The Summer 2008 Edition of the Venetia Voice should have been sent to most residents via email, but in case you missed it, here’s what’s inside this issue:

  • The Venetia Faces Budgetary/Foreclosure Crisis
  • Roof Update
  • Committee Updates
  • Manager’s Corner by Fabie
  • My Turn - Wal-Mart may move into the ‘hood
  • and much more!

Download the PDF version by clicking here or

VENETIA BUDGETARY/FORECLOSURE CRISIS

Probably you all watch the news, and know about the national foreclosure crisis. Florida, and Miami are leading the crisis (second only to Las Vegas, Nevada) in foreclosures and depressed real estate values. The Venetia, with millions of dollars in outstanding loans and significant structural and mechanical problems, while not in the most serious condition in town, is now facing severe financial shortfalls.

There are two major reasons why this is occurring at the Venetia and it is important to understand them:

      1. There are approximately 70 unit owners who are not paying their monthly maintenance fee. This means we have a shortfall of $47,000 in revenue every month!

      We have been able to offset some of our losses by savings we made on our insurance premium and by increasing our collection results, but WE WILL REACH A POINT WHERE WE CAN NO LONGER PAY OUR MONTHLY BILLS UNLESS PEOPLE PAY.
      2. In spite of all efforts and pleas by the Venetia Board and Management, many unit owners have still not paid their Assessment. Many seem to believe that they can ignore the Assessment without consequence, or that they can “wait and see” what happens.


The purpose of the Assessment was to make up for our budget shortfall from 2007, to remove the burden of $1 million loan payments and to make urgent, essential repairs. We have not collected enough to do any of these things completely.

The Assessment budget did contain some funds to cover the possibility of a certain percentage non-paying owners, but it was designed to cover at most a 15% non-payment rate on the Assessment, not a 45% non-payment rate on the Assessment, along with a 20% non-payment on Monthly Maintenance.

That is a little more than half the building —only every other unit owner— paying on the Assessment, and only four of every five unit owners paying the regular monthly Maintenance.
You can see how terribly unfair this is, especially for those who have struggled, and in many cases borrowed money, to pay in full for their part of our common obligation.

We cannot fix a broken water pipe, for example, if we don’t get the money from unit owners to pay the plumber. “Wait and see” will sink the ship. If you haven’t paid your Assessment, you are burdening those of us who have paid, and you are putting our Venetia at risk for even greater expenses and worse consequences for all owners. We cannot “wait and see.”
This situation leaves little choice but for owners who have paid to insist that their non-paying fellow owners find a way to pay their share too, or to risk lien or foreclosure and negative credit consequences that will linger long after this crisis is over.
from unit owners to pay the plumber. “Wait and see” will sink the ship. If you haven’t paid your Assessment, you are burdening those of us who have paid, and you are putting our Venetia at risk for even greater expenses and worse consequences for all owners. We cannot “wait and see.”
This situation leaves little choice but for owners who have paid to insist that their non-paying fellow owners find a way to pay their share too, or to risk lien or foreclosure and negative credit consequences that will linger long after this crisis is over.

What has your Board done to respond to this situation?

  • We are filing against the non-payers as fast as possible (although our legal costs have skyrocketed as a result.) This past week, 44 units were sent to our attorneys for collection. These are units owned by people who pay monthly Maintenance, but who have not paid the Assessment. If you are one of these people, your property will be liened and eventually foreclosed upon. Next week, an additional 40 non-paying units will go to our attorneys for legal collection proceedings.

  • We have added an obligation of 18% interest on unpaid balances.
  • We have set up a program where realtors can help arrange short sales with the mortgage companies to get the units sold to new owners and get them back to paying maintenance.
  • We are demanding that renters in foreclosed units pay directly to the association.
  • We have offered payment plans to people who are behind on the Assessment, but current with Maintenance.
  • We are going to continue to pursue owners who are foreclosed even after banks take ownership.
  • We are going to be reporting bad debts to credit agencies.
  • We are attempting to evict renters who rent from non-paying owners or to obtain assignment of their rent to the Association.

