Owners Corner

Recent Activity

SALE UPDATE – August 15, 2019

Dear fellow PSOE members,

Your Board of Directors would like to share with all our Owners a summary of events over the past two years. This summary (in italics below) was prepared by our legal counsel Jaime Hall, of Reed Pope, to help clarify the full process for those that are interested.

You have asked us to provide a description of the process of closing and of obtaining the net sale proceeds from the sale of PSOE strata lots at Pacific Shores.

Please keep in mind that this was a significantly complex transaction, involving some 3200 legal titles and complexities of inconsistent title registration and outdated encumbrances. This was undoubtedly the most complex real property transaction I have encountered in over 35 years of practice.

The closing date was February 8, 2019. The registration package was submitted to the Land Title Office by the purchaser’s solicitor on February 29. We understand that final registration of the majority of the strata lots was completed about March 21.

We received the net sale proceeds from the purchaser on March 29, net of ¼ of the proceeds held back due to the non-resident withholding tax issue and other adjustments.

We then had to complete a number of further adjustments, including strata fees, utilities, holdbacks for four errant mortgages and duplicate certificates of title. We also had to conclude the arrangements with Vacations Internationale about their donation of their sale proceeds. This was, again, an enormously complex undertaking and took most of April to accomplish. The result was the Order to Pay provided to you outlining the disbursement of funds.

We sent the net sale proceeds to you on May 3.

More recently we have provided you an Amended Order to Pay on July 8.

We also finally received a report from the purchaser’s solicitor of their analysis of which owners have provided residence proof. They will be sending that portion of the 25% non-residents holdback attributable to those owners who have provided satisfactory proof of Canadian tax residence. We expect receipt of those funds in the next few days.

The Board would like to thank all our wonderful PSOE Owners for your patience and understanding. It has without a doubt taken much longer than initially anticipated.

The cheques are at the mailing house and on their way to all Owners who sent in their Certificate(s), who’s maintenance fees, 2018 & earlier, were current and who did not have any legal registered encumbrances against their title at BC Land Title Office.

Once deposited into PSOE’s account, the tax funds will be disbursed to all Canadian resident PSOE Owners, under the same criteria as above.

Please also note, an annual PSOE Owner is eligible to receive $771.86 CDN for their week. Each bi-annual PSOE Owner is eligible for $385.93 CDN.

If you have not received your cheque by September 15th, please email TPI at droadmin@tradingplaces.com. After September 15th, late certificates will be accepted and a second mailing date will be arranged, within 6-8 weeks.

Full Summary Letter

Amended & restated Order to Pay


SALE UPDATE – August 12, 2019

Dear fellow PSOE members,

As stated in our July 29th update, all PSOE titles have been removed from our units at Pacific Shores by the BC Land Title Office. No PSOE Owner has any ownership or further obligation regarding Pacific Shores.

We have received some requests from PSOE Owners to provide proof of clear title from their PSOE ownership; therefore, we have requested a letter from our legal team. The letter can be viewed by clicking the link below.

Letter Concerning PSOE Titles

In addition and unfortunately, some PSOE Owners had contacted timeshare exit teams in the past to try and release their titles. Hopefully providing this letter will give these Owners the ability to request a return of the funds they paid to these companies, as the exit groups did not clear their titles.

Sincerely,

Kate Britton
PSOE Board Chair


SALE UPDATE – July 30, 2019

Dear fellow PSOE members,

After our June 7th update, we were advised by our legal team to hold off on disbursing the sales funds in the hopes that a tax clearance from CRA was imminent and PSOE could avoid a costly second mailing; unfortunately, the clearance and corresponding receipt of funds has not yet occurred.

Accordingly, we have begun the process to produce the sale disbursement cheques to PSOE Owners. All PSOE Owners who are current with their 2018 and earlier PSOE maintenance fees and who have submitted their certificates originally sent in mid-February are eligible for a portion of the sales funds.

The Order to Pay has calculated cheques at $771.86 for each annual week, minus any amounts due on individual Owners’ accounts.

If you have not received your cheque by September 15th, please email TPI at droadmin@tradingplaces.com. After September 15th, late certificates will be accepted and a second mailing date will be arranged, probably within 6-8 weeks.

To clarify, all PSOE titles have been removed from our units at Pacific Shores with the BC Land Title Office. No PSOE Owner has any ownership or further obligation regarding Pacific Shores.

For future and past updates, as well as any related documents, please refer to the website: www.tradingplaces.com/psoe. The login for the owners’ corner is psoe and the password is craigbay.

