developer & architect response to the park board

7/23/2019 Developer & Architect Response to the Park Board

1/21

5027 Madison Rd, Cincinnati, OH 45227

August 19, 2015

Mr. Ken Kushner, Executive Director

Mr. Dale Bartholomew

Ms. Nadine Gelter

Mr. Tom TurchianoMr. Rob Herking

Ms. Angie Stocker

Anderson Township Park District

8249 Clough Pike

Cincinnati, Ohio 45255

Re: Beech Acres Parenting Center

Dear Mr. Kushner and Board Members:

Based on the letter from the Park Board posted on the District website on August 11th, it is clear that the

information previously provided by our group was either not received or has been overlooked. For the

purpose of clarity, the following details are being re-submitted.

1.

No Gap in Funding/No More Taxes

As stated in the attached letter sent on July 27th, all money required to build the new Anderson

High School and community campus on the Beech Acres site is available; there is no gap in

funding.

Project Budget:Land Costs (est) $ 6,900,000

Anderson High School (with auditorium, natatorium, and auxiliary gym) $ 57,000,000Site Improvements:

Including football soccer stadium; baseball stadium; softball stadium $ 5,500,000

Soft Cost/Contingency/Misc. $ 4,200,000

Total $ 73,600,000

Funding:

Partial Reallocated School District Renovation Funds $ 25,000,000

Guaranteed TIF Funding $ 48,600,000

Total $ 73,600,000

Any road improvement costs (estimated by the Township at $10M) associated with the

redevelopment of the existing high school site could be funded by multiple methods.

Options Include:1)

JEDD revenues derived from the new-mixed use development and the new Anderson High School

2)Excess TIF (potentially $40M or more) over the life of the 30-year TIF covering the mixed-use development

3)

Excess TIF revenues derived from the new Kroger development TIF, located across Beechmont Avenue from the

existing Anderson High School.

4)

TIF from the Townships area-wide TIF, which will be extended an additional 15 years with this years State of Ohio

Budget.


2/21


Within the past two weeks, our group has met with two Park Board members, Mr. Herking and

Mr. Turchiano, explaining that we are able to allocate $2 million toward the renovation of the

existing RecPlex. The funds are within our construction budget and delineate four acres around

the existing facility to be solely used by the Park District should the November levy be

unsuccessful. Furthermore, the Forest Hills School Board has expressed a willingness to deed

over property which they own at Ayer and Sherwood Elementary Schools, in addition to theaforementioned acreage (see images below). In total, the Park District will be gaining more than

10.5 acres of usable property.

Based on the above facts, the Park Board would not need to ask voters for any new taxes, yet

the community and the Board would still receive additional land and a renovated RecPlex.

Should you choose to pursue the November bond issue request, the total funds generated could

then be used for the construction of Park Board improvements to include a new RecPlex.

We welcome the review of the Anderson Township 2020 Plan by any financial expert in the

community.


3/21


2.

The Plan is Legal

The plan is 100% legal. Attorneys at Schroeder, Maundrell, Barbiere and Powers (SMB&P) have

provided a written statement testifying to the legality of the proposed procedure and structure

of Tax Increment Financing required by the Anderson Township 2020 plan. This letter was

provided to your board as an attachment to the July 27th

letter. We presently are securing asimilar opinion letter from another law firm to further validate the proposal. Similar funding

plans have already been executed for West Clermont Local Schools, The Banks (City of

Cincinnati), 4thand Race Tower (City of Cincinnati) among the many, demonstrating an

acceptance of the legality and financing of these endeavors.

Please note: Forest Hills School Board President Randy Smiths statement referenced on August

11th by the Anderson Park Board was taken prior to his review of Attorney Barbieres legal

opinion. Mr. Smith will be the first to tell you that he is neither an attorney nor a financial

expert in this area, and what he said at the time may no longer support his current perspective.

3.

TIF Money is Secure/No Credit Risk

As part of the July 27thpackage provided to the Park Board, Continental Real Estate Companies

(CREC) provided a letter testifying to the financial security of the TIF revenue. Another

attachment to that package was a sophisticated financial model tested by Andrew Brossart, CPA

of Fifth Third Securities, demonstrating that the TIF potential from the redeveloped existing

Anderson High School is $48.6 million dollars. The plan is not risky by even the most modest of

financial projections.

