November 21, 2025
Ladies and Gentlemen,
Please excuse the delay in communication regarding the status of the Special Assessment previously disclosed. It would be an understatement to say that progress has been slow, at best. In the last few days, two (2) different owners have posted on the Facebook page that they have received invoices for the Special Assessment. To clarify, we have NOT, 1) established a Special Assessment amount, 2) voted to adopt a Special Assessment, and 3) sent out any billings for a Special Assessment. We have just been notified by HGV and the insurance companies that Business Interruption coverage (owner maintenance fees) will now be covered for weeks 27-30 in 2024. As it presently stands, this leaves us without coverage for the last 15 weeks of closure, a very significant liability. Obviously, the final outcome of this issue will significantly affect the amount of Special Assessment funds that are ultimately needed. Along with determining the Assessment amount, we are trying to determine the timing of any invoices for the Special Assessment and the feasibility of allowing for installment payments. For obvious reasons, this remains a fluid situation.
On December 2, 2025, the Board of Directors will hold a meeting via Zoom at 2PM. Owners are welcome to access this meeting by Zoom only. Below is a link to join the event. We anticipate that the meeting will include a discussion of the rationale on the Business Interruption coverage termination date, and a discussion on the amount and timing of the Special Assessment. We encourage you to attend this meeting to gain a complete understanding of the need for this assessment.
Thank you, Tim Pellerin, Board President