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South fiend .ede~eiopn~ent on~missien <br />eu~ ~~ Meeting ~Apri i ~~, ? ~~7 <br />6. NEW BUSINESS (CONT.} <br />mple-E~vir~g ~e~e~~p~e~t Area <br />contYt~ue ,., <br />phase ~ at 3~~},~~~ sft. I'ia~.se 1 has been <br />ca~npletedF phase is sti~i expected to be <br />co~~p~eted, but at a dater time when the <br />ca~npan}~ brows its retail ope~~ations to tine <br />paint they need additional d~str~.but~o~. <br />capacity. <br />At the tiro the prof ect was sta~~ted, growth <br />eras ~er~ stra~~g for A.,I. Wright and plans <br />were to bring that additio~~a~ capac~t~r a~. i~ne4 <br />b~~t i~~ ~o~e~~.ber ~~~~ th.e con~pan~ went <br />t~.raugh ~ repositioning, closing ~~ of its ~ ~ <br />stores. Those stores had profit Co~tr~butlons <br />that were si~~~~ca.nt~.~ below the balance of <br />tine chain. As part of that sane <br />.nna~~ncement A.,~. trite ~nd~cated that fire <br />to ten ~~ew sto~`es were expected to be opened <br />~~~ ADS. we have received word fro~~ t~~e <br />can~pan~ ti~at they I~ol~f expect to ape~~ eve <br />~~ew stores ~~~ ~~~7 a~~.d tern ~~~ stares in <br />~~~5, b~~t it mill still ta1~e theln tine to <br />generate the need ~`or additional dist~~ibnt~o» <br />capacity and can~plete phase ~~ <br />The goals fa~~ job creation with the project <br />are 5~°Io compete for ~l~ase ~, fix hundred <br />~i~'ty~se~e~~ jabs were to be created. The <br />number at the end of2~~~ was 379. An <br />additional 2~~ jobs related to phase ~ were <br />expected by the cnd of ~~~7. <br />o, tl~e ~`irst Amendment, in Article ~ <br />regarding dispasitia~~ of the deposit at <br />closing, What deposit cre~.ted a performance <br />g~~arantee escrow related to construct~an of <br />23~,5SS. It was put i~~to escrow and the <br /> <br />