Frequently Asked QuestionsNative Sun 40 Year Recertification Project
Please view all videos and read all emails presented on the Native Sun website for a more complete and up to date review.
—Native Sun Board of Directors
Has construction proceeded beyond the Oct. 25, 2021 date by which we were asked to remit our assessment?
Yes, thanks to a vigorous response from our owners, construction and restoration continues.
Is the project on time?
Both our engineer and project manager confirm that barring a significant weather event, construction should be completed by December 10, 2021, after which the rooms will be cleaned and the property prepared for occupancy.
Beyond the restoration of the catwalks and balconies, has the rest of the building been deemed safe and in good condition?
Yes, structural testing confirms that the primary components of the building are in good shape.
Why weren't all the issues leading to the second assessment revealed during the first inspection?
The building was occupied during the first inspection, precluding the destructive testing (boring and hydraulic sampling, etc.) that revealed the hidden damage incurred over 40 years of neglect.
The Board has stated that compensation for those who've lost weeks at the resort is not feasible. Why?
The Board controls a limited number of weeks through lockouts or ownership. There are over 400 unit-weeks impacted by the resort’s closure. Compensation for that number of weeks would stretch over a number of years, and finding suitable weeks for each owner would be a herculean, if not impossible, task. More importantly, the rental of the resort-controlled weeks provides approximately $100,000 per year in revenue…revenue upon which the resort depends both for operations and to keep our owners maintenance fees low. The Board feels that asking owners to bear the brunt of a significant increase in fees to make up for this lost revenue is untenable and not in the best interest of the Native Sun’s continued operations.
Why don't we just permanently close the Native Sun and sell the property?
Please view the video recording of the October 12, 2021 owners meeting on our website for a thorough explanation. But in a nutshell:
- The resort attorney has advised us that once the damage was revealed it was, and is, our fiduciary mandate to make the property safe and preserve the assets of the resort.
- Our bylaws require that 75% of all owners would have to approve a sale. We have never been able to get 75% of our owners to respond to anything; elections, mailings, etc., in the history of the resort.
- The tremendous response to both the first and second assessments further indicate the owners desire to see the Native Sun reopened.
Wouldn't a declaration of bankruptcy make sense?
Our attorney indicates that this would be a decision of last resort. He indicates that it would require a minimum of two to three years to clear all deeds, and settle any potential legal claims before the property could be placed in receivership. Once placed in receivership, the final disposition of the property would largely be out of the hands of the Board and owners. He feels, based on his experience at other time share properties, that legal and court fees would make any return on the property’s sale negligible.
How can he say that without knowing the value of the property several years down the road?
We’ve been advised that our lot size and local building regulations limit the value of the property.
What if I am unable or unwilling to pay the assessments?
Our bylaws state that any assessment be treated as a routine delinquency. You would not be able to occupy, rent, or sell your unit until all debts are cleared.
What if I no longer want my unit?
Sale of your unit is a viable choice if your obligations are met. The Native Sun cannot take back units either by gift or purchase.
What if I just walk away?
Like any other business, the resort will pursue any and all legal means to collect any outstanding debt owed the resort. This is only fair for the majority of our owners who are in good standing. Pursuit of debt may include legal action, use of professional collection services, and reporting to the three major credit reporting services.
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