Tuesday, March 19, 2024

  FOR FULL ACCESS TO SITE CONTENTS - PLEASE REGISTER

 

2023 ANNUAL MINUTES HERE

12/2/2023 BOARD MINUTES HERE
 

2024 BUDGET REPORT AND POLICY STATEMENTS CAN BE FOUND HERE

PRESIDENT'S ANNUAL LETTER CAN BE FOUND HERE

2022 AUDITED FINANCIAL STATEMENT HERE

NEW PAGE--OWNER FORMS

FORMS TO BE SUBMITTED FOR MULTIPLE REASONS INCLUDING SHORT
TERM RENTING, GUEST AUTHORIZATION AND MOORING REQUESTS ARE
NOW AVAILABLE. SEE OWNERS FORMS TAB.

NEW PAGE--ARCHITECTURAL COMMITTEE

Matters involving the Committee

 

DO NOT FEED THE DEER. SUBJECT TO A FINE.

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CATALINA ISLAND WATER TUTORIAL HERE

FAQS RE WATER HERE

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SCEHEDULE OF FINES HERE

UNFORTUNATELY, THE MOST FREQUENT VIOLATORS ARE SHORT TERM RENTERS. THE SECOND MOST FREQUENT VIOLATORS ARE THE CHILDREN AND GUESTS OF OWNERS WHEN UNACCOMPANIED BY THE OWNERS. VIOLATIONS BY OWNERS THEMSELVES HAVE BEEN INFREQUENT. HOWEVER, OWNERS ARE RESPONSIBLE FOR ANYONE THEY CAUSE TO BE PRESENT AT HAMILTON COVE. IT IS PARTICULARLY UNFORTUNATE WHEN OWNERS ARE PRESENT AT HAMILTON COVE AND THEIR ENJOYMENT IS DIMINISHED BY OTHERS VIOLATING THE RULES.

NORRIS BISHTON, PRESIDENT

SUMMARY OF INSURANCE 2023-2024 HERE

LEARN ABOUT HAMILTON COVE HERE

LARGE ITEM PICK UP HERE

DO NOT PLACE LARGE ITEMS NEAR OR IN THE
TRASH BINS UNLESS YOU HAVE DONE THE FOLLOWING:

Each Unit or residence at Hamilton Cove is allowed three large item pick up calls per year. A maximum of two items may be included for each call.  Items included in this program are furniture, appliances, BBQ grills, bikes without the tires and e-waste products such as TV's, computers and printers.  To schedule a pick up an Owner should call Avalon Environmental Services at 310-510-0240.  Avalon Environmental Services will let the Owner know which day it will be picking up the item.  Pick up days are Tuesday, Wednesday and Thursday.  The item needs to be taken up to our maintenance building area and placed near the large trash bins.  On a piece of paper attached to the item the owner should write the date the item will be picked up and their unit or residence number.

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FINANCING AND REFINANCING A UNIT

    Some Owners and prospective Owners have difficulty financing their Units.  The problem is that some lenders are concened that Hamilton Cove is a condotel.  Hamilton Cove is not a condotel and it does not meet the definition of a "condotel". The Association does not have a rental pool or a rental desk.  It does not participate in rentals in anyway.The second problem is that a few Units remain as subleases.   Lenders normally require an Owner/Sublessee seeking to refinance or a buyer of a subleased unit to purchase the fee.    

    With regard to subleases, the Association informs lenders as follows:

The Association owns the land where the project is located.  The Association has transferred a condominium interest in fee to most of the Owners. The remaining  few Owners are purchasing the fee interest in their condominiums over time by paying the Association $419.67 a month.  At any time they can pay the remaining balance of the purchase price and obtain the fee interest in their condominiums. These Owners currently have an undivided fee interest in the land where their unit is located and the Common Area. When an Owner purchasing his or her fee interest by monthly payments to the Association sells or refinances his or her condominium, the balance of the purchase price is paid, and the Association then transfers the fee interest in the condominium to the Owner.

    The Association continuously receives forms from prospective lenders which it has to fill out.  While many of the questions are similar, no two forms are the same. The Association will try to assist Owners or prospective Owners with their efforts to obtain a loan.  The best way to obtain assistance is through an e-mail to the Association describing the problem.

    AS UNITS ARE FINANCED OR REFINANCED THE ASSOCIATIONS ATTEMPTS TO LEARN THE IDENTITY OF THE LENDER AND LOAN BROKER, IF ANY.  CONTACT THE OFFICE IF YOU WANT THIS INFORMATION.

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A NUMBER OF OWNERS PARTICIPATING IN THE MASTER LAND LOAN ARE EXERCISING THEIR OPTION TO PURCHASE THE FEE, TAKING ADVANTAGE OF LOW INTEREST RATES. INTEREST ON THE MLL IS 6.25%.


 FINANCIAL STATEMENTS

 

MONTHLY COMPILED FINANCIAL STATEMENTS AVAILABLE.
GO TO FINANCIAL STATEMENTS TAB.


TRANSFER FEES APPROVED 4/9/2022

   

    i)  Sale or transfer of a Unit by a Fee Owner–$500;

    ii) Refinancing by an Owner--$500;

    iii) Financing a Unit by a Purchaser to be paid by Purchaser–$500;

    iv) Payment of his or her pro rata share of the Master Land Loan by a Sublease Owner together with the acquisition of a fee interest in his or her unit–$750;

    v) Sale by a Sublease Owner involving purchase of the fee--$750

 

Email the Association