The Bay Water and Villa Condo Association Board Members conducted their offical weekly meeting this morning and there are several items that we would like to share with our homeowners regarding the status of Pointe West.
IRC Update:
IRC’s estimators have completed a detailed cost analysis of the interior and exterior damage of the buildings. This evaluation is broken up by unit which includes a room by room repair estimate, pictures, moisture readings and thermal images.
IRC has hired a structural engineer to review and report findings on the structural integrity of each building including the foundations and roofs. This review process is underway and the findings will be shared with the owners once they have been reviewed and finalized.
Condominium Association Insurance Update:
Insurance adjusters have submitted interim payment requests for the Bay Water Association for $800,000 and $1,200,000 for the Villas Association. We anticipate receiving these funds by the end of the month. This does not close our insurance claim but allows us access to funds that are needed to start the repair work.
Insurance adjusters will be on property this week to start the interior walk thru and begin their assessments of the interior damage to each unit. The completion of this task will allow the board to compare the insurance adjusters estimate against IRC’s and resolve any discrepancies before the claim is closed.
The Board of Directors is still awaiting a response from the insurance carrier on their interpretation of the extent of coverage.
Reconstruction Update:
The Board of Directors has hired Cotton, a National Disaster Recovery company, to begin the process of removing the water damaged material in each unit based on the recommendations of IRC’s and a licensed hygienist. Our insurance carrier has only released two buildings for this work at this time, building 26570 and 26560 Bay Water Drive. Over the weekend, Cotton began securing our owners personal belongings in rooms that were not damaged so that they can start removing items such as wet sheetrock, carpet, trim, etc. We anticipate that the removal of the water damaged materials in 26570 Bay Water will be completed by October 15. Cotton will begin working on 26560 Bay Water Drive on October 15 and should be completed by October 21. We plan to obtain approval on the remaining buildings during our meeting with the insurance adjusters this week. We will post a schedule of the remaining buildings once we have received approval from the insurance company.
Homeowners Meeting Update:
The homeowners’ meeting to discuss Hurricane Ike repairs is scheduled for November 1 from 11 AM to 3 PM and will be held at Pointe West. An agenda is in the process of been finalized and will be posted to the blog by the end of the week.
IRC Update:
IRC’s estimators have completed a detailed cost analysis of the interior and exterior damage of the buildings. This evaluation is broken up by unit which includes a room by room repair estimate, pictures, moisture readings and thermal images.
IRC has hired a structural engineer to review and report findings on the structural integrity of each building including the foundations and roofs. This review process is underway and the findings will be shared with the owners once they have been reviewed and finalized.
Condominium Association Insurance Update:
Insurance adjusters have submitted interim payment requests for the Bay Water Association for $800,000 and $1,200,000 for the Villas Association. We anticipate receiving these funds by the end of the month. This does not close our insurance claim but allows us access to funds that are needed to start the repair work.
Insurance adjusters will be on property this week to start the interior walk thru and begin their assessments of the interior damage to each unit. The completion of this task will allow the board to compare the insurance adjusters estimate against IRC’s and resolve any discrepancies before the claim is closed.
The Board of Directors is still awaiting a response from the insurance carrier on their interpretation of the extent of coverage.
Reconstruction Update:
The Board of Directors has hired Cotton, a National Disaster Recovery company, to begin the process of removing the water damaged material in each unit based on the recommendations of IRC’s and a licensed hygienist. Our insurance carrier has only released two buildings for this work at this time, building 26570 and 26560 Bay Water Drive. Over the weekend, Cotton began securing our owners personal belongings in rooms that were not damaged so that they can start removing items such as wet sheetrock, carpet, trim, etc. We anticipate that the removal of the water damaged materials in 26570 Bay Water will be completed by October 15. Cotton will begin working on 26560 Bay Water Drive on October 15 and should be completed by October 21. We plan to obtain approval on the remaining buildings during our meeting with the insurance adjusters this week. We will post a schedule of the remaining buildings once we have received approval from the insurance company.
Homeowners Meeting Update:
The homeowners’ meeting to discuss Hurricane Ike repairs is scheduled for November 1 from 11 AM to 3 PM and will be held at Pointe West. An agenda is in the process of been finalized and will be posted to the blog by the end of the week.
