March 28, 2020

Dear Claremont Club Members:

I hope this letter finds you and your loved ones healthy and safe.  These have been trying times for all of us as we must learn to live in somewhat isolation.  You need to know how much we miss seeing you and are anxious for the time that we will be able to re-open the Club safely.  For those of you who have offered to continue to allow us to draft your dues through May (if necessary) we are grateful beyond words.  By doing this we are going to be able to continue to pay all 260 employees through May without having to furlough anyone. As per my letter dated March 21, we will reimburse you for the dues that were drafted while we were closed over a 10-12 month period after we re-open via a 30% discount off the dues payable once we open again for business.

So let me explain our plan of action.  It is my hope that we will be allowed to re-open the Club without restrictions by June 1 or sooner.   Your April & May dues along with using our Line of Credit and pursuing funds from the Stimulus package SBA Loan is our path to remaining in business and providing for our staff.  If the Stay at Home mandate continues we will rely on the SBA loan until we can safely reopen.  

I also want you to be up to date on what we know the Stimulus package will mean to you.  Please note the following:

The Government will be cutting checks to individual taxpayers as follows:

  • If single/$1,200

  • If married and filing jointly/$2,400

  • Plus $500 for each child under the age of 17

  • To receive checks you will need to have provided a valid social security number for yourself, your spouse and any qualifying children on your tax returns

  • If you are single with no kids you will not be eligible for this money if your Adjusted Gross Income (AGI) exceeded $99,000; married with no kids and your AGI exceeded $198,000 or married with 2 children and your AGI exceeded $218,000

As always, I am available for any questions you might have via email.  Again, thank you for your continued support and all of our thoughts are for you and your loved ones.

Yours in Good Health,

Mike Alpert