Early December CIT Update

Construction Interface Team Report, December 4, 2019

LOTS has happened in November!

1. Our promotional video released in October has led to a wave of new associates and members: we now have 30 members and 9 associates. If all the associates become members, we will have all 39 units spoken for!
2. The garage was demolished, and three trees at the north end of the property were cut down to make way for the construction crews.
3. Construction is slated to begin mid-February! That is, it will begin mid-February contingent upon our attracting enough investors to bring us up to 25% equity. If you are interested in investing or if you know someone who is, please contact Jim Dawson at funnymanjim@gmail.com.
4. Only 15 parking spaces have been reserved from members and associates so unless the city requires it, it looks like we might be able to reduce some parking spots on the south apron of the land due to the lower demand, and that would have cost savings ramifications for the whole LLC.
5. With 30 members and 9 associates currently, the CIT team discussed that we may shorten the Associate period to 30 days for new associates.
6. UP&D, our developer, is moving forward with Numerica to get an appraiser.
7. We need help milling those felled pine trees on the vacant lot. If you are good with a chainsaw reach out to Jim as Doug has offered his chainsaw mill for cutting up the boards (it’s just a chainsaw with a special jig to guide the blade).