What is required for disclosures?

[Kevin Cole]

I am likely moving towards selling a unit of mine. The unit is part of a condo association for which we pay fees. I am on the board of the condo association, so I have been privy to discussions of upcoming work the association would like to do. In preparation of this work, we have voted on a special assessment for 2025 and 2026 to raise our reserves. Those special assessments will not be enough, and the reality is the association will likely be taking debt to approach these projects (eg. paving the parking lot, residing a building) and that financial burden would be on the owners and the association. 

My question is this: Do I need to disclose the associations intent to approach these larger projects in the next 2-5 years? I would certainly disclose the currently approved special assessments, but since any further financial obligations and project plans have not been voted on by the membership, approved in a budget, or secured in a loan; must I disclose the knowledge that the board is trending in that direction?

[Corby Goade]

Quote from @Kevin Cole:

@Corby Goade Because nothing is official. A member of the association who is not on the board would probably not even know if they were selling. I wouldn't want to scare a buyer away because of some capital improvements that haven't even been voted on yet. A new owner would get to be a part of that vote. 

 You have material information that effects the desirability and value of the property. My opinion doesn't change, this could be a very expensive ommission.