We have received notification that Alabama Power will be shutting down power to Dauphin Island on Monday, November 23, 2009 from the hours of 7:00 AM to 12:00 NOON. If a rain date is required, the maintenance will be performed on Tuesday, November 24.
HOLIDAY ISLE EMERGES FROM BANKRUPTCY
November 3, 2009
Holiday Isle LLC, the developer of Holiday Isle Condominium on Dauphin Island, Alabama, filed for Chapter 11 Bankruptcy protection October 23, 2008. This action was taken to stay a foreclosure sale scheduled for the following morning that was initiated by RBC Bank and Sovereign Bank, the construction lenders for the condominium project.
Located directly on the Gulf of Mexico, Holiday Isle is a seven story luxury condominium containing 144 living units and numerous amenities, including indoor and outdoor pools, covered parking and an elevated fitness center overlooking the beach. The building was completed in 2007 and is the only modern, mid rise, concrete and steel condominium on the Island.
Many of the Holiday Isle condominium units closed following completion, which repaid a majority of the loan. However, some original buyers of units failed to close on their purchases. Had these buyers closed as scheduled, the loan to RBC and Sovereign would have been completely repaid in 2007. The failures to close brought about the foreclosure, which triggered the Chapter 11 filing.
Today, the Bankruptcy court confirmed a business plan submitted by Holiday Isle, allowing it to emerge from bankruptcy and to continue its business operations. This plan provides for the sale of the remaining units at Holiday Isle over a two and one-half year period of time.
Holiday Isle anticipates business as usual in the marketing of its remaining condominium units. Current economic conditions have slowed sales. However, recent sales have been to seasoned investors and most of those closings have been all cash. These buyers have indicated long term investment goals, including rental income and appreciation in value. ACP Real Estate provides full on site rental management services to many owners who rent their units.
During the first several months of its plan, Holiday Isle anticipates selling two or more units each month, rising to three or more units per month during the balance of the plan. Prices during the early months will be the lowest available and will rise over time.
The Holiday Isle Condominium Owners Association, which is composed of the owners of all of the units, is managed by a board of directors composed of a combination of developer appointed and elected independent members. The Association is in excellent financial shape and was not affected by the Chapter 11 filing.
Hello everyone... below is the monthly newsletter from the DIPOA president. Bill Harper announced his resignation which went into effect that day. By election of the Board, Bruce Jones accepted the responsibility of President. Below is his newsletter to the membership.
_________________________________________________________________
Dauphin Island Property Owner’s Association
November 2009 Newsletter
You will notice that the newsletter has a new author—I'm Bruce Jones, now serving as your president. At the November board meeting, then President Bill Harper submitted his resignation. I was elected president and Jay Minus, vice president. I will take this opportunity to say a well deserved “Thank You” to Bill for his energetic leadership. His presence will be missed but we wish him well in his new “retirement” status. Following are items of interest to the membership.
Communication—we are working hard to improve our communication processes. Our website is being updated with current and accurate information and we have begun a process of completely overhauling our site so that it can be updated more readily and contain more sophisticated features and capabilities. Stay tuned. Also, we are continuously working to improve the accuracy and completeness of our e-mail list. If you have changed e-mail addresses, or if for any reason you suspect that we don't have your correct address, please contact us. Also, if you are aware of other members who are not being reached by our mailings, please suggest that they contact us. We are serious about getting our mailing list in order and need everyone’s help.
Tropical Storm Ida While it didn't seem like much of a storm down in “the woods”, we nonetheless experienced serious beach erosion and washover on the west end. There was minimal structural damage, but the sand loss continues to burden the west end owners –particularly those south of Bienville. The board passed a resolution instructing the president to send the Mayor a letter requesting that every effort be made to restore the sand to where it came from, and if any bulk depositing of returned sand is necessary, to favor locations to the east, rather than the west, so as to be advantaged by the natural littirio flow. We also offered to assist the town in obtaining right of entry permission if needed. The letter was presented last Monday evening at the agenda meeting, and a copy will be posted on the DIPOA website.
Litigation Status The settlement proposal for the Corp of Engineers lawsuit is still under review by Judge Futey. Following the initial briefs by counsel for both sides, the judge asked for additional briefs to respond to three specific issues which were apparently important to him. Briefs have been filed in response to those issues and additional information from Mr. Graves, et al, has been allowed to be submitted. So at this point all we can say is that Judge Futey appears to be actively and thoroughly reviewing the case, but there’s no way to predict just when we'll have a ruling. The filed documents are being posted on our website.
