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ti <br /> } <br /> ongoing relationship. She stated that last week she visited <br /> the site in question for the first time. She saw that it <br /> met the criteria of being in a second tier city and would <br /> meet the requirement of an "In-Fill" for the City. She was <br /> very excited about the project and was even more positive <br /> when she saw that further redevelopment and rehabilitation <br /> had been done along the East Bank area. She emphasized that <br /> her company is good at what they do and hire experts and <br /> then put into place the necessary ingredients for the site <br /> to have financing. She stated that the company has twenty <br /> million dollars in net worth and has adequate capital at its <br /> disposal for such a project. She further noted that they do <br /> not have a architect in place, however, speculated that the <br /> project would include a two hundred unit plus project and <br /> would probably be three to four stories in height. It would <br /> have a stepping effect with outside parking, a club house <br /> and green space. The structures would be of high quality <br /> using wood frame along with brick. Vinyl siding or possible <br /> cedar were being considered. The time line involved <br /> included a six month bond period with construction hopefully <br /> to begin by September 15th if all elements could be <br /> addressed. Within the next ten days if the Council acted <br /> favorably this evening there would be a "design development" <br /> and that an architect and appraiser were on standby. She <br /> also noted that her company had expended over $35, 000. 00 in <br /> capital in order to go to the next step of this proposed <br /> development. <br /> Councilman Niezgodski recommended that if the project would <br /> take place that they consider using Mastic Corporation with <br /> regard to vinyl siding. <br /> Councilman Slavinskas noted that at first he was reluctant <br /> with regard to the suggestion of a suspension, however, he <br /> had spent time in reviewing the various financial portfolios <br /> made available and believed that the developer was <br /> aggressive and very innovative with regard to their ideas. <br /> Councilman Voorde noted that he had been in meetings late <br /> last week and had the opportunity to review many of the <br /> documents in question and found it to be an exciting <br /> project. The Council Attorney also noted that she had been <br /> involved with these meetings and detailed conversations with <br /> Mr. Hunt on Sunday. <br /> Councilman Puzzello stated she was pleased that there was <br /> ongoing discussion with regard to the development of this <br /> area and requested that pictures be made available with <br /> regard to the proposed construction once that phase of the <br /> project was met. Ann Kolata noted that the project would <br /> have to be reviewed by the Design Review Committee and that <br /> when meeting dates were set by that Committee she would <br /> advise the Council of those specific dates. <br /> 3 <br />