan.
• •The board has continued to hide that on foreclosure of borrowers who cannot pay, the HOA will not be able to recover the loan: the HOA's own CCRs make clear that mortgage holders collect first; there'll be nothing left to pay back the HOA loan.

It will all be worth it when it's over – NO IT WON'T

We should all live to 120 years old, but we won't. Recently, 3 of 5 immediate neighbors passed away. Some of us may be luckier.

Years from now, when the toxic debris, drilling, sawing, scaffolding, flapping of plastic coverings and endless explanations why the contractor needs more money requiring additional assessments wind down, those of us still here will ask:

"Who needed this aggravation?"