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December 31, 2017 Dear Fellow Ritz-Carlton Club Member, HAPPY NEW YEAR TO ALL We are happy to share with you our 11 th and final Update of 2017. As the team continues to push forward on the restoration of our Club you will appreciate the many components that need to come together for us to open by late May in 2018. Overall Restorations are proceeding on pace with usual shipping and receiving issues tied to island construction. The Club looks better than expected per accounts from Board Members Abbey Chung and Steve Redan, who have visited the site in the past month. The island, overall, is showing less progress with noticeable issues concerning trash build-up, roadway clearing, power restoration, and recovering hospital services. In Red Hook, some restaurants have opened and the Food Center is now in service. Many cruise ships have returned to Charlotte Amalie and have begun taking guests to beaches such as Magen’s Bay, which was one of the first to be restored. The downtown area is also coming back to life.

HAPPY NEW YEAR TO ALL · Year End Holiday Celebration A year-end Holiday Party was hosted for all our Ladies and Gentlemen and their families by Craig Sacco and the management team

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December 31, 2017

Dear Fellow Ritz-Carlton Club Member,

HAPPY NEW YEAR TO ALL

We are happy to share with you our 11th

and final Update of 2017. As the team

continues to push forward on the restoration of our Club you will appreciate the

many components that need to come together for us to open by late May in 2018.

Overall

Restorations are proceeding on pace with usual shipping and receiving issues tied

to island construction. The Club looks better than expected per accounts from Board Members Abbey Chung and Steve Redan, who have visited the site in the

past month. The island, overall, is showing less progress with noticeable issues

concerning trash build-up, roadway clearing, power restoration, and recovering hospital services. In Red Hook, some restaurants have opened and the Food Center

is now in service. Many cruise ships have returned to Charlotte Amalie and have

begun taking guests to beaches such as Magen’s Bay, which was one of the first to

be restored. The downtown area is also coming back to life.

Landscaping

After obtaining original landscape drawings and conferring with a landscape

architect, the management company has begun the process of restoring the vibrant plant life we all know and love. Our General Manager, Craig Sacco, reports that

some of the damaged palms are sending out new fronds and similar growth is

being shown by other surviving plants.

Beach

We have secured the services of a beach restoration expert and have begun the formal process of evaluating the damage left by Hurricanes Irma and Maria. The

post-hurricane beach is greatly reduced from what it was in early August. We

expect to file for an Emergency Restoration Permit within the next 30 days. Once approval is obtained we will begin restoring the beach to its pre-hurricane

condition. This project will also include restoring the landscaping and shade trees

in the beach area.

Exteriors of Buildings

Work continues on façade repair (fairly minor issues), repainting (not so minor) and replacement and painting of gutters (major issue). The team is also restoring

the front doors of each unit as well as replacing the electronic entry/key systems.

Corridor lighting is being reworked as a number of fixtures were damaged beyond repair.

Air Conditioning Systems

Iris, Jasmine, Kava and Lily are serviced by Daiken AC units. These are being

evaluated for repair, restoration or replacement. This is still under negotiation for a host of technical and timing issues. Gardenia and Helikonia will have new Chiller

units on-site in mid-January and the new units will be installed as soon as possible.

Elevators

Our elevators were badly damaged by wind blown salt water. Controller circuit boards and shafts in addition to the cabs were damaged. We are determining the

best course of action to restore or replace. We expect to move forward shortly.

Interiors of Buildings

This is a mixed bag with a large variation of damage present in each building. Weekly, units are being restored to full use and occupancy. This required

extensive removal and replacement of drywall, paint and trim and in some

instances marble flooring. Some kitchen cabinets as well as baseboard moldings were damaged and are being replaced. While the interiors are coming on-line,

replacement of damaged furniture and items like mattresses is also an ongoing

task. Many orders have already been placed and receipt of some items is already

beginning.

Power

WAPA is slowly restoring power to parts of the island. Their power is intermittent

and “dirty”. Their reliability has certainly not improved with the hurricane’s

disruption. The Board moved to purchase a 1 Megawatt diesel generator. This unit is now on line and backing up the existing generators. Ultimately, the Board is

working on a long-range solution that is reliable and produces “clean” power.

Update on the Employee Hurricane Relief Fund ~ The need still exists!

As of the end of the year, we collected a total of $404,739 for our Hurricane Relief

Fun and have distributed $346,750 to our Ladies and Gentlemen. These donations came from approximately 35% of our Members. In addition, the Board recently

purchased 110 small home generator for every person on our staff. These were

distributed in December. Small generators were not readily available on the island

and the lack of electrical power was a major impediment to getting lives back to normal. These generators allowed the Ladies & Gentlemen to access stored water

in their cisterns – an important necessity of life on the island. This purchase is

something we are hopeful you will find worthy of continuing contributions. If each member donated just $50, the cost of the generators would be fully paid.

Please note that we did not make a collection this year for the Thanksgiving Fund

so we are hopeful each of you will contribute to this worthy cause.

Year End Holiday Celebration

A year-end Holiday Party was hosted for all our Ladies and Gentlemen and their

families by Craig Sacco and the management team. It was an old-fashioned beach bash with food, refreshments and gifts for all. Santa even made a special

appearance and was on hand to pass out the toys to the children.

Our staff has been incredibly thankful for your continued support at this difficult

time and they send a special “Thank You” to each of you as we all wish for a

happy, healthy and storm-free New Year!

Please see the images presented on the next page to show some visual evidence of

the club coming back to life.

Yours truly,

GREAT BAY CONDOMINIUM OWNERS ASSOCIATION, INC.

6910 GREAT BAY; ST. THOMAS USVI 00802

President: John Doyle [email protected]

Vice-President

Treasurer:

Abbey Chung

Thomas Doyle

[email protected]

[email protected]

Secretary: Michael Gick [email protected]

Director: Steve Redan [email protected]

GBCOA EMPLOYEE HURRICANE RELIEF FUND

TO CONTRIBUTE BY CREDIT CARD:

Please type in the requested information (you do not have to personally sign this form) and e-

mail the form to [email protected] or mail to:

GBCOA Employee Relief Fund; 6675 Westwood Blvd, Suite 175; Orlando, FL 32821

Credit Card Type: (Visa, MC, Amex, etc.)

Credit Card Account Number:

Expiration Date: CSV:

Your name as it appears on Credit Card:

Your Club Residence Interest (the unit you own):

The billing address for this Credit Card:

Today’s Date:

Donation Amount:

TO CONTRIBUTE BY CHECK:

If you prefer to donate by check, please complete this form below and include it with your check

made payable to:

GBCOA Employee Hurricane Relief Fund.

and mail to 6675 Westwood Blvd., Suite 175; Orlando, FL 32821

Your name:

Your Residence interest:

We thank all of our Members for the great concern they have expressed

for the welfare of all of our Ladies and Gentlemen.

With best wishes,

The GBCOA Board