BeachPlace Towers Annual Meeting

The BeachPlace Towers had its annual owners' meeting on May 9. Approximately 30 owners were in attendance along with local and regional management company people from Marriott. Major items discussed were:

Renovation: The 10 year renovation began on May 9th and is expected to be completed in October. The property will be open during the renovation. Two floors (beginning with floor 19) will be taken out of service and completed sequentially as the work proceeds through the summer and fall. Owner and renter weeks will be available throughout the project. However, be warned that 1 elevator will be taken out of service for use by the contractors; so an already challenging elevator situation will continue to exist.

Parking: The parking garage will undergo major maintenance and repair work in the near future. The garage structure continues to be a challenging situation for owners, guests and renters. Marriott and the Board also are continuing discussions on the parking fee matter as it relates to MVCI owners of resorts other than BP. BP owners using their BP week(s) will never be charged for parking, and all of the owners in attendance at the Annual meeting were in agreement with the current parking fee policy. The parking fee continues to be an important budgetary item offsetting our parking garage expenses and BPT oceanfront property tax assessments which are the highest in the mainland US and Aruba MVCI properties.

Finance Committee: The finance committee reported that BP is in a very healthy financial position at 12/31/2007. Pricewaterhouse Coopers will issued an unqualified (clean) opinion on the Association's financial statements for the year ended 12/31/2007. Marriott regional financial officers also indicated that BPT has one of the strongest financial positions of the MVCI properties. The Board voted to use a portion of the operating reserve surplus at 12/31/2007 to offset a portion of future maintenance fee increases for 2009. The financial position is such that there will be no special assessment related to the 10 year refurbishment. The fund balances after refurbishment will continue to be strong.

Board Elections: The owners elected 2 Board members for a 3 year term beginning 2008. I was reelected and a new Board member was elected with a banking and business background (Linda Elenbaus). In addition, an existing Board member submitted a letter of resignation due to unexpected other business commitments (accepted by the Board with regret). The Board appointed the 3rd highest vote recipient (Jeremy Poplawski) to complete the remaining 3 year term of the resigned Board member.

Spring Break: The 2008 "spring break" season was not as disruptive and destructive as in the past. The Board continues to work with Marriott to set the tone for appropriate behavior by owners and guests by having an active police presence for the 5 week spring break period at checkin and late night/early morning hours as well as an enhanced management attitude toward protecting the assets of BeachPlace owners. There was total owner agreement for steps taken by the Board and management in this area.

Other Misc: The Marriott resale prices for BPT are now $30,400 (platinum) and $20,400 (gold). Resale prices are expected to increase after the renovation project is completed.
The Board approved an "Asset Reserve Study" be performed immediately following the completion of the renovation project. This study will be the most comprehensive study ever performed at BP and will assist the finance committee in budgeting for future asset replacements.

Sorry for the lengthy discussion--I hope BP owners who were not at the annual meeting find it informative.

Eric Minotti

Thanks for the info...

Thanks Eric for the summary. I'm sure all BeachPlace owners here on TUG are very appreciative of your work on our behalf ... and congrats on re-election.

Can you give us an idea what the '10 year renovation' program means? If the suites are all completed this year, surely that doesn't mean it's got to last for 10 years?? That seems a bit long for any oceanfront property, so there must be more to the program than this year's suite refurbishment.

I think we'll see much more pride of ownership after it's completed this year and hope it gives us all the 'wow' factor as soon as we walk in the door. If this is realized I agree we'll see resale prices well above the current $15-16,000 Ebay figures ... for what I think has to be the best deal in MVCI.

I must admit I'm overly anxious to see the 'new' BeachPlace Towers and hope I'm not one of those expecting too much and risk being let down. I've booked my 4 weeks for Feb-Mar, but expect to be next door for 4 nights in November and to take a peek at that time.

Thanks again, Eric,

Brian

minoter said:

...The 10 year renovation began on May 9th and is expected to be completed in October.

....The Marriott resale prices for BPT are now $30,400 (platinum) and $20,400 (gold). Resale prices are expected to increase after the renovation project is completed.

Eric Minotti

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The total cost per full villa will be $39,000. The Board has followed Marriott's recommendations on the renovation to bring the unit to Brand Standards except that the HDTV in the living room will be a 37 inch rather than a 40. It will be an LG model Marriott standard. In an attempt to manage owners expectations, below is a description of the project. The cost per unit is $10,000 greater than the reserve study had estimated. However, the finance committee anticipated this overage a few years ago and budgeted accordingly to avoid a special assessment. The Board truly feels most owners will be happy with the brand new look of the unit--although like any major project, not everyone will be satisfied.

