Construction Update

I don't have a lot to tell you this week...but as Tori announced in her President's report at last night's Board meeting, we are working towards solutions. We do owe Clout money, the money is in the bank, but Clout has not submitted the paperwork properly for the bank. Therefore, the bank is withholding payments, which in turn means that subcontractors do not get paid. This has caused one subcontractor to file a lien for materials against us.

Mike Martin, has been working daily with Clout, to help get the paperwork correct. Our loan officer has been out on vacation, and the assistant there has been little to no help, according to Mike, but he is confident, that we should have all of the money issues resolved within 7-8 days, if not sooner.

Paul Terry continues to negotiate with Clout, and represent our best interests financially and legally.

Our insurance agent requested some information for the Builders Risk policy and I thought that I would pass it onto the community for your view This gives a generalized timeline of our projects and a perspective end date. It is attached below. Keep your fingers crossed. We want to move ahead and keep the progress going. We realize how long people have been without a balcony, a lanai, and have had boards blocking the sunlight from your living room. Today is the first day of summer, and how we all long to be outside enjoying the sunshine and a cocktail on our patios. As always, we will keep you informed of any updates towards progress.

Try to stay positive and patient, as we wait for the project to proceed, and we are dealing diligently with all of the challenges that are put before us. Until next time...

Bermuda Bay Beach Condominium Association, Inc.

Email: bermudabaymgr@condominiumassociates.com
Website: https://condo.cincwebaxis.com/
Location: Bermuda Bay Beach and Racquet Club, 4201 38th Avenue South, St. Petersburg, FL 33711, USA
Phone: 727-864-0735
Twitter: @BermudaBayStP