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Re: Resort Reconstruction Status? (by Gloria M.):

On 5/31/07 the writer/owner attended the Board Meeting held in the LaQuinta Hotel. Many issues were discussed. The lawsuit - has been filed with a new Sarasota legal firm - according to the board the suit should be heard 2-3 years from now. Makes me wonder why? The fire was 5 yrs ago. Check out the Florida Statute of Limitations below.

http://www.expertlaw.com/library/limitations_by_state/Florida.html

The Front Desk/Gift Shop - Dave Sanjay & Betty - no longer work there. A very knowledgeable lady - Donna -now mans the front desk. Computer access is available as well. Our new Manager Ed O'Connor - former Board President.

When the original Insurance Company refused to pay for reconstruction - ordered by Lee County and Fort Meyers Beach City Government - the Board, as we understand it - had to float a bond to begin construction. Where was our reserves was asked? They explained, since no bank or money institution would loan us money - under these circumstances, the Board was compelled to float a bond issue with very high interest. By October 15th, 2007 the owners must come up with $700,000 in interest. An additional access fee was discussed - to cover this loan's interest. It was presented that perhaps this fee would have to be instituted each year until the "loan" is paid off. Needless to say, the owners who attended were very angry. Like ourselves - they paid one access fee to "get it started" some years back after the fire, plus our maintenance fee one year. The following years - pending the rebuilding - we paid the annual maintenance fee per week - for apartments (we have three red weeks) which we cannot "trade" or utilize because there is nothing to trade. Somehow we were never awarded - as owners- a "free" vacation in vacant apartments or apartments owned by the Association. That is in our by-laws - however, this issue is under consideration for deletion as being unfair. To whom?

The plus side of this resort - which we have owned for 21 years - it is a family resort - with the same owners for many years. We have raised our children and grandchildren in this resort. All the owners are like family. Our apartments, when available, are well stocked and the property well cared for. Surrounding our beautiful pool and hot tub, we have umbrella tables, chairs and chaise lounges. In addition, we have gas grills,Tiki Huts, and outdoor picnic tables for our use. We also have a screened in outdoor room for family picnics. Our three weeks - 29,30,and 31 - on Friday before check out - we have two owner chefs who with all the teenagers - go crabbing and fishing all week and on Friday prepare a crab and spagetti dinner which all are invited. The resort management themselves have ice cream day, hot dog day, morning coffee and donuts. Competative games for the adults and teenagers as well. Our recreation room is large and well equipped with TV- stove, sink, refrigerator. and ping pong tables. On both sides of the resort- there are washers & dryers - free for our use. Also ice machines. .

This resort has many European visitors who come from year to year. We have German teenagers whose parents send them here every year - because they know their youngsters are safe with us. Their children are part of our resort family. We also have families from Genoa Italy who come every year for the same reason. They are owners - but during this catastrophe - have been renting for a fee.

Currently there are 18% VRI owned apartments, which will be auctioned off - to the highest bidder. If and when the discussed access fee becomes a reality - we are sure there will be many more on the market at reasonable prices. The Court case could go either way. We are advised by the Board not to rely on winning as a possible solution to our problems. "It could go either way" - However, if we win, we wonder what chunk this Law firm will charge us. Usually it is 1/3 of the settlement. Many owners question why this law suit was not filled immediately and why the Board procrastinated. We never really received any reliable information or updates.

As for us, we will try to hang in there and hope that all of our friends will hang in there with us.

The present status of the construction - The building is up - the new elevator is there - if all goes well - hurricanes notwithstanding - the Board advises that possibly owners might have access late August /early September. Construction crew advises all is going along smoothly.

We hope this answers some of your questions.

Eugene & Gloria Merrill Lauderhill, FL