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South Bed Redevelopment Commission <br />Regular Ieeting - April 25, 1980 <br />4. COMMUNICATIONS <br />a. continued... <br />:r. Brademas: You would not certainly <br />haracterize that as negotiation. I have <br />een in negotiations quite a number of <br />imes and negotiation requires a communi- <br />ation back and forth. I offer this, etc. <br />ack and forth. The Mayor has said that <br />he reason for the selecting of this <br />articular group was their ability or <br />illingness to put up a $200,000 perfor- <br />ance bond. We would have been willing, <br />f necessary, to put up a 22 million dollar <br />erformance bond just as we did. when we <br />uilt the high rise project. We put up <br />00% performance bond for every project <br />hat we go on. I sign on them personally, <br />nd when you borrow on an EDC program, as <br />e obviously proposed to do, you sign on <br />hat personally; so you are personally <br />ound for the 2z million dollars on top of <br />he fact that you give a performance bond <br />or it. I reject completely, and I <br />on't want the general public to get the <br />dea, that there was ever any negotiation <br />ver made on behalf of the Redevelopment <br />omission towards me. Now what they did <br />or the others I do not know, but I want <br />D go on record to make sure that if you <br />ad come to me and said, "Tom here is what <br />e have to have ... we have to have at least <br />quarter of a million dollars performance <br />ond, I would have gotten back to you in <br />riting promptly with evidence that we <br />ould provide that. For the whole building, <br />of for four floors! <br />r. Nimtz: Mr. Ellison, it is my understanding <br />hat all bids and proposals have been rejected. <br />s that correct? Mr. Sweeney is that correct? <br />r. Sweeney: Yes. <br />r. Nimtz: Any further comments or discussion? <br />s. Derbeck: Is it your understanding that <br />11 of the original four bids were rejected? <br />-20- <br />