Islesworth homeowners voted 51-6 in favor of a loan from SBA to replace the fences, repair the front wall and replace landscaping -- all damage as a result of the hurricanes in September 2004.

The total loan will be $94,200 at 2.9% interest. The insurance company had given Islesworth $11,000 for fence damages, and that money is being held in a special hurricane fund, along with the extra $52 quarterly homeowners have paying in fees this year.

All fencing that is Islesworth is responsible for will be replaced with a better quality of fence. There is about 3,000 linear feet of fencing to replace. The fence along the western side of Islesworth belongs to Palm Isles and is that community's responsibility to replace.

The process for applying for the loan began last fall. Islesworth applied for FEMA relief, and registered through SBA -- like so many people throughout Florida. Estimators came in and looked at the damage to our fences, wall, landscaping and roadways. They deemed that the damage to our roadways was normal wear and tear, but approved a loan to repair/replace fences and landscaping.

Islesworth is not required to take the full amount $94,200, and there is no penalty for early payment. Payments start five months after the first draw from the loan. The loan must be repaid in five years.  

The regular HOA board of directors meeting was changed to a special members meeting because the SBA required a vote on the terms of the loan.