Stenographer's Transcript of Video
Case Title: Three Palms Point Success Story
Part One: Introduction by Charles R. Tutwiler and Associates, Inc.
Transcribed by: Stenoproof

My name is Dick Tutwiler; I'm president of Tutwiler and Associates, public insurance adjusters and loss consultants. I'm standing here today at the community of Three Palms Point Condominium Association. The twin towers of Three Palms Point are located on Florida's west coast, in St. Petersburg Beach, Florida. As you can see, this is a community that is very close to the water. We have the Gulf of Mexico approximately four blocks to our west of the towers, and on the other side of this community is surrounded by the Florida inter-coastal waterway.

This community is comprised of an eclectic group of owners. There are 199 units in Three Palms, and they range from young professionals up through retirement people. The units themselves have values up to 365,000 in today's market. The amenities at Three Palms Point are everything that someone could want coming to Florida in that they have boat slips on the inter-coastal side, there's a putting green, they have professional, 24-hour guard service, they have in-house maintenance and maid service, and they are run by one of the premier management companies in Florida, Rampart Properties.

Unfortunately, some years back, in the course of doing normal inspections and surveys on the building, it was discovered that there was severe structural impairment to the steel studs in the walls that hold the exterior stucco cladding on the building. This discovery was sudden in that the Association had no knowledge about this, and obviously, with its geographic location, close to the water, and with our ever present threat of hurricanes and high winds, this was a major concern to this Association, and that should an event strike this community, the walls could theoretically be ripped off of this building, completely destroying everything inside the structure.

As recent events have shown us, it's just a matter of time when we're going to get a hurricane. Only three or four weeks ago we had the threat of Michelle coming out of the Caribbean, which one computer model at the National Hurricane Center actually had projected coming into the west coast of Florida. Fortunately, it turned east and did not impact this area. This is an event that is just waiting to happen here, and it is a particular concern, again, to this community, because of the nature of the damage that's been discovered here, that this matter be moved forward and repairs be completed in its entirety.

When the original even was discovered and my firm was retained, based on the knowledge that we had at that time, and using an extrapolation, because the damages were hidden a claim was filed for approximately $3.5 million. In the course of the claim, Three Palms Point and its representatives, and State Farm, its insurer, agreed upon a protocol wherein 12 units would be repaired based on the recommendations of the Association's engineer to be used as a template.

Having begun these repairs, it was discovered that there was additional rusting above windows that was not originally calculated. In addition to that, unfortunately, asbestos has been found throughout the building period. This Association needs to get this matter settled so the contracts can be let and this building can be repaired before the next hurricane impacts the west coast of Florida.

//END//