VIRGIN GRAND VILLAS – ST. JOHN CONDOMINIUM OWNERS ASSOCIATION REPORT TO OWNERS
August 2022
Dear Fellow Owners,
The Board of Directors of Virgin Grand Villas – St. John Condominium Owners Association met on June 28, 2022. This letter will serve as a recap of the board meeting and an opportunity to share information with you about what is happening at the resort.
COVID-19 Update – As of May 22, 2022, the USVI Travel Screening Protocol was removed. As of the board meeting date, there are still restrictions on travel to and from the BVI.
The resort plans to expand the offerings at Lemongrass as the year progresses. There is currently a “Caribbean Night” every week and a second themed night will be added in August. In addition, plans are being made to offer at least two more themed nights a week. We have had 130-140 people attending the Caribbean Night each week. There continues to be a breakfast buffet and breakfast options are being continually reviewed. As of this writing, there are no negotiations with any other vendor outsourcing our food service. Snorkels continues to be open for lunch and dinner.
Negotiations are being finalized with a Spa operator and we hope that the full-service spa will be back to normal in September or October. The workout facility is fully open.
Recycling has come to St. John. There are new recycling bins that have been available for use since April. The program started at the pool area and the Main Lobby area and will expand to the outdoor villa areas.
Frenchman’s Reef on St. Thomas is being rebranded as a Westin Resort. It is scheduled to have a staged opening around the first of the year and will have an impact on the island’s labor market. The resort management team is making strong efforts to retain and support all of our team. Please thank the associates for their contributions as you see them and make them feel appreciated.
In reviewing our financial picture, we continue to have concerns about our collection rate. While we are slightly ahead of our budget forecast on maintenance fee collections, we are still below our historical rates. If you do not pay your fees, the other Association members are having to carry your costs. While recent changes to laws in the U.S. Virgin Islands may enable the Association to modify its foreclosure process to reduce the time and cost it takes to foreclose, it still takes a long time to recapture the uncollected funds. Over 370 accounts have been denied use this year. Most of these have been liened and several are in bankruptcy or foreclosure. The Association currently owns over 20-unit weeks and has an agreement with the Developer to repurchase foreclosed unit weeks. However, the Association does not necessarily collect all of the past due maintenance fees. If you find that you are considering not keeping your ownership interest, please consider contacting
866-682-4547 or email
Resale.Operations@mvwc.com to discuss surrendering your deed in lieu of a collection action.
We are keeping a close eye on our replacement schedule and inflation is hitting our island home as hard or harder than it is hitting mainland US. Supply chain issues continue to make procurement of necessary supplies difficult, although management is doing its best to deal with these issues. When we do have significant items on our reserve schedule, we are seeing larger than forecast impacts of inflation. We are doing what we can to manage these expenses and will do all we can to maintain the level of service and amenities we all expect.
The construction of permanent walls in buildings 41 and 42 are scheduled for the weeks that units are not in service. We hope that all of the construction will be finished in early 2023.
There is one board seat up for election for a three-year term at the next annual meeting. John Hilbert has served a one-year term as of March and is eligible to run again. Watch your email in late September for information on applications for this seat. The nominating committee reviews applications and interviews candidates who may then be placed on the ballot for the annual meeting next March.
The board holds its next meeting and budget workshop in September, and your owner-elected Board of Directors will report to you after that session.
William Bolton (Bill)
Bill.virgingrand@gmail.com
David Futransky
David.virgingrand@gmail.com
John F. Hilbert
John.virgingrand@gmail.com