As we have previously advised, PSOE is no longer in operation at Pacific Shores. Accordingly, please do not call the resort. They are not PSOE staff and have no information available to give you. If you are unable to find the information on the website, you may contact me at katenalan@hotmail.com. I do not, however, have any information other than that made available on the website.

Don't forget to look at the very valuable time-sensitive special offer just for PSOE Owners from Vacation Internationale. Information about the VI Resorts timeshare vacation club are on their website at www.viresorts.com; click on the PSOE tab on the side. There are customer service representatives at our exclusive PSOE phone number available to answer your VI related questions.

Sincerely,

Kate Britton
PSOE Board Chair


SALE UPDATE – June 5, 2019

Dear fellow PSOE members,

Here is the latest update regarding the sale of the Pacific Shores Resort and the pending distribution of sales proceeds.

The sale has been completed and the sales proceeds due from the seller have been remitted. The significance of reaching this stage of the sale is that PSOE and PSOE members are no longer liable for expenses related to ownership, use, or maintenance of the units that were formerly property of PSOE. Your board is pleased, of course, to have reached this milestone and we wish the buyer success in the future with the beautiful resort.

The most important remaining task is to distribute the sales proceeds to PSOE members. The board is also pleased to advise you that we have authorized a partial distribution for some time this month. This distribution will include about 75% of the sales proceeds.

The remaining portion of the sales proceeds have been the subject of some uncertainty in the Canadian Revenue Agency about whether sales proceeds due to nonresidents (or how much of the nonresidents’ sales proceeds) must be remitted to CRA. It appears that Canadian tax laws relating to the sale of real property by nonresidents of Canada are complex and our tax advisers and CRA staff have been working together for some time now to determine how to collect taxes from nonresidents. Rather than wait longer, the board has decided to move forward with the partial distribution and wait for final resolution of the tax question before making a final distribution. We have been advised to expect a final resolution this year (but not told when that determination will be made).

So, if you have not received your cheque by August 1st, 2019, please contact TPI at droadmin@tradingplaces.com. Please note that all the pertinent documents, forms, meeting minutes & updates are available on the website: www.tradingplaces.com/psoe. The login for the owner’s corner is psoe and the password is craigbay.

As we have previously advised, PSOE is no longer in operation at Pacific Shores. Accordingly, please do not call the resort. They are not PSOE staff and have no information available to give you. If you are unable to find the information on the website you may contact me at katenalan@hotmail.com. I do not, however, have any information other than that made available on the website.

Don't forget to look at the very valuable time-sensitive special offer just for PSOE Owners from Vacation Internationale. Information about the VI Resorts timeshare vacation club are on their website at www.viresorts.com, click on the PSOE tab on the side. There are customer service representatives, at our exclusive PSOE phone number, available to answer your VI related questions.

Thank you everyone for your patience while we continue to work our way through this lengthy and complicated process.

Sincerely,

Kate Britton
PSOE Board Chair


SALE UPDATE – April 26, 2019

The sale of our Pacific Shores units is very near completion. Our management team at Trading Places has done an excellent job of assisting our legal team in collecting and recording all the information on the Certificates 1 & 2, submitted by over 2500 PSOE Owners. That list has been registered with the Buyer's lawyer and will assist with organizing the payment of 25% tax required for all non-Canadian residents from the sales proceeds.

Once that process is complete, the rest of the sales proceeds from our 61 units will be transferred to our PSOE bank account. We will then start organizing the disbursement to all our PSOE Owners. There may be a small additional disbursement upon the wrap up of the PSOE Association.

The collection of the Certificates has confirmed Owners current address information for the mailing. We anticipate this process to take between 4-6 weeks, at the most.

If you have not received your cheque by August 1st, 2019, please contact TPI at droadmin@tradingplaces.com.

As we have previously advised, PSOE is no longer in operation at Pacific Shores. Accordingly, please do not call the resort. They are not PSOE staff and have no information available to give you. If you are unable to find the information on the website you may contact me at katenalan@hotmail.com. . I do not, however, have any information other than that made available on the website.

Thank you everyone for your patience while we work our way through this lengthy and complicated process.

Sincerely,
Kate Britton
PSOE Board Chair


SALE UPDATE – March 20, 2019

Dear PSOE owners,

Over the past months, we have been updating you on the progress of the sale of Pacific Shores and your ownership at the resort.

As you know, the Court approved the sale in December 2018 and we have been working on clearing the titles to the over 3200 intervals involved. The registration of the strata lots into the buyer’s name was completed on March 6th and we will now begin the process of receiving the sales proceeds from the purchaser and paying them out to owners. This will happen over the next few months. Thanks to all who have returned their forms – we appreciate your participation.

