Original Message:
2013 Special Assessment For Hollywood Beach Tower Owners. (by Jane P.):
Please call Kevin and Jane at 607-648-9380 to see how to get out of this mess...Thank you
felixi4 wrote:July 1, 2013just received snail mail today, explaining the need for a special meeting of the HOA on July 11, 2013 to discuss and adopt a special assessment for each unit week in the amount of $1,782.09 spread over three years. The purpose of the special assessment is to cover the complete renovation of the units and lobbies at a total cost of $5,798,745.27. The resort has 92 units per week available for owners. One week is set aside each year for unit interior maintenance. This means that 4,692 unit weeks are available for owner use. If all unit weeks paid the special assessment $8,361,566.28 would be received by the HOA. This is $2,562,821.01 more than the needed amount.
Talked to the manager today after receiving mail. I asked for the addresses of the Board of Directors and was told to send any comments to them by mail to the resort. I have met the President but I have no other information on other board members. As of today there are 1,563 units that are delinquent in paying maintenance fees for 2013, 66 units are in foreclosure, and 15 units are owned by the HOA.
I own three units at the resort. I liked the units as they are now. They reminded me of the art deco buildings in South Beach. I feel that the Board of Directors are being lead down the wrong path by SPM Resorts (Hollywood Beach Tower's Present Management). SPM Resorts changes 35% to rent units for owners. SPM Resorts has a lot to gain with the owners paying for the cost of these upgrades. The owners will never get their money back in their lifetime. SPM Resorts will make money when they rent the first unit.
If you feel the same as I do, email me and we will discuss how we can attack this problem.