"The lawsuit alleges that the property owner and the management board, among others listed, had a breach of fiduciary duty by misusing Vietnam Town member fees "without the consent" rather than using the funds for structural repairs at Vietnam Town. Nguyen said that Vietnam Town tenants pay monthly homeowners association fees that range from about $400 to $500, depending on the square footage of a space, with each space considered a condo unit at the plaza."
"Among the complaints business owners have at Vietnam Town is that the 550-space parking garage closed following a 2023 inspection. The inspection found its elevators were defective. Parking limitations were already an issue at Vietnam Town, which has 256 commercial condo spaces, and that was further impacted when a Tesla supercharging station opened and snagged an additional 20 spaces. (The parking issue was first reported by the San Jose Spotlight.) Equipment from an ongoing construction project has likewise reduced parking spots."
Pho Ha Noi owner Harry Nguyen reported a sharp drop in customers and attributed a $500,000 year-to-year revenue loss to neglect by Vietnam Town property owners. Business owners at Vietnam Town filed a complaint in Santa Clara County Superior Court against Vietnam Town Property LLC and the Vietnam Town Condominium Owners Association alleging breach of fiduciary duty and misuse of member fees without consent instead of funding structural repairs. Tenants pay monthly homeowners association fees of about $400–$500 depending on space. A 2023 inspection closed a 550-space parking garage after finding defective elevators. Parking shortages worsened after a Tesla supercharger and construction equipment reduced available spots. An ongoing construction project has been delayed by weather and additional repairs and is expected to be completed by January.
Read at SFGATE
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