Special Meeting delayed.

[tango]

Just got the email from AOAO notifying that the May 2 Special meeting has been delayed until another time. Content below.

April 28, 2023


Aloha Kauai Beach Villas IOA Owners,

Please be advised that the AOAO Kauai Beach Villas Board of Directors has voted to delay the May 2, 2023 Special Meeting of the Owners to a time to be determined later.


Mahalo,
Kauai Beach Villas AOAO

 

[bnoble]

That’s…interesting.

 

[magmue]

especially the TBD part. Balloting re: special assessment ended on April 27, so theoretically they had results when this notice went out. What is the rationale for the delay?

 

[TheHolleys87]

Could this delay have anything to do with the lawsuit brought by the wholly-owned unit owners? I know there are separate organizations (which I can never keep straight), but the buildings are the same, right?

 

[magmue]

The buildings are the same, although IIRC the whole owners are more concentrated in the oceanfront buildings.

 

[schreff]

Why was there no full disclosure by the BOD as to why the delay? It is their duty to keep the owners informed and I have been having problems getting them along with Wyndham KBV management and Wyndham Destinations to answer specific questions along with supplying financial information about the proposed special assessment, etc. The only thing in hard copy supplied is a budget which means nothing. I need to see the the financials period. When the bank is willing to only loan a small percentage this sends a bad message. It is the BOD's fiduciary responsibility to be fully transparent!!!!!!!!!!!!

What if this special assessment is only the beginning. What if after paying your individual assessment the majority defaults? Who then pays their share? What if other problems are found? What will the owner's share of a unit be worth after the repairs? It is very hard for owners, some who live thousands of miles away, to vote in the dark for a special assessment which does not guarantee any future value. I am sure the financial experts at Wyndham know a heck of a lot more than we do.

This whole thing is fishy. When it is apparent that we, the owners, are not being informed there has to be a reason why.

 

[jacknsara]

Aloha,
According to the meeting dates document at https://kauaibeachvillasresort.com/...2/2023_APPROVED_-KBV-IOA-Meeting-Schedule.pdf the IOA (timeshare) will be a BOD meeting onsite on 5/4 and the annual meeting will occur on 5/5. There should be links available for owner remote participation in listen only mode for the business part generally followed by an opportunity for owners to say something. We'll be in Oahu. I might log in if were moving slow due to jet lag.
Jack

 

[schreff]

Aloha,
According to the meeting dates document at https://kauaibeachvillasresort.com/...2/2023_APPROVED_-KBV-IOA-Meeting-Schedule.pdf the IOA (timeshare) will be a BOD meeting onsite on 5/4 and the annual meeting will occur on 5/5. There should be links available for owner remote participation in listen only mode for the business part generally followed by an opportunity for owners to say something. We'll be in Oahu. I might log in if were moving slow due to jet lag.
Jack

Did it occur? I started to write the below but due to a health issue never posted it. If so, where and how can we get a recap of the meeting. Thanks so much for you help and posts.

Thanks for the info but imho this is either stretching the boundaries of malfeasance/misfeasance or the direct definition of. Listen only mode makes owners who have unanswered questions and this is not legally defined as PARTICIPATION. Aren't there time frames for meeting notifications and hy would owners not be able to ask unanswered questions and present ideas prior to the body of the meeting? I have not received answers to my questions from Michael Brown's personal representative, the KBV BOD. or Wyndham's KBV manager. Why? It appears that someone is pulling strings within the trio mentioned at a time when full disclosure is the only prudent path for owners to follow. What does this trio have to hide? You say that there "should be links available" and "generally followed by an opportunity for owners to say something" but after hidden, questionable decisions have been made by the BOD what good is this if it really happens at all. It appears that this is only the beginning of the end of KBV and that the legal ramifications could drag on for years.