Letter to Shareholders RE: Summer 2015 Restoration Project

by admin on October 15, 2015

To:  All Shareholders

First, let me thank you for the numerous emails sent expressing your appreciation for the many voluntary man hours the Board and specifically Marcy have put in to insure Palm Worth is getting the job specified in the Bid Documents.

This past March Lenny Lilyholm and his committee did a walk around/inspection of the building with the engineer, Jamie Weil.  It was determined at that time that there would be a need for stucco and, in some cases, concrete/rebar repair.  The bid documents were prepared by our engineering firm, Slider, and reviewed by our lawyer, which included under Section C, Stucco-Unit Cost Quantities Estimated, Items 1 & 2, and under Section D, Concrete Repairs Quantities Estimated, Items 1 thru 6.  These costs were a part of the original contract that was awarded to Munyan Painting & Restoration Co., a company highly recommended.   However, upon opening up areas such as the sills and behind hurricane shutters additional chipping/removal was necessary.  The amount of damage to the building caused by the installation of the hurricane shutters and what can be done to prevent this in the future will be on the agenda at the scheduled Oct. 23rd Board meeting.

I am advised that the noisier part of the work will be completed by 1 Nov., if not sooner, and the

finishing of the painting including the walkways will be completed by the end of November.

All the electrical work to install new electrical boxes and conduit should be completed within the week with the inspection and repair of these areas to follow.

At no time has this project lack professional engineering oversight nor lack the daily presence of our Manager, Marcy, who we increased to 5 days a week during contract period.  I am sorry that Kevin was misunderstood concerning who determined the need to open up areas that needed stucco or concrete repair.  The engineer we are paying to supervise our contract is the one who makes that determination.  Marcy has kept me abreast of any and all problems that may have arisen and has supervised the project, coordinated with the contractor on their scheduling of work, and kept shareholders informed of their need for shutter repairs, etc.   She worked with the contractor in ensuring they did cleanup each day and on all Fridays they quit their work early to do a thorough cleaning from top to bottom.

The interior of Palm Worth was last painted in 2005 and not by a professional painting contractor but by the maintenance man at that time, Mark, and his son.  No restoration work was done – only a couple cracks were filled in.  As best as we can determine the interior was not painted professionally with engineering supervision in nearly 20 years.  I believe the condition of the walls along the interior walls verifies the importance of maintaining this 50 plus building located on the ocean on a scheduled maintenance program.  At some point, restoration will and must be done.  The exterior of Palm Worth (facing the park & the hotel) was painted with restoration done where needed in 2009 by Kay Painting & Restoration.

It is the responsibility and right of the Board to ensure the stability and maintenance of Palm Worth.  This Board, as a whole, is dedicated to maintaining and ensuring that Palm Worth is kept in a condition that provides all of us many more years of enjoyment.

I have scheduled a Board Meeting Oct. 23rd at Palm Worth and one of the items on the Agenda will be a further report on the Painting/Restoration Project.

Juanita Leary

President

Palm Worth Board of Directors

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