Celebrity Brigantine Info

[Jennie]

The following has been posted at the Brigantine Yahoo Group.

Is this a typical scenerio or is it as outrageous as it seems on the surface?

Mike wrote:
I received my 2007 Maintenance Fees statement. $638.18 for a one
Bedroom, 467.36 for a studio. At first I thought it was a special
assessment (But no, it is just the basic annual maintenance fee bill. The fees have just about doubled over the past 7 years).

Celebrity has hit two resorts in Florida with Special Assessments:
Celebrity Indian Shores with a $997 assessment and Celebrity Resort
Palm Coast with a $869.61 assessment.


Looking at the Brigantine annual budget for 2007, three things pop out;

1. Bad debt $328,438 assessed for a one bedroom or $111.03 per unit
week, and $140,985 for a studio or 81.31 per unit week.
Total bad debt $469,423, almost half a million dollars in uncollected Maintenance Fees!

As of 12/31/05 the "Developer" owned 750 unit weeks and owed
the "Association" $312,966.

2. Management Fees $342,553

3. Owner services and Central Reservations: $105,570. Are they
charging us $105,570 to confirm the use our week? Are we paying for
a Reservation System for them to rent out their unsold weeks?

There are 92 units consiting (their spelling, not mine) of 4692
interval weeks.