Casa Del Mar

Hurricane Ike Information

This web-site will be updated as often as we have accurate information available to report to the owners.

June 30, 2009

Dear Casa del Mar Homeowner,

On Saturday, June 27, 2009, the Casa del Mar Homeowners Association held a Special Called Meeting. The purpose of that meeting was to vote on a single ballot issue related to the Hurricane Ike recovery efforts. The proposed initiative sought your approval of a Special Assessment for $5,000 per unit, for recovery costs related to Hurricane Ike, which have been made, but not yet paid for by insurance.

The ballot initiative passed by the required number of votes; the final vote count results were 121 in favor and 60 opposed. The number of “yes” votes cast achieved the 2/3 requirement per the Associations governing documents. All ballots and proxies were counted and verified by two of the homeowners in attendance, two of your management staff and one of your Board members.

For those of you who were not in attendance, it should be noted that the Association received an additional $650,000 of flood claim insurance proceeds on June 26,, 2009. This is in addition to the $300,000 payment received on June 8, 2009. This brings total flood claim proceeds received, to date, to approximately $950,000.

Enclosed you will find a Special Assessment statement, reflecting the first installment of $2,500. As per the ballot language, this payment is due no later than August 15, 2009. We have enclosed the statement with this letter to provide you ample time to arrange for payment. Should you wish to remit this payment earlier, you are certainly welcome to do so. The second installment of $2,500 will be billed on October 15, 2009, and will be due no later than November 15, 2009.

On another note, recently a number of questions related to general Association operations have been brought to the Board’s attention by concerned homeowners. In the next few weeks, Management will be working with your Board on a broad based Frequently Asked Questions document. The intent is to answer all of the questions that have been brought forth in a clear and concise manner. Please look for this mail out later this month.

In closing, I would like to take this opportunity to thank all owners who sent in their proxies and those of you who attended the meeting. With the passage of this ballot initiative, your Board, Management and the Association can now move forward in satisfying the Association’s loan obligations and the past due payments to the vendors related to Hurricane Ike. Your Board would like to thank you for your continued trust, confidence and support.

Sincerely yours,
Thomas A. Martin
President, Casa del Mar Association, Inc

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