MANAGER’S REPORT

from the desk of Sally Warren

Summer is arriving at Shipyard and it’s hard to believe how far we’ve come since Hurricane Matthew hit last October. As I told this year’s Annual Meeting attendees, excellent planning with the Town and the POA had Shipyard as ready as we could be for Matthew. Our relationships with vendors, the Town, the staff, the commercial partners and our owners expedited the clean-up in shipyard.

Again, I want to thank the Sonesta, the Shipyard Golf Club, The Greenery, All Care Tree and Lisa Baldwin of Crowder Gulf for extraordinary cooperationduring a difficult few months. FEMA made its final pass of the property in Shipyard in March, however, we are still working on stump removal and removal of trees from the lagoons.

Financially, Tropical Storm Hermine and Hurricane Matthew depleted approximately $211,000 from our Catastrophic Fund. However, because of the strong 2016 real estate year and budget controls, the POA absorbed the loss and did not assess Shipyard owners, many of whom have received special assessments from their regimes. One of the best things Shipyard did 11 years ago was to pass the uniform covenants and institute the Enhancement Fee Transfer Fee of 1/2 of 1%. This fee enables the POA to make improvements and to take part of those annual proceeds and add them to the Catastrophic Fund.

Improvements made during 2016 included upgrades at both entrances, improved owner usage opportunities at the Beach Club, improved communication through e-blasts, Facebook, The Anchor and positive relationships with the real estate community. Shipyard launched our Facebook page during the hurricane, and I can’t emphasize enough how Facebook allowed us to provide key visuals for all owners worried about the conditions locally.

Lastly, I want to again thank our staff and the past and current POA Boards for their support during an extraordinary year and for rising to the occasion when the challenge occurred. Now, let’s get ready for summer fun and hopefully a quieter hurricane season!