The credit risk that the Township has experienced with other TIF projects will not exist with the

Anderson Township 2020 Plan because the Hamilton County Port Authority will be the Issuer of

the bonds for this project. The Township will have no involvement other than directing the TIFfunds to the Port Authority. The Township has no risk.

For comparisons sake, please consider the following: In January 2015, a similar plan for the

West Clermont School District was rated by Moodys as very high. In fact, the deal ultimately

resulted in an enhanced credit rating for that district.

4. Existing Beech Acres Park/Amphitheater Will Be Unaffected

In the most recent site design, the existing Beech Acres Park and Amphitheater are unaffected.

While the design process is ongoing, we recognize the importance of listening and responding to

concerns of both the local government and the community. As a result of this consideration, the

current site design maintains all of the existing facilities associated with the current RecPlex

campus.


4/21


5. Parking is Increased

The Anderson Township 2020 site design guarantees that park visitor parking would not be

impacted by school functions. In fact, the new high school will provide an additional 535 parking

spaces. This new parking will serve the entire community, including residents who regularly

patronize the park and its facilities, as well as those attending special events such as Anderson

Days. Increased parking will make access to park facilities and programs easier for all attendees.

6. Due Diligence is Complete

Our development team and numerous consultantshave worked with multiple groups in

Anderson Township over the last four months as we realize the potential of the Anderson

Township 2020 plan. Many meetings, letters and conversations have occurred in order to

properly vet the design of the plan and all concerns and questions have been addressed by the

respective authorities. The resulting research and information have been compiled and

presented to the Park Board, School Board, Anderson Township Trustees and all other inquiring

parties. Should you wish to review any or all of the cumulative documentation, we are more

than happy to meet with you and your Board and walk you through the process that supports

the validity of this plan.

7. RFQ Response

The joint collaboration of attorneys, developers, financiers and all of the individuals involved in

Anderson Township 2020 has provided a financially sound plan that brings tremendous benefitto the entire Anderson Township community. We have spoken with Beech Acres Parenting

Center and believe we can come to a solution which benefits all involved. Mr. Hartmann,

representing the Parenting Center, wrote on July 14, It has been our strongest desire that the

Park Board, School Board and Trustees be able to work together to find a mutually beneficial

solution to which all parties could agree. That solution exists, and we can make it work for all

involved.


5/21


8.

Partnership

It is our hope that this letter helps to correct and clarify several of the items you outline as

obstacles to your interest in the Anderson Township 2020 Plan. Just as the members of the

School Board and the Township Trustees did, we ask that you reexamine the information

provided and recognize what a tremendous opportunity the plan provides for the community.

At your convenience, we are more than happy to meet with you individually, or with your board,to explain the specifics of the plan and the due diligence that led to its creation.

It is all up to you and the Anderson Township Park District Board Members.

Sincerely,

Rob Smyjunas E. Thomas Fernandez

Vandercar Holdings, LLC. SFA Architects, Inc.

CC:

Mr. Josh Gerth, Anderson Township Trustee

Mr. Russell Jackson, Anderson Township TrusteeMr. Andrew Pappas, Anderson Township Trustee

Mr. Randy Smith, Forest Hills School Board President

Ms. Julie Bissinger, Forest Hills School Board

Mr. Jim Frooman, Forest Hills School Board

Dr. Forest Heis, Forest Hills School Board

Mr. Tony Hemmelgarn, Forest Hills School Board

Attachments:

Letter to the Forest Hills School Board dated 7/27/15 (w/ updated financials listed below)

TIF Development Projections

TIF Revenues with Debt Service

Anderson High School COPS Bonds


6/21


July 27, 2015

Mr. Randy Smith, President

Ms. Julie Bissinger

Mr. Jim Frooman

Dr. Forest Heis

Mr. Tony HemmelgarnForest Hills Local School District

7550 Forest Road

Cincinnati, OH 45255

Dear Board Member:

It has been a pleasure to work with the Forest Hills School Board over the last four months in

realizing the potential of the Forest Hills School District and Anderson Township community.

We are proud that, together with the Anderson Township Trustees, we have worked to envision

an exciting future for the community through the Anderson Township 2020 plan. In recent

weeks much progress has been made to further investigate the plans financial viability, funding

strategy and legal structure. The progress made to date is presented below.

