December 3, 2025……
Dear Fellow Seawatch -on-the-Beach owners,
For those of you that joined our meeting, thank you for your interest. For those that could not attend, here is a summary of our meeting. At this time, HGV does not have sufficient information to establish the amount of any potential special assessment. Our cash flow needs continue to be a moving target as the insurance claim has not yet closed. As we explained, the insurance carrier has now agreed to fund owner maintenance fee reimbursements for weeks 27, 28, 29, and 30. This event alone reduces our need for cash by nearly $100.00 per unit week. Securing maintenance fee reimbursements from weeks 31 until our date of reopening continues to be an ongoing discussion. If we are able to secure coverage for those weeks, it would cut the Special Assessment need nearly in half. The Board has requested a number of documents from HGV and First OnSite to enable us to appeal the insurance carrier ruling to discontinue the reimbursements after week 30. We have asked for these items within 45 days and upon receipt, we will make a direct appeal to the insurance company on behalf of the Association and its owners.
Under the assumption that a Special Assessment will be established, at this point in time, it appears that it will be due in early to mid-2026, and, depending on the amount, installment payments MAY BE offered. Florida Statutes do require that any Special Assessment voted on to be payable in 2026 must be paid fully in the calendar year 2026.
Thank you,
Tim Pellerin, Board President