co-owners website archives
News from Camelback InnAug 14, 2015


In this issue:


 Annual Meeting to showcase the newly renovated Jackrabbit Pool

A highlight of this year‚s Annual Meeting Weekend will be the Saturday Night Marriott Reception held outdoors at the newly renovated Jackrabbit Pool. Co-Owners will be treated to cocktails and gourmet food presentations while admiring the new adult swimming pool, redesigned children‚s area and new surfaces, furniture and features throughout the complex. Construction is nearing completion and scheduled to open mid-September.

Activities begin on Thursday, October 15 with a Board of Director‚s Meeting in the morning and the Manor House Reception in the evening. Friday morning the Golf Tournament returns to the Camelback Golf Club. Friday afternoon, Co-Owners will be able to participate in a Segway tour of the local area. The events conclude on Saturday with the 43rd Annual Meeting of the Council of Co-Owners and the evening reception sponsored by Marriott. Look for more details next month.

 Make Room Reservations now for the October Annual Meeting

It‚s easy to request vacation time at Camelback Inn on your computer.‚ Just click the Reservations Page link and follow the instructions.‚ Your request will be sent directly to the Camelback Reservations Team.‚ They will send you confirmation by the next business day.‚ Please indicate in the comments section if you wish to take advantage of the Special Annual Meeting Rate of $125.00 per night in lieu of using your vacation days.

 Board to submit proposed amendments on October Ballot

The Board of Directors has accepted the recommendations of the Special Committee on By-Laws Revisions and is preparing to submit for your approval several proposed amendments to the Condominium Documents as part of the Annual Meeting Ballot that you will receive next month.

The Board wishes to thank Committee Chair Christopher Gable and Committee Members Brenda Kaplan, Jack Florio, David Bartholomew and especially Joel Stein who worked with our independent counsel to draft the language of the amendments.

The following is a brief summary of the proposed changes:

Changes to the Declaration:

Section 7, Reconfiguration of Units, Unit Relocation, and Construction of Guest Facilities as a Part of the General Common Elements.

Paragraph 2, reduces the total affirmative vote requirement from 80% to 75% for reconfiguration, or relocation outward of exterior walls, of Units, or Unit Relocation.

Paragraph 3, reduces the total affirmative vote requirement from 80% to 75% ...to encumber and deal with any portion of the General Common Elements for the purpose of constructing hospitality accommodations and guestrooms as part of the General Common Elements.

Section 9, Voting

Eliminates the requirement for all owners of a single unit to cast a unanimous vote when there is more than one record owner.‚ Under the proposed change, voting is proportionate to ownership.

Section 10, Notices

The proposed change makes the Declaration consistent with the By Laws and permits electronic delivery.‚

Section 20, Right of First Refusal

This is a lengthy section.‚ The proposed changes provide clearer language, specifically provide that the right applies to all unit owners and that owner to owner transactions are exempt from the Section entirely.‚

Changes to the By-Laws:

Article III, A, Annual Meeting

Changes the time of the meeting to 9 A.M.

Article IV, First Paragraph

Requires that officers of the Council be unit owners.

Click the buttons below to read the memorandum to all Co-Owners from the Board of Directors and to read the full report committee report. The complete text of the proposed changes can be found in the Whats New section of the web site. Look for your ballot next month.

 
  Board Letter   Committee Report

 Mid-Year Distributions Mailed August 10

Host Hotels has mailed distribution checks to Limited Partners covering estimated earnings for the period of January 1 ‚" June 30, 2015. Host‚s distribution letter and an operational update from Marriott are posted in the Whats New section and on the Partnership page.

 Camelback room rates now posted through December 21

Rates for regular and sun deck rooms through December 21, 2015 are now posted on the Camelback Room Rates page. The number of days your unit is charged when you use vacation time at a reciprocal property is based upon the rate in effect the day of your stay at the participating hotel. Rates will change frequently in September. We suggest that you consult this page prior to making your plans if you need to forecast your vacation time usage.

 Updated listing of Units Available for Resale

First Financial Equity Corporation has furnished us with the listing of Units Available for Resale which was last revised on August 13, 2015. You can view the list by clicking the Units Available link at the left. Matt Munn and his team at FFEC have initiated new marketing efforts to promote the sale of Condominium Units on property. The listing can now be obtained at the Front Desk or from the Concierge and the property map has been revised to include information about resales.

 Sign up to receive notification of pending sales

Section 20 of the Declaration of Covenants, Conditions and Restrictions of the Camelback Inn Condominium provides current owners with the Right of First Refusal enabling an existing owner to match the terms of an offer to purchase a condominium unit by a non-owner. If you wish to be informed of pending sales you may request that your name be added to the notification list by sending an email request with your name and unit numbers to:

Mathew Munn
C/O First Financial Equity Corporation
mmunn@ffec.com.

 Ritz-Carlton Chicago now a full participant

Marriott has reported on the www.marriott.com website the following news:

The Ritz-Carlton, Chicago is a full participant in The Ritz-Carlton hotel portfolio and all of its programs. Guests are able to make reservations on www.ritzcarlton.com and will be eligible for the benefits of The Ritz-Carlton Rewards guest loyalty program.‚ The hotel will undergo an extensive renovation of its public space and guest rooms over the next two years.

Since its opening on Michigan Avenue in 1975, the hotel had been using The Ritz-Carlton name under a license agreement with a predecessor of The Ritz-Carlton Hotel Company, which by its terms did not provide for full integration into The Ritz-Carlton system.‚

‚-We are delighted to welcome The Ritz-Carlton, Chicago into our family of award-winning luxury hotels‚" said Herve Humler, president and chief operating officer of The Ritz-Carlton Hotel Company.‚ ‚-This will give our loyal customers access to one of the finest addresses in the great city of Chicago. ‚ After the extensive renovation that is planned, The Ritz-Carlton, Chicago will take its place among the truly iconic luxury hotels in the United States.‚"‚

The statuesque 435-room luxury hotel is located on floors 15 through 30 of Water Tower Place on the city‚s‚ Magnificent Mile, near Navy Pier and Chicago's Gold Coast. The hotel features 101 hotel suites, a full-service spa, fine dining and over 21,000 square feet of meeting space and a vibrant rooftop restaurant and bar.

 Check the web for the latest news about Camelback Inn

The Communications Committee continually updates the web site on topics that include posting changes in CBI rates, additions or deletions to the units available for resale, and other news of interest to Camelback investors. We invite you to check the site often to find out ‚-What‚s New‚".

If you have questions or need technical help with your access to the web site, do not hesitate to send an email to the Communications Committee c/o dcbartholomew@aol.com..

Enjoy the rest of the summer. We look forward to seeing you in October.


The Board of Directors
Marriott Resort Hotel Condominium ‚" Camelback Inn