| Two very important events happened in the last several days that your PBPOA Board believes you need to be aware of. They are: 1. The Future of the Pelican Bay Community Center and Pickleball. Details were initially introduced to the Pelican Bay residents. Kim Rosenberg, Pelican Bay Foundation(PBF) Director and Treasurer, introduced “The Future of the Pelican Bay Community Center” in a presentation to the PBF Presidents’ Association as the Mid-January issue of the Pelican Bay Post was being received by most residents. Kim’s presentation and the excellent PB Post coverage of the current community center expansion plan along with the Pickleball Working Group report by Mike Foley, Mike Ruffalo and Tim Corcoran are must reads because both PB Post articles explain the challenges involved with trying to expand services to a community that is, for all practical purposes, fully developed when it comes to available space and amenities. More presentations on these subjects are scheduled for early February, so residents will have ample time to express their opinions Because the PB Foundation Board vote to move forward on this project was delayed, it is important that your voice be heard on this issue. Your Pelican Bay Property Owners Association (PBPOA) expects that residents will have varying opinions about the feasibility and advisability of these projects, and we urge you to carefully read the information provided in the Mid-January issue of the PB Post to help you formulate your opinion. Your PBPOA will be conducting a survey of your opinions in the near future, the results of which we expect to bring some clarity about residents’ preferences. 2. The Front Page of the 1/20/22 issue of the Naples Daily News (Click here to read…) states: “Suit targets management company” This article states that a Collier County Condo Community alleges fraud and embezzlement by their Management Company, APMS. The owners of APMS apparently have left the country. The APMS group manages more than two dozen communities in Collier County, according to the article, and there are concerns that losses could be massive. One HOA stated that their 90-unit community may have lost $600,000 from their reserves. There is concern that the total fraud could approach $50 million in lost funds. Why is this important to residents of Pelican Bay? Because: A. Like the Surfside collapse, it serves as an early warning. Your HOA and your Directors should be monitoring Association funds on a regular basis. B. Does your HOA use a management company or retain hired staff? Do you understand the responsibilities of each? C. How strong is the HOA Board oversite? D. Does your HOA have separate bank accounts for operating, reserve and investment accounts? Are residents provided with regular reports on the balances of your various accounts and the activity within from the institutions holding the funds? E. Does your community have insurance to cover any theft or fraud losses? F. Does your Association Board require and oversee regular financial audits of your management company? We will provide more information on this fraud as it develops. |
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