Roof & Paint Project

Additional details and instructions will be provided ahead of this project reaching your home. Please keep an eye for communications from the HOA or the painter.

Additional details and instructions will be provided ahead of this project reaching your home. Please keep an eye for communications from the HOA or the roofer.

Lake Erie Roofing reports that after checking the first several buildings the movement of single-story unit patios may not be necessary and they should be able to work around the patios. This will be assessed on a case-by-case basis as they prepare to work on a building.

The loan commitment letter can be found here with the details of the loan between SouthState Bank and Malibu Bay HOA. Closing occured the week of Thanksgiving.

Here are some things that worked out in the HOA's favor during this process:

1. Interest rates is 0.25% lower than the initial estimate

2. The prepayment penalty has been removed as long as the funds to pay off the loan are not borrowed by the HOA

3. The HOA can re-amortize the loan annually at no charge

Update: Six homes have been confirmed as being reroofed. The valuations of these six previous homeowner-driven projects range from $12,850 in late 2018 to $19,499 in early 2024 that were not paid for or managed by the Malibu Bay HOA. Through the bulk purchasing power of the Malibu Bay HOA, we have been able to procure the remaining 494 reroofs for a homeowner cost of $12,157.42.

On July 23rd, 2024, the Malibu Bay Homeowners Association Board of Directors selected Lake Erie Roofing as the top vendor for the reroofing of 494 homes, 2 guard houses, and the clubhouse within the community.

495 new townhome roofs: $5,743,325.00

Soffit screen replacements: $200,000.00

2 new guardhouse roofs: $2,300.00

1 new clubhouse roof: $82,500.00

10 years of roofing inspections: $50,000.00

Additional wood: $90,000.00

Bond: $117,600.00

Owner's Representative: $50,000.00

Pointe Management administration fee: $52,000.00

Loan Closing/Attorney's fees: $15,000.00

On March 14th, 2025, the Malibu Bay Homeowners Association Board of Directors selected Dolmens Development for the painting of 500 homes, 2 guard houses, the clubhouse, and other assorted items within the community. More information on the updated bids and project history can be found in this presentation.

Paint: $562,500.00

Door Stripping: First 12 doors included; additional $275.00 per door

Fences & Gates: Included

Perimeter Wall: Repair + Painting Included (Both Sides)

Entry Metal Gates: Included

Additional Repairs: Stucco Crack Repairs & Caulking Windows/Doors Included

An election must have been made by October 1st, 2024 to Pointe Management using the Assessment Election Form

1. Pay $12,157.42 in one lump sum

2. Pay $2,026.24 in 6 payments commencing October 1, 2024 and each month thereafter for 6 months.

3. Pay $142.72 monthly for the next 10 years.

If no election is made by the owner(s) by October 1, 2024, a unit will automatically be assumed to enroll into the 10-year financing option.

Checks should be made payable to Malibu Bay Homeowners Association

Need Assistance? You can reach Pointe Management by phone at 561-274-3031 or email at ar@pointe.group and ar2@pointe.group