Season’s Greetings from the Board and Management of Sea Club V! 11.28.24
Published November 28th, 2024
thankful for. Most importantly, we are grateful that Sea Club V did not sustain catastrophic damage
requiring a complete rebuild. Even more, we are truly blessed to have such amazing owners. Your
unwavering support for the Board, management team, and staff has been inspiring, and for that, we say a
heartfelt thank you!
We know many of you are eager for updates on our progress, and while we don’t yet have a finalized
schedule, we’ve been hard at work laying the foundation for recovery. Here’s where things stand
Progress Updates
1. Permits and Appraisals:
o We’ve hired a contractor who is ready to move forward as soon as the necessary permits
are issued.
o The FEMA appraisal, a critical step for the 50% FEMA compliance paperwork, has been
completed and submitted. This means we are one step closer to obtaining our building
permits.
2. Contractor Work Already Underway:
o Tiling of the front office has begun.
o Upper kitchen cabinets in the lower units have been removed to prepare for repairs.
o Materials have been ordered, and the contractor is set to begin electrical and plumbing
work while we await final approvals.
3. Interior Unit Refresh:
o Our team has been busy painting, cleaning, and fixing the second and third-floor units.
This effort will leave them looking and feeling brand new!
4. Significant Progress on Amenities and Infrastructure:
o Furniture and Beds: Ordered and ready.
o HVAC: All second and third floor units now have new AC units. We will start replacing
the first-floor units next week until all are completed.
o Hot Water: New boilers have been installed and are being tested for all units.
o Laundry Facilities: Commercial washers and dryers are ready for installation once the
laundry room is drywalled.
o Pool and Spa: Resurfacing is underway. Completion next week.
o Property Cleanup: Nearly complete, with fencing behind the north and main buildings
finished. The back side of the south building to be completed next.
o Roof Repairs: The roof contract for the damaged north building is signed, with work set
to be completed next month. The main and south building flat roofs still need to be
investigated by our insurance carrier for repair/replacement.
5. Communication and Updates:
o Check for updates on Sea Club V’s website www.seaclubv.com. We are working on a new
Facebook page to keep everyone informed. More updates on the way.
Financial Strategy
Navigating recovery without receiving insurance funds has been challenging, but we’re taking proactive
steps. So far, we’ve used reserve funds to keep projects moving, and the Board is working with
management to secure a line of credit as a contingency. This will help maintain cash flow while we await
clarity from the insurance company, which we hope to receive by the end of December.
We understand there are concerns about a potential special assessment. Please know that the Board is
committed to minimizing this possibility. Thanks to the financial expertise of our Board members, we are
carefully forecasting expenses and exploring all avenues to avoid assessments. Many neighboring
properties have already assessed their owners, but we are determined to explore every alternative first.
Looking Ahead
Despite the challenges, there is so much to look forward to. When Sea Club V reopens, it will be a
property renewed—refreshed, restored, and better than ever. This experience has taught us valuable
lessons, and we are already working on a stronger strategic plan to prepare for future storms.
We promise to keep you informed as we finalize schedules and move forward. Rest assured, our ultimate
goal is to reopen Sea Club V as quickly and efficiently as possible.
Until then, we wish you a joyful holiday season filled with warmth, love, and happiness. Thank you for
your patience, understanding, and continued support. Together, we’ll make Sea Club V shine brighter than
ever.
Warm regards,
The Board of Directors and Management Team of Sea Club V