We are excited to continue our discussions with you and the community. It is our belief that the

proposed master plan adds significant value to the Township by boosting its economy,

enhancing the quality-of-life of its residents and improving the academic atmosphere for its

youth.

Summary of the Plan:

The Anderson Township 2020 plan is designed as a public/private partnership to strengthen the

community of Anderson Township by building a new high school and athletic complex on theBeech Acres site without raising any new taxes. Our development team has provided Anderson

Township and Forest Hills School District with a letter of intent to purchase Beech Acres

property at 6881 Beechmont Ave. Upon this site the team has proposed to build the District a

new High School, athletic campus and renovated recreation center for a total of $73.6 million.

Project Budget:Land Costs (est)

Anderson High School (with auditorium, natatorium, and auxiliary gym)$ 6,900,000$57,000,000

Site Improvements:

Including football (soccer stadium), baseball stadium, softball stadium $ 5,500,000Soft Cost/Contingency/Misc. $ 4,200,000

Total $ 73,600,000


7/21


This new academic campus will be realized in part through Tax Increment Financing (TIF)

resulting from the redevelopment of the current 48-acre high school site at 7560 Forest Road.

The redevelopment of the site will host a $120 million plus mixed-use development and

produce $48.6 million in guaranteed TIF dollars. The additional $25 million delta is resolved

through the reallocation of Anderson High School renovation funds approved by voters in 2014.

All money required to build a new Anderson High School is available; there is no gap in funding.

Funding:Partial Reallocated School District Renovation Funds $ 25,000,000Guaranteed TIF Funding $ 48,600,000Total $ 73,600,000

Since our original proposal, our team has received inquiries for additional information. The

below items address these specific lines of inquiry:

TIF Security Letter:

Attached are two documents prepared by Continental Real Estate Companies (CREC)reaffirming the financial security of the TIF revenue as proposed to the Anderson Township

Board of Trustees, Anderson Township Park District Board of Commissioners and the Forest

Hills Board of Education in past communications. On June 25, 2015 a Letter of Interest was

sent by CREC to the Anderson Township Board of Trustees outlining their intent for

redevelopment on the current Anderson High School property. In a separate letter dated July

27, 2015, CREC President Mr. David E Kass provides assurance of the financial tools proposed

and demonstrates surety of corporate underwriting.

Fifth Third Bank Financial Analysis:

Andrew Brossart, CPA of Fifth Third Securities has performed diligent forecasting and

analysis of the proposed funding. The thorough financial projections are attached. Fifth ThirdBanks highly sophisticated financial model demonstrates that the TIF potential for the Forest

Road site is $48.6 million dollars.

Legal Opinion:

The attached Legal Opinion is a letter formatted by the legal partnership of

Schroeder/Maundrell/Barbiere/Powers (SMB&P). The Legal Opinion confirms the procedure

and structure of Tax Increment Financing required by the Anderson Township 2020 plan is

achievable.

The Anderson Township Park District Board of Commissioners recently approved a motion toplace a bond levy on the November 2015 ballot to increase property taxes in order to purchase

the Beech Acres Site. This land is an integral part of the Anderson Township 2020 plan.

Needless to say, the aforementioned planned expansion of the communitys business core and

construction of a new, state-of-the-art high school campus will not be possible without full

cooperation from the Park Board.


8/21


It is the intention of the development team to answer any and all questions you may have

regarding the Anderson Township 2020 plan. We believe this plan presents a unique win-win

opportunity for all parties involved. Please let us know if you have any additional questions

that we may help answer.

Sincerely,

Rob Smyjunas E. Thomas Fernandez

Vandercar Holdings, LLC. SFA Architects, Inc.

CC:Mr. Dale Bartholomew, Anderson Park BoardMs. Nadine Gelter, Anderson Park BoardMr. Rob Herking, Anderson Park BoardMs. Angie Stocker, Anderson Park BoardMr. TomTurchiano, Anderson Park BoardMr. Josh Gerth, Anderson Township TrusteeMr. Russell Jackson, Anderson Township TrusteeMr. Andrew Pappas, Anderson Township Trustee


