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The Ritz-Carlton Club-St. ThomasNews from the Board-September, 2014
Board Votes to Cut Assessments
At its annual summer meeting in Boston in July, your Board voted to cut assessments b y a p p r o v i n g a b u d g e t reduction of $475,000. As a result the 2015 maintenance fees will drop approximately $300 per interest compared to 2014 and more than $500 compared to 2013. Subject to some last minute adjustments, the assessment for a 2-Bedroom Residence has been reduced to approximately $12,430, a 3-Bedroom Residence to $14,620 and a Suite interest to $11,865. (Suite Owners also pay a s e p a r a t e f e e t o t h e i r Neighborhood Association.) Annual assessment notices will be mailed to all Members in early October and must be paid within thirty days to avoid interest and late fees.
As you may be aware, the Board has struggled to keep assessments flat in recent years and has succeeded despite rising costs. The Board’s action this summer, however, will reduce assessments to their lowest level s ince 2010. These cuts were made possible largely as the result of recent Amendments to our governing documents, approved by you, our Members. They reflect income generated by your vote to allow the rental of interests owned by delinquent Members (Amendment VI) and by your vote earlier this year to allow
Marriott Vacation Club to take possess ion of del inquent Member interests and assume r e s p o n s i b i l i t y f o r t h e Maintenance Fees of those interests.
T h e s e a m e n d m e n t s resulted in a dramatic reduction of our bad debt expense. That reduction, coupled with skilled m a n a g e m e n t b y G e n e r a l Manager Ron Hulsey and his operations team, allowed us to reduce assessments this year, notwithstanding significant increases in our expenses, particularly for electricity and insurance.
Although we are clearly moving in the right direction, all Board Members would have preferred to reduce assessments even further. Board President, John Doyle, remarked that we should still be prepared for significant expenses, not all of which can be anticipated. Our insurance premiums continue to rise, the hurricane season is now upon us, energy costs c o n t i n u e t o s o a r a t a n unpredictable rate and our efforts to develop solar energy are taking longer than we had hoped. In short, these are uncertain times. The best way to insure that we can keep assessments under control tomorrow i s to exerc i se moderation and prudence today. All Board Members concur in this judgment.
We continue to pay roughly five times the electric rates that are commonly found in the states. The bill for last July, for example, was in excess of $200,000 and we have little protection against future rate increases. The Board is of the view that we must develop alternative sources of energy if we are to continue to control costs while maintaining, if not exceeding, the Ritz-Carlton brand standards. The Asset Committee and other Board members have been negotiating with some of the country’s leading solar energy companies to develop a plan that will allow the installation of solar panels on our property. Your Board has been working aggressively on this problem for five years. (Read More: Click on SOLAR)
The “Whopper” from WAPA
The Wow Factor!One of the reasons many if
not most of us invested in The Ritz-Carlton Destination Club, St. Thomas is the brand standard that goes with the name “Ritz-Carlton.” Not only must everything look right, sound right and feel right, every now and then, even the highest expectations must be exceeded. We call it the “Wow” Factor. This is very much what we have in mind wi th the r e f u r b i s h m e n t p r o j e c t n o w underway at our Club. We’re very excited about it and think that you will be as well. (Read More: Click on WOW)
Kudos To The Team: Member Satisfaction scores increased significantly in 2014, particularly Concierge Services. We congratulate them. (Read More: Click on KUDOS)
New Towel Stand By the Serenity Pool/Lily
On your next visit to our Club, you’ll find a new towel stand along side the Serenity Pool and the Lily Building. So if you prefer using this part of our beach and the Serenity Pool, you’re not going to have to walk quite as far to get a dry towel or ice water. The Towel Stand by Coconut Cove will remain in tact.
We also are looking into improving other beach services, with facilities such as private cabanas with massage services available for Members desiring the ultimate beachfront privacy.
The ‘Ugh” Factor: Seaweed Seaweed Happens! And a seaweed invasion happened to us big time last month. It’s a seasonal thing... and it came as our summer season was coming to a close. The Club was at very low occupancy at the time--mercifully--and we do greatly appreciate the patience and understanding of our Members on campus at the time.
General Manager Ron Hulsey reports this is causing additional expense in landscape labor and dumpster services and could ultimately cost un-budgeted sand replacement. Having this removed by machine is taking sand out with it. Removal by hand is pushing us into overtime, contract labor expense and loss of time and quality on normal landscape maintenance. Seaweed is among the contingencies we must always be prepared for. And because we are prepared, we anticipate that upon your return, you will find our beaches as beautiful as ever.
Our New Barbecue Grills: Taking Cover
Our new barbecue grills were an instant hit with the Members. We started with just two but demand was so high, we put in a third. There’s one just off the circle by Lily, another between Jasmine and Iris and the third between Heliconia and Gardenia (pictured left.)
Over the summer, we completed construction of protective covering on each of the three grills along with a stylish bench. Housekeeping has assumed responsibilities for cleaning the grills and that’s done once a day and even more frequently when usage requires. And the new grills are getting a great deal of use. We ask that you do your part to keep the area clean and clear after using the grill as a courtesy to the next chef!
Our 2014-2015 Season begins November 7. We are looking forward to another great year and welcoming you back to your Caribbean home. Your Board is here for you. Do not hesitate to share your thoughts and concerns. We can always be reached at [email protected]
With every good wish,
GREAT BAY CONDOMINIUM OWNERS ASSOCIATION, INC.6900 GREAT BAY; ST. THOMAS, USVI 00802
E-Mail: [email protected]
President: John Doyle [email protected]
Vice-President Abbey Chung: [email protected]
Treasurer: Thomas Doyle [email protected]
Secretary: Tim O’Brien [email protected]
Director: Steve Redan [email protected]
Privileged and/or Confidential: This communication contains information from the Great Bay Condominium Owners Association that may be confidential and/or privileged. Except for personal use by the intended recipient, or as expressly authorized by the sender, any person who receives this information is prohibited from disclosing, copying, distributing, and/or using it. If you have received this communication in error, please immediately delete it and all copies, and promptly notify the sender at electronic mail address of the Sender.. Nothing in this communication is intended to operate as an electronic signature under applicable law.
Get Involved--Join the Board
Members of our Board are elected for three years. Serving on the Board provides an excellent opportunity to provide your insights and experience on how best to run our Club and make it all that it can be. Our Board members meet four times a year and work an average of 10-15 hours per week on Board matters. The terms of two of our Member expire in January. If you are interested in seeking election, please apply. Member Services recently mailed an information sheet along with an application form to all Members. If you think you might want to run and don’t have the forms handy, no problem. Just click on ELECTION. But don’t put it off. Do it NOW. To be considered, your Nomination Form must be received by October 13.
If you feel you cannot commit the full amount of time required but would be interested in serving, please reach out to any member of the Board for information on how you might serve as a volunteer Member on one of our projects or committees.
