Information asked to the Board of Aquarius

The author of this message asked it to be posted in our blog. Here it is:

This email requesting clarifications (with few deletions) was sent to the BOD President Mr. Gupta almost 3 months ago. We have not received not only response but even acknowledgement of this email from the BOD.

Special Assessment

1. Did you receive the latest engineering reports based on the Building Safety Inspection Program in accordance with the Hollywood letter dated 09/01/2021?
2. Are the assessment costs based on these reports?
3. Are the assessment costs based on guestimates or bids? I assume they are based on guestimates, please correct me if I am wrong. Do you have scope of work for all items?
4. What is included in the $50k beach access door & ramp, $50k steel doors (are they special watertight doors?) and how is $50k each calculated?
5. How many square feet are the (2) roofs (I assume it is for both buildings) and why the price is increased $155k from the previous price?
6. What is the scope of work for the column repair and how is $200k calculated?
7. Contingency in construction is a certain percentage of the total cost. How this contingency is calculated?
8. Please explain why people who will pay entire assessment lump sum by 12/01 have to pay for the $2.5 mil. loan interest (5%).
9. Please provide a breakdown of overages and how they are calculated.
10. If all pricing is based on guestimates why we have to finalize it by December? After we receive bids from bidders the special assessment total price could be completely different and some people have to get another loan? Does it make any sense?
11. Could you create a site where all current and future scope of work and bidding information will be posted and updated to keep it transparent? If not, could you provide this information to us?

2022 Budget

1. Utilities. Have other providers besides Comcast been contacted and can we get their quotes?
2. Contract services. Need more explanations and bids from different contractors rather than accept existing contractors increased contracts.
3. Insurance. Our current agent increased $83,323 pricing. Why don’t we get bids from other insurance providers?
4. Reserve income $675k. I understand it was rejected and we also would reject it.
5. Cable income. How we get this income and who provides it?
6. Valet services in the amount of $130k. Why is it such a huge amount? And our valet income is $6k only, we need explanation of this. This item is missed in the variance column and the contract services total is misleading credit of ($35,372) in lieu of additional amount of $94.628.

Hollywood, FL January 6th., 2022

Leonid Smilyansky, unit #607S.

lsmall5692@gmail.com

,o0o.