If you have not have not already completed and returned the forms sent to you in February, please take a moment to do so now. The deadline to return the forms is March 29th. Our preferred method of receipt is a scan or photo via email to droadmin@tradingplaces.com.

The forms are available below:

Please DO NOT return the forms if you have already done so.
Thank you.


Important Information Related to PSOE Sale Documents – March 6, 2019

ATTENTION!!!

It is very important that PSOE Owners fill in the forms that have been sent out by mail, email, and posted on the website.

Please scan and email your Certificate(s), if at all possible. It is the quickest way to get your form registered within the time left and, if you are a Canadian resident, it will avoid any reduction in your share of the sales proceeds. Certificates can also be faxed to 949.315.3753.

Canadian residents:

All Canadian residents need to return Certificate 1 & 2 to droadmin@tradingplaces.com.

Certificate #1: just one Owner is required to sign this certificate, even if there are two or more Owners on title.

Certificate #2: we require your current personal residential address and how long you have resided there to confirm your Canadian residency.

Non-Canadian residents:

All non-residents need to return Certificate 1, to: droadmin@tradingplaces.com.

Certificate #1: just one Owner is required to sign this certificate, even if there is two or more Owners on title.

Most importantly, you must return the T2062 and return it to Canada Revenue Agency at:

Canada Revenue Agency – Section 116
PO Box 470 STN MAIN
Surrey BC V3T 5B7

Here are some basic answers for the questions on the T2062:

  • The name and address of the purchaser – 1025326 B.C. Ltd., 3378 Douglas Street, Victoria B.C., V8Z 3L3 (director is Rafer Strandlund)
  • Sufficient description of your property – example: a 1/52 undivided fee simple interest in Strata Lot # [insert], District Lot 22, Nanoose District and District Lot 2000, Nanaimo District, Strata Plan VIS 2036
  • Proceeds of disposition of the property – due to adjustments that have not yet been finalized, we are unable to provide this information. KPMG LLP (tax advisors) have suggested to use $1,000, but we recommend that you obtain your own independent tax advice. Also attached is a copy of the Vesting Order which includes the Purchase Contract as Schedule A, which is required to be provided. Vesting Order
  • Adjusted cost base of the property – please consult with your tax advisor.

Thank you to all the Owners who have already returned your Certificate(s). The legal process is moving along better than we anticipated and we continue to work hard to close this sale as soon as possible. If you have already returned your Certificate(s), you do not need to resend them.

Please do not scan/fax and then also mail in your certificates. We will respond to you if your certificate is scanned in to confirm receipt; there is no need to submit the documents more than once. It is not necessary to send the documents via registered mail.

Due to the high volume of emails sometimes things get missed, so if you haven't had a response from me, after checking the website and all the material sent out to answer your questions, please email me again at katenalan@hotmail.com.

Please do not contact our legal team; I am here and available to assist you. Our legal team is working very hard on every PSOE Owners behalf to get us to the finish line. It can be very costly to have Owners contacting our legal representatives.

Kate Britton


Important Note for Non-Canadian Residents – February 21, 2019

Upon completing the required form, Request by a Non-Resident of Canada for a Certificate of Compliance Related to the Disposition of Taxable Canadian Property (form T2062), please do not send to Trading Places. Please use one of the addresses below to return your form. Thank you.

Regular Mail

Canada Revenue Agency – Section 116
PO Box 470 STN MAIN
Surrey BC V3T 5B7

Certified/Registered Mail

Pacific S116 Centre of Expertise – VTSO
C/O Disposition Program – Sec 445-16
9755 King George Boulevard
Surrey BC V3T 5E1


SALE UPDATE – February 14, 2019

Dear PSOE Owners,

Your board is pleased to report that the sale of our 61 units at Pacific Shores is progressing well. We are now at the stage where there is an exhaustive legal process underway to clear the title to all 3,111 legal interests that comprise the sale. In this process, we are required to clear thousands of legal encumbrances before transferring the units to the buyer.

Both the directors and you, our PSOE Owners, were hopeful that this transaction would be completed by January 1, 2019; however, with numerous challenges encountered, including two additional court hearings related to the title process, that timeline could not be accomplished. Our legal team at Reed Pope, headed by Jaime Hall, has worked many long hours to ensure that we complete what our Owners have requested. Without Reed Pope's extensive knowledge, focus and guidance, it would have been even more challenging to achieve what we have so far.

