The initial estimate cost per unit was just that, an estimate. As we have seen in the Nei costs will increase when the actual work starts, problems found, change orders. Final cost could easily have been 2-3 times as much.

At that time did each owner have the ability to cover the cost of a special assessment to pay this cost? 

Way too much armchair quarterbacking on this. And as usual, no leadership from our "Weak Link" mayor.