Florida agency investigating Lake County HOA as residents question missing money, deteriorating facilities

Article Courtesy of

By Lauren Melendez

Published July 7, 2026

CLERMONT – Homeowners at Legends Golf and Country Club in Clermont say they have been left asking two questions: Where is our money? and Where is our management?

After months of complaints from residents, Florida’s Department of Business and Professional Regulation (DBPR) has launched a formal investigation into the community’s homeowners association. But as the investigation continues, residents say they are still paying higher HOA dues while watching their neighborhood decline.

Residents describe dead landscaping, broken amenities, trash at the community entrance and facilities in disrepair — conditions they say don’t reflect the “premier” community they were promised.

“We’re being told that we’re getting an assessment and we don’t know where the money is,” homeowner Jennifer Rivers said.

Residents question rising fees, missing financial records

Legends Golf and Country Club, which is managed by ICON Management Services, a division of Troon, has increased HOA costs through both higher monthly dues and a special assessment.

Special assessments are an additional fee charged to homeowners by their association to cover major projects or unexpected emergencies that exceed the HOA’s regular budget and reserve funds.

Rivers said residents were first told in February that a budgeting error required homeowners to pay an additional $290 — roughly equal to one month’s HOA dues.

Weeks later, she said, the association cited damage from Central Florida’s record winter freeze and increased the assessment to $860.

Then, residents say the HOA retracted that and changed the price a third time, causing major confusion and raising red flags about how much money was needed, how record-keeping was being managed, and where their dues were being used.

At the same time, residents say they requested financial records to better understand the spending but received only partial documentation, which they stated violated Florida law.

Under Florida Statute §720.303(5), the HOA must keep financial and accounting records according to good accounting practices, which must include:

Accurate, itemized, and detailed records of all receipts and expenditures.
A current account and periodic statement for each member detailing assessments paid, due dates, and balances.
All tax returns, financial statements, financial reports, and bank statements.
All current contracts and any bids received by the association for work to be performed.

“I started going to board meetings and asking questions, and I realized that people who asked questions were attacked or shamed,” resident Kristin Shirley said.

Residents say neighborhood conditions have deteriorated

Homeowners say the financial concerns have coincided with visible declines throughout the community.

Among the issues they pointed to:

Dead trees, bushes and landscaping
Trash left at the community entrance
Fitness equipment left broken for months
Broken lights
Dried up ponds and fountains

Residents also raised concerns over the HOA’s reserve account.

According to financial documents reviewed by News 6, homeowners say the reserve fund dropped from approximately $1.5 million in early 2025 to roughly $376,000 about a year later.

“That’s $1.1 million that we don’t see a paper trail for,” one resident said.

Residents hire attorney as investigation moves forward
After repeated attempts to get answers, residents said they turned to social media to organize Facebook groups like Legends Unite to centralize information, keep the community informed, and press HOA board members for transparency.

Ultimately, around 70 households pooled additional money to hire an attorney, an effort they described as ‘frustrating and costly,’ especially given the economic turmoil and because they are supposed to be represented and supported by the HOA’s legal counsel.

“We felt we needed protection,” Shirley said, disappointed. “This is our home. This is where our children grow up.”

News 6 also repeatedly requested information via email and voicemail from Legends Golf and Country Club HOA, ICON Management, and TROON, to no avail.

State investigation underway

The Department of Business and Professional Regulation opened a formal investigation in early June before referring the matter to its Office of General Counsel, where the case remains.

News 6 is continuing to seek updates from the state on the status of the investigation.

The case also highlights a broader issue in Florida: there is no single state agency dedicated to regulating homeowners associations, a gap that can complicate oversight and enforcement when residents raise concerns about HOA operations or management.