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11/19/2006 6:41:07 PM
 
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Section 5: OPA Board Subject: Community Center Contract Msg# 391008
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It can't be scaled down at this point. Contracts are signed. The petition and subsequent referendum are not going to stop construction. Consequently, cancellation costs will escalate. We will end up paying about the same amount for nothing as the amount over $3.9 million. You voted NO for the initial referendum. Your side lost. Outside a costly lawsuit, construction will not be stopped and this 29,000 sq ft center will be built. The reserves essentially would be wiped out. Why would you be willing to further deplete the reserves to cancel any center contracts? The time for the petition was months and months ago. It is too late and too costly to stop it now. |
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For reference, the above message is a reply to a message where: hi tony, bill z "estimated" the cost of being a little over $2 million. since reserves are low (do you know how much we have in our depleted reserve funds?) could that be used for any loss that we might incur in case it does go to a second referendum? i wouldn't like it if the project were abandoned. i'd just like for it to be scaled down from what we have on the board now. i can't believe those properties have not been sold yet and any speculation as to what we can get for those properties is speculation. -aurore |
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