BRISOL – Some of these questions have been asked before, by me and by others, but it would be nice to have the answers on the record, now that the city has more information Hopefully some answers can be provided later in the meeting as the committee discusses the submission.
Does this financial submission only address Phase 1, or does it address future phases. Will this process have to be repeated for each phase?
Who will “Vet’ the financial backers?
Is there any direct City money required as part of the financial assurance? Will the city incur any expenses?
Does the city have any obligation as part of this submission by the developer, such as a parking garage, utilities, roads, drainage, etc., other than a loan or grant?
What is the city’s protection if the developer defaults or chooses to sell? Will the new owner have to complete the project as submitted, or will the city get the property back?
Are there any stipulations, requirements such as housing etc. being required by any of the backers? For this phase and/or future phase?
Will there be a construction schedule, with penalties for non-performance? Who will monitor: will there be a “Clerk of the Works” responsible to report to the city?
Is there a time frame for start of subsequent phases?
Have all the permits been approved, building, parking, etc.?
Has a price been agreed upon for phase 1, subsequent phases?
As all or part of the agreement becomes public, I am sure that there will be many more questions. Again, I hope that the public, which been somewhat patient for all this time, will be given opportunities to get answers to their concerns.
William T. Stortz 31 Oxbow Drive Bristol.