August 20, 2020

August 2020 updates in Paradise!

paradise

Dear Members,

As most of you are aware, there has a spike in positive cases on island and while there is no need for alarm, the protocols that have been established are being more rigorously enforced. At the time of writing, we have 959 local cases, 15 non-resident positive cases and 5 fatalities. We expect the situation to improve very shortly but everyone needs to be more diligent in adhering to the protocols.

Annual Shareholders Meeting 2020

This year, we sent the Convocation to our shareholders (only) via email since COVID-19 has forced the introduction of many adjustments to the US Post Office system accepting and mailing items from Aruba which severely affected the normal physical mailing process. Since regular mail from Aruba to the USA is extremely slow, in the past we prepared the Convocation for mailing and forwarded them to our Bank in the USA where they would stamp, mail them from the US and then bill us for the stamps used.

This year, when we approached them to do similarly for us, they advised that they could not assist because of COVID-19 imposed regulations. Consequently we emailed the Convocation to our shareholders. We apologize for any inconvenience this situation may have caused but it serves to re-emphasise the importance of having your updated email information since we intend to increase our use of digital means of communication in future.

At the Annual Shareholders’ meeting (ASM)

Approved the minutes of the 2019 ASM.
Approved the audited financial statements for fiscal year 2019 and discharged management obligations.
Approved the 2021 operational budget which reflects a 5% increase in the maintenance fees. (See new structure below)
Ratified the new Foundation Board members so that the Board is now: David Correale (Chairman), Zina Hassel (Secretary), Jim Pritsiolas, Al DiGiovanni and Marie-Louise Slaats. We extend a very warm welcome to the new members and wish the new Chairman and his team every success in the execution of their duties as a Board. We take this opportunity to sincerely thank the outgoing Board members – Dennis Hullmann, Fred Noemer and Gus Anglin – for their several decades of service years to the Resort and wish them well in their future endeavours.
Ratified the Supervisory Board members. To maintain some measure of continuity, the meeting approved the honorable discharge of Gus Anglin and Fred Noemer from the Supervisory Board. Dennis Hullman, David Correale and Jim Pritsiolas will continue as members of the Supervisory Board for one more year and we also wish them a successful tenure of office.

The 2021 maintenance fee structure – including the capital reserve – is as follows:

- Studio $498
- One bedroom $865
- Two bedroom $1045
- Two-bedroom townhouse $1068
- Three bedroom $1450

We would like to publicly recognize and sincerely thank the following members who voluntarily gave up use of their suites for 2020 without consideration for future redemption or compensation.

This gesture truly exemplifies the true “Spirit of Paradise” and is greatly appreciated. They are:

Karen Mediavilla
Bob Weaver
Elaine Rizzo
Brian Wadel
Robert Stover
Dennis Hullmann

Renovations on the third floor of Phase 1 continues and here are some pictures of the project which is scheduled to be completed next month.

Rest assured that on island and at the Resort we are executing all the necessary protocols for health and safety so, with adherence to the established standards, you can confidently make your travel arrangements.