Golden Surf Towers Condominium

Owner Information Update

(Not an Association Communication)

Stability Comes From Process — Not Promises

Change does not mean disruption.

At Golden Surf Towers, change means restoring normal governance practices that many buildings already follow.

This update outlines what owners should realistically expect in the first 90 days if a new owner-led board is elected.

No speculation. No politics. Just process.

First 30 Days: Transparency and Control

Immediate priorities

• Secure all financial records, contracts, and bank access
• Establish clear board operating rules and documentation standards
• Confirm the full scope of:
  • Outstanding loans
  • Lines of credit
  • Interest obligations
  • Reserve balances
• Engage independent professionals where needed (CPA / counsel) to report to the Board — not manage it

Owner impact:

Clarity replaces uncertainty. Owners finally see the complete financial picture.

Days 31–60: Financial Reset and Risk Assessment

Core actions

• Line-by-line review of:
  • 2025 actuals vs. budget
  • Insurance costs vs. real premiums
  • Loan servicing and interest leakage
• Identify duplicated costs (assessments + borrowing)
• Evaluate whether debt is being used appropriately or unnecessarily
• Freeze non-essential spending until controls are in place

Owner impact:

Risk is measured, not guessed. Financial decisions are based on facts, not assumptions.

Days 61–90: Owner-Focused Planning

Structural improvements

• Publish a plain-English financial summary for owners
• Establish a debt reduction and reserve rebuilding framework
• Clarify when special assessments are justified — and when they are not
• Set communication standards:
  • Timely notices
  • Written explanations
  • Predictable updates

Owner impact:

Predictability returns. Owners can plan — financially and personally.

What This Is Not

This is not:

• A purge
• A vendetta
• A blame exercise

It is a governance reset.

Well-run buildings do this routinely. Golden Surf Towers can too.

Why This Matters Now

Buildings rarely fail overnight.

They decline when:

• Debt accumulates quietly
• Owners are informed late
• Controls erode gradually

The upcoming election is an opportunity to interrupt that trajectory.

Owner Action — February 19 Election

If you want:

• Clear financial visibility
• Responsible debt management
• Respectful communication
• Stability instead of escalation

Please vote for the full owner slate:

Vote for the Full Team

• Matthew Greimel
• Cynthia Clemens
• John DeLuca
• Tobey Salem
• Oriana Gherman
• Maggie Enriquez
• Larissa Bethel

This team is committed to:

• Transparency
• Fiscal discipline
• Due process
• Restoring trust and normalcy

Disclosure / Notice

This communication is from Concerned Owners and the Owner Candidate Team. It is not issued by or on behalf of the Association, its Board, management, or vendors. Statements reflect owner concerns and reference Association materials available to owners. Owners are encouraged to review official Association records independently.