Laserfiche WebLink
<br />City Council <br />May 16, 1995 <br />Page Two <br /> <br />After twenty-three years of development experience, we at Dominium have learned that <br />development projects tend to evolve from the initial concept plans. Many meetings will <br />likely occur among the Dominium team members, City officials, and the neighborhood <br />residents. The project may evolve as a result of these discussions. The target market, unit <br />mix, unit density, site plan and timing of construction are all variables that could potentially <br />be modified. <br /> <br />With financial market conditions continually changing, the best available source of financing <br />today may not be the best in three to four months from now. We will explore in the near <br />future various sources of financing such as tax exempt bond financing, HOME funds, tax <br />credit financing, and conventional financing in an effort to structure the most desirable <br />financing structure. Therefore, we feel it would be inappropriate and misleading if we <br />would claim a specific structure today. <br /> <br />I hope this letter provides a better understanding of Dominium's proposal. The Dominium <br />development team strongly fees it can. develop an attractive and feasible projectat the Arona <br />site. <br /> <br />Very truly yours, <br /> <br />DOMINIUM MANAGEMENT SERVICES, INC. <br /> <br />d7//}t(/?C/J C &jc~/7?a,J <br />Armand E. Brachman <br />Vice President of Development <br /> <br />AEB/sl <br /> <br />cc: Dennis Welsch <br />