Kisela: The two oustanding issues were that the contract requires the land be free of occupancy, and there’s commercial and residential occupants.
Miller: There’s a couple of items I do not have absolute satisfaction on.
Kisela: And they still want us to pay their realtor fees.
Miller: “Unless y’all break face with me, I put it to them in no uncertain terms that all the gamesmanship is up … I expect those issues likewise to put to sleep.” If not, “I’ll have some negatives to report back to you.”
Kisela; “We’ve been to the dance with these folks before” and they didn’t deliver. The occupancy issue is real.
Miller: He wants to make clear that when talking to the Clancys he and Greg have always made it clear that these issues are dealbreakers if they aren’t resolved.
Weidenhamer: At this point we’re not planning to charge for parking. We’re looking at spending $245,000 to $195,000 depending on whether we take out a 20 or 30 year mortgage. That’s way more than the St. Andrew’s property. “Fifty years from now we may not need a parking garage or the type of parking garage we’re thinking of today.” “With a purchase, we’re thinking of paying twice as much per year as with a rental or lease.”
Wood: If the money we were going to spend on purchase isn’t used, could it be used on Royal Melvin? Was it in the Mountain Drive loan we took out?
Kisela: The $8 million Mountain Drive loan goes on Mountain and the harbor boardwalk. This comes out of other funds.
Wood: He has a real worry that the parking won’t get used very much except during the major events such as Christmas. “I don’t care whether we buy or lease, I don’t much like the prospects.”

You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.