In terms of real estate, the Waldo Canyon fire of 2012 was the most costly fire in the history of Colorado, with hundreds of millions of dollars in insurance claims and the destruction of hundreds of homes.

For example, the Parkside subdivision in Colorado Springs saw the destruction of 141 residences (there was a total of 178), and now Parkside’s homeowners association is seeking to assess payments from residents to cover some of the damage.

There is resistance, however. Residents, including those whose homes were not burned, have been asked to pay a one-time $1,700 fee to fund the installation of drainage infrastructure and sprinklers, along with other repairs.

Complicating matters is that the HOA didn’t have property insurance, even though the association’s covenants required it to carry insurance for common-area repairs and improvements, including fire losses.   Read More……