November 3, 2024 Update
Published November 4th, 2024
This past Saturday, we held our annual meeting with a record turnout. Many questions were raised about
the hurricanes, the rebuilding process, and the special assessment. Here’s a recap to keep everyone
informed.
First, a big thank you to everyone who has been sending funds for staff lunches. The board and
management took all staff and their spouses out to dinner on Friday. It was a wonderful evening, and the
staff is deeply grateful for your ongoing support.
On Friday morning, the board met with our insurance agent to review our coverage. We confirmed that
we have the best coverage possible based on the property’s value.
Now, onto the recovery process: as of yesterday, we officially released Wright Way Remediation. This
is a significant milestone—rooms are cleaned out, treated for mold, and dried. While the grounds are
still being cleared, Tony and the Sea Club V staff are handling this.
Over the weekend, the board and management reviewed five contractor proposals, ranging from
$550,000 to $1,280,000. We’ve narrowed it down to two contractors, both of whom understand the
urgency for a fast yet high-quality remodel. We will finalize our decision this week.
Our next step is completing a 50% FEMA audit to secure construction permits. This requires an
appraisal, which we are working on. Once permits are in hand, we’ll begin construction. If any issues
arise, we’ll communicate promptly.
The plan is to reopen the second and third-floor units first, alongside the laundry, offices, and reception. First-floor units will follow in phases, starting with the Main Building, then the North, and finally the South Building.
Meanwhile, El and the team are hard at work. They are refreshing all second and third-floor units to ensure they’re like new. Tony is focused on replacing boilers and AC units, resurfacing the pool, and obtaining new furniture proposals. He’s also handling some necessary piping repairs while the walls are open.
Our beach is back to its beautiful self, though the boardwalk still needs repairs, which will be addressed
later, as it’s not covered by insurance.
This update highlights the tremendous progress made, and we will continue to share developments as
we move forward.
Thank you all for your continued patience and support.
Sea Club V Board and Management Team