And while we are facing all these challenges, we are trying to do all we can to keep Venetia safe, comfortable and attractive to new buyers and current owners without deviating at all from the budget. It’s a HUGE challenge, but we have made significant progress.

  • In the past year we have paid off an $800,000 debt which would have added another $60 to each unit’s monthly maintenance payment.

  • We have installed new cooling towers. (The upper hallways temperature is a separate mechanical issue which will require further funds, but is stable and not a pressing problem.)
  • We have the new roof fully paid for and it is in the process of being installed.
  • We have a terrific new manager who is giving us 120%.
  • These are HUGE improvements and will eventually pay off when the economy rebounds.

We will be holding a Town Meeting on Wednesday, July 16, 2008 to discuss our financial situation and we will try to answer questions and get your feedback on what direction the Association should take to best serve you, the owners of Venetia. We are all in this together. [DATE UPDATED 7/11/08]

Board of Directors Vice-President Stacey Stokes has resigned her position. She has been a tireless volunteer in the efforts to turn the Venetia around, and she will be missed. The Board of Directors and the Management both extend their deepest appreciation and thanks. The Venetia Board of
Directors will be appointing a replacement, along with a new Advisory Board member.

PROJECT UPDATES:

CLEANING THE AC CLOSETS: The air conditioning closets on many floors have become storage for residents’ personal items such as brooms, vacuum cleaners, fishing poles, etc. These closets need to be emptied of all personal items as soon as possible. All items being stored in these hallway closets will be removed and disposed of. For those of you who have the AC closets
located within your units, the same concern applies. Be safe!

NEW WASHERS AND DRYERS: All new washers and dryers have been installed in our laundry rooms throughout the building. Some of those installed had installation glitches however, so please call the Management office if you notice any of them not working. The company has been very responsive about fixing any problems quickly.

NEW ROOF: Work on our new roof resumed July 6th. It is expected to be completed within 6 weeks.

SECURITY: The Kent Security staff has been doing a good job. They have been working closely with Board, Management and the Security Committee, which is now headed by Joey Corona, replacing Gabriel Mendoza. Many thanks to all the Committee members for their participation. It is invaluable to have resident and owner involvement in making the Venetia safer and more secure. We also welcome our new Post Captain, Lazaro Perez. Captain Perez is a very experienced officer whose work has
had an immediate, positive impact on our security and enforcement.

A major security concern in the building is an increase in the non-authorized or non-approved move-ins of renters or others. Remember that residential elevators may not be used for moving at the Venetia, so, if you are planning a move you must set an appt. with the Management office for use of the freight elevator during the hours allowed for moving in or out (10am–5pm).

Some of the illegal move-ins are happening at off-hours, late at night, or just outside of moving hours. Moving activities during any other periods provide a good indication that the parties involved are not authorized or safe move-ins.

It is important that residents call the front desk to alert security to all possible illegal move-ins, as some of these may involve “squatters” who learn of unoccupied or foreclosed units, and move in to conduct illegal activities or to scam free housing. We help our security and ourselves by being aware of what is going on around us and on our floors and by picking up the phone and making a call about suspicious activity of any kind.

Two motorcycle thefts have been reported recently. Neither was from the Scooterville area. All parking in all areas is at your own risk, but common sense dictates locking bicycles, scooters, and motorcycles parked in the garage.

GARAGE: Please note that garage and parking rules are being enforced, as announced in the Spring Edition of the Venetia Voice, and will continue to be. Scooters and motorcycles that are parked next to cars, in unit’s parking place (with car) will be booted or towed. If you have a parking place that you do not ever use for a car, you may place one, and one only scooter or motorcycle in it. If you have no place to put your motorcycle or scooter, come to the Management office to lease a space in Scooterville, on the Mezzanine parking level. Scooterville is being expanded to accommodate many new scooters, and up to eight larger motorcycles. (Anything larger than 150cc is a motorcycle.)
2ND FLOOR RESTAURANT IS IN PROGRESS: The construction of the new coffee, salad and sandwich shop continues in spite of construction delays. The Girlzz of Sandwich is hoping to open by the end of August.

