Bonaventure Annual Meeting Notes March 2026

[TUGBrian]

Kudos to Cheryl Wood and Dale Sall for providing their personal notes from the annual meeting:

BONAVENTURE ANNUAL OWNER'S MEETING NOTES. MARCH 24, 2026. General:
Similar report and improvements as to Mizner but they're also upgrading all elevators due to frequent breakdowns. Parts are very expensive and waiting for them to arrive is time consuming. Patience is appreciated.

Security:
New locks will be installed throughout the properties, continuing into 2026.

Financial:
Have 3.2 million in the reserve account for upgrades but due to 46% delinquency rate on maintenance fees payments for 3 million in bad debts, they're showing a loss of 1 million for the year.

Questions and Answers:
The buyout/transfer options that have been offered recently were a trial to see if that would get the delinquency rate down. The offers were sent to all owners, not just delinquent ones. It was mentioned that the offer to trade up to another property did not take into account the difference in price per point value so one has to do his own due diligence on that before attempting to take advantage of the offers.

It was also noted that salespersons are not aware of all the issues and are operating with misleading information.

No firm plans going forward other than continuing with rentals to help with income and reduce losses.

Several issues with unit cleaning and getting supplies which was explained as a 3rd party contract were noted and they said they would address the problems.

 

[Mutt Dutchman]

46%... wow...