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idterrat �►i�l be ar tbe hi�ert r��e tJ�t tbe City conld h�►v�e earned pria� to tl�e <br /> rewbanem��ot uf thai ia�ereat. We ckri6od t�t �c certi�bo aE ooc�panc.y would be <br /> iru«i oo �n�r t�4ar+� a�er o( tb� proptrt�► ar �r r�rocwar uatit all oI tbe imprwemeati <br /> are oompktod aad tb�e Gty bat bce� re�mb�rsed at1 d the �ap �ad e�emes n hv <br /> iacarr�d 'u oompktin� aaY at tbe impruvemca� ar eafaria� tb�e �rtra�cnt Oat of th� <br /> Eundvosntal prouction th�! t!� G�ty b�+� uodert�rin� i�s a1l o[ t� w�bdivisiao �nea�cpb <br /> ir that it wi11 not is� �ap o�ttifx�a0e of aacupadc�► for the buildiqp und� wcb time a� a1� <br /> a[ Rb�e pu�lic iatp�wemeots bave bocn intt�tUtd t�o �e Mti�fa�ctioo d' t� 41'ty. If far wme <br /> reaw� tbe develo�rer kav�es t�a�vn, �ny suoc��tivt awaer of t6e property c�s�ot r�i�+�c a <br /> c�ertiBc�De o[ oocupancy �ntil u�eb i,ia�c �r tbare imprw�e�neats sre ia uid oompkted so t� <br /> s.u�cioo of tb� Gry. The kaa ot atwraocx wiil be prowidad b�r ebe V�r Nsaonaf <br /> 8�ok �f Mi�000a ie t6e a�,raed upaa iorm. Throu� t� nejotiutiaa p�ooe�a w►,e hav� <br /> avnipkicd � ktt�r af aiwrsna ih�� it arare ptotcctiwe af tbe Gty thaa tht oriji� dr�1 <br /> ws,t. Altbouj,6, t#�e fi�adameatal oaa�re o( � kttu d�wranoe is not like � kttu of ucdit, <br /> it d better t]�w t?x orijiatlletter of a�uranoe. Tbe Vafley National i3+►nk ���kiu= a lw�o <br /> ta L.ourisvilk Plar,�, Loc. to 000�tn�d th+t improYCa�cpt� aod ot�►er �ite frcilitie�. 'iLe�r alw <br /> pro�vick persoa�l �wrxat�cs, �uaraatedeein� tb� compktivo af tLe wbdivi:ian impravemeuts <br /> �u� coa�p�ia�ee wit6 thc s�bdivisiod. 7'bt Val3ey Nspowl Baal: of Ar'�cao� would apprav�e <br /> • wbdivi�sia� �rce.weat aad would stste tlut the b�wk'f dead of wst i� w�ordinated to <br /> t�t �roea�at, Thir portiaa would eliaiin�toe ua�der fotcclawr�, tl�e Gt�► from bo�iu: ita <br /> ri�a ��r �be ,wbdivi�oa �e,�meo�, � �C�Y{E OE �O�vtlliEqt� tOt� i�t1t <br /> t3S0.000. tbe ktLer o[ a�wraace wo��d be for tbe S3S0.000. We would hxve t1S.400 iA <br /> ca�h, perw�l atu►r�atu� fram tbt w�e ��dividux� wtw �re gwraateein� the �wn wit6 <br /> ti� bank. TLu i� tbe bcit tbat cka be don� witbo�t a ktz�r eE credit <br /> Nawua: :a t�6e report that was received from 800d� � Co., th�u aaly <br /> c�000era ic�mod to �e tb�►t there m�► bc whet a+tsti►ndin= <br /> I�ns that have pri�xity aer tbe Ciry My questioa i� t�o your <br /> koawkdAe it tbst tbe c�se n�d if it u tLe ca�e 1 would iike w <br /> kocyw it there is aAy way r�h�t t�e Gty c,xn in�wre w+e es3eu+�li�► <br /> b�tv�e fit�t loaa ri�hts? <br /> Cudlep: 1 don't q�tite uac�entaad whst is bei� �aid ia the ktt�et. Yca, <br /> w�e �re iovatvcd ia w�me o�her proj4ct�. Do they havc priority <br /> wet yau i�t�ertst� ov�' tbeir intercat? !t rutlly m�tters wbo <br /> req�esb th�t ca� 6t�t. Bondi � Co. t�ook a bok �t �t snd <br /> tbere i� w�c�c�t cas� �v�il�bk ia tbe diEferen� p�artiea. T�e <br /> City sbouW�a't be wartied 7bere � po otbtt loan� an <br /> L�vui�viUr. PL�a that �re ptio�rity to tl�e VaUey Natiaoai B�Wc <br /> •Ad t�e Citp. <br /> Howud: i t6ink wh�t they u�e Myinj u thst shere may be jaan� thst t�pe <br /> iui�rcip+� 6svt thal m�y. i� hct. �v�e pnorit�r to o�r intere�t. <br /> C�cflip: ?bc partia do have other kaaac� b�t t6ere a nothin� pead,inj <br /> �ut wouJd t�k�e pri4riry wct the Gry'c interesL <br />