Wednesday, January 4, 2023 - 10 pm

Letter from Nate Allen, President of the Kahlua Board of Directors

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I know many of you are curious about our costs and expenses, as well as, how insurance is factoring into the post-hurricane clean up.  So, here is a general overview.

 

To date, we have received advances from our wind and flood insurance carriers in the amount of $408,000.  We do not expect these advances will be the final payouts under our policies. 

 

We have also incurred the following expenses:  Engineering ($5,562.50), Appraiser ($2,300),  Restoration Contractor ($62,821.80), and Fencing ($6,446).  In addition to these costs, we anticipate the roof repairs will be made soon, which will cost approximately $10,000, and we know there will be additional costs owed to the Restoration Contractor (approximately $150,000, plus various expenses under the contract). 

 

Please know that these costs are only the primary costs associated the clean-up and mitigation process so far.  These are not related in any way to the “restoration” of the units, office/lobby, elevator or outdoor amenities.   We will be continuing to work with various contractors to obtain bids for all such “restoration” costs and that information will be presented to the owners prior to the vote on whether to discontinue the Association.  As part of that restoration bidding process, we will also learn whether we will be able to rebuild on the ground floor. It is too early to say because we don’t have enough information to bid out the final restoration costs, but that determination will based solely on the rules and policies adopted by Ft. Myers Beach.   

 

Phase 1 (the site clean up) is almost done and we will be moving into Phase 2 (the mitigation of any issues on floors 3-5) very soon.  Please remain patient as we continue to work with our contractors through these processes.  

 

We know there is a lot of work yet to be done, but we are pleased with the progress that has been made so far.  

 

Finally, we have learned that many of you received your checks back for the maintenance fees as “undeliverable”. There was a snafu at the post office, but we believe that issue is fixed now.  So, please resend your payments to KBC at the 4950 Estero Blvd address.  

 

Please contact me if you have any questions.

 

Nate Allen