An Important Message from the majority of the Board of Directors at Coconut Plantation:
As promised the Board wants each and every owner to be up to date on the important issues that concerns your ownership at the Coconut Plantation (Cove).
First the Association/Board legal counsel has filed in Lee County Florida a lawsuit regarding the sale of the undeveloped property by Marriott Vacations Worldwide to the London Bay Group. The suit was filed in late July and both MVW and London Bay were served subpoenas that require a response roughly by the first of September. The basis of our suit is that MVW conveyed the property illegally without our approval and because of that the shared area responsibility still exists. As you know, because of the land sale MVW has suspended making any payments to the shared area expenses which will result in a very large deficit this year and an enormous additional burden to each and every owner in the future.
The recent destinations issue from MVW included substantial information about the hurricane Ian recovery effort and in particular emphasis on the elevators. More to come on the elevator issues and the hurricane preparedness and recovery! In prior years and issues, the Coconut Plantation Board President always included a message from your association. The board has decided to no longer contribute to the destination newsletter for a number of reasons. First, it has become too much of a corporate self serving propaganda publication. Second, several submissions by the board have been edited in an effort to make the MVW/ management company look better. Thirdly, we now have this, our own Association newsletter.
At the most recent board of directors meeting held last week, the MVW/ management company presented to the board their proposed 2024 budget. Their submission calls for a maintenance fee of just under $2500.00 per unit week which represents approximately a $800.00 increase over last year's operating budget. Last year’s budget was approximately $2000.00, however $300.00 of that was a one time special assessment for hurricane Ian recovery. As you might expect over half of the increase is due to MVW no longer contributing to the shared area expenses. Presently the board is working with our professional financial and legal teams in an effort to respond to this ridiculous budget. We will keep you posted on any new developments and we would very much like your assistance and thoughts on this matter.
Please know that the board sincerely wishes that this communication was more optimistic and upbeat. We all purchased our weeks with the goal of having an enjoyable place to take our families on vacation. Unfortunately the timeshare world has changed dramatically in the last 6-10 years, and despite all the corporate hype with new name changes, more this, and better that, not for the better! Behind all the smiling faces at the resort, which we feel are sincere, is a multinational, multi billion dollar corporation who’s corporate greed knows no limits. While the tasks are difficult, your board of directors is committed to protecting all of your owner rights and financial obligations. Once again, please do not hesitate to reach out to us with any questions or concerns you may have.
With every good wish, we remain
Your Coconut Plantation Association Board of Directors
Sent from my Pixel 7 Pro using Tapatalk
As promised the Board wants each and every owner to be up to date on the important issues that concerns your ownership at the Coconut Plantation (Cove).
First the Association/Board legal counsel has filed in Lee County Florida a lawsuit regarding the sale of the undeveloped property by Marriott Vacations Worldwide to the London Bay Group. The suit was filed in late July and both MVW and London Bay were served subpoenas that require a response roughly by the first of September. The basis of our suit is that MVW conveyed the property illegally without our approval and because of that the shared area responsibility still exists. As you know, because of the land sale MVW has suspended making any payments to the shared area expenses which will result in a very large deficit this year and an enormous additional burden to each and every owner in the future.
The recent destinations issue from MVW included substantial information about the hurricane Ian recovery effort and in particular emphasis on the elevators. More to come on the elevator issues and the hurricane preparedness and recovery! In prior years and issues, the Coconut Plantation Board President always included a message from your association. The board has decided to no longer contribute to the destination newsletter for a number of reasons. First, it has become too much of a corporate self serving propaganda publication. Second, several submissions by the board have been edited in an effort to make the MVW/ management company look better. Thirdly, we now have this, our own Association newsletter.
At the most recent board of directors meeting held last week, the MVW/ management company presented to the board their proposed 2024 budget. Their submission calls for a maintenance fee of just under $2500.00 per unit week which represents approximately a $800.00 increase over last year's operating budget. Last year’s budget was approximately $2000.00, however $300.00 of that was a one time special assessment for hurricane Ian recovery. As you might expect over half of the increase is due to MVW no longer contributing to the shared area expenses. Presently the board is working with our professional financial and legal teams in an effort to respond to this ridiculous budget. We will keep you posted on any new developments and we would very much like your assistance and thoughts on this matter.
Please know that the board sincerely wishes that this communication was more optimistic and upbeat. We all purchased our weeks with the goal of having an enjoyable place to take our families on vacation. Unfortunately the timeshare world has changed dramatically in the last 6-10 years, and despite all the corporate hype with new name changes, more this, and better that, not for the better! Behind all the smiling faces at the resort, which we feel are sincere, is a multinational, multi billion dollar corporation who’s corporate greed knows no limits. While the tasks are difficult, your board of directors is committed to protecting all of your owner rights and financial obligations. Once again, please do not hesitate to reach out to us with any questions or concerns you may have.
With every good wish, we remain
Your Coconut Plantation Association Board of Directors
Sent from my Pixel 7 Pro using Tapatalk
