December 13, 2023 Chip Fosth Update

Valued Seawatch Owners,

This past week we continued to take baby steps since the Thanksgiving Holiday. As expected, we did pass our rough electric inspection so this coming week, we can continue to put in the new lighting in the pool bar & outside areas. The interior can now begin to have the drywall hung on the ground floor! Price electric continues to get lighting turned on, on the ground floor. This week it was the housekeeping & maintenance areas! Summit Fire Systems was out this week to begin replacing our panel boxes & run new wiring for the fire sensors on the ground floor. FPL has finally given us a new date for reconnection to the grid! January 11th is our new date. This past week our temporary generator struggled, being replaced twice, so being reconnected to the street power will be a welcome step in our restoration. Cornerstone was in to take their final measurements to begin building the new cabinets & desks for the front office, sales office, security desk, & director’s office. Mid Island Watersports continued to rake our beach front so it will be beautiful upon our reopening. Universal Construction was in to take final measurements for the railings on the egress to the pool area, pool bar area & handicapped ramps.

This week I had the opportunity to meet with the City of FMB, along with other resorts, hotels, & citizens to ask questions & voice our opinions about our struggle to rebuild our properties & the different hurdles we have encountered. This was all facilitated by Beach Talk radio & is available for listening.

Obviously, we will not be open by the end of 2023. I know that 2024 maintenance fees bills have been sent. For those of you who own in the 4th quarter, it will be necessary for you to pay your 2024 dues & receive your 2023 credits afterwards. Unfortunately, because of the way the insurance reimbursements, this is necessary. My understanding is at this time is that late fees will be levied for those owners from the 4th quarter, should they choose to wait for their reimbursements. Owners have to be current with their fees to obtain reimbursements for 2024. Once again, Seawatch does not have a published reopening date. We will post it as soon as we are confident of an actual date. At this time, it will more than likely be after the first quarter of 2024.

As a reminder, we are an active construction site so please don’t come to Seawatch to take pictures or look around. I will try to keep you informed of everything I can. We do not have an expected opening date yet and I will do my best to keep you all informed of that as well.

Thank you for your continued support,

Chip and the Seawatch Team

Chip Fosth

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