Specifics: New carpet, paint, window dressings, bedding (not beds), dinnerware, dishes, glassware and plumbing fixtures throughout the unit. 32 inch HDTV flat panel TV in the master bedroom and the lock-off. 37 inch HDTV in the living room on a new TV table (large existing TV furniture is gone). New dining room table chairs and bar stool chairs. The glass dining room table stays. Granite counters in the master kitchen and lock-off kitchenette. New high quality sleepers in the master and the lock-off. New unit lounge chairs, new patio furniture on both balconies. New lamps with high efficiency bulbs. New cafe table and chairs in the lock-off. Refurbished 19th floor overlook lounge with 2 50 inch HDTVs.

Other items that are still in good condition and not replaced: kitchen cabinets, tile flooring, glass bathroom shower, certain artwork. Kitchen appliances will be replaced as needed. Appliances at BeachPlace have always been replaced on an as-needed basis, so many of the existing appliances are new or have a remaining useful life and will blend with the color scheme.

Eric Minotti

A quick related question about view

A quick MBP question - I know there are suites on the ocean side and the intercoastall side - Do BP owners buy one or the other, or is it the same price for both and luck of the draw at registration??
Wesley

You can not buy a unit at MBP that comes with a guaranteed view.

It's the luck of the draw when you check in.

You would think that most would want the ocean view, when in fact the west facing view may be more interesting (at least was to me).

We have also had both views. Although I do like the ocean view a tiny bit more, the intercoastal view is also quite lovely, and like Time Traveler said, often much more interesting (quite a lot of boat activity). I think the sunrises on the ocean side are what wins it for me. We once stayed on the 19th floor, corner unit south end, and I got up every morning to sit on the balcony with a cup of tea and watch the gorgeous sunrise over the ocean. To me, it doesn't get any better than that. (Also, took LOTS of great pictures.)

Also think about when you are traveling there and what time of day you most prefer to sit on the balcony. Morning sun on the ocean side, later afternoon sun on the intercoastal side. If you go in the summer, sitting out there in the full heat of the sun can be unbearable.

Eric ... thanks for the breakdown of what is being replaced. You didn't address my question about the 10 year renovation plan that started this May and ends this October. What's with the other 9 years?

Wesley - As far as view is concerned, there aren't too many MVCI TS with your choice of oceanfront view or intracoastal view. Here's an ocean view I took from my balcony a while back:

http://i249.photobucket.com/albums/gg227/pwrshift/IMG_2824LO.jpg?t=1211126661

MBP also has one of the best blue wave beaches in the world, and here's a BeachPlace webcam to see what your sandbox will be like. I don't know of any MVCI TS that has a webcam to show how their beach.

http://www.sunny.org/webcam/camapp.cfm

The 'other' side of MBP is spectacular too ... take your binocs so you can check out the multi-million dollar private boats as they cruise the Intracoastal. You get afternoon and evening sun on this side of MBP and it's much quieter than ocean side if that's important.

It's important to know that 2 bdrm condos on either side and behind MBP sell for $$millions -- and there are or will soon be gourmet restaurants and upscale hotels within a 5 minute walk of MBP from Trump, W, and others. The St. Regis, Atlantic Starwood and Hilton are already open. You won't need your kitchen much if you enjoy dining out. Enjoy safe and lovely beachfront walks and a car is not a necessity. If you want to see what the going daily rate is right next door to MBP check out the St. Regis at www.spg.com for a shocker. BeachPlace is sitting on a goldmine and will appreciate it the HOA doesn't go cheap on the reno.

The city fathers of Ft. Laud are doing all they can to tax grab this prime area (and MBP's MF is no exception) and that is quickly making the $4 hamburger a thing of the past ... but it's still a great urban centre vacation paradise you'll enjoy and MBP is right in the middle of it. Even with all this luxury construction, the buildings have to be built stepped back so they don't cast a shadow on the beach until 4 p.m. or later.

