Development Team Meeting Notes (96-99)

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This property is scheduled to close November 30. ' ~ R.G. reported that he has received a call from Martinez, the attorney for the All Bros. lease s ace. They may be interested in the Derfler Building. Da.n is working with Gene Derfl~r regarding Harlow and remodeling in order to help the tenants relocate. I The YMCA board has met regarding Courthouse SquazelCourthouse Fitness Center d Day Care. Dean Wallace was in contact with R.G. several months ago, but there are no negotiations t this time. Randy reported that that he told the YMCA that he didn't have any new data regarding th fitness center. R. G. stated that it is important to get all of this in writing so there is a paper trail. ~ Dan reported that he has had a call from the Learning Center. They are interes facility. Randy said that YWCA is also very interested. He met with YMCA this R might be a partnership. The status of the letters-of-intent was discussed. Randy cunently a county survey being executed regarding day care needs. Dan led a discussion around some of the FTA issues. Dan needs for Randy to c County estimates. Curt is bringing the project estimates on consultants fees. Ran costs such as legal fees and cost-to-move estimates will affect the total budget. Dan including a11 possible options of expenses, as soon as possible to figure into the Gr most of the relocation costs can be attributed to the federal budget. R.G. spoke al (the FTA attomey). in the day caze The best deal ed that there is ~plete the Marion is looking at how ~nts to get a total, R. G. stated that t this with Shelly RELOCATTON I ~ The reloca.tion for Marion County is still pending. However, site choices are being n~ wed down. Dan has a meeting with Randy set for November 6. to work on this. It may be possible t start negotiations as early as ne~ week. Dan stated that one catch is that some issues will not be totally resolved regard' g relocation until December. Dan is still trying to determine how to deal with Jack on his remodel w k, but stated that he ~pects this to be favorably resolved. The only reason this project could be postp ned is if the cash flow gets interrupted by the FTA sitting on documents. ~, FINANCING ~~ Dan reported that a meeting with the finance team took place on October 29. A me~ting is scheduled on November 6, with Mike Hansen to discuss selecting bond counsel. , The delays in funding are a problem and will create a"ripple" effect for the project. Ra.ndy said that, if needed, he can put his own architects on the, as well as start on the floor plans of e Fox property. Dan stated that when they go to the FTA, they must agree that the whole philosophy of the project so that Dan can start spending money. Randy reported that he can come up with 20% n first purchase. There was discussion on how to time the financing, which will enable the team to etermine how to spend the grant monies. ~ PROJECT DEVELOPMENT ', Randy reported that a preliminary intergovernmental agreement has been signed. T~e condominium