SURFSIDE - "The rumor that Surfside Inn will be torn down is false," Sonia Tolbert of Redmond-based WorldMark said Thursday. She explained that a meeting of time-share owners will occur some time in June to decide what to do with the condominiums located in Surfside Estates north of Ocean Park at 315th and "J".
"The Surfside Inn Homeowners Association is working with other members to develop options that will be beneficial to all," spokesperson Tolbert said. "We are talking about updating and repairs for a 25-year old structure."
According to Shelly Flementis, 16-year veteran of the Pacific County Treasurer office, there may be more than routine updating and repairs involved.
"We have had several people come in before the meeting (of Surfside Inn Homeowners on Feb. 27) wanting to transfer time-share ownership because they heard there were major problems with Surfside Inn, and they would have to pay to fix them."
Time-shares are currently assessed at $1,000 according to Flementis.
"Up until this year whenever we had a foreclosure on a Surfside Inn time-share, they always sold at auction or the Association would buy them back," she said. The previous 15 years many of the time-shares could be purchased for as little as the foreclosure fee plus any back taxes, according to Flementis.
This year Pacific County had nine foreclosures on Surfside Inn time-shares.
"This year not one sold and the Association did not buy any of them back as they had been doing," she stated.
WorldMark and Trendwest Resorts is the third-largest vacation ownership corporation in the world, and they own 25 of the 48 units in Surfside Inn. They own time-share units in Hawaii, Canada, Mexico, Fiji, and across the continental U.S.
According to Rick Hayner in product information for Trendwest, the purchase price of a time-share is $9,750. A fee of approximately $375 per year for ordinary maintenance is also charged.
The June meeting, date and time to be announced, of Surfside Inn Homeowners Association may determine if there are any extraordinary maintenance fees.