Here is a transcript of the letter from the board president of the resort that the Original Poster is referring to, stating they will be closing:
LETTER FROM THE PRESIDENT
OF THE BOARD OF DIRECTORS
To all homeowners:
As you all know, for months now the Board of Directors (“BOD”) and the resort manager have been investigating the scope and extent of the concrete problem discovered during the efforts to replace the railing. During our quarterly BOD’s meeting held on the 23rd and 24th of February we heard from contractors, engineers and consultants. This was in addition to over 20 concerned homeowners who were present, one of whom is a licensed architect. It became apparent the most effective way to deal with this issue would be to shut the resort down completely to allow the cement contractor to mobilize a large crew. Naturally, closing the resort will impact a large number of homeowners. So we looked at ways of minimizing the financial impact first. We asked our legal counsel to appear at the meeting to discuss any creative ways to solve this issue. Among the options offered by the board and the homeowners who were present, we discussed: 1). Abating the operating portion of the maintenance fees for those affected, 2). A special assessment to be paid by those not affected to cover the loss of revenue, and 3). A special assessment to be paid by all homeowners to cover this loss. The Florida Condominium Act along with our condominium documents do not allow the association to forgive the maintenance fees or to specially assess all or some of the homeowners to make up for the loss of revenue. The outcome of this discussion may have been entirely different if the resort damages were the result of a hurricane, fire loss or some other insurable event.
Consequently, the board of directors with the support of the resort manager and in the exercise of our collective judgement, have made the difficult decision to close the resort effective with the start of week 36 for a period of 12 weeks. This was a unanimous decision that was not taken lightly. It is our hope the contractors will not need the full 12 weeks to complete the project. We are fully aware of the impact of this very difficult decision. In the “for what it is worth category”, I will lose 5 weeks rent and will be paying 5 weeks of maintenance fees during this shut down.
Tom Heath will be speaking with Resort International (RCI) and Interval International to see if there is a way to provide affected home owners with exchange week options through their respective companies.
I anticipate a number of emails and other contact expressing dismay, anger etc. and it will likely prove difficult to respond to each and every message. We are open to creative and positive discussions about the financial impact of this decision, however knowing our legal limitations, we have not yet found one.
Thomas M. DeAgostino
President Limetree BOD
.