Below are some interesting photos and info on the beachfront activity:

Brian

http://www.starwoodhotels.com/streg...aleCode=en_US&localeoverwrite=&language=en_US&

http://www1.hilton.com/en_US/hi/hotel/FLLFSHH-Hilton-Fort-Lauderdale-Beach-Resort-Florida/index.do

http://www.starwoodhotels.com/luxur...pertyID=1475&EM=VTY_LC_atlantic_1475_overview

http://www.andyweiser.com/newcon/trump1/index.htm

http://www.andyweiser.com/newcon/w/W_Ft_Lauderdale_aerial-photos.htm

http://www.marriott.com/hotels/travel/fllsb-harbor-beach-marriott-resort-and-spa/

Brian; I think when Eric writes about the 10 year renovation plan he is referring to major renovations that are acted upon every 10 years (which in fact is happening this year).

I think you believe this major refurbishment will take 10 years to complete, but it will all be finished by November 2008.

Now, the HOA will begin setting money aside for the next major 10 year renovation which will occur on or about 2018 or 2019.

pwrshift said:

Here's an ocean view I took from my balcony a while back:

http://i249.photobucket.com/albums/gg227/pwrshift/IMG_2824LO.jpg?t=1211126661

MBP also has one of the best blue wave beaches in the world, and here's a BeachPlace webcam to see what your sandbox will be like. I don't know of any MVCI TS that has a webcam to show how their beach.

http://www.sunny.org/webcam/camapp.cfm

Click to expand...

Brian, I have a sunrise picture that could be a duplicate of yours.

pwrshift said:

You won't need your kitchen much if you enjoy dining out. Enjoy safe and lovely beachfront walks and a car is not a necessity.

Click to expand...

Last time we went there, flew into Ft. Lauderdale, and it was only about $20 (with tip) for a taxi ride to BP. We didn't need a car all week. We either walked or took the water taxi. We even walked home one night from the Riverside area, after dinner at the Cheesecake Factory, because we had just missed the water taxi and didn't feel like waiting for another. Of course, I think it was longer than the mile and a half that the waitress told us!

pwrshift said:

The city fathers of Ft. Laud are doing all they can to tax grab this prime area (and MBP's MF is no exception) and that is quickly making the $4 hamburger a thing of the past ...

Click to expand...

Speaking of hamburgers (and cheeseburgers), there is a Cheeburger, Cheeburger in the mall below BP. I love their burgers and Hubby LOVES their milkshakes.

Brian,

Marriott has what is known as a soft goods renovation (every 5 years) and a hard goods renovation (which would include another soft goods replacement) every 10 years. The problem with discussing the description of these renovation types is that they are a moving target. The Board never knows what will be the Marriott "Brand Standard" in 5 or 10 years. That is why the Board is having an asset reserve study immediately following this renovation. This study will be reviewed by a new Marriott asset replacement specialist to avoid surprises in 5 or 10 years. After the study, I should be able to answer your question with more accuracy.

The typical soft goods renovation (set for 2013) has been described by Marriott to the Board as replacing "anything that is fabric" including carpet. This would include sofas and fabric chairs, and painting. I wish I could provide more clarity, but I don't think Marriott even knows what will be "Brand Standard" in 5 years, much less 10 years.

Eric

luv2vacation said:

...Speaking of hamburgers (and cheeseburgers), there is a Cheeburger, Cheeburger in the mall below BP. I love their burgers and Hubby LOVES their milkshakes.

Click to expand...

Another casualty at BP and higher taxes is Cheeburger, Cheeburger -- my daughter just got back and told me it's closed. I liked their burgers too.

Brian

I've lost track. What is the occupancy of the stuido unit? Is still 3 or did it go back to 4? If 4 is it two adults and up to two kids or just 4 of any age? II is showing 4.

Thanks,

Ray

minoter said:

Parking: The parking garage will undergo major maintenance and repair work in the near future. The garage structure continues to be a challenging situation for owners, guests and renters. Marriott and the Board also are continuing discussions on the parking fee matter as it relates to MVCI owners of resorts other than BP. BP owners using their BP week(s) will never be charged for parking, and all of the owners in attendance at the Annual meeting were in agreement with the current parking fee policy.

Click to expand...

I'm sure that BPT owners are happy with the current policy. Should all the other Marriott boards change their free parking policy to exclude BPT owners?

I thought you indicated earlier that was one of the policies that Marriott wasn't budging on?

BPT isn't the only resort in the system with very high MFs.

-David

Icarus said:

I'm sure that BPT owners are happy with the current policy. Should all the other Marriott boards change their free parking policy to exclude BPT owners?

