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Colony owners vote in support of scrape and build

 

STEVE REID
Editor & Publisher
sreid@lbknews.com

In a non-binding poll of Colony Beach & Tennis Resort unit owners, 118 voted in favor of a newly constructed Colony and 78 voted in support of rehabilitating the 40-plus-year-old resort founded by Murf Klauber.

Colony Association of Unit Owners President Jay Yablon said the poll was held to provide direction and clarity in the midst of heated debate within the Association whether to rehab and open or scrape and rebuild the property. The scrape and rebuild as new option did offer the caveat of preserving a few units along the beach, which could not ever again be permitted if leveled.

“This was meant to clear the air and get facts and it did just that,” said Yablon.

Yablon called the poll a non-binding advisory poll to help the nine-member board arrive at a development decision.

Out of the Colony’s 237 units, 50 are owned by Andy Adams, thereby conferring Adams with 50 votes. Adams voted to renovate, so out of the 78 votes to renovate, 50 were cast by Adams.

For Yablon, it tells him that if Adams can grow amenable to a new construction approach and switch his vote, it would give the Association close to the 75% threshold needed to make a legally binding decision.

“It is time for redevelopment partners to cut a deal with Andy and bring him over and that creates the momentum to reach the legally binding number we need to move forward. Then the message is clear to developers. You sit down with Andy and get him to agree or negotiate to rebuild,” said Yablon.

The Association holds its annual meeting May 7 when the election of 5 of 9 board seat are up.

Yablon said he would like to determine by the annual meeting which developer the Association has in mind and have the group working with Adams as well.

Yablon described his own opinion about the state of affairs:

“We need to rebuild at this time. I started in the rehabilitation camp initially two years ago. Since then, I spent enough time hearing what is feasible and not from people in the business. I have seen examples of what can be done and now am much more comfortable that we can meet 21st century standards for a resort by a new build. If we go down a rehabilitation of the existing property route then even if we could overcome FEMA, we would open something up and find it is not competing in the marketplace. For owners looking to have a vacation property, they will be carrying a property that is not generating income.”

 

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