Laserfiche WebLink
~ ~ ~ ~ i ,, <br />1 <br />October 26, 2000 <br />To: David HaRwig <br />Business Services Manager <br />From: Michael J. Hansen <br />Marion County Legal Counsel <br />Re: Courthouse Square-Pending Issues <br />Condominium A~reement. <br />The agreement is with Ben Fetherston, Jr., attorney for the transit district. I <br />have talked with Ben recently. He would like to get even a preliminary copy of the <br />condominium survey. He needs this make adjustments to descriptions in the <br />agreement. Once he is done, he and I can go over the documents and recommend a <br />final draft to you. <br />2. North Block-Is it part of the condominium project. <br />No. Parking and other improvements on the northerly fifty feet of Block 5 are <br />project improvements for purposes of county expenditure of bond proceeds. <br />Our Finance and Trust Agreement defines the Courthouse Square Project as <br />the building and improvements to be constructed on the site by the county and transit <br />district pursuant to the Development Agreement. The Development Agreement <br />includes in project costs all those construction items included the general construction <br />contract. However, the mortgage security pledges only the land and improvements <br />on the condominium plat. So, the parking and improvements on the northerly fifty <br />feet are not subject to the security interests for the COPs. <br />This was done intentionally, to keep the north block area apart from the <br />condominium. It is land that was intended to be owned jointly by transit and the <br />county free of FTA and COP obligations. <br />However, transit and the county may include this area in the condominium <br />