The AGM took place last Saturday, with a record 15% of owners represented by proxy. We appreciate the trust and support of all participating owners. Currently, Abanca and Sintonizavalor still hold the majority of votes (Abanca 10,46% and the Solis group 20,15%), but more owners are getting involved.
During the AGM, we shared the results of our recent survey, highlighting the top 5 concerns of owners. We’ve requested to attach the survey results to the minutes for everyone to review. We are focusing on these main points and have already made progress on several:
- During the AGM, we approved using part of the reserve fund for sidewalk repairs;
- The board has implemented several significant improvements based on AGM discussions;
- Install water meters on the boreholes to better control water consumption.
The meeting was productive, reflecting the collective input of the residents. We thank Erich Dähler and Luís Chambel for their excellent work in improving the functioning of the AGM. We are very satisfied with the progress made, as owners had significant input on the budget and Reserve Fund decisions.
Once the minutes are approved, all owners will receive an email with detailed discussions. Here’s a summary:
Hotel/Golf and BS Villas: Dr. Sergio Aleixo, the new owner, introduced himself. He aims to complete the hotel by 2026 but will not manage it. Concerns were raised about his financial plans. We requested that he communicate his vision to all owners via email.
Accounts and Budget: The 2023 accounts were approved despite our reservations. The 2024 budget was also approved, with several adjustments made by the owners. For example, €15,000 for street cleaning was removed. We prefer first fixing the sidewalks instead of cleaning.
Reserve Fund: The proposal to use €62,355 from the Reserve Fund was approved, including €20,000 for repairing the sidewalks. We insisted on repairing all sidewalks throughout the resort. In the next AGM in December, we will decide if we need more money for this topic.
Abanca: The condominium administration has asked the condominium’s lawyers (Raposo & Subtil Advogados) to draw up a legal opinion on a solution for returning the common parts of the BSR (reception, swimming pool, heliport, children’s playground and parking lots) from Abanca to the condominium. The various legal solutions presented were rejected by Abanca. However, Abanca reaffirmed its will to return the common parts to the resort. The lawyers and Abanca agreed to find a new solution.
Municipality of Obidos: Eduardo Montenegro informed the Assembly about a recent meeting with the Municipality of Óbidos, where the municipality acknowledged a debt of around €150,000, with €33,000 still valid. The municipality also confirmed, BS Villas and other entities, time-barred debts related to water consumption. Given the condominium’s interest in the prompt finalization of the Bom Sucesso Resort works and the inadvisability of pursuing litigation over time-barred debts, the Board suggested focusing on completing the work reception without pursuing legal action. However, a condominium owner criticized the administration for failing to collect the arrears from the municipality over the years.
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Plot Maintenance: Mr. Eduardo Montenegro has mentioned that the administration will notify all owners to maintain/clean their plots. We emphasized that this also includes the plots of Abanca and Sintonizavalor and that we would like to be updated. At 29th May we already send a letter to the administration about this subject. The proposal of Penalties will be discussed in the AGM in December.
Accounting: We have asked the question why we pay Cátia Sobreiro fulltime for accounting whereas she does a lot of work for BS Villas. Mr. Eduardo Montenegro refuses to answer this question because it was not on the agenda.