9/21

EXISTINGANDERSONTOWNSHIPPARK

DISTRICTPROPERTY

RecPlex

PLANNED NEW

ANDERSON HIGH SCHOOL

PROPERTYRESERVEDFORANDERSON

TOWNSHIPPARKDISTRICT


10/21


11/21


12/21


13/21

John W. Hust1

Lawrence E. Barbiere1

Todd M. Powers1,2

Christopher L. Moore

1,2,3

Jay D. Patton1,3

Scott A. SollmannKurt M. Irey

1

Katherine L. BarbiereJohn M. Milligan

Schroeder, Maundrell, Barbiere Powers

Attorneys and Counselors at Law

5300 SOCIALVILLE-FOSTER ROAD, SUITE 200

MASON, OHIO 45040

Tel. 513-583-4200

Fax. 513-583-4203

Writers Direct Dial Number

Of Counsel

William P. SchroedeMichael E. Maundre

Robert S. HillerMegan C. Ahrens

1,2,

Brian E. Hurley

Keating Ritchie & McGary LP

1 Also Admitted in Kentucky2 Also Admitted in West Virginia3 Also Admitted in Indiana4 Also Admitted in Massachusetts

July 27, 2015

(513) [email protected]

BOARD OF TRUSTEES OF

ANDERSON TOWNSHIP, OHIO

7850 Five Mile RoadCincinnati, Ohio 45230

FOREST HILLS LOCAL SCHOOL DISTRICT

75550 Forest Road

Cincinnati, Ohio 45255

Re: Development of New Forest Hills High School and Beech Acres Recreation Center

and Redevelopment of Old Anderson High site

Dear Sirs:

I am writing you on behalf of our client, Vandercar Holdings, to provide you with additional detailsconcerning the proposal to develop a new High School Facility for the Forest Hills School District, a future

recreation center on the Beech Acres site and the redevelopment of the current Anderson High School site. We

believe the project, as proposed, meets the legal requirements for the use of funds in Ohio as would begenerated under the proposed TIF.

The project envisions the use of a TIF, to be placed on the present Anderson High School Site, ( OldSchool Site), to facilitate the contemplated development. The TIF, as contemplated would be for 30 years and

100% of the increase in property value. We recognize that under the Ohio Revised Code, there are certain

restrictions which exist concerning the use of the funds generated by the TIF and in particular, the Code does

not allow for the distribution of PILOTs from tax increment funds to a school district in an amount which wouldexceed the amount of real property taxes that such school district would have received from the improvement if

it were not exempt from taxation. (See ORC 5709.75 (C)(1)(a)).

Fortunately, this should not be an issue as under the draft proposal, the PILOTs as may be generatedunder this proposal would be directed towards the Township. The project also contemplates the possibility of

directing portions of the PILOTs to the Anderson Township CIC, or to the Port Authority to retire debt as may

appropriately be attributed to the project. Either use of funds as may be generated by the TIF would beappropriate under the law.
mailto:[email protected]:[email protected]:[email protected]


14/21

Moreover, we also note that the Revised Code provides for various ways for a public body to convert

TIF PILOT cash flows to a lump sum up front payment, available to pay project or infrastructure costs. Forexample, in this project, as contemplated, the Old School Site could be purchased and held by a third party

public entity acting as a conduit for the development. In this instance, the Port Authority acting as the purchaser

of the property would issue debt to fund the purchase and the contemplated improvements on the parcel, which

would be backed by a pledge of PILOTs. Under such a framework, the debt is held by the Port Authority andthe revenue as generated would be used to retire this debt. For this reason, should the parties choose to address

certain expenses, up front, there is also a process, under the law, by which this can be accomplished.

Under the structure outlined above, the project as envisioned can be completed to the benefit of the

entire community. Should you have any question regarding this correspondence, please do not hesitate to

contact me.

