Thank You Ginnie Wile! - Wsimg.com

Thank You Ginnie Wile!
On behalf of The Waterfront Community, The Board wishes to express its
profound appreciation to Ginnie Wile for her many years of service as a Board
member and past president. Ginnie accepted the nomination of the Board to
serve as President during a tumultuous time following Hurricane Irma. Her
steady hand on the tiller kept The Waterfront going forward in the face of strong
headwinds. Take this opportunity to thank her.

Irma Lawsuit Update
The Board of Directors (BOD) would like to bring everyone up to date on the
status of $2.2 million wind damage claim from IRMA.

As you are aware, we are now well over three (3) years into this litigation. The
major events since include July 2020 where we engaged in court ordered non-
binding arbitration. The Waterfront received a $1.8 million award plus interest
and plus attorney fees. As this was non-binding our insurance carrier AMCAP
declined to accept this award and requested a trial. Our initial trail date was set
for early March 2021; however, at our pretrial conference in January 2021 the
Judge delayed the trial to October 2021. This is due to Covid 19 and the
availability of courtrooms.

The Judge also ordered both parties to attend mediation and this was
completed on March 4, 2021. Mediation was unsuccessful as AMCAP declined
to offer anything over $900,000 with no attorney fees. It is estimated that roof
replacement alone would cost the association over $1.2 million plus we would
have to pay our attorneys a portion of any settlement. Shortly after mediation
the BOD learned that there were rumors in the insurance industry that AMCAP
may be considering bankruptcy.

The next day the BOD learned that AMCAP had been downgraded from an A –
risk company to a C – risk company. By Florida State Statue a Condo
Association cannot be insured with a company with this low of a rating and we
must obtain new insurance. The problem is that because of the roof damage no
other company can or will insure us. This leaves Waterfront in an untenable
situation. The BOD decided to explore our other options. This includes:
• Obtaining an interest only loan to replace the roofs with any trial award going
towards paying off such a loan.
• Exploring the possibility of AMCAP declaring bankruptcy. If this occurs our
claim is covered by the State of Florida. This State fund is set up expressly to
pay off claims for an insurance company that goes bankrupt.

To this end the BOD and committees have been gathering information on the
cost of loans, loan requirements, roofing replace costs, timelines, and
availability etc. There are several major issues still ahead, these include
attorney fees which are not included if Florida takes over our claim, the monthly
payments we are currently making to AMCAP for insurance and of course the
reroofing project.
This is just a brief overview of the events that are transpiring. The BOD wants to
reassure every owner that we are proceeding in the most economical way
possible to get all our roofs, gutters, soffits, and skylights replaced.
AMCAP has just recently put itself up for sale in hopes of finding a buyer. If
none is found in the next several weeks, all signs point to AMCAP going
bankrupt. In our Attorney’s opinion this may be the best outcome. The last time
this occurred the State of Florida took over the company and immediately paid
out all adjudicated claims. Since we won our arbitration decision our claim has
already been adjudicated. A payout from the State could take several months
but still may be ahead of our trial date.
The BOD will be providing updates. We encourage every owner to check in on
our web page and Facebook page. For the most up to date info please sign up
for our emails as this is the quickest way to contact you. Please feel free to
email the BOD or Florida Coastal Management if you have any questions.

Parking and Pool Passes
It is Peak Season! Make sure your guests put the guest parking pass in their
vehicle and that they bring the guest pool pass with them at the pool.

Before getting in the pool and / or jacuzzi after using suntan lotion, make sure to
shower before entering. The suntan lotion will turn the water in the jacuzzi
cloudy and takes extra chemicals to clear.

Water and Water Heaters
If you will be gone more than 48 hours, make sure that you turn off your water
supply and hot water heater. If your water heater should break, any damage to

another unit would be your responsibility.

Keys
Does FCAM have a current copy of your key? Do you have electronic locks? If
so, does the management company have the code? Take the time to make
sure they have a current key / code. In the case of emergency and they do not
have a current key / code, the management company will have the lock
changed and you will be charged. You can avoid this with quick trip to the
hardware store or a phone call to FCAM.

Awnings
The Board has approved the addition of awnings by owners covering their back
deck. There are stringent approval requirements. If you wish to consider
installing an awning, please contact FCAM for the specific application. Awnings
require Board approval.

www.TheWaterfrontInNaples.com
Forms, documents, financials, and meeting minutes are on our website. Most of
these documents require an Owner login. If you need help logging in, go to the
website:
www.TheWaterfrontInNaples.com
If you forgot your password or need a password, simple click on Reset

Password. If you need assistance, send an email to:
info@TheWaterfrontInNaples.com

Landscape
The landscaping committee has had a couple of “workdays” this year. Thank
you to all who have helped with the clean up along the nature trail. We have
managed to put in some great new plants which we hope will thrive. How many
of you have walked along the trail and seen the beautiful array of bromeliad
flowers in many sizes and colors? Take your time and really look on the trees
and on the ground. As for the orchids, they are spectacular – pinks and whites
and beautiful petals. And the butterflies are prolific.
We would like to thank our friends and neighbors who have contributed to allow
us to purchase an extra ton of grey rocks, which will let us do another few
“islands”. If you would like to work on your “island” or help buy more rocks that
would be great.

A BIG THANK YOU TO:
Deborah Lee and Kathy Moore for the work they put in cleaning up the guard
shack at the front entrance. It looks great!

Hubert White and Craig Tibbetts for all the maintenance work they have done
the past few months around the association complex. It has saved us a lot of

money and much appreciated.

Dennis & Marion Grant, Hubert White, Craig Tibbetts, and Sam Spring for the
pool restroom renovations includes new paint, new partitions, faucets and
vanities. Thanks to all for the work being done.

Your Board of Directors
James Morowczynski, President, 2233 A
Sonny Saunders, Vice-President Maintenance, 2286 C
Alan Moon, Vice-President Administration, 2286 B
Rhonda Tibbetts, Secretary, 2217 A
Deborah Lee, Treasurer, 2270 C
Dennis Grant, Director, 2278 B
Kieran Repko, Director, 2233 C

The Waterfront In Naples Condominium Association is
managed by Florida Coastal Association Management
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                               (239) 331-3772
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             www.FloridaCoastalManagement.com

 ©2021 The Waterfront in Naples | 2286 Anchorage Ln, Naples, Florida, United States of
                                   America, 34104

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