For Project: A002628/001 - RENAISANCE LOFTS
Rejected for the following: 1) Explanation needed addressing the 2015 Income and Expense statement and the funding of reserves at below the required 10%.
2. Current (within last 2 years) reserve study required as current reserve account ($5,663.72) is considered to be underfunded to meet current/future capital expenditures and deferred maintenance. The reserve study is needed to help us better assess the financial stability of the project.