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Update on meeting with ourselves (SRIOC) and SR-PROPERTY MANAGEMENT LTD

Dear Fellow Owners,

We want to provide owners with a brief update on the meeting with SR-PROPERTY MANAGEMENT LTD and ourselves (SRIOC).

We are delighted to say that after two difficult days of meetings, which lasted 9 hours on the first day and 6 hours on the second, we have reached some agreements and common ground. The SRIOC has agreed to develop a plan and budget based on separating the commercial and residential properties for the purpose of collection of MM fees.

On another positive note, the SRIOC met with the EVN team at their head office in Plovdiv and they agreed to provide us with a plan without requiring payment for the outstanding bill. The SRIOC has always stood firm over their claim that the bill was never under the owners’ names but rather under the Sunset Utility EOOD company. It was confirmed that this bill pertains to Boyan’s infrastructure. They also confirmed that the transformers are under the investor’s name and are unsafe as they are located in underground car parks which can be prone to flooding. As we all know, the SR underground car parks are regularly flooded and exposed to high temperatures in the summer months. EVN explained that this is their policy since an explosion in a Burgas building where transformers were located underground (please click on this link)

https://m.novinite.com/articles/144313/High+Pressure+Caused+Burgas+Power+Substation+Blast

As a result, the company will not assume responsibility for these transformers as they are unsafe for use, and this infrastructure has outstanding debts.

We also learned that it is now compulsory by law that all new apartment blocks have individual meters, which also contributes to the high prices currently being achieved for property sales in the Pomorie region.

EVN propose that new infrastructure should be built above ground, and new cables should be run to provide each owner with individual meters at ground level. This means that the infrastructure will be under the control of the energy provider, EVN, and there will no longer be combined usage of the transformers. In reality, we will only be paying for our own consumption and common areas but we will be fully separate from all commercial entities, e.g. restaurants, bars, swimming pools, the spa, etc. This is the current situation, with only two transformers for the entire resort and no commercial use.

We believe this is a major step forward. Once we have this plan in writing, we will inform all owners about the costs and the next steps. All fellow owners at our meeting have expressed their support for this plan once all the details are confirmed.

As you receive this newsletter the SRIOC are up in the air on their way home to Ireland.

United We Stand, Divided We Fall.