ANNUAL MEETING & ELECTIONS

The Grandview Palace of New York Condominium will have its annual unit owners’ meeting and elections on Sunday August 6, 2017. It will be held at:

Sullivan Seelig Theatre

Sullivan County Community College

SUNY Sullivan Campus

112 College Road

Loch Sheldrake, New York 12759

1:00 pm – 4:00 pm

The door will open at about 12:30 in order to allow sufficient time for unit owners to sign-in. ONLY GVP Unit owners will be permitted to attend (max of two people per unit). You must bring photo ID.

Only unit owners who are in good standing with GVP will be eligible to vote or run for office. If you are in arrears of your common charges you need to submit the payment to Grandview’s accountant. Please make out your Maintenance Fee check payable to Grandview Palace and Include YOUR UNIT NUMBER. Please do not bring checks to the meeting. Payment at the meeting will only be accepted as an exception. The address to send the payment is:

Accountant

Goldstein Lieberman & Company, LLC

Crossroads Corporate Center, Suite 700

One International Boulevard

Mahwah, NJ 07495

To check the status of your account and find out if you have a balance due, please contact Board by emailing: gvpjusticemail@gmail.com; or calling at: (561) 270-7762.

Vote to Rebuild

Pursuant to Article VI, Section 3 of the By-Laws, seventy-five percent (75%) or more of the unit owners must vote to proceed with repair or restoration of the Property if seventy-five percent (75%) of the units were destroyed or substantially damaged in the April 14, 2012 fire.

In the event that seventy-five percent (75%) or more of the unit owners vote YES to rebuilding, it is estimated that the contribution cost per unit owner to rebuild would be $165,000.00, as no insurance proceeds are yet available as of present. In the event that a unit owner votes YES, but does not have proof of certified funds available within 30 days of the August 6, 2017 Unit Owners Meeting, their vote shall automatically be considered a NO.

Vote to Sell

Pursuant to Article VI, Section 3 of the By-Laws, in the event that seventy-five percent (75%) or more of the unit owners do not resolve to proceed with repair or restoration of the Property, the Property shall be subject to an action for partition, meaning that the net proceeds of its sale would be divided by Insurance Trustee among the unit owners.

In order to avoid the need for an action for partition, the Board of Managers is seeking a vote from the unit owners for their approval for the Board of Managers to take whatever action is necessary to sell the Property prior to any resolution of the ongoing insurance litigation, at no less than the net appraised value as set forth in the appraisal issued by Commercial Appraisal Service, dated May 30, 2016, and accordingly have the Insurance Trustee divide said proceeds at the appropriate time.

It should be noted that such a sale would also avoid the expense and liability of the clean-up of the asbestos and debris on the Property, which can run up to $4,000,000.00. Additionally, it is contemplated that the proceeds from such a sale would allow for the DISCONTINUANCE OF MONTHLY MAINTENANCE FEES in Common Charges for the foreseeable future.

Elections

Five seats on the Board of Managers are up for election at this time, including those currently occupied by Ivanna Johnson, Janice Teisch, Rose Storch, Pat O'Neill and Sharlene Perez. Pat O'Neill and Sharlene Perez had been appointed by the Board to complete current term.

If you are interested in running for one of these seats, you must be in good standing and submit a brief (no more than one page) résumé of your interest and qualifications no later than July 23, 2017. All résumés must be typed and no longer then one 8 ½ x 11 inch sheet of paper. Résumés should be sent to gvpjusticemail@gmail.com or P.O.Box 505, Willington, CT 06279-0505.

A short “Meet the Candidate” question and answer discussion will take place at the meeting for all candidates who had submitted a résumé.

If you are unable to attend the annual meeting August 6th, please mail in your signed and notarized proxy form to P.O.Box 505, Willington, CT 06279-0505.

I look forward to seeing you at the upcoming meeting.

Very truly yours,

Ivanna O Johnson, President

Board of Managers of Grandview Palace of New York Condo