PelicanNews
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PelicanNews
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T.A.P.R.C. - December 5, 2006 4th Quarter Minutes
Board of Directors Present: Jeff Pray, Jerry Luke, Judy Young, Tom Hoshall, and Fran Williams - sent regrets. Lawyers: Frank Roozen and Len Matsunaga Royal Resorts: Richard Corso, Rodrigo Gamboa and Luis Cabrera 1. Marina Project Update Excavation of the Marina Project started on March 14, 2006 and has been completed. The foundation of the first section (of the three sections) of the building has been completed. The fifth floor is currently being constructed in section one. As of November 29, 2006, construction is 29% ahead of the schedule set by the contractors. When 33% of the building is completed, the second draw of the construction loan can be made in early January. The web site will be constantly updated with financial information for the Marina Project. The Board and Management discussed ways to promote the new Marina Residences at Pelican to owners and to new buyers. One method would be to give owners a reward for bringing in new people who purchase in the Marina Residences. The Sales Department is currently offering a 15% discount, for a limited amount of time, on purchases in the Marina Residences. 2. PRC 25th Anniversary Since Pelican will be celebrating its 25th Anniversary in 2007, programs will be put in place to celebrate. The following marketing events will take place: Sunset Cruises, Cocktail Parties, Beach Pizza Parties, Caribbean Nights, Kayak Competitions, Movies on the Beach, Karaoke at M Pool, and Farewell Parties at B Pool. There will be promotional items: T shirts, etc., anniversary logo banners, and web site promotions. 3. Mildew/Mold Issue in Units The problems with the air conditioning units in the B buildings are not new. Management is looking into better ways to insulate the units. Owners tend to put on the air conditioning in the bedroom to cool the entire one bedroom unit. This can cause problems with condensation and mold. The floor above the A/C will have water on it from condensation. Management and the Board are looking into ways to insulate the floor/ceiling to prevent this from occurring. 4. Insurance Quotation The Resort is currently looking at three quotes for insurance coverage. The Resort paid US$460,000 for insurance from February 2005 – February 2006. 5. Pre - Check In Registration The pre-check in program started on week 45. Once the on-line form is filled out and sent, the owner is emailed a confirmation that the registration has been received. 6. Security Cameras / Wireless Internet The Resort is looking into the possibility of installing thirty-one security cameras with internet and wireless capability for approximately US$350,000.00. There are three options to pay for this: (1) take it out of regular funds, (2) assess the owners US$20 - 25 in 2008, (3) or encourage more investment in the PCIP program. Royal management showed the Board a diagram of the proposal. It will take three or four months to install the cameras at the Resort. 7. Swimming Pools The tiles have been replaced in the Marina, C and D pools. The A pool needs major repair as it leaks due to terrain movements. The B pool steps need to be re-tiled. 8. Legal Update The Antillean Lawyer, Frank Roozen, advised us on current legal issues. The Red Piano’s previous debt has been partially settled by the new owners. The balance should be paid by January 2007. The payments were for rent due on the B and the Marina pool concessions not paid by the previous vendor. 9. Concessionaires Report L’Aqualinge: The contract talks are continuing. Aqua Marina Adventure: The plan is to build an area equal to the current operational needs for storage, etc. Old Doctor’s Office: We do not have a vendor interested in renting the space at the moment. Casino Parking: It was proposed to rent the empty space at the top of the hill, for parking, to the Casino for a monthly fee. The Resort will provide access to an area behind the upper B building at our cost. The plan would be to build a road to this area so as not to have cars driving through the Resort. The Casino would pay to level the land and turn it into a parking lot. The Casino would also receive five marked parking spots in the Marina parking area. 10. Plans for Beach Area Royal management said there were many ideas being considered for the beach area. There are plans to build a new towel booth on the beach for those who are in the Marina and Flamboyant buildings. Royal is considering the installation of hammocks. 11. Maintenance Fee The total unpaid balance as of October 31, 2006 was US$1,616,019.00. The total 2006 AMF foreclosed units was US$615,280.00, representing 349 units or 5% of the amount billed. 199 units were sold in discounted forced sales in September and October: US$296,985 The collected AMF for 2007 and 2008 amounted to: US$280,900 Total collected on these sales: US$577,885
12. PCIP After some discussion on increasing the interest on the program, the following was proposed. Motion - Tom Hoshall: Investments for a minimum of US$5,000 will receive 5.5% per annum, for a minimum of US$10,000 will receive 8% per annum, for minimum of US$25,000 will receive 9% per annum, and for minimum of US$50,000 will receive 10% per annum. Significantly larger investments may be negotiated as to terms. The term will be for three years. Seconded by Jerry Luke. Motion carried. Sales will receive 1% on credit cards and 1.25% for cash. 15. Communication The on island magazine continues to improve. The web site now has a section where owners can register on line. The form is in the Members Room section. 16. Operations Report The following improvements have been made at the Resort: Marina building: Preventive maintenance was performed on 108 units, as well as corrective maintenance on another 87 units. A/C filters and smoke-alarm batteries were replaced. The Marina walkway drainpipes were serviced. Two mini split A/C units in the Marina building were replaced and a handicap ramp installed at the Marina pool. Service was done on the generators and the vacuum systems in the B and Marina buildings. The water heater in B building was serviced. The parking spot lines at Flamboyant parking lot were repainted. There was maintenance performed on the laundry. Pool maintenance: The Marina, C and D pool tiles were replaced and grouted. New 25th Anniversary Signs were placed around the Resort. New Gazebos were installed at the Marina Pool. 17. Training Program The training program for staff members continues at the Resort. In addition, all Front Desk, Bell boys and PBX staff have received special training from the Royal Resorts Guest Services Department Head in order to improve the quality of service and guest satisfaction. 18. Model Villa The Board and Management discussed how long the model villa would remain. The intent is to keep the model villa until the Marina Residences are sold out. Judy Young, Secretary December 5, 2006
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