Owner Alerts

Dear Owners: The letter and proxy that was sent to you possibly did not explain clearly enough the current circumstances that we have now found ourselves in. To help clear some confusion, the following is an explanation of what has happened.

One of the lessons learned is you don’t know what you don’t know. This has been a lesson for all of us up and down Daytona Beach Shores effected by the Hurricanes.

We have used most of our reserves to repair the rooms and reopen for you the owners. 

Our maintenance fees have Increased over the past few years. Some of the reasons are:

· they did not go up at all for about 6 years.

·  concrete repairs and property maintenance were necessary.

· rooms needed updates.

· Unexpected crises arose such as COVID and hurricanes.

· All of this was hindered because of the lack of normal increases in the past.

The sea wall is not covered by insurance, this is something that a total of 50-60 properties, condos and timeshares did not know.

Our annual budget is based on 1400 weeks, not 1456 like several years ago. We are closed for two weeks for deep clean, so 28 rooms times 50 weeks is 1400 weeks.

Our Property was (allegedly) underinsured, so they reduced our claims drastically, therefore causing us to engage a lawyer to try to get the monies recovered. (this is part of the litigation)

We are meeting with Insurance AND a lawyer to make sure that coverage going forward is adequate for our facility.

As per the contract with the SBA disaster loan, ANY insurance recovery MUST go directly to the SBA office for loan principal reduction.

The $50 per week owned was chosen to get out of debit as fast as possible with a minimum dollar impact to the yearly fee.

If the loan is not approved, our building will be at risk of total destruction in the next big hurricane, your vote and voice is needed immediately. Please return your Proxy Today. POSTED 3/29/23

 RETURN YOUR PROXIES TODAY!

All Owners will receive a mailing this week. Read and respond as soon as you get it! A vote is being held. There will be an Special Emergency Owners Meeting being held at Daytona Beach Shores Community Center, 3000 Belle Mead Drive, in Daytona Beach Shores  on April 8th at 10:am.

Make sure your vote is counted, return your proxy today. Must be received by April 7th.  No postage required.

For questions or concerns call the office at (386) 756-4662 or use email: madonna@sandandsurfresort.com

Sand and Surf will reopen on Saturday March 25. Beach access will be on a day to day basis depending on construction. Shoes should be worn walking up or down to the beach because of debris. Thanks to our owners for your support as we continue to rebuild our resort.

ATTENTION OWNERS -   THE HISTORY OF OUR SITUATION SO FAR-

SEND YOUR PROXIES TODAY!

Dear Owner, Hurricane Ian struck Sand and Surf on Sept. 29th 2022. Our seawall was breached, our pool and deck area destroyed and there was serious wind and water damage to many of our units. The Board met on Oct. 4th and began the process of filing insurance claims with our Flood and Wind Insurance carriers and look into applying for a Small Business Disaster Loan from the Federal Government. On October 8th we held our regularly scheduled Annual Meeting and President Ford announced we were pursuing an SBA loan with no objections from any owners present.

On November 10th Hurricane Nicole hammered South Daytona, taking out sea walls, decks and pools. This time the storm surge reached the corner of our building. The series of events and issues with our Insurance is far too complex to cover here, but as we expected, our carriers were at first unresponsive and then started lowballing and denying our claims. On January 17th, the Board officially engaged an attorney to represent us and we are now in litigation that may take months to years to resolve. Meanwhile we have continued to do repairs and shore up our foundation. We have had our debris cleared and our sand replenished. Our Engineer's plans are awaiting approval to begin building our permanent seawall and the resort is reopening for owner use on March 28th without a pool or deck. 

We have worked up to this point off our reserves and now we have to get some money to continue rebuilding while awaiting our settlements. Over the months the terms of the SBA loan that we've applied for have been worked out to where we would only have to raise our annual assessment of $50.00 a year per Unit Week to repay the loan over 30 years. The loan will be used to build our new sea wall, pool and deck. The Insurance settlements we receive in the future will reduce that loan. 

In order to finalize this SBA loan we need a vote by all the owners! We were not told we needed this vote until just recently and that is why we had to call an emergency meeting and get the proxies out ASAP. Now it is in the Owners hands.

The alternative is to possibly shut down, fire staff, and put Sand and Surf up for sale, as we cannot afford to rebuild without it or some more expensive financing. We need to move fast and we need 60% of our ownership to approve in person or by proxy vote at a Special Emergency Owner Meeting Daytona Beach Shores Community Center, 3000 Belle Mead Drive, in Daytona Beach Shores on April 8th at 10:am. We need all your mailed in proxies by April 7th.  Thank you 

MAIL YOUR PROXY VOTE TODAY TO:

SAND & SURF CONDOMINIUM ASSOCIATION, INC. 2535 S. ATLANTIC AVENUE, DAYTONA BEACH SHORES, FL. 32118 

Sand and Surf Board Meeting Minutes are posted Online and are available on the Owners Page. If you would like access to the page and are a current owner in good standing you may e-mail your owner name and current e-mail address to: sandandsurf1@charter.net and once verified you will receive an email invitation to create a user logon for the page. This e-mail will not be used for any other communication  than receiving owner e-mails and you will not receive a reply other than the invitation. Please call the office at (386) 756-4662 or use madonna@sandandsurfresort.com for all questions or concerns. POSTED 3/29/23