By now many of you should have started getting the letter below in the mail, however, for those of you who have slow mail, the meeting info is listed below.
Please note that this has to do with the Pam Lucas lawsuit settlement. FYI-we have not shared much information with you during these proceedings upon advice of council. We were sworn to keep many items confidential by the court and mediation proceedings. More at the meeting.
ARISTOCRAT CONDOMINIUM ASSOCIATION
Notice of Board Meeting to Consider the Levy of a Special Assessment
Notice is hereby given that a meeting of the Board will be held on Wednesday, August 25, 2021, at 7 PM via Zoom. As per FS 718-112.2c, this meeting is open to
unit owners only.
Agenda
Call to order.
II Determination of a quorum of the Board.
Ill Proof of notice of the meeting or waiver of notice.
IV New Business
To resolve to approve and confirm a special assessment in the amount of $325,000 to fund a settlement of litigation with Pam Lucas.
Proposal to require a one-time payment by October 1, 2021, as we have an obligation to pay this settlement amount to Ms. Lucas by October 19, 2021.
1-Discussion by the Board.
2-Comments of owners.
V Adjournment
Please remember that in order to accommodate everyone present comments from owners will be limited to 3 minutes each. NO DEROGATORY OR INFLAMMATORY LANGUAGE WILL BE TOLERATED. Only the item on the agenda may be addressed.
The Zoom information is as follows:
Alexandra Cannone is inviting you to a scheduled Zoom meeting. Topic: Special Assessment Meeting
Time: Aug 25, 2021 07:00 PM Eastern Time (US and Canada)
Join Zoom Meeting https://us02web.zoom.us/j/82320928717?pwd=blVXVmtpVOZoaldOT2I4aTVDV EdIQT09
Meeting ID: 823 2092 8717 Passcode: 070693
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Meeting ID: 823 2092 8717 Passcode: 070693
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ARISTOCRAT CONDOMINIUM ASSOCIATION
August 9, 2021
Dear Owner,
The Board of Directors will be meeting on August 25th, 2021, at 7 PM via Zoom, to approve a Special Assessment of $325,000 to fund a settlement of agreement with Pam Lucas.
The Board, after consultation with our attorneys, determined that the cost and risk of a jury trial was not in the best interest of the Association.
The outcome of a jury trial often has little to do with the facts or the law. Condominium associations in general have never been a sympathetic party in the eyes of a jury, and with the tragic events at the condominium collapse in Surfside, this risk is magnified beyond our level of comfort.
This decision also limits the extent of owner's costs, as the original law suit was for more than double this amount and a jury award is not controllable.
Please also note that the settlement does not admit any wrongdoing on the part of the Association or the Board of Directors.
The Board regrets the burden of an additional assessment at this time while the Owners have already been assessed for concrete restorations.
Below is the schedule of payments for each unit.
Stacks 1 & 8
$2,644.65
Stack 2
$2,741.52
Stack 3
$1,781.77
Stacks 4 & 5
$2,546.66
Stack 6 $1,863.52
Stack 7
$2,778.49
Unit 102
$2,518.64
Stan Eisen-President
On Behalf of the Board of Directors
Comments