Last 2023 Owner Update on MacArthur Beach and Racquet Club!
The elevator is working!! Let me reiterate Jack’s email – thank you for your patience. I know it wasn’t easy.
Please be assured we have begun the process of the elevator upgrade/modernization. You will be notified of information as the Board receives it.
We had our insurance agent attend the December Board Meeting. He explained the dramatic increase in property and flood insurance costs for 2024. That increase was due in part to the number of Category 5 storms and the increase in the appraised value of our property. Our insurance costs for 2023 was $275,000. Our insurance costs for 2024 will be $415,717. When the High Rise roof is completed, we might get a better rate for 2025.
Our year to date operating costs are still about $6200 under budget even with the unbudgeted hurricane costs we have incurred.
If you send Wind Mitigation Reports to your insurance company, please double check the web site. There were some errors that were corrected.
We are having some issues with the booster pump in the High Rise. Tom O. has found a new motor and it is expected to be installed in the next month. In the meantime, High Rise Residents might experience times of low water pressure.
The High Rise roof replacement has begun.
The Mid Rise roof replacement will begin after the High Rise is completed – in about 8 weeks.
The Board voted to go forward with the repair of the tennis courts. The total cost will be $122,000. (We have already paid $32,000.) Grinding and leveling of the courts will begin in January. No date yet on when the courts will be usable.
An owner expressed concern regarding the age of MacArthur Beach and long term planning. Tom Pierce spoke to this. He explained how reserves are established. We have strong cash positions and we don’t want the highest dues in the locale.
We employ a professional management company, have an excellent property manager, and an active board.
Once we get through the current ongoing major items there should be “blue sky” ahead.
And on that note…
Happy Healthy Holidays to All!
Respectfully submitted,
Yvette Peterson (#218)