Your governing documents will determine how special assessments can be enacted.
The two choices, as you know, are to increase the dues permanently or have a temporary increase to rebuild the treasury. Somehow, home owners have to re-stock the kitty.
I suppose if the condo has property to sell, they could do that - maybe, rent out guest parking spaces or something like that. But, for the most part, the Board has a legal responsibility to balance the budget, and if you've spent more than you've budgeted for, you've got to make it up some way.... more