Additionally, the board is happy to announce that, as of Friday February 8th, we have entered into a management agreement with the buyer. The management agreement will allow Holloway Management, the buyer's management company, to manage the PSOE units immediately and will substantially reduce PSOE's costs until we are able to close this transaction. The new buyer will take on the expense of our utilities, property taxes, strata fees and insurance. As there were no 2019 PSOE maintenance fees billed, the board has been very cognisant of managing our limited funds while completing our work.

Our goal is to have our legal team finish clearing the titles as soon as possible. We have been informed that after we have completed our work, the BC Land Title Office will take between 3 – 12 weeks to handle the final clearing of the 3,111 titles. This is possibly one of the largest group clearings ever done in BC and no small task. Until that process is completed, we will not receive the funds; therefore, they can not be disbursed until after we receive notification that the titles have cleared and transferred to the new Owner. Once that process is complete, we will finalize the legal requirements and receive the sales funds. Disbursement of the sales funds will occur after we have paid all our costs and obligations. Unfortunately, at this time, we do not have a clear indication of when that may occur. We are very hopeful that it will be before summertime.

The board thanks you all for your patience and support while we complete this complex task and successfully fulfill our commitment to all PSOE Owners and their request of the board at the July 2017 Special General Meeting.

We continue to receive supportive emails from Owners and for that we thank you. We also receive many questions and concerns. I would like to address some of them here: First, I want to make it very clear that the PSOE sale of our 61 units with disbursement of the sales funds and the Vacation Internationale (VI) timeshare club offer are two totally separate transactions.

Additional FAQs follow:

  1. All PSOE Owners who are current on their 2018 (and earlier) PSOE maintenance fees will receive their share of the sales proceeds after closing. The value for each week owned is expected to be around $900- $1000.
  2. The Vacation Internationale offer is a very valuable offer and is based on what you owned as a PSOE Owner at Pacific Shores. i.e. 1 PSOE week = 112 VI points.
  3. There is no cost to accept VI's offer, just payment of the annual VI maintenance fee after joining. (Their fiscal year is July 1 - June 30.) VI maintenance fees will be billed in June 2019 for those who have signed up for VI membership.
  4. The VI offer is time sensitive and only available to PSOE Owners.
  5. VI will not have access to Pacific Shores Resort.
  6. RCI will not have access to Pacific Shores Resort.
  7. Pacific Shores Resort is no longer a timeshare product in any timeshare program.
  8. VI’s Owner Services Department does not know the details of the PSOE unit sale. Please do not contact them and ask them questions about your PSOE ownership, the sale, disbursement of the sales proceeds, PSOE updates or Pacific Shores Resort. They do not know the answers and cannot be helpful on those topics.
  9. Now that Pacific Shores Resort is under the control of the buyer’s manager, Holloway Management, please do not call their front desk either with questions about your PSOE ownership, the sale, disbursement of the sales proceeds or PSOE updates. They are no longer our employees answering the phones. They do not know the answers and they are not being evasive.
  10. Trading Places International Management Canada, TPIMC, continues to be PSOE's Management Company and is assisting the board and our Owners until the PSOE Association is dissolved later this year. (Holloway Management is not PSOE's manager.)
  11. All PSOE updates are posted on your website, as well as emailed. Note, with the sale of PSOE all these documents are now available at www.tradingplaces.com/psoe. The User Name is psoe and the Password is craigbay.

    In the past, there have been some issues with email transmissions to some Owner's emails, in particular with service providers refusing delivery of our updates. As we have over 2500 Owners, it is very challenging, especially at this time, to chase down the issue and often it is required to be done by the individual Owners. Due to these challenges, please intermittently check the website for any further updates or information and for answers to your questions.
  12. There are Frequently Asked Questions (FAQ) both on our website, noted above, and on Vacation Internationale's website. Please check them to answer any questions you may have.

    Here is a link to VI, www.viresorts.com, PSOE Owners, to allow PSOE Owners to look at VI's resorts and acquaint themselves with this Owner controlled vacation club.
  13. For questions regarding your account, please contact tpicontact.us@tradingplaces.com. If you cannot find an answer to your questions, my contact information continues to be katenalan@hotmail.com.

Please keep an eye on your mail, as all PSOE Owners will be mailed a package providing you with directions to register your citizenship, as per Canada Revenue Agency requirements. The forms and information will also be posted on our website for Owners to access, wherever they are.

PLEASE NOTE: Non-Canadian Owners are required to register the sale of their PSOE ownership with Canada Revenue Agency within 10 days of closure, or earlier, to avoid large fines and interest charges. All details, with the required registration documents & instructions, will be in the mailed package and online on our website.


