Can this deposit be treated as tax deduction?
No! One of the reasons for setting up a separate bank account for the escrow is to have transparency and have a clean audit trail. This protects the 501 (C ) 3 status of the PAA-MVI.
The PAA-MVI, in fulfilling its mission, will itself buy timeshares for the support of summer educational and cultural programs for our youth and any donations made to the PAA-MVI for this purpose will be tax deductable according to the rules of the IRS.

What transportation will be available?
The facility will have a Van service for transporting guests to the city and beaches of Rethymnon. Agreements with local car rental companies will be in place to provide rentals to guests at favorable pricing. Agreement with local taxi operators will be in place to expedite service to Guests at fair pricing. Our receptionist will provide all the assistance needed to make each arrangement.

Can we reserve our week for the Christmas or Easter Holydays?
Yes. You can reserve for any time period you wish provided it is available and not already taken.

Why participate?
•   It is a good investment financially because our pricing is well below market values and you can resell your time share later for a good profit. The only restriction to such a sale is that the PAA must be given the first option of refusal.
•   It is a good investment for preserving the connection of your family to Crete. You will have a comfortable place to stay worry free, meet friends, enjoy Crete, and learn about our cultural heritage.
•   It is a good investment in the future of the PAA because realized profits from the operation of this facility can be used to help our youth, and other groups, visit Crete. The facilities of the University of Crete, which are less than one mile way, give us a great opportunity for conducting educational and cultural programs for our youth.
•   You will lock-in today’s pricing for the future. We all know that inflation alone will cause market price increases; by buying now you will shelter your travel costs for the next 20 years at below current pricing.

What if you make more favorable offerings in the future?
This pricing is designed to cover costs and it is unlikely that a better offering can be made in the future. However, if that is to happen then the term of the leases from this offering will be extended without additional charges to bring them to parity with the new leases.

What happens at the end of the lease?
At the end of the applicable term and any extension thereof, the lease expires and the unit will revert back to the PAA-MCV or the PAA if there are no other stockholders. At that time the PAA-MCV will decide on the terms for granting an extension or a new lease. The owners of the expiring lease from this offering will have the first option on any further leases and will also get the most favorable rates.

ALL RESERVATIONS WILL BE ON A FIRST COME FIRST SERVED BASIS!!

Lease reservations will be numbered according to the date the deposit is received.

For questions call: 724-263-6762
For Reservations email dnouhakis@yahoo.com and cc stavrosns@odysseygroup.net