Minutes – Annual Owner’s Meeting October 1, 2022

Peterson’s Waterfront Awarded the RCI Gold Crown Resort® Property Designation Based on Guest Feedback


Peterson’s Waterfront Media Contact:
Mark Elliot
509-682-4002 – m.elliot@petersonswaterfront.com

Peterson’s Waterfront Awarded the RCI Gold Crown Resort® Property Designation Based on Guest Feedback

Resort honored for excellence in accommodations, hospitality and RCI subscribing member experience

Chelan, WA (January 26, 2023) – Peterson’s Waterfront today announced it has earned the prestigious RCI Gold Crown Resort® designation by RCI®, the world’s premier vacation exchange company.

Paterson’s Waterfront was among a select number of RCI affiliated resorts to meet the requirements for this annual distinction as part of the RCI Resort Recognition Program®. RCI Gold Crown Resorts have attained the highest levels of excellence in resort accommodations, hospitality and member experience ratings as measured by RCI through guest feedback and an evaluation of the resort’s amenities, unit amenities and guest services.

“Winter, Spring, Summer or Fall, we are blessed to have you enjoy your time at the Lake..”

The RCI Resort Recognition Program highlights affiliated resorts that meet or exceed the program’s high standards by providing exceptional vacation experiences to both timeshare owners and guests. Within this program, RCI has established three distinguished rankings, RCI Gold Crown®, RCI Silver Crown®, and RCI Hospitality®, which are determined annually using the rigorous criteria established by the company. Resorts that receive these distinctions have demonstrated an ongoing commitment to quality and consumer satisfaction through superior performance as measured by customer feedback.

“We are thrilled to recognize those who have attained the RCI Gold Crown designation, and we are proud to be affiliated with Peterson’s Waterfront,” said Richard Ruff, senior vice president and managing director of RCI North America. “As the worldwide leader in vacation exchange, RCI holds high standards for our affiliated resort properties, and the RCI Resort Recognition Program helps ensure these resorts consistently deliver fantastic vacation experiences to RCI subscribing members.”

To learn more about the RCI Resort Recognition Program, please visit www.rciaffiliates.com.

About Peterson’s Waterfront:
Shhh, there is a secret on Lake Chelan. It is Peterson’s Waterfront. Nestled on the shore of Lake Chelan is a four-season resort. Peterson’s offers water sports, tennis and pickle ball, boat moorage, pool and year round Hot Tub. Peterson’s Waterfront takes pride in the cleanliness of their 2 bd 2 bth units and property. Our staff is 100% gold and will assist you in your needs. Peterson’s Waterfront is located close to some of the best cross country or downhill skiing, along with hiking and snowshoe trails. Peterson’s is just a 5 minute walk into downtown Chelan where some great restaurants and shopping can be had. Peterson’s is ready to welcome you anytime of year. If you are ready to unwind with breathtaking views of the Cascade mountain range, reserve your time now.

About RCI
RCI® is the new shape of travel™. As the worldwide leader in membership travel services to the vacation ownership industry, the company offers the industry’s leading vacation exchange platform to its 3.7 million members around the world, providing access to 4,200 affiliated resorts in approximately 110 countries. RCI Travel offers enhanced travel services allowing its members to flexibly travel year round. RCI is a part of the Panorama family of travel brands at Travel + Leisure Co. (NYSE:TNL). For additional information visit rci.com. RCI also can be found on Facebook, YouTube and Twitter.

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Minutes – Annual Owner’s Meeting October 2, 2021

Peterson’s Waterfront Annual Owner’s Meeting
October 2, 2021

Present: All members participated via Zoom
Karen Lytle, President
Mike Begley, Vice President
Paul Goldsberry, Member at Large
David Blacker, Member at Large
Debra Wheeler, Secretary/Treasurer
Mark Elliot, General Manager

The meeting was called to order at 11:00 by Board President Karen Lytle.

