Annual Meeting Notices

[KMarie]

I got a notice today for the annual meeting at Vero. It's at 2 p.m. for the Board of Directors, 2:10 p.m. for Members on Nov. 27. An increase in the annual dues for 2002 is estimated -- from the current $3.9726 per point to $4.165. I also own at BWV, but haven't gotten a notice on it yet. Has anyone else gotten anything?

Is anyone planning on going to the VB meeting? If so, a report on the meeting would be greatly appreciated.


KMarie

 

[PamOKW]

Thanks for the post. Haven't gotten my meeting notices yet. They'll probably start arriving for all the resorts over the next week or so. I think Vero's meeting is first so they get that budget out first.

 

[CarolMN]

Ouch! That's a 4.8% increase! Sure hope BWV's maintenance fees don't increase that much. Anyone know (or care to speculate) what is causing the increase? Or is this a fairly normal situation for VB?

We've only paid full year dues twice so far and the 2001 dues (BWV) were actually less than the 2000 dues. Of course, we didn't expect that to be a trend.

 

[dianeschlicht]

No notice here yet either. Hope OKW doesn't go up that much!

 

[PamOKW]

I haven't gotten my notice yet but I think part of the Vero increase is due to the developer subsidy having ended and the resort not yet being sold out. There is a question about what costs are associated with the undeveloped land and who is paying for those costs until it is sold. I'm not sure what the answer is on that one.

 

[KMarie]

The Vero dues number I quoted above are for those who bought after 1-1-96 (which includes me.)

For those who bought before 1-1-96, the estimated 2002 dues are $3.3308 per point. I don't know what the amount was for 2001.

 

[KMarie]

The Vero dues number I quoted above are for those who bought after 1-1-96 (which includes me.)

For those who bought before 1-1-96, the estimated 2002 dues are $3.3308 per point. I don't know what the amount was for this group in 2001.

 

[JudithM]

Just curious ... why the difference at VB in dues based on when you purchased?

 

[PamOKW]

Just curious ... why the difference at VB in dues based on when you purchased?

It's just the way they set up the sales. Earlier purchasers were more heavily subsidized with a warning that this would eventually come to an end. Eventually, they took out the major subsidy for purchasers and they have been paying "real" dues all along. DVC is easing the earlier purchasers into reality. The year to year jump this time is 23% for the pre-1996 group. Although the "real" number is still lower.

 

[JudithM]

Pam, thanks for the explanation. I didn't realize DVC did this for Vero buyers.