As the resort and the VEHOA share some common infrastructure and expenses, I am providing the following information to the steering committee so they know the facts as I know them regarding the various issues. It is important to understand that the resort (pueblo, hotel, country club, golf course etc.) are listed as improvements in the public registry under a separate finca number. This means it is a separate property from the residential community with its own identification numbers. It is privately owned and managed by a Panamanian corporation (Ockrasen Commercial S.A.).
One of the most difficult jobs in a residential community is to be on the board of the homeowners association (BOD). It is an unpaid position that requires many hours of work each month. A board member must deal with many issues, some of which don't make them very popular with some homeowners, such as notifying someone when their dog is creating problems for a neighbor. Valle Escondido is the first project of this kind in Panama and the rules for associations were only implemented by law a few years ago. There had been associations for vertical condominiums buildings, but not for residential communities like Valle Escondido. PANAMA LAW REQUIRES AN ASSOCIATION TO BE MADE UP OF ONLY PANAMANIANS, WHICH IS WHY WE HAVE A STEERING COMMITEE THAT DIRECTS THE BOD. THE BOD ARE NOMINEE PANAMANIANS WHO ACT ON THE BEHALF OF THE STEERING COMMITEE AND HOMEOWNERS.
