Island Cove Condominiums

DISCLOSURE OF POTENTIAL REMEDIAL CONSTRUCTION AND/OR ADDITIONAL ASSESSMENT

To all potential purchasers of units in Island Cove:

• The Island Cove Condominium Association has experienced water leaks stemming from the Condominium’s roofs and the buildings’ exteriors. The Association’s contractors have determined that repairs to the roofs, as well as to the siding and other exterior items of the Condominium are needed to prevent the leaks from continuing.
• The Association has received contractor bids for the requisite repairs and, based on these bids, anticipates that the cost of the project may be anywhere from $1.2 Million to $1.92 Million.
• At this time, the Association anticipates financing the project via the levying of an additional assessment against each unit in the Condominium or via a bank loan (although the Association has not been approved for any such loan at this time), which bank loan would be repaid through either general Association assessments or the by the levying of an additional assessment.
• Those co-owners who are or will be selling their units during this time period should consult with their real estate agent or professional regarding the need to disclose the future roof and exterior repairs and possible additional assessment to potential purchasers.
• The Board will provide additional information as it becomes available.

• Amended & Restated Master Deed
• Restated Bylaws
• Articles of Incorporation
  • Amendment to the Articles of Incorporation
• Boat Rules & Safety Guidelines
• Resolutions:
  • Policy Resolution Regarding Fines for Violations of the Condominium (effective January 13, 2025)

CLICK HERE to access the following forms you may need to fill out:

• Architectural Modification Request
• Contact Information Update Form
• Pet Registration Form