Breaking news from KBV board

[tango]

I listened in also. And there was a little bit of news. They started work on building G, and have found on taking apart the spalling that the damage is worse than anticipated. It was the chairman’s speculation that it would take the whole 3.7 million that they raised in the small special assessment to just fix one building, let alone the 3 buildings that they planned to do. It falls upon their engineering firm coming out for a reassessment to confirm how much more it would take for the repair of the oceanfront units. Hence another likely assessment, even before the big one. I did not hear any new word on the stalled lawsuit.

 

[jacknsara]

Aloha,
I believe I heard (but did not write down) the next mediation is scheduled for before the scheduled trial date in October 2025. The lawyers representing the AOAO prefer to avoid a trial if possible. Don't be surprised if there is more delay.
For regular resort info:
Occupancy is 87% and finances are a bit better than budget in part thanks to Extra Vacation rentals. Bad debt is17.8% which is down ever so slightly from earlier period. Kauai County crackdowns on homeless camps has resulted in heavier use and damage to and around the comfort station at the south end of vacant property south of the hotel which is part of KBV master association.
Jack