International Village owners agree: Less is More

A big thank you to all the owners who heeded my persistent calls to return your proxies. A large surge of proxy submissions in the last week – and especially the last few days – propelled owner participation to a near-record high, allowing us to avoid a maintenance fee increase while improving board accountability by downsizing the board of directors.

Of the more than 450 owners who returned their proxies, over 95 percent voted to waive reserves, while 60 percent voted to reduce the board's size from seven to five members. That means there will be no increase in maintenance fees for the fourth year in a row, and owners will elect two instead of four directors in the upcoming election, leaving the board with five members beginning in February.

Although Irma-related expenses meant we couldn't reduce maintenance fees again as we did the last three years in a row, owners who are still paying their Hurricane Wilma special assessment can look forward to a big break in 2018 because the special assessment ends in the summer, the last payment being due in July.

Once again, thank you to the many owners who took part in this important election, regardless of how you voted. It is your continued participation that keeps International Village vibrant and strong.   

John Labriola

International Village President