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Business and Legal
Subject: Special Assessment fees being charged at Bahamas resorts

Posted by: Andy Banerjee
Host:
IP #: 59.93.210.8
E-mail: <abanerjee2@juno.com>
Date Posted: October 01, 2008 at 01:51:41
Subject: Special Assessment fees being charged at Bahamas resorts

Message:

Can anyone give me some information on whether the Special Assessment fees
being charged to resort owners in the Bahamas are legally binding ? Recently I
got a general notice from Taino Beach Resorts at Freeport, Bahamas (of which I
am a resort timeshare owner) regarding this special assessment fee. Apparently
this notice was sent to all owners of Taino / Ritz in the end of 2006. They
are saying that they have got approval from Govt. of Bahamas to demand this
fee (of about USD 1100) from the members, and that non-payment of this fee
will lead to cancellation of resort membership. However they are yet to show
me the government letter.

Apparently this is for construction and innovation purposes in the aftermath
of 3 hurricanes in the 2004-05 season and to make the resort more hurricane-
proof. They are also saying this will enhance the valuation of the resort, and
seek a higher rating from RCI.

Anyone has any information on this ? Any Ritz / Taino owners who have received
similar notices ? Let us share our experiences on this in this forum.

Thanks,
Andy-