Resort Reconstruction Status?

Owners / users at this resort are likely well aware that there was a fire at this facility several years ago now. One entire wing of the facility (the northermost section) was subsequently torn down completely. The rebuilding of that particular section has been painfully slow to date, although new concrete framework appears to be slowly progressing --- several YEARS after the fire.

During a recent personal visit and inquiry there, I learned from the (somewhat cryptic) on-site HOA representative that there has been an ongoing dispute of some kind with the insurance company and now --- joy of joys --- lawyers and lawsuits of indeterminate outcome.

So, my question is very specifically as follows: Does any current owner at the resort) KNOW for a fact (not rumor, not hearsay or speculation) ---- but FACT --- what the current status of this lawsuit is in terms of its progress or its final (if ever) resolution?

As I said, the resort HOA representative on site seemed considerably less than forthcomong in answering my questions, so I'm "reaching out" further for owner info.

I had some interest in buying an advertised week here, but my interest has been somewhat dampened by learning of the absurdly slow reconstruction, the ongoing insurance company issues --- and now lawyers. The fact that the HOA rep was so unhelpful and uninformative just gives me even further pause. Can anyone shed some informative light on this situation, based upon FACTUAL, first hand KNOWLEDGE? Neither uninformed speculation nor opinion would be at all helpful here -- I'm looking for some FACTS based upon the PERSONAL KNOWLEDGE of a current owner.

I know it's a stretch asking this question in the context of this forum, but the HOA rep on site at the resort seemed MUCH less than helpful in providing any meaningful answers OR in identifying any current owners from whom I might get more information as a prospective buyer here.

Thanks.

On 5/31/07 the writer/owner attended the Board Meeting held in the LaQuinta Hotel. Many issues were discussed. The lawsuit - has been filed with a new Sarasota legal firm - according to the board the suit should be heard 2-3 years from now. Makes me wonder why? The fire was 5 yrs ago. Check out the Florida Statute of Limitations below.

http://www.expertlaw.com/library/limitations_by_state/Florida.html

The Front Desk/Gift Shop - Dave Sanjay & Betty - no longer work there. A very knowledgeable lady - Donna -now mans the front desk. Computer access is available as well. Our new Manager Ed O'Connor - former Board President.

When the original Insurance Company refused to pay for reconstruction - ordered by Lee County and Fort Meyers Beach City Government - the Board, as we understand it - had to float a bond to begin construction. Where was our reserves was asked? They explained, since no bank or money institution would loan us money - under these circumstances, the Board was compelled to float a bond issue with very high interest. By October 15th, 2007 the owners must come up with $700,000 in interest. An additional access fee was discussed - to cover this loan's interest. It was presented that perhaps this fee would have to be instituted each year until the "loan" is paid off. Needless to say, the owners who attended were very angry. Like ourselves - they paid one access fee to "get it started" some years back after the fire, plus our maintenance fee one year. The following years - pending the rebuilding - we paid the annual maintenance fee per week - for apartments (we have three red weeks) which we cannot "trade" or utilize because there is nothing to trade. Somehow we were never awarded - as owners- a "free" vacation in vacant apartments or apartments owned by the Association. That is in our by-laws - however, this issue is under consideration for deletion as being unfair. To whom?

The plus side of this resort - which we have owned for 21 years - it is a family resort - with the same owners for many years. We have raised our children and grandchildren in this resort. All the owners are like family. Our apartments, when available, are well stocked and the property well cared for. Surrounding our beautiful pool and hot tub, we have umbrella tables, chairs and chaise lounges. In addition, we have gas grills,Tiki Huts, and outdoor picnic tables for our use. We also have a screened in outdoor room for family picnics. Our three weeks - 29,30,and 31 - on Friday before check out - we have two owner chefs who with all the teenagers - go crabbing and fishing all week and on Friday prepare a crab and spagetti dinner which all are invited. The resort management themselves have ice cream day, hot dog day, morning coffee and donuts. Competative games for the adults and teenagers as well. Our recreation room is large and well equipped with TV- stove, sink, refrigerator. and ping pong tables. On both sides of the resort- there are washers & dryers - free for our use. Also ice machines. .

This resort has many European visitors who come from year to year. We have German teenagers whose parents send them here every year - because they know their youngsters are safe with us. Their children are part of our resort family. We also have families from Genoa Italy who come every year for the same reason. They are owners - but during this catastrophe - have been renting for a fee.

Currently there are 18% VRI owned apartments, which will be auctioned off - to the highest bidder. If and when the discussed access fee becomes a reality - we are sure there will be many more on the market at reasonable prices. The Court case could go either way. We are advised by the Board not to rely on winning as a possible solution to our problems. "It could go either way" - However, if we win, we wonder what chunk this Law firm will charge us. Usually it is 1/3 of the settlement. Many owners question why this law suit was not filled immediately and why the Board procrastinated. We never really received any reliable information or updates.

As for us, we will try to hang in there and hope that all of our friends will hang in there with us.

The present status of the construction - The building is up - the new elevator is there - if all goes well - hurricanes notwithstanding - the Board advises that possibly owners might have access late August /early September. Construction crew advises all is going along smoothly.

We hope this answers some of your questions.

Eugene & Gloria Merrill Lauderhill, FL

Thank you very much for your detailed and informative reply and resort status update.

Update submitted 10/21/2011: It's several YEARS later now and I'm told that this lawsuit has not yet even been scheduled for trial. Yikes!!!

I'm also told that "Ed" (the on-site manager at CBC) is actually a retired lawyer. If that's true, it's certainly a bit baffling that the legal matters at CBC appear to have been so bumbled and fumbled and so very long-delayed.

I really liked the location of this place when I visited, but based on everything I now know, I can't honestly say that I'm disappointed that I didn't buy there when I had the chance to do so. It seems like it may have ultimately proven to be a VERY expensive decision.

I wish you and all other owners good luck and ultimate success in achieving a satisfactory conclusion and resolution in your lawsuit. Your patience is certainly to be commended.