Welcome to our blog series, "Everything Seaplace", where we uncover the hidden gems and captivating stories of Seaplace.

To see all of our great episodes please go to:

www.teamrenick.com/everything-seaplace

 
 

Hello Seaplace Community,

 

As we approach the end of July, itโ€™s crucial to keep everyone informed about some significant developments regarding our insurance and funding. Transparency and strong communication have always been our promises, and today Iโ€™m here to deliver on that commitment.

 

Insurance Update

Weโ€™re currently working with Brown and Brown to secure our insurance for the upcoming year. While the process is still ongoing, the outlook is promising. Unlike last year, weโ€™re not facing the same hurdles in obtaining full coverage. Rest assured, weโ€™ll keep you updated as more information becomes available.

 

Full Funding Requirement

Starting from our next budget cycle, weโ€™ll need to fully fund certain projects in advance, as per Florida statute. This change means we can no longer partially fund items like we did in the past. Instead, weโ€™ll need to have the necessary funds in the bank before initiating projects.

 

This might sound daunting, but thereโ€™s good news. Not all projects require full funding. Items directly impacting owner units must be fully funded, but others, like the swimming pool, might not. Weโ€™re working diligently to understand these requirements and will provide clear guidance at our town halls in September.

 

What This Means for You

For projects that must be fully funded, weโ€™ll present the financial implications in September. For those that donโ€™t, weโ€™ll continue to follow our current process, allowing for community votes on funding decisions. Our goal is to manage our finances prudently while complying with the law.

 

Your feedback and questions are invaluable, so please donโ€™t hesitate to reach out. My personal cell is 941-400-8735. Together, weโ€™ll navigate these changes and ensure a bright future for our community.

 

Best regards,

Mike Renick