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Letter from Kevin Walsh, President
April 2011

Greetings Fellow Seaview Property Owner,

As spring arrives, I am writing to let you know that the date of 2011 Annual Membership Meeting will be Saturday June 18^th, so that you can “save the date.” The meeting will be held at 10:00 AM at the Sage Diner on Rte. 13 in Onley. The official notice will be sent out within thirty(30) days of the meeting. With Seaview getting better and better, we truly hope to see many attend this year’s meeting.
Seaview has survived a tough winter and our development is in great shape. Your Board of Directors held a lengthy meeting in January and I want to report to you on that meeting and developments at Seaview.

Attached, you will find financial statements that present a snapshot of our financial situation as of December 31, 2010. The statements show how your money has been spent and that we have significant cash assets in secure accounts.

Although no decision has been made regarding dredging at the community dock, we continue to monitor the situation closely and will advise you when we feel that dredging is necessary to maintain the dock as a usable asset to Seaview. The community boat, Seaview II, will operate on a full schedule, bringing members and their guests to and from Cedar Island, this season.

The Reserve Fund, which was wisely begun at our very first annual members meeting in 2004, is available if needed for major expenditures in support of Seaview’s infrastructure.

None of the funds in the dredging and reserve funds will be used until and unless we are certain they are being used wisely.

Fortunately, our financial statement confirms almost full collection of annual dues, reserve fund and dredging fund payments to date. Sadly, from time to time, we must undertake collection efforts on any arrears. These instances have been few at Seaview.

We are all hoping, as I am sure you are, that spring brings a better economy within which to build and/or market our investments in Seaview. We are staying fiscally conservative to match what we believe your strategy is for these times. There are several positive influences in the Accomac area of which you should be aware. The new Walmart opened on Rte. 13 in Onley, bringing with it jobs and other business. In fact, a new high-end strip mall is planned for a location across Rte. 13 from Walmart. Additionally, The Shore Memorial Hospital, currently located in the town of Nassawadox in Northampton County, will be moving to a new facility to be constructed in Accomack County, between the towns of Keller and Parksley, perhaps at the site of the old Whispering Pines Motel just off of Rte 13. The Nassawadox location has received a $3 million upgrade, including new CT scanners, digital mammography, etc., and will serve as an Urgent Care center. The new hospital will bring jobs and physicians and put advanced health care with a few miles of Seaview.

It is true that Seaview is developing slowly. It is equally true that Seaview is developing well. Your investment is as protected as real estate can be during these times. Our budget strikes a balance between the need to maintain a beautiful community and the economic reality of our times. We will continue to consider ways to reduce expenses for the Association.

Please do your best to attend the annual meeting or visit Seaview some other time this summer to go to the beach or simply walk around Seaview and enjoy its quiet beauty.

Your Board’s email addresses are listed on the letterhead. Please share your thoughts with us at any time.

We look forward to seeing you and hearing from you.

Very truly yours,

Kevin Walsh