------Draft of Assessment Letter--------amount will not change
This is for FYI only --- The official letter will be mailed. You should also receive another breakout as well as this letter to help with insurance coverage......
We have received most of the invoices for our Katrina repairs. Since only a small portion of these expenses will be covered by our insurance policy, the Board of Directors has voted to assess the membership $4333.06 per unit for the one bedroom units and $6241.10 per unit for the two bedroom units.
Our building didn’t fare well during the storm. This resulted in some damage to our outside walls and first floor area and a few of the units had some major water damage to the interiors from wind driven rain. The following is a summary of our Katrina expenses:
Wind Policy Deductible $112,695.00
Flood Deductible 500.00
Sand & Debris Removal, Site Work 10,000.00
Curbing 5,000.00
Parking stops 2,500.00
Interior Repair & Drying units (Wind driven rain damage) 17,085.00
Fencing pool deck 11,784.00
Stairwell hand rail repairs 385.00
Pool equipment - Heater & Repair 6,500.00
Painting Stairwell & Unit Doors 3,400.00
Landscaping 18,302.00
Gene's Floor Covering, Inc. - Carpet (Wind driven rain damage) 2,500.00
Gene's Floor Covering, Inc. - Lobby & Restroom tile 2,500.00
Sign - Estimate Only 2,500.00
Crow, Shields & Bailey - Accounting 200.00
Miscellanous-rekey locks ,clean-up day ,and other small projects 8,000.00
Total Estimated Expenses $203,851.00
2 bedroom 3.0616 6,241.10
1 bedroom 2.1256 4,333.06
Each owner will have the option to pay the assessment in one lump sum or spread the payment over the next three months (March, April, and May). Please include the payment with your monthly dues or send it directly to: Tropic Isles Owners Association, P.O. Box????? , Gulf Shores, AL 36547.
Please do not hesitate to contact me with any questions or concerns. My email address is kwoodracer@yahoo.com.
Please also check our website for future communications at http://tropicisle.blogspot.com/
Sincerely,
Kenneth Wood
Board President
We have received most of the invoices for our Katrina repairs. Since only a small portion of these expenses will be covered by our insurance policy, the Board of Directors has voted to assess the membership $4333.06 per unit for the one bedroom units and $6241.10 per unit for the two bedroom units.
Our building didn’t fare well during the storm. This resulted in some damage to our outside walls and first floor area and a few of the units had some major water damage to the interiors from wind driven rain. The following is a summary of our Katrina expenses:
Wind Policy Deductible $112,695.00
Flood Deductible 500.00
Sand & Debris Removal, Site Work 10,000.00
Curbing 5,000.00
Parking stops 2,500.00
Interior Repair & Drying units (Wind driven rain damage) 17,085.00
Fencing pool deck 11,784.00
Stairwell hand rail repairs 385.00
Pool equipment - Heater & Repair 6,500.00
Painting Stairwell & Unit Doors 3,400.00
Landscaping 18,302.00
Gene's Floor Covering, Inc. - Carpet (Wind driven rain damage) 2,500.00
Gene's Floor Covering, Inc. - Lobby & Restroom tile 2,500.00
Sign - Estimate Only 2,500.00
Crow, Shields & Bailey - Accounting 200.00
Miscellanous-rekey locks ,clean-up day ,and other small projects 8,000.00
Total Estimated Expenses $203,851.00
2 bedroom 3.0616 6,241.10
1 bedroom 2.1256 4,333.06
Each owner will have the option to pay the assessment in one lump sum or spread the payment over the next three months (March, April, and May). Please include the payment with your monthly dues or send it directly to: Tropic Isles Owners Association, P.O. Box????? , Gulf Shores, AL 36547.
Please do not hesitate to contact me with any questions or concerns. My email address is kwoodracer@yahoo.com.
Please also check our website for future communications at http://tropicisle.blogspot.com/
Sincerely,
Kenneth Wood
Board President
posted by Ken Wood | 7:04 AM
|
0 comments