Confirmation of Quorum: It was determined that a Voting Quorum was represented.

President Lytle welcomed everyone who was attending the meeting via zoom and Mark Elliot reminded everyone that the meeting was being recorded. The current Board was introduced as well as Mark Elliot the Resort General Manager.

Approval of Minutes: A motion was made by Mike Begley to approve the minutes of the September 15, 2021 Board meeting and Paul Goldsberry seconded the motion.

New Business:

President Lytle reported on the overall condition of the Resort and the positive condition of the facility. She acknowledged Mark Elliot the General Manager and Mike Hedrich the Maintenance Manager and their staff for their continuing efforts to maintain and improve the Resorts facilities. Maintaining and cleaning the Resort during a Pandemic has been very challenging. They have done excellent work.

Several Owners asked questions during President Lytle’s report. Those questions emphasized a request for more enforcement of Resort policies such as the wearing of wrist bands and the removal of towels from chairs during the busy season. There was discussion on the process for filling vacant board positions when someone resigns. A request was also made for more communication from the Board.

General Managers Report: Mark Elliot reported on the many projects that were completed by in-house staff in 2021. The savings brought about by the maintenance staff with Mark Hedrich’s guidance have been significant. Repairs for the upcoming Off Season will include research into the surface treatments on decks and walkways, bolstering and replacing missing timbers on the full share dock and replacing and upgrading the Wi-Fi. The Resort has also added exterior lights to the lakeside of the Resort. This was done to participate in programs of the Chelan Chamber of Commerce and to brighten the exterior of the Resort at night.

Mark has placed comment cards in Time Share Units and is using those cards to facilitate repair of any noted issues. This has resulted in a significant drop in calls to maintenance for repair during a stay. Most of the comments received are very positive and many make great suggestions on items the Resort can implement to improve everyones experience.

Financial Reports: Debra Wheeler reported that the Resorts cash balances are good. Total income for 2021 YTD thru the end of September is less than budgeted with a large part of this difference represented by lower rentals as compared to the surge in rentals during the Covid Epidemic in 2020. Using the more normal year of 2019 is a more effective comparison. She also reported that all expense categories relating to rentals were also lower which offsets the difference in income.

Collection of delinquent accounts has generated sufficient income to allow some large required maintenance projects to be scheduled with little to no impact to our cash flow. Lastly Common and Time Share accounts are progressing nicely with Common Reserves at $77,174, and TS Reserves at $20,926 thru the end of September. The Major Common Reserve Account which was set up to collect funds for the major capital expenditures expected in the future, such as siding, are at $149,252.

Communications Committee: Mike Begley reports that we have made positive progress on improving communication between owners and the Resort. He reminded those in attendance at the meeting that they are welcome to call him with any issues and he will try to find them answers. He credited President Lytle and Mark Elliot with covering most of the topics that needed to be addressed in their comments.

Delinquent Accounts Summary: Mark Elliot reported on the Resorts continuing efforts to collect on delinquent accounts. Kim Gardner has been spending many hours and successfully taken delinquent owners that were significantly in default to Small Claims court.

Many years ago the Board of Directors did not pursue collections on the delinquent accounts and in some situations approved that the Association take back the ownership on a number of TS units. The Association currently owns 45 TS weeks. More recent Boards have stopped the policy of taking back TS weeks and in the last 4 – 5 years the Boards have taken more aggressive action to collect past due fees by taking owners to Small Claims Court for amounts of $5,000. or less.

Election Results: Debra Wheeler reported that as the Board Secretary she had personally audited the Board election results on September 30,2021. This election had an excellent owner response with a high number of ballots returned. Karen Lytle and Paul Goldsberry were reelected to the Board for a new three year term.

President Lytle thanked everyone for attending the meeting via Zoom and the meeting was adjourned at 12:30 PM.

Respectfully Submitted

Debra Wheeler, Secretary/Treasurer