Ray
Hicks, Association President,
On
behalf of the
Florida Club Condominium
Association, Inc., Board of Directors
Dear
fellow Unit Owners,
October 15, 2008
Thank
you for your continuous support in our efforts to manage and safely direct our Association. We would like
to take a moment to update you in our Associations financial affairs occurring this year. The economic
hardships that are prevalent in our country are also affecting our own finances within this Association and will forever challenge
us to cut costs in the budget wherever possible.
Many condominium associations
are failing due to their high number of foreclosures. Even considering our low number of foreclosures (average
of 5-10 units) the amount of time for the bank to foreclose and reimburse our Association for delinquent dues are approaching
one to two years! Sometimes the bank has refused to reimburse the Association, resulting in more
legal fees and escalating unpaid dues. Our Association is then forced to wait for a new owner to purchase
the unit; dues that are in arrears plus legal costs are not always completely paid in full (Florida Statue dictates this amount).
We will continue to move forward in our efforts, guided by Florida Statutes and our condominium documents, to collect
and bring these accounts to current status.
Please review the 2009 Proposed
Budget that has been included with this correspondence for changes to your current monthly maintenance dues and annual assessment
for the funding of the reserves for future replacement, repairs and/or maintenance. Our main objective
in 2009 is focus on necessary building maintenance as well as landscaping enhancements around the property.
It
is a pleasure to announce that most of your 2008 board members including myself are planning to serve, if elected, on the
board of directors for the 2009 term. Although there are times when serving an Association can be challenging
and quite demanding of our time and energy, it is to our enjoyment to protect the valuable interest of every unit owner.
We
look forward to seeing you at the Budget Meeting in October and the Annual Meeting in December 2008.
Wishing
you health and success,
Jesse Ray Hicks
Florida Club Condominium Association President