Isle Dauphine Clubhouse The board has decided not to continue the exclusive arrangement with MMEP, but will seek to broaden use of the facility by making it available to members for various events throughout the year. All of the arrangements are not yet worked out so stay tuned for more detail. In the meantime, if you do have an event ahead for which you would like to use the facility, contact our office and we will provide as much information as is currently available. Keep in mind, there will be a charge for using the facility, but dues paying members will receive a special discount.
Board Vacancy We have a vacancy on the board and are in need of someone to fill the remainder of the term ending in May 2010. At that time the interim member could run for election to a normal three year term. If you would like to be considered for this position, please contact a board member, and/or send me a brief bio.
Next Meeting As is customary, the board will not have a regularly scheduled meeting in December. Next scheduled meeting will be Jan 21 2010 at 6:00 PM, at the clubhouse.
I would like to join the other board members in wishing all of you a safe and enjoyable holiday season. Please feel free to call on any of us if we can be of assistance. We welcome your comments, suggestions, ideas, and criticisms.
Bruce Jones
DIPOA President
Hello everyone! The Town of Dauphin Island acted quickly to get Bienville Boulevard cleared for vehicle passage and will be clearing Sehoy and Island Shore in the next couple of days. I was able to make it down to the end by the West End Beach with no problems. The police checkpoint remains located at Raphael Semmes however. Contractors are now allowed to begin repair work but only if they have the proper permitting in place available through Town Hall.
While I was out photographing Bienville Boulevard, I happened to meet up with Jeff Collier, Mayor and Corey Moore, Building Inspector. It appears FEMA will hopefully make a decision next week regarding whether or not to declare the Alabama coastline a disaster area. The threshold for funds becoming available is $5 million in damage. The mayor estimates Dauphin Island to bear approximately $4 million in damage and we are not sure of the damages incurred along Baldwin County's beaches. We do know that the Gulf State Pier in Gulf Shores took on some damage but to what monetary extent is not known at this time. Should FEMA not provide assistance, then the repairs will be the Town's responsibility for the repairs to the damage. Those two scenario's will have separate consequences. If we are afforded funds by FEMA, then the government "calls the shots" on what is done, how the sand is treated and where the sand will be placed. And if the Town (and it's citizens) bear the responsibility, the sand will end up where the Town decides. Both Jeff Collier and Corey Moore indicated they wish to put the sand back on the beach.
Here are some photos I took of Bienville Boulevard on 11-15-09. I'll be posting more updates this coming week.
REQUEST FOR PROPOSALS
The Town of Dauphin Island, Alabama is requesting applications to provide part time public works / cleaning services for Town of Dauphin Island buildings. Time worked not to exceed nineteen hours (19) per week. (Public Works office and workshop are not included in the scope of work.)
SCOPE OF WORK
1) Clean Town Hall Office and Council Chamber once a week
2) Clean Police Building twice a week
3) Clean Town Guest House upon request
Details of scope of work include the following:
1) Clean and/or vacuum all office floor areas including moldings
2) Dust all furniture, tables, desks, file cabinets, bookshelves, chairs, podiums, picture frames etc. (Not required to move boxes or documents on any surface.)
3) Empty all trash cans and place out side for pickup
4) Clean and sanitize all kitchen areas including counter tops, cabinet doors, floors, doors and appliances. (all three buildings have kitchens)
5) Clean and sanitize all bathroom areas including counter tops, cabinet doors, mirrors, floors, doors and appliances
(Town Hall has four (4) bathrooms which have a total of eight (8) toilets/urinals and one shower)
(Police Building has four (4) bathrooms with a total of four (4) toilets, three (3) holding cells with each with a toilet and two (2) showers.)
(Guest House has three (3) bathrooms with a total of three (3) toilets and two (2) bathtubs.)
6) Some special situations may come up and will be at the request of Town Staff.
7) All cleaning supplies will be the responsibility of the contractor.
All buildings will be available during regular business hours
or by appointment for tours to evaluate the scope of work.
APPLICATION DEADLINEApplications must submit by 4:30 p.m. on November 16, 2009 a sealed copy of the proposal to:
Town of Dauphin Island
1011 Bienville Boulevard
Dauphin Island, Alabama 36528
QUESTIONS AND OTHER INFORMATIONQuestions regarding the information contained in this request should be addressed to Nannette Davidson at email ndavidson@townofdauphinisland.org faxed to 251-861-2154 or mailed to the address above.
The Town of Dauphin Island is an equal opportunity employer.
ACP Real Estate, Inc.
www.acpinfo.com
REAL ESTATE SALES – VACATION RENTALS – PROPERTY MANAGEMENT
251-861-3311 Local • 866-861-3311 Toll Free • 251-861-3366 Fax
900 Bienville Blvd. – P.O. Box 1177 – Dauphin Island, Alabama 36528
Real Estate Sales: Sales@acpinfo.com
Vacation Rentals: Rentals@acpinfo.com
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