March 21, 2024 Meeting Report
- DEVELOPER NEGOTIATIONS - An update was provided on the Developer Communications.
Dick Burke is still waiting for a complete response from the Developer from his
3/15/24 and 3/20/24 emails, relating to the subject of "Getting the Pools Opened".
- PARKING - We learned that the Board Treasurer Bonnie Laslo posted an update
on her Facebook Group page, that the lease on the lot adjacent to DBR has been
extended until September. No other notice for this important update was provided
to all owners. The specific date in September is unknown at this time, so an email
is being sent to Patrick O'Donnell (Board President) to inquire about the actual
date for the extension to expire. This will tell us how much time we have to gain
an alternative to parking in the lot.
- GARAGE - No cosmetic repairs have been made yet to the Garage by the Developer.
These repairs are required to be made before the next Magistrate Hearing, which
is scheduled for 4/9/24. It is a possibility that the Developer may be "linking"
the need to have structural repairs made in conjunction with the court ordered
cosmetic repairs, and use the Mediation as an excuse for waiting to make
the repairs.
It was noted in the meeting that the Easement Agreement, doesn't mention the Garage,
which may be one of the reasons that the arbitration for the garage, requires the
Developer to make any repairs. This should also be considered in a future Legal
Advisory Group/Committee Workshop, for what our rights are to use the garage.
- SEAWALL - Some safety fencing has been installed, but no sand trap bags,
which are required by the magistrate to be installed before the next hearing
scheduled for 4/9/24. It has been determined that the Developer still has not
applied for the necessary permits with the City of Daytona Beach for the
placement of sandbags or the repairs. It is a possibility that the Developer
may be delaying to pay for the permit and for the sandbags to be installed,
using the Mediation as an excuse for waiting to get these things done.
Any more delays in getting the sandbags installed, could cause even more damage
to the pool decks and the tiki bar, so it is imperative that owners are ready to
be properly and strategically defended at the 4/9/24 hearing, to be able to get
the required permits and the sandbags installed ASAP.
It was also brought up that the board had previously required owners to quickly
pay a large assessment to pay for the fencing, sandbags and seawall repairs and
sandbags, before it was determined that the developer is responsible for paying
for these things. And that approximately $10,000 was moved from the assessment
account to pay for the sandbags and that a deposit was placed with the
contractor to get the sandbags installed, while we wait for the Developer to
sign the permit (which he still has not done).
Patrick O'Donnell has yet to provide answers to owners for how much of a
deposit was made and if the funds are refundable, or did we (carelessly)
sign a contract that made the deposit non refundable?
- ASSESSMENT FUNDS - A point was made, for how the $2,000,000 placed
in the Assessments bank account, had been drawing a VERY low rate of
interest. It was reported that the funds have been recently moved to
provide a slightly better yield, but there are other Commercial Money
Market accounts and short term CDs, where the money could have been
placed. The result is that the owners have lost thousands of dollars
in unearned interest.
The board voted recently to reallocate $1,000,000 to pay for the elevator
repairs, apparently because these funds won't be needed to pay for the
seawall repairs, based on the magistrates ruling. So that leaves owners
with close to $1,000,000 in funds collected, that can be refunded to owners
or used for another purpose, which has not yet been identified.
- MEDIATION HEARING - Although no notice was given by the Board to
all owners, a Mediation Hearing is scheduled for Thursday, 3/28/24
in Fort Lauderdale. This hearing will be closed to all but a few board
members and our attorneys. The Board has not provided any information
for what will be discussed at this hearing, but it is believed that
the purchase of some or all of the resort will be discussed. Furthermore,
no owners have been consulted or communicated with about this mediation.
- ELECTION - The upcoming election for the COA's Board of Directors is
scheduled for 5/4/24. Owners will be able to vote electronically or
in person. The deadline for candidates to file with Tomoka has been
given as no later than 3/31/24, but it is recommended that candidates
file before 3/28/24 and may consider filing using certified or
registered mail, to have proof that they filed on time. Owners will
not know the names of the candidates, until Tomoka sends out the notices
sometime in April.
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