Richard J. Schecher, Sr                               Businessman - Investor - Mentor                                                                  

Owners are left to cover the financial burden created by the HBR Condo President (Michel Jekic) and VP (Laura Welliver) as a result of their "closed door deal" with the owners of Oceanwalk Mall.  It is a deal that allowed the Mall Owners to divest their condo ownership from one entity into three separate entities making them what many owners believe is "suit proof" as the Mall walks away from what is approaching $1,000,000 in total debt owed to the HBR Condo Association.  After allowing the Mall Owners to split up their ownership, the Board President (Jekic) and VP (Welliver) signed a multi-year $7.5 Million Dollar Lease with the Mall and guaranteed it with the Association's maintenance & assessment fees.  Wait- it gets worse - Jekic & Welliver also granted the Mall a 41% Rebate on all future Special Assessments in order to get the space they wanted while leaving the individual condo owners left holding the bag and paying for the difference between what the Mall is required to pay (20%) based upon Condo Documents to what they are actually now paying (less than 8%).  If you think things could not get any worse ?  Think again.  The Mall not only owes close to $1,000,000 but today they are only paying the net difference between the new lease payments created by the Board President (Jekic) and the maintenance fee.  Bottom Line - condo owners are now paying what the Oceanwalk Mall Billionaire Owners should be paying while faced with a huge CASH FLOW Problem as the condo runs out of money due to the gross negligence of its governing Board of Directors and the "closed door multi-million dollar deal" that favors nobody but the people who made it.