Very truly yours,

Christopher L. Moore


15/21


16/21


17/21

Forest Hills Local School District, Ohio

$44,225,000 Anderson HS COPS Bonds-W Natatorium & Athletic

A1 - A+ Dated: June 1, 2016 - Tax Exempt

Table of Contents

Report

Sources & Uses 1

Pricing Summary 2

Net Debt Service Schedule 4

AndersonHSCOPSBonds-W|SINGLEPURPOSE|8/6/2015|3:41PM

FifthThirdSecurities,Inc.PublicFinance


18/21




Sources & Uses

Dated 06/01/2016 | Delivered 06/01/2016

Sources Of Funds

Par Amount of Bonds $44,225,000.00

Reoffering Premium 3,972,446.70

Transfers from Prior Issue BCF Funds 25,693,000.00

Total Sources $73,890,446.70

Uses Of Funds

Costs of Issuance 663,375.00

Surety Bond 43,380.00

Deposit to Capitalized Interest (CIF) Fund 4,318,950.00

Athletic Fields 5,000,000.00

Construction Fund w/Natatorium and Performance Aud 63,862,000.00

Rounding Amount 2,741.70

Total Uses $73,890,446.70


FifthThirdSecurities,Inc.PublicFinance Page


19/21




Pricing Summary Part 1 of 2

Maturity Type of Bond Coupon Yield Maturity Value Price

12/01/2019 Serial Coupon 3.000% 1.670% 20,000.00 104.503%

12/01/2020 Serial Coupon 3.000% 1.930% 40,000.00 104.590%

12/01/2021 Serial Coupon 3.000% 2.200% 730,000.00 104.122%

12/01/2022 Serial Coupon 4.250% 2.450% 755,000.00 110.755%

12/01/2023 Serial Coupon 4.250% 2.640% 785,000.00 110.889%

12/01/2024 Serial Coupon 4.250% 2.810% 820,000.00 110.820%

12/01/2025 Serial Coupon 4.500% 2.960% 855,000.00 112.671%

12/01/2026 Serial Coupon 4.500% 3.130% 890,000.00 111.183%

12/01/2027 Serial Coupon 4.500% 3.220% 935,000.00 110.404%

12/01/2028 Serial Coupon 4.500% 3.330% 975,000.00 109.461%

12/01/2029 Serial Coupon 5.000% 3.380% 1,020,000.00 113.070%12/01/2030 Serial Coupon 5.000% 3.450% 1,070,000.00 112.464%

12/01/2031 Serial Coupon 5.000% 3.510% 1,125,000.00 111.948%

12/01/2032 Serial Coupon 5.000% 3.560% 1,180,000.00 111.520%

12/01/2033 Serial Coupon 5.000% 3.600% 1,240,000.00 111.180%

12/01/2034 Serial Coupon 5.000% 3.640% 1,300,000.00 110.840%

12/01/2035 Serial Coupon 5.000% 3.670% 1,365,000.00 110.586%

12/01/2045 Term 1 Coupon 5.000% 3.850% 18,035,000.00 109.077%

12/01/2051 Term 2 Coupon 5.000% 4.200% 11,085,000.00 106.213%

Total - - - $44,225,000.00 -


FifthThirdSecurities,Inc.PublicFinance Page 2


20/21




Pricing Summary Part 2 of 2

Maturity YTM Call Date Call Price Dollar Price

12/01/2019 - - - 20,900.60

12/01/2020 - - - 41,836.00

12/01/2021 - - - 760,090.60

12/01/2022 - - - 836,200.25

12/01/2023 - - - 870,478.65

12/01/2024 - - - 908,724.00

12/01/2025 - - - 963,337.05

12/01/2026 c 3.235% 12/01/2025 100.000% 989,528.70

12/01/2027 c 3.399% 12/01/2025 100.000% 1,032,277.40

12/01/2028 c 3.556% 12/01/2025 100.000% 1,067,244.75

12/01/2029 c 3.757% 12/01/2025 100.000% 1,153,314.0012/01/2030 c 3.869% 12/01/2025 100.000% 1,203,364.80