PSOE SALE UPDATE – February 2019

Town Hall Meetings – Recap
PSOE SALE UPDATE – December 14, 2018

Dear PSOE owners,

The Board has been on an emotional journey these past two years! We all love our resort and have enjoyed many wonderful holidays making memories there, as all our Owners have. Both the PSOE Board and the Strata Council have focused on addressing many deficiencies at our beautiful resort, while being very careful with our limited funds, over many years. However, with the growing delinquency and our Owners’ inability to fund the extensive required renovations, we have worked hard to fulfil our Owners’ July 2017 decision to approve the MOU and sell our units.

We had a very good turnout for our two informational meetings last weekend concerning the sale of PSOE holdings at Pacific Shores Resort. However, your PSOE Board of Directors does understand that many people were unable to make it to Parksville or Victoria on those days. So, we are writing this letter to give you an update on our progress.

The Board has negotiated a sale of PSOE holdings to Transtide Investments Limited Partnership. (Transtide will designate a BC numbered company to be the actual buyer at closing.) As you may know, Transtide is the owner of the commercial centre and the 200 block (formerly PSFRA, the fractional component of the resort). The sale is subject to court approval and a hearing is scheduled for December 19th in the Victoria BC Supreme Court for the court’s consideration.

Under the terms of the agreement, Transtide will pay $3,675,000 to PSOE for all interests held by PSOE and/or its members in 61 suites at Pacific Shores. This price was agreed upon after a year-long marketing and sales effort by Colliers International resulted last summer in just one offer for the combined property of PSOE and Transtide at Pacific Shores. That offer was for $9,000,000 and was deemed unacceptable by Transtide. PSOE then negotiated with Transtide to have Transtide pay PSOE the amount which PSOE would have received from a $9,000,000 sale under the Memorandum of Understanding approved by the PSOE membership in July 2017.

With this sale arranged, your PSOE Board is pleased to advise you that there will be no maintenance fee billing for 2019 for PSOE or Pacific Shores. If the sale closes in early January as expected, there will be a distribution of sale proceeds to PSOE members sometime in 2019 after that. There will be further announcements about the process of this distribution, so please look for that information in the coming months. Possession and operation of Pacific Shores will be taken over by Transtide on January 1, 2019.

There are just a couple of weeks left for owners to use Bonus Time at Pacific Shores before we close our units on December 31st! Now is the perfect time for a little getaway. Please call 250-586-7262 to check availability.

Regarding your future vacation plans, the Board invited Vacation Internationale Resorts (VI), a well-respected vacation club, to present a no-obligation offer to join their club for no membership fee (paying only the annual maintenance fees). Additional information about that can be found below.

Introduction of Vacation Internationale

We know that many Owners enjoy their timeshare experience. Your Board of Directors has worked closely with VI to develop a special opportunity for those PSOE members who wish to continue being a timeshare owner. VI is offering a free membership in their VI Program for PSOE Owners. There is no obligation to join VI and this offer is in no way tied to the closing of the resort and proceed distribution.

Your Board encourages you to take time to learn about the benefits that VI offers. Once again, this membership into VI is free, (you are responsible for the maintenance fee), with no hidden costs.

Please click here to see the VI presentation, along with Frequently Asked Questions (FAQ’s) about VI Resorts. Please call 800-871-6357, direct PSOE Owner line, for more information.


  1. Order of Master Bouck, pronounced November 21, 2018
  2. Information Circular – B – Nov 2018 (Summary of Court Proceeding)
  3. Information Circular – C – Chargeholders – Nov 2018 (Summary of Court Proceeding)
  4. Amended Petition to the Court
PSOE SALE UPDATE/MEETING INVITE – November 16, 2018

The Board would like to invite all owners to a town hall meeting to present an update on the sale of our 61 PSOE units. We have been limited in the information we could share to date and are happy to now have the opportunity to answer questions from our owners.

The Board is also pleased to be able to introduce Vacation Internationale (VI) to our owners. VI will be presenting an exciting opportunity for those of you who want to continue their vacation investment in a timeshare club. This ownership will also allow you to continue your membership with RCI &/or II if you so desire.

Please attend this special meeting as the VI staff can explain their program to you and answer your questions. There is no obligation to join and there will not be any high-pressure sales people around to “convince” you to join. There are absolutely no upfront costs and just a reasonable annual maintenance fee. Additional information on the VI program is available on the PSOE website at pacificshoresbc.com (the login is psoe and the password is craigbay) or at viresorts.com.

We will hold two meetings.

Saturday, December 8th 2018 at 12:30pm:
Parksville Community Centre, 132 Jensen Ave E Parksville, BC V9P 2H2

  • Seaside Auditorium
  • Parking lot for the building as well as 2 empty gravel/grass lots on either side of the Centre within a two block radius.