OFFICE OR COMMERCIAL SPACES FOR RENT: There are still a few offices available on the second floor. See Management Office or Dr. Jay Hess, who owns the spaces along the Mezzanine Lobby.

MANAGEMENT MESSAGE

By Fabie Verona

Just a friendly reminder to all unit owners that you may schedule your payments on line — it’s easy to use, and it’s FREE!

To enroll, simply visit either www.thecontinentalgroupinc.com, or your community web-site: www.continentalconnect.com/venetiacondominium and select “Pay Your Association Fees”. All you need in order to register is your 14-digit homeowner account number located on your payment coupon and the ‘Last Name of Official Owner’. After completing the registration process, you will be prompted to select your payment type (‘1-Time’ or ‘Recurring’).

You may schedule a recurring payment for any outstanding balance, or for a pre-determined amount. ‘One-time’ payments can be for any amount. Schedule any type of payment, including special assessments.

KilknPay website is secure 24/7/365, offering convenience and flexibility.
Payments are recorded to an owner’s account within two (2) business days of receipt.
NO CHECKS to WRITE and MAIL
INSTANT ACCESS, via the Internet, at any time of the day.
Cash is deposited into the association’s bank account and posted to the owner’s ledger as soon as funds are verified.

EMAIL CONFIRMATION of each payment, providing a quick and accurate audit trail for the homeowner.

Ability to edit/cancel/view pending payments as well as view the payment history.

Ability for TCG to RESEARCH PAYMENTS ON-LINE, including images of checks and/or coupons.

You may view your homeowner’s account anytime by selecting “Billing”. Should you have any questions, you are also able to contact Customer Service: (Broward) 954-378-1099, (Dade) 305-917-0791, Toll Free 866-3781099, or the Venetia Management office.

THE 4th OF JULY, INDEPENENCE DAY PARTY was a great success. Mike and Norma Shelow, owners of Mike’s Restaurant, hosted a party for Venetia Residents. They furnished free hot dogs, hamburgers, and low-cost beer for the occasion. Everyone had a fun evening, thunderstorms not-withstanding,
and the skies cleared for fireworks viewing from our pool deck. Thanks so much, Mike and Norma! We remembered why we love living here!

MY TURN

by “Anonymous”-a Concerned Resident.

Am I the only one who has thoughts and feelings about the potential of a Wal-Mart as the major “anchor” at the future City Square Retail project?

(The 2 Herald blocks now empty, just West of the existing Herald building, between Herald Plaza and North Bay shore Drive and from NE 13th Street to NE 15th Street)

Yes, this is being planned and discussed now. Remember, the structure will be 120′ feet high, about 12 stories, (being presented as 5 stories). The northern block will be primarily PARKING, the southern block possibly a Wal-Mart, with other retail.

Now is your opportunity to share your opinions and be counted. It’s true it takes YOU to make a difference in your neighborhood. If you fail, you can be stuck with a neighborhood you never wanted or planned!

Please email your comments to msarnoff@miamigov.com (Commissioner Marc Sarnoff, our District 2 Commissioner)

Or write:
Commissioner Marc Sarnoff
District 2 -City of Miami
CITY HALL
3500 Pan American Drive
Miami, FL 33133

Note, view the animation to see the impact on downtown Miami in the corresponding article here. (EDITOR NOTE)

EXPRESS YOUR POINT OF VIEW

*** My Turn Seeks Submissions. My turn is a short, occasional, column in the Venetia Voice, written and submitted by a Venetia renter or owner with a unique viewpoint, which is then selected for inclusion by the editors because it might be of interest to all. Please submit articles by email to
sharondodge49@gmail.com or by print at the Venetia Management Office.

LECTORES HISPANOS – Se necesita ayuda con la traducción al español de “La voz de Venecia.” Favor de contactar la oficina lo más pronto posible.