Dear Grand Summit Owner:
We hope this email finds you safe and well. We’d like to take a few minutes of your time to provide an update on the current COVID-19 situation, its impact on the operations of the property, and what your Board is doing on your behalf to address these challenges. Please know that you remain a top priority and we want you to know how much we value your patience and cooperation as we navigate these difficult, unprecedented times.
As mentioned in earlier communications, Summit County is urging all non-permanent residents to leave and/or avoid traveling to Park City. Recently, Utah’s Governor Herbert issued an Executive Order establishing a requirement for individuals entering Utah to complete a travel declaration form. The electronic alert instructs drivers to complete a declaration survey available at entry.utah.gov. Passengers traveling into Salt Lake City International Airport will also be directed to complete the same survey before leaving the airport. As of today, the Summit County stay-at-home orders have been extended to May 1 and Vail is hopeful to take reservations on June 1. As the status continues to evolve with COVID-19, we don’t know for sure how long our property will be closed.
As fellow owners, we do not take HOA dues increases lightly. We are focused on being budget-minded, staying financially sound, and meeting our legally binding financial obligations. Fortunately, 2019 and early 2020 was a stellar period and our occupancy was high. We saw increases in actual costs that were attributed to increased occupancy and this was evident in the cost versus budget numbers for the May 1, 2019 – April 30, 2020 period. The current budget, in effect from May 1, 2020 through April 30, 2021, was prepared in February, sent to owners for approval via voting materials on March 17, 2020, overwhelming approved by owners that voted, and ratified at the Annual Meeting held on April 4, 2020. A good portion of the 2020/2021 HOA dues increase was to prepare for our CAPEX obligations, notably the pool house/locker room/rest rooms that we are legally required to have in place in 2023. The Board thought it was much easier on us all to begin funding this building, and other CAPEX, over the course of many quarters/years versus having to burden owners with a Special Assessment.
We realize that some owners may be facing financial hardship during this global pandemic and we want to help where we can. We have been working diligently to cut costs where possible. Having said this, our fixed-cost obligations remain, and we need to be ready to meet your needs when the time is right for you to travel to Park City again.
It is a very real possibility that the resort will be closed for some period, beyond this historically slow shoulder season and we continue to look for all potential savings. On March 25 we posted a recap of our efforts to our website. It is important to note that these are projected savings; this is an extremely fluid situation and we want owners to know that these are not yet realized, and the actual costs could change at any time.
* We have not back-filled five salaried positions: pool attendant, pool maintenance, inventory attendant, owner liaison and engineering. We expect to save approximately $11,000 per month.
* We have reduced the Common area cleaning hours from 160-180 hours per week to 40 hours per week. This move is expected to save approximately $7,580 per month.
* Pool towel contract: The pool is closed, and therefore our only obligation is the rental rate of $51.98 a week. This could result in a savings of $2,450 per month.
* Waste removal is now “on call”. There is a potential savings of $1,600 per month, depending on usage.
* Earlier, we announced that we had locked in gas billing for the month of March and we expect a year over year savings of $6,000.
* We are currently reviewing our security options and expect to add round the clock coverage. This could result in increased costs.
* All lights and pilot lights are off in vacant rooms.
* Windows are closed and HVAC units, when appropriate, are turned off.
* Any remaining lighting not considered a safety factor has been turned off facility-wide along with two of the five elevators.
* All centralized room supply/exhaust air handlers have been shut down.
* The ground level central air handler has been shut down, but we are still supplying tempered air to these areas due to nightly temperatures.
* Since we have minimal demand on hot water and heating, we have reduced output from our central plant from 180 to 140 degrees.
* Central kitchen, Farm and Redtail have turned off all gas appliances.
* Heating of pools and spas has ceased.
We will be able to evaluate the utility savings these efforts have provided once we receive the next billings.
The situation continues to change, and we are adapting as best we can, as fast as we can. We will continue to keep you informed as we have news to share. For detailed and accurate information about these updates and more, please visit www.gsowner.com and navigate to the HOA News page. Please contact Stephen Polvere at email@example.com or (435) 252-5520 if you have any questions.
Your Executive Board