Sunday, December 9th 2018 at 11:00am:
University of Victoria, B115, Ring Rd, Victoria, BC V8P 5C2

We look forward to seeing you all in December!

Your PSOE Board of Directors

FAQ - PSOE and Vacation Internationale


PSOE SALE UPDATE – November 9, 2018

Thank you very much to all who attended the AGM last month. Your board wants to share additional information with you about the potential sale of Pacific Shores (PSOE and Transtide strata lots). As you know, the due diligence period is set to expire on November 9 and if that contingency is waived, we will be free to discuss the terms of sale with you.

The problems with rectifying errors in how titles were maintained in the past, however, will apparently take longer to resolve than we had hoped. Lawyers for PSOE are preparing a court filing to seek court approval for a solution that will involve notice to parties with an interest in the real property who are not on the PSOE membership list. This process is being pursued as quickly as possible, but it is likely going to require additional time. The potential buyer needs to be sure it will have clear title to thousands of interests and we understand that requirement. We hope you will continue to be patient.

Meanwhile, we are hoping to arrange one or more owner meetings for December (prior to Christmas). During these meetings we will be able to share detailed information about the sale with you. Vacation Internationale will also present its exciting offer that will allow PSOE owners to become members of its vacation club and continue to enjoy your vacations, should you wish to do so.

We will provide additional information about all of this as soon as we can via both email and mail. Due to the rotating strike by Canada Post and the possibility of mail delays, I strongly urge all owners to regularly check the Owners Corner of the PSOE website as the most updated information will be posted there. Please share this message with other owners who may not be receiving emails.


PSOE SALE UPDATE – July 30, 2018

We want to provide you with a status report on the sale process you approved a year ago.  

Since January of this year, Colliers International has marketed the property extensively to both domestic and international buyers.  Both online and in person activities have resulted in 30 potential buyers signing confidentiality agreements to receive detailed information.  Of these, 14 potential buyers have toured the property.

Despite these efforts, however, there have been no offers received.  One potential buyer did indicate a willingness to make an offer, but at a price that was not acceptable to the other seller, Transtide Investments.

At this time, therefore, there is no sale to report to you.

However, the marketing efforts are continuing, and we hope to be able to report a sale before the AGM, scheduled for October 27.   Other developments in relation to the process will be addressed at the AGM, including plans for 2019 in the event a sale is not concluded by the end of this year.

Please remember that any sale must be approved by the PSOE board of directors and by the court. Further, all owners will receive notice of any proposed sale and the schedule of a court hearing for its approval.

If you have any questions in the meantime, please let us know.


PSOE SALE UPDATE – MAY 1, 2018

Since late last year, when the BC Supreme Court approved the Board to proceed with the sale, Collier's International developed comprehensive marketing products and translated them into relevant languages. To date, 27 interested parties have signed the Confidentiality Agreement and received access to the large amount of Pacific Shores reports and informational material. Many tours have attended the resort and continue to be scheduled.

Collier's Aerial Tour

The Parksville real estate market is healthy and there have been recent sales of local hotels & resorts, with large financial investments going into redesigning, renovating and rebranding these locations. It is encouraging to see the market continue to strengthen and bring new investments to the Oceanside area. Overall the Canadian hotel investment market continues to be strong and resilient for the seventh consecutive year.

The Board understands the challenges of being patient and the concerns of our Owners through this unfamiliar process. Obviously, it does tend to take longer to market a multi-million-dollar commercial property, as opposed to a typical residential home or condo. The due diligence required by an interested investor is extensive and takes some time. In addition, there is no typical hotel statistical history, due to Pacific Shores timeshare past, therefore additional understanding and work is required by any serious investor.

We are working very hard to find the right buyer for our beautiful property. If, however, we are ultimately unsuccessful, the Board will be exploring different alternatives toward the end of 2018 on behalf of our Owners.

We promise to keep you all updated to any changes or developments. In the meantime, if you haven't already paid your annual maintenance fees please do so as soon as possible, so you can take part in the sales proceeds.

Nikii Morrison, PSOE's General Manager, and her fabulous staff continue to do an outstanding job ensuring our Owners and guests have wonderful vacations at Pacific Shores. There are still some spring & fall bonus weeks available to all our PSOE Owners again this year; a nice way to fit in an additional vacation at beautiful Pacific Shores.

