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Cory Lake Isles Emergency Meeting
Posted Jul 23, 2008 by Northeast News Staff
Updated Jul 23, 2008 at 06:25 PM
CORY LAKE ISLES—The community development district board headed by developer Gene Thomason has called an emergency meeting for Thursday at 9 a.m. to add money to the budget to pay for “extraoridnary litigation expenses.”
The proposed budget already would raise homeowners’ fees around $600 next year. The legal costs would be in excess of that figure.
Twenty homeowners have sued Thomason, his family, his companies and two other CDD members who also serve on the property owners’ association board. They have accused Thomason of using homeowners’ assessments to pay for personal expenses and to subsidize his other busineeses. The CDD is not a party to the lawsuit.
Mark Basurto, lawyer for the plaintiffs, said it’s his understanding that Thomason has demanded indemnification from the district, which means it could be liable to pay for any of his losses or legal costs and would hold him and his company harmless.
“There is a definate conflict of interest,” Basurto said. “I don’t believe there would be a basis for the developer to seek indemnification from the CDD, which the developer chairs, for fraud committed by the developer.”
CDD lawyer Mark Straley did not return phone calls. Thomason declined comment.
Dan Morford, one of the plaintiffs who also is running against CDD Supervisor Suzanne Manzi, said that board members could insert the line item and homeowners would “have no way to fight it.”
Added Basurto, “They’re trying to turn the community against us, and at the end of the day, it’s not going to work.”
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