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Re: Important Update Affecting Resale Purchasers (by Eric M.):

Here is the response I received. I thought them getting my name wrong and then threatening me were nice touches. The numbers they attached were the exact same numbers that I said were inadequate in the original email. The fees include $15,500 "Demolition/Renovation" and $16,500 "Other/Contingency". So, fully 1/3 of the $96,200 renovation fee is included in these slush fund categories and there is little other detail. I have to assume these categories are for the money that the Vistana Spa board members and Sheraton are going to pocket. Alternately, they could be planning on giving the contracts to certain companies that will steer the excess money back to them later. Their threat to foreclose on me if I don't pay the fees may show their real intentions here: regain control of a large portion of the unit weeks on the cheap, then resell them at full retail price. Here is their email response:

Dear Erin Main,

Thank you for contacting Vistana Spa Condominium Association and expressing your concerns with us. Owner feedback is something we value and take very seriously.

The Board of Directors and Vistana Spa Condominium Association approved a refurbishment project to completely freshen the interior of the villas. Many of the changes that will take place are being planned to provide an upscale feel that you as an owner have come to expect. The design and the décor chosen will maximize living space while providing a more welcoming look. In this competitive market, we must maintain ourselves as one of the top vacation destinations in Orlando. This project will also be a great means of regaining the RCI Gold Crown rating we once had. A completely renovated villa will provide greater satisfaction and fulfillment to our guests and owners while improving the quality of your stay with us.

The Board of Directors is entrusted to ensure that each unit is maintained to offer World Class accommodations to all of our owners. In the past we have relied on the Replacement Reserves to replace items within the units. These fees were billed out over years and budgeted based on “useful life” assigned to each item within the unit. Items such as countertops, cabinets, and bathrooms were not included in the original replacement reserves. This is the first refurbishment for Vistana Spa that will utilize items not in the replacement reserves plan; however these will be included in the reserve plan going forward. A refurbishment takes into consideration the aesthetic life of the furnishings, while the replacement reserves consider the useful life.

The Board of Directors and your Association reviewed and analyzed all avenues available for a cost effective project. Using items of the highest quality will ensure a longer period of enjoyment and satisfaction for you and your family. Unfortunately the Board cannot control certain aspects of the construction process such as cost of labor, fuel, and materials. The refurbishment has been divided into 3 installments to allow owners more time to pay over a period of time; however should you require alternate arrangements please contact Association Management at 1-800-847-8262. Unfortunately failure to pay the fees may result in further collection action. Interest will be assessed based on the unpaid balance. In addition, a lien may be placed on your week which constitutes an encumbrance against title, which can be foreclosed upon.

Voting on this matter and most issues associated with the management and operations of the associations is solely at the discretion of the Vistana Spa Board of Directors, which is governed by the Articles of Incorporation and the Declaration of the Association.

This project will not only provide you with a completely renovated villa but will increase your comfort level and enjoyment at your resort. We are very pleased and excited with the changes to come. Once again, we appreciate the time you have taken to provide your feedback. We value you as an owner and we look forward to serving you in your future vacation plans for years to come.

Sincerely,

Aixa Garcia SVO Association Management