Strata continues to be productive and is making progress throughout the property. The 500 block decks are being rebuilt, exterior walls assessed and repaired, power-washed and hopefully painted before the summer, weather depending. Nikii is working with the contractors to try and mitigate any issues with Owners weeks & reservations during this work. The replacement of the second half of the 600 block roof & skylights is also being scheduled. Over the winter, ILS, strata's landscaper, removed over 120 yards of underbrush from in front of the 700 block area, put non-slip protection on our many wooden walkways & bridges and cleaned the ponds.

PSOE SALE UPDATE - FEBRUARY 12, 2018

Collier's International has been actively marketing, advertising and showing the resort since the beginning of January. An undertaking of this magnitude takes time, patience and planning, with many questions and investigations from interested potential buyers.

We will continue to keep everyone updated as things move along. In the meantime, please continue to plan your 2018 vacations, whether enjoying Pacific Shores or booking with an exchange company.


On Friday, November 24th, our petition to allow PSOE to market units was approved by Justice Johnston in the BC Supreme Court. Our 61 units, along with the Transtide units and commercial centre, will be marketed by Colliers International Hotels. If a buyer is found and a qualified offer is made, all PSOE Owners will receive notice of court approval being sought.


Re: Court Order Summary

An email was recently sent to all Pacific Shores Owner Enterprises Ltd. (PSOE) owners with an email address on file. On the same day, these same documents were sent via post to owners without an email address on file. The documents are also posted below.

The communication and the materials below were provided to you because you are recorded as a member of PSOE and an owner of a weekly interest at the Pacific Shores Resort in Nanoose Bay, British Columbia.

Please check back to this site for additional information as it becomes available.


Good News for PSOE Owners!

Although we are still working through the process towards the sale of the resort that was approved by the owners in July, we have good news for owners who are trying to make vacation plans for 2018.

Your board of directors has been able to confirm that reservations will be accepted at the resort through December 31, 2018. This means that owners can book reservations through RCI, Trading Places or any other channel as normal, including their use weeks at Pacific Shores. We anticipate that any purchaser of the resort would take over control of the PSOE units on December 31, 2018.

Meeting Minutes

2018

2017

2016

2015

Pacific Shores Owners Enterprises Ltd. Board of Directors

Name Phone Fax Email
Kate Britton 250-756-9361 250-713-4449 katenalan@hotmail.com
Stuart Allen     stuart@stuartallen.org
Dave Hillmer 250-889-3513   dave@VictoriaListings.com
Harry Felsing 250-477-8913   felsing@telus.net
Richard DeWolf 250-586-8766   rdewolf@shaw.ca
Leonard Aylward 250-339-0288 250-339-0208 leonardaylward@shaw.ca
Claus Flemming 250-743-1147   chfcontracting@shaw.ca

FAQs

March 18, 2013

The following questions have been brought to our attention by a few of our association members:

RCI MEMBERSHIP – NO CHANGE

  1. Does being managed by Trading Places Management-Canada Inc. (TPIMC) change the PSOE affiliation agreement with RCI Exchange weeks or points program?
  1. NO, definitely not. Our association has a long-term Exchange Affiliation Agreement with RCI which qualifies our association units, and the owners thereof, to participate in the worldwide RCI Exchange.
  1. Does being managed by TPIMC cancel or replace my RCI Exchange membership?
  1. NO, definitely not. Your agreement to participate in the RCI Exchange whether weeks or points is a valid and continuing agreement between you and RCI. Nothing has changed and you should plan on continuing to use RCI to its full benefit. RCI will continue to provide you with wonderful quality exchanges. TPIMC as the management company will assist all owners with the deposit of your timeshare with RCI.

TRADING PLACES INTERNATIONAL (TPI) EXCHANGE OPPORTUNITY

Clarification:

Trading Places International (TPI), as the name describes, also operates an exchange. They have excellent opportunities for exchanges in Hawaii, Mexico and other areas throughout the United States. Being managed by TPIMC provides all association members a free membership in the TPI exchange system. There are no membership fees and their exchange fees are slightly less than the larger exchange companies.

MAINTENANCE FEE PAYMENTS

  1. Where should I make my maintenance fee payments?
  1. If you need to pay your annual maintenance fees or just your monthly or quarterly payment, please send your payments directly to the PSOE operating accounts at the bank so it will be received by the association or click here to pay online.