12/01/2031 c 3.961% 12/01/2025 100.000% 1,259,415.00

12/01/2032 c 4.037% 12/01/2025 100.000% 1,315,936.00

12/01/2033 c 4.099% 12/01/2025 100.000% 1,378,632.00

12/01/2034 c 4.155% 12/01/2025 100.000% 1,440,920.00

12/01/2035 c 4.199% 12/01/2025 100.000% 1,509,498.90

12/01/2045 c 4.445% 12/01/2025 100.000% 19,672,036.95

12/01/2051 c 4.641% 12/01/2025 100.000% 11,773,711.05

Total - - - - $48,197,446.70

Bid Information

Par Amount of Bonds $44,225,000.00

Reoffering Premium or (Discount) 3,972,446.70Gross Production $48,197,446.70

Bid (108.982%) 48,197,446.70

Total Purchase Price $48,197,446.70

Bond Year Dollars $1,018,212.50

Average Life 23.023 Years

Average Coupon 4.9586948%

Net Interest Cost (NIC) 4.5685555%

True Interest Cost (TIC) 4.3000580%


FifthThirdSecurities,Inc.PublicFinance Page 3


21/21




Net Debt Service Schedule

Date Principal Coupon Interest Total P+I CIF Net New D/S

12/01/2016 - - 1,079,737.50 1,079,737.50 (1,079,737.50) -

12/01/2017 - - 2,159,475.00 2,159,475.00 (2,159,475.00) -

12/01/2018 - - 2,159,475.00 2,159,475.00 (1,079,737.50) 1,079,737.50

12/01/2019 20,000.00 3.000% 2,159,475.00 2,179,475.00 - 2,179,475.00

12/01/2020 40,000.00 3.000% 2,158,875.00 2,198,875.00 - 2,198,875.00

12/01/2021 730,000.00 3.000% 2,157,675.00 2,887,675.00 - 2,887,675.00

12/01/2022 755,000.00 4.250% 2,135,775.00 2,890,775.00 - 2,890,775.00

12/01/2023 785,000.00 4.250% 2,103,687.50 2,888,687.50 - 2,888,687.50

12/01/2024 820,000.00 4.250% 2,070,325.00 2,890,325.00 - 2,890,325.00

12/01/2025 855,000.00 4.500% 2,035,475.00 2,890,475.00 - 2,890,475.00

12/01/2026 890,000.00 4.500% 1,997,000.00 2,887,000.00 - 2,887,000.00

12/01/2027 935,000.00 4.500% 1,956,950.00 2,891,950.00 - 2,891,950.0012/01/2028 975,000.00 4.500% 1,914,875.00 2,889,875.00 - 2,889,875.00

12/01/2029 1,020,000.00 5.000% 1,871,000.00 2,891,000.00 - 2,891,000.00

12/01/2030 1,070,000.00 5.000% 1,820,000.00 2,890,000.00 - 2,890,000.00

12/01/2031 1,125,000.00 5.000% 1,766,500.00 2,891,500.00 - 2,891,500.00

12/01/2032 1,180,000.00 5.000% 1,710,250.00 2,890,250.00 - 2,890,250.00

12/01/2033 1,240,000.00 5.000% 1,651,250.00 2,891,250.00 - 2,891,250.00

12/01/2034 1,300,000.00 5.000% 1,589,250.00 2,889,250.00 - 2,889,250.00

12/01/2035 1,365,000.00 5.000% 1,524,250.00 2,889,250.00 - 2,889,250.00

12/01/2036 1,435,000.00 5.000% 1,456,000.00 2,891,000.00 - 2,891,000.00

12/01/2037 1,505,000.00 5.000% 1,384,250.00 2,889,250.00 - 2,889,250.00

12/01/2038 1,580,000.00 5.000% 1,309,000.00 2,889,000.00 - 2,889,000.00

12/01/2039 1,660,000.00 5.000% 1,230,000.00 2,890,000.00 - 2,890,000.00

12/01/2040 1,745,000.00 5.000% 1,147,000.00 2,892,000.00 - 2,892,000.00

12/01/2041 1,830,000.00 5.000% 1,059,750.00 2,889,750.00 - 2,889,750.00

12/01/2042 1,920,000.00 5.000% 968,250.00 2,888,250.00 - 2,888,250.00

12/01/2043 2,015,000.00 5.000% 872,250.00 2,887,250.00 - 2,887,250.00

12/01/2044 2,120,000.00 5.000% 771,500.00 2,891,500.00 - 2,891,500.00

12/01/2045 2,225,000.00 5.000% 665,500.00 2,890,500.00 - 2,890,500.00

12/01/2046 2,335,000.00 5.000% 554,250.00 2,889,250.00 - 2,889,250.00

12/01/2047 2,450,000.00 5.000% 437,500.00 2,887,500.00 - 2,887,500.00

12/01/2048 2,575,000.00 5.000% 315,000.00 2,890,000.00 - 2,890,000.00

12/01/2049 2,240,000.00 5.000% 186,250.00 2,426,250.00 - 2,426,250.00

12/01/2050 725,000.00 5.000% 74,250.00 799,250.00 - 799,250.00

12/01/2051 760,000.00 5.000% 38,000.00 798,000.00 - 798,000.00

Total $44,225,000.00 - $50,490,050.00 $94,715,050.00 (4,318,950.00) $90,396,100.00


FifthThirdSecurities,Inc.

developer & architect response to the park board

Documents