Body corporate’s plan to fix Couran Cove Island Resort crisis revealed
A body corporate chairman is calling for residents to back his plan to prevent services being axed at Couran Cove - but critics have warned it won’t be a long-term fix.
Gold Coast
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Residents of an embattled island resort are being urged to take out a loan application to avoid disconnection of essential services next Monday.
But critics warn it won’t address long-term financial issues plaguing Couran Cove Island Resort on South Stradbroke Island.
Couran Cove Resort Marine apartment chair Darren Philip wrote to residents on April 5 calling for support to take out a loan to cover alleged millions of dollars in unpaid levies.
It comes after resort residents received a letter stating electricity, gas and water services would be cut from 10am on April 17.
Island Resorts (Infrastructure) and Island Resorts (Facilities and Equipment) company director Simon Napoli signed the letter.
The reason given was due to alleged unpaid body corporate fees.
Mr Philip said the Marine body corporate - one of five body corporates on the island - had already inquired with multiple financiers about taking a loan.
His letter stated owners would be responsible for repayments of $2000 per annum per owner.
“The cost of the loan will be substantially lower than what is being spent on legal fees and would provide a situation where essential services could be resumed when payment is made,” Mr Philip wrote.
He said a motion would be drafted and an annual general meeting called to put the finance option to owners for a vote.
Mr Philip said he had already instructed for the AGM to be called and residents would receive a notice shortly to advise the date.
“If the loan is accepted by Marine and funded, that will make Marine financial at a Community Body Corporate level and will put substantial funds into the hands of the service providers,” he said.
“This, along with Marine meeting its ongoing obligations, will no doubt lead to the continued provision of services.”
Marine apartment owner Tony Duncan said he would not support the proposal.
“It stinks. The majority of owners won’t agree to it - people are just going to arc up about it,” Mr Duncan said.
“It is not addressing the real problem.”
Eco body corporate chair Dave Bowden said he did not support the move.
“It doesn’t get rid of the problem, it just exacerbates it by committing everyone to a loan,” he said.
Mr Napoli described the proposal as “sensible”.
“We note it still has to be put to an AGM for approval from all owners, which we hope will be called as soon as possible,” he said.
“We hope there is a positive response from owners, so services can remain connected to this precinct.”
The Marine body corporate represents 191 lots, more than half of the entire resort.
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Originally published as Body corporate’s plan to fix Couran Cove Island Resort crisis revealed
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