Eagle River condo residents may pay for neighbors' quake damages
People who live at the River's Edge Condominiums in Eagle River may soon get some news they probably won't like. An attorney who represents the condos' homeowners association said dues are likely to go up for everyone there to help pay for earthquake damage, even if their condo wasn't damaged.
Nov. 30's 7.0 quake caused extensive damage, including cracks in the foundations of at least eight units that back up against a hill. Municipal inspectors said the soil liquefied during the violent shaking, which caused severe damage to the homes' foundations. Those residences have been "red-tagged," meaning it's not even safe to go inside.
Ed McClure is one of the residents who has been forced to move. He's now living in his daughter's home, which isn't accessible for the wheelchair he uses. He owns his condo and even had earthquake insurance, but his daughter, Mallory Valentine, said the insurance only covers the items inside.
"Basically the owner is responsible for the drywall in, but then the condo association is responsible from the drywall out which includes the roof, the foundation and the land out back," said Valentine. " So even though my parents had earthquake insurance, it's not going to cover the parts of this home which were absolutely just destroyed."
Shane Osowski, the attorney representing the homeowners association, said the association neither had earthquake insurance nor was it required to. He said the association's only revenue comes from condo dues, which in this case are likely to go up. He said the bill would be split among the 42 units in the complex.
Osowski said it's unclear how big that bill will be. Structural engineers are still evaluating the damage. He said the association would also apply for any government funding that could help to pay for damage.
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