What is a VB(sub) maintenance fee?

[bookswin]

Howdy. Someone posted a chart of DVC maintenance fees by resort from the beginning until now.

For Vero Beach, there were columns for VB and VB(sub), and the latter was lower.

What does VB(sub) mean? I tried a search, but couldn't find the answer. Thanks.

 

[Chuck S]

SUB=subsidized. Early owners of VB received (some still do perhaps) dues subsidies when the resort was never completed, as their initial dues were based upon averaging the planned total points at the resort being sold.

When the resort was not finished, their dues could not increase more than 15% per year by law, so Disney had/has to subsidize them until they catch up to the current dues rate.

 

[bookswin]

SUB=subsidized. Early owners of VB received (some still do perhaps) dues subsidies when the resort was never completed, as their initial dues were based upon averaging the planned total points at the resort being sold.

When the resort was not finished, their dues could not increase more than 15% per year by law, so Disney had/has to subsidize them until they catch up to the current dues rate.

Chuck: Thanks. That makes sense.

If one of these (sub) owners sells his contract, does the subsidy go with it? I assume not, because I've never seen mention of (sub) on any of the resale sites.

 

[Chuck S]

I have no idea if the subsidy follows the contract when sold or not.

 

[Off-The-Deep-End]

It does not. Subsidized VB contracts lose their sub status when sold.

 

[sillykid]

A little off subject, but are you saying the resort was not completed as planned? If so does anyone know what else they were going to build, or how much more?
Thanks
Sillykid

 

[RobDoc]

The original plans for VB included development across the road from the present resort. That property has been sold. Since the original plans were for a much larger resort, the subsidy was included with the early sales so that those buyers would not have to fund all of the infrastructure. When the plan was modified to it's current status, the subsidy was no longer included with subsequent sales.

Resales of those early purchases will not carry over the subsidy - it was specific only for the original purchaser. When the contract changes hands, the unsubsidized fee schedule will apply. In that sense, it was like a "Charter Member" or AKV "Tapestry" situation, where only the first purchaser will receive the benefit.