RENTAL OF CONDOMINIUM UNITS

  1. Does TPIMC rent timeshare units for owners?
  1. Yes, and yes. However, TPIMC itself is not a timeshare marketing company. However, we have some very exciting associations with re-marketing groups that we will be introducing to the PSOE board of directors as soon as possible. There will be a program to assist the association with the resale of owned intervals so there is a full contingent of owners paying their fair share of maintenance fees.
  1. Owner comment: “I bought a timeshare from another owner and I was not given all the same rights the owner had previously. That included use of the pool, hot tubs and fitness centre year-round. I was restricted from this benefit except for use during my use week time. I was also denied the ability to obtain bonus time at the discounted rate at all of the manager’s managed properties. Is this discrimination going to continue?”
  1. All new owners who come into the association will be provided the same benefits everyone else has within the PSOE units and associated common areas controlled by the Strata, of which we are all members. We feel that discriminating against any one owner over another for any reason is wrong. Each owner must pay his/her fair share of annual fees, which is what pays for the upkeep and care of the units and common areas.

BONUS TIME

  1. What are the rules, regulations, and rates for Bonus Time?
  1. Bonus Time can be booked 15 days or less (subject to availability). No minimum; 3 night maximum. May request additional nights after checking in (subject to availability). No guest use (owner use only).

    Rates:
    • Hotel - $49/night
    • 1 bedroom - $79/night
    • 2 bedroom - $99/night

Use Time Calendar

Click on calendar year to enlarge

2019
2020
2021
2022

Resales Information

Trading Places International does not participate in timeshare resales; however, the following information may be beneficial in starting the resales process. We encourage you to take advantage of this resource center from ARDA.

The ARDA-ROC Timeshare Resale Resource Center

The ARDA-ROC Timeshare Resale Resource Center is available on the ARDA-ROC.org website. Please click here to view the new ARDA-ROC Resale Center. This is a one-stop resource to educate timeshare owners about the resale process and to protect them from unscrupulous resale and marketing companies.

The goal of this new Resale Center is to offer owners an objective educational place on the web regarding traversing the thorny secondary market.

The Resource Center offers:

  • Information for consumers on how to find the right type of resale process to meet their individual needs.
  • Checklists to help them through the resale process including questions they may ask potential resale companies.
  • Information on how to identify scams and avoid commonly made mistakes.
  • A comprehensive list of frequently asked questions owners may have about reselling. Some of the most important questions dealing with such issues as whether or not legal and tax advice is believable; how the secondary market is regulated; and where to file complaints, along with websites to verify facts about a resale company.
  • A site that encourages owners to share information on their resale experience and the effectiveness of their resale efforts through an on-line survey.

Source: American Resort Development Association, 2011

Owner Perks

Bonus Time

Bonus Time is a perk that allows owners a discounted rate to return to their resort for a time that they may not own in. There are regulations put in place to also maximize the rental revenue for those owners who have placed their units in the rental program.

  • Bonus Time is available to all PSOE owners who are in good standing. It is for those owners on title only and owner must be occupying the room reserved. (non-transferable)
  • An owner can reserve up to 15 days in advance of check in.
  • An owner can reserve up to 3 consecutive nights, additional nights can be reserved after check in.
  • All reservations are subject to Bonus Time Availability.
  • Payment is due at the time of booking.
  • All reservations are final and non-refundable.

Bonus Time Rates as of Jan. 1, 2016:

Hotel/Studio C$49 + tax
One Bedroom C$79 + tax
Two Bedroom C$99 + tax

To reserve, please call Trading Places International at 800-365-6480 ext. 1 and ask to check “Bonus Time” availability.

Bonus Weeks

This opportunity is available until Dec. 15, 2018. It allows owners to reserve weeks in addition to the week(s) you already own.

  • This program is available to PSOE owners only; guest use is not permitted. (non-transferable)
  • The week may not be rented or deposited for exchange. It is for owner use only.
  • Consecutive weeks are allowed, however concurrent reservations may not be reserved. (Owners are not able to reserve 2 weeks for the same time period)
  • It is based on availability. (No sell limit for how many can be reserved in any given year per owner)
  • Reservations may be made now for any stays through Dec 15, 2018

Bonus Week Rates

One Bedroom C$725
Two Bedroom C$875

To reserve, please call Trading Places International at 800-365-6480 ext. 1 and ask to check “Bonus Weeks” availability.

Resales Webpage

Those owners looking to sell their timeshare can now post their information on the resort’s website. At the top right of this page you can click on RESALES and follow the prompts to see what is currently listed. If you are interested in listing your PSOE timeshare on the page please email the General Manager: Nikii Morrison at nikii.morrison@tradingplaces.com or call her at 250-586-7262 ext. 388.

The website is updated at the end of each month. Pacific Shores will contact you prior to each update so that you can provide any changes.

Note: Anyone interested in purchasing a timeshare listed will contact the owners directly.

Note: TPI and PSOE does not endorse using a resale company that requires funds up front. Please research any company prior to using their services.

Property Taxes

Maintenance Fees