I thought you indicated earlier that was one of the policies that Marriott wasn't budging on?

BPT isn't the only resort in the system with very high MFs.

-David

Click to expand...

I think Marriott wants the free parking policy to extend to all MVCI owners, not just those at Beach Place.

Ray,

The lock-off occupancy is 4 people (including 4 adults). Local management has been asked to monitor any excess occupancy and not allow anymore than 4 people. The Board still believes that 4 adults accelerates the wear and tear of the unit, but agreed to reinstate the 4 policy and long as management enforces the rules of the resort policy as approved by the Board.

David,

The parking fee policy is still in discussion with Marriott. The Board has proposed various options to Marriott to solve the MVCI owner parking issue. Marriott agreed to develop a budget neutral solution, but has yet to present that solution to the Board. BPT association is an urban resort that owns their own parking garage; this is unlike any other MVCI property. The expenses related to the parking garage are significant. Also, the City of Fort Lauderdale has imposed a "Beach Beautification Tax" in addition to the oceanfront property tax for BPT. These taxes are higher than any other US mainland property.

Eric Minotti

Eric:

Thanks for the info and congrats on your re-election.

Do you have specifics on what exactly is being done in regards the parking garage maint. and repair work?

Thanks

The garage repair/replacement work consists of treating the garage surface with a penetrating sealer "Degussa Chem-Trete BSM 40 VOC clear sealer". Also, repair and replace expansion joints and repair concrete surface where needed. Also, caulking of garage columns and tightening or repairing the perimeter wall barrier safety cables. This job was bid and will cost between $100,000 and $200,000.

Eric

We own at BPT and have read several times about the spring break week destruction of property.

This may be a dumb question, but is there no provision for charging the perpetrators of this? I would think that hotels can charge for repairs, don't the TSs do the same? Seems wrong if we owners have to suffer the consequences...

As I understand it, if you are a BPT owners, but trade into a different week than you reserved, you have to pay the parking fee. I personally do not feel that is fair, since I am paying the high cost of maintenance fees. Is there any hope of at least including BPT who trade to a different week to get free parking?

Jo-Jo,

If you are a BeachPlace owner of a platinum week and you trade that week through II or the Florida Club to visit BeachPlace in the gold season, you do not pay parking. The reverse situation (if you are lucky enough to get a platinum week for a gold trade) would also apply--no parking fee.

The only time a BeachPlace owner pays a parking fee is when:
1--The BP owner owns at another resort and trades that other resort week into BeachPlace;
2--The BP owner rents any stay through the Marriott website or rents privately through another BP owner;
3--The BP owner stays at BeachPlace on an Accommodation Certificate from II.

Eric Minotti

Just out of curiosity - I own OP and am in the Florida Club. If I were to book at BP through the Florida Club, would I have to pay for parking then, since I am essentially coming in as an owner?

Luv2Vacation-

Since your are using a week from a non-BP property (OP) to get into BP, you pay for parking. Whether you are trading through II or the Florida club, you are not using a BeachPlace week to get into BeachPlace. No matter where you own, if you are not using a BeachPlace owned week at BeachPlace, a parking fee applies.

Eric

Using a BP week from another year (II)

Eric,

Congrats on your re-election.

As a BeachPlace owner, I want to thank you for all the information that you are providing to the owners on this site.
I truly get most of my information about BP from you on this site.

I have a question concerning parking fees at BP.
If I have a BP week that I have placed in II and use it the following year at BP do I have to pay the parking fee?
For example I banked my 2007 BP week at II and I'm thinking of using it next year at BP, do I have to pay for parking?

Also, If I understand the policy correctly, if I split my lock-off into 2 weeks, I would have to pay for parking the second week. At least that's what was explained to me a few years ago.


Thanks again,

Can't wait to see the updated BP later this year.

Dan

Dan,

Thanks for helping clarify this issue. The Board's intent with this policy is that BeachPlace owners not pay for parking for any stays at BP as long as the owner is using a BeachPlace week for that stay. This includes any lockoff situation where BP weeks are deposited with II and then those BP deposited weeks are used for a subsequent stay at BP.

Local management is on board with this policy, including this clarification. If a BP owner is charged for parking while using any BP week, that owner should discuss the matter with the local GM who will investigate the orign of the week for which parking is being charged.

If an owner is using his/her week (it doesn't matter which year) there will be no charges for parking.

Eric