The Village at Izaty's, 5 Star Resort, Interval International affiliated, Onamia, MN

by Cary & Elaine Johnson
(Pelican rapids, MN)

The 6 plex units at the Village at Izaty's, Onamia, MN

Are you considering exchanging into The Village at Izaty's at Onamia, Minnesota? I am enclosing the latest news at the: www.thevillageatizatysresort.com website. Because I used to work at this resort and consider this to be a 5 Star Resort in the Interval International trading system, I feel it necessary to give you some information before you request a exchange.

The timeshare units are the finest you will ever stay in. You would not regret that. However, the resort facilities, the golf courses, the marina, the main club house by the marina, the indoor and outdoor pools are in the bankruptcy proceedings. Even the sewage facility is controlled by the bankruptcy proceedings.

The bankruptcy auction is scheduled for April 3rd 2008. The hopes is a major hotel or resort corporation will take over the facility and the Interval International exchangers will not be affected by the time summer of 2008 rolls around.

You might want to check about this information before exchanging into the resort through Interval International. Here is the article.

"January 2, 2008

The Village at Izatys Association Board of Directors is writing to inform all timeshare owners that Izatys Group, LLC has filed a Voluntary Petition under Chapter 11 of the U.S. Bankruptcy Code as of December 21, 2007. Izatys Group, LLC is the owner of Izatys Resort, which consists of the Clubhouse, Links Lodge, Walleye World and the two golf courses – The Sanctuary and Blackbrook. In no way is The Village at Izatys associated with Izatys Resort with the exception of an agreement with Izatys Resort to provide certain amenities such as the indoor and outdoor pools, tennis courts, indoor and outdoor hot tubs and the Leisure Links golf holes. In addition, Izatys Resort is obligated to operate and maintain the sewer system through a Sewer System Easement and Operation Agreement between Izatys Resort, Izatys Townhouse Association and the Village at Izatys Association.

In order to protect the interests of the Association, the Village at Izatys Board of Directors has retained the services of Larkin, Hoffman, Daly & Lindgren, LTD.

We have also been informed that it is the intent of Izatys Group, LLC to conduct an auction of the resort and golf courses sometime during March, 2008. It has been stated that the auction will be held by a national auction firm with the intent to sell to a group that will bring in new concepts and money that will benefit the entire resort complex. The Village Board of Directors believes that the bankruptcy is actually a positive step forward and that a new owner will most certainly improved the overall resorts facilities.

Any questions or concerns should be directed to the Village at Izatys Administrative staff at 800-980-5121, but please keep in mind that information is limited and that we cannot predict what the future will bring. We will certainly keep everyone informed as pertinent information becomes available."

Sincerely,