Grand Seas Resort - Daytona Beach, FL

[Cheryl20772]

This year, the management team for Grand Seas Resort declared chapter 11 bankruptcy. Some Grand Seas owners have converted their weeks to points under management of Club Navigo.

Grand Seas collected the membership fees for Club Navigo and failed to forward the money; so paid members have had inconvenience getting approved to use their weeks through Club Navigo. Grand Seas Management Partners list money owed to Club Navigo in their Chapter 11 reorganization.

Grand Seas Resort has also begun charging a $3 per day "Resort Fee" to every guest.

Club Navigo is under Island One Resorts which also declared chapter 11 bankruptcy reorganization and listed Grand Seas Resort as one if its creditors.

Grand Seas Resort Owners' Association just mailed the notice of call for a new Board Member. I've attached a copy in case someone needs one. There are 2 open positions and one will be appointed by the Developer of Grand Seas Resort.

The annual meeting will be December 15, 2010 in The Galley (now converted into a sales room). I wish I felt qualified to run for board, but I don't. Maybe someone who really cares about the owners will take the ball. It would be great if it was someone on these forums. Written notice of intent has to be submitted on or before 5th day of November 2010.

 

[Cheryl20772]

We've now received the proposed budget for 2011 which will be voted on by the board November 17th and approved by the owners at the annual meeting on Dec 15th. Of interest in the budget proposal is one of the fine print notes inside:

6. The Developer emerged from reorganization protection on September 15, 2010 and reached a settlement with the Association for $900,000 which will be paid on or about October 29, 2010, subject to adjustments and prepaids. During the period of reorganization, the Association restated it's audited financial statements for 2006, 2007, 2008. The estimated balance due at December 31, 2009 as a result of the restatement is $1,294,400. The bad debt is $394,400 which is expected to be recognized in the 2009 audit. In the 2010 budget publication, $407,151 was reserved for bad debt related to the Develpper reorganization.

7.The Board of Directors has entered into a management agreement with Peninsula Resort Management LLC effective 1/01/2010, a copy of which is on file with the Association.

If I am reading the budget proposal correctly, our maintenance fees are going way up. Last year our 1 BR ocean front MF+Building Reserve was 526.30+50.88=577.18 and for 2011 will be 592.07+84.89=676.96

I'm not expert at reading these things, but that's what I see. My husband and I plan to try and attend this annual meeting on Dec. 15. It will be our first meeting and we want to try and understand what is happening.

 

[Cheryl20772]

Number 7 above is not a new management company at all. Peninsula Resort Management LLC is owned by Marsha G. Madorsky, same as previous management partners.

 

[Cheryl20772]

GSR Maintenance Fees

One Bedroom Ocean Front week 36

2010

Maintenance Fees 526.30
Building Reserves 50.88
Real Estate Tax 69.60
Club Navigo Fees 139.00

2010 Total 785.78
________________________________
2011

Maintenance Fees 592.07
Building Reserves 54.33
Real Estate Tax 84.89
Club Navigo Fees 139.00 To be billed separately
_________________________________
2011 Total 879.29 (increase over last year 84.51)

Address for payment is:
Grand Seas Resort Owners' Association, Inc.
P.O. Box 2009
Ormond Beach, FL 32175-2009

 

[Cheryl20772]

Hubby and I attended the HOA meeting at Grand Seas Resort today.

The 2 incumbent board members were reelected. We didn't learn a lot more at this meeting about what has been happening at the resort. There was just some general discussion about repairs and updates taking place. One homeowner requested info about some legal actions from past thefts and injury claims at the resort, another wanted clarity about the new $3 amenities fee.

I shared information about TUG forum with three other owners and then Jack Muncy, a board member, asked me not to give anymore cards out. I suspect he thought I represented a post card company and tried to tell him that pcc's are exposed here and the forum offers support for those who might become victims of those, but there is little trust about these things. I did give him a TUG card; so maybe he will come see how valuable TUG can be.

Grand Seas Resort no longer considers itself a Club Navigo Resort. They can't just dissolve their association with Club Navigo as those converted ownerships are contractual. It was said that owners who want to convert back to just Grand Seas plain ownership, should contact Jack Muncy to discuss the conversion. He did not tell how much that might cost.

It would be great if more people could actually attend the HOA meetings. This was our first time and it was a really small group compared to how many owners there are.

 

[Tulsatom]

Grand Seas/ Club Navigo fiasco

I just got my maint fee for the year. YIKES!!!! This is absurd! So we are paying for all the bankruptcy fees and bad debts???

On top of that, GSR has not paid CLub Navigo for my II fees, so I have not been able to bank my week! I have called several times over the past 3 months finally yesterday (Feb 9) GSR called me back and said they were paying my II fees to CN.

I dont know how to get out of this fiasco, and the pissing match between GSR and CN. Now I will wait to see if CN pays II for my dues. They havent in 3 years like I was promised when I first converted to CN.

 

[cybergary]

GRAND SEAS robbery

Noticed that Grand Seas annual assessments and financial department are crooks...I prepaid my 2012 assessments, which are outrageous by the way, and they double charged me and assessed 4 month sof late fees and collecction fees. I did not receive an annual statement or bill or anything showing my account balance or payment needed. I tried to reserve a week and they told me the news by phone. I had to pay the additional $480 dollars to reserve the week. This would be over $1300 in annual assessments for a 2 bedroom. No credit or reimbursement. I wrote the board of directors and have received NOTHING!!!! I was then notified of a special assessment of $75 for delinquencies in the financial account. I wrote another letter to the BOD and nothing. Yesterday, Aug 27, 2012 I recive a collection notice from Grand seas in the amount of $96.75 and called to find out WHAT WAS GOING ON??? not to my surprise, attitude from a John and a Nathon who clain that they are the managers and could not provide me again with a credit. I would have to pay. Now they tell me it is $97.28. nathon stated that we are like talking to a brick wall , there is nothing we can do. You will need to write a letter to the BOD. WHAT!!!!

This place has gotten out of control. No BOD meeting minutes available or anything to the owners except PAY MORE MONEY. This place is not worth the investment. Im seriously thinking of letting it go to collections and them just forclose on the week and take it. Cant sell my two bedroom for even $6000 and it was valued at over $15,000 6-7 years ago.

 

[cybergary]

Board of Directors

I need to know if there are minutes posted, or information of the board meetings. I also need to know who they are and is there a specific address or person to contact. My letters are being ignored to the resort address.

 

[cybergary]

Bad debt

I see why there is bad debt. Grand Seas over charges and does not take care of its owners. Buy in and get stuck paying more with no way out but NOT to pay.

 

[cybergary]

permananet transfer

Is there a method to totally and completely transfer my time share to another location/timeshare more desirable and affordable? Im tired of Daytona Beach after 12 years. BORING!!!!! Just rent it out for less than my annual assessments. Can barely get people to rent for $800 and assessments are reaching $940 to $1000 mark.

 

[simpsontruckdriver]

Unfortunately, there's not much you can do. If you stop paying, you will be liable for collections and/or foreclosure. If you are already in debt, bankruptcy will get rid of it. You could TRY to give it away, but with their huge financial mismanagement, I doubt anyone will take it. PostCard Companies (those who call owners and asking to buy) are frauds, and will require a huge amount from you and won't transfer the deed.

TS