From Elmer to all members:

The list of ground floor units selection status that was emailed to you is for your information and input as follows:

 

A) If you are already on the selection list please

  1. Review the status and advise me if there are any corrections
  2. Those members who are away from Castlegar and were not available at the meeting February 19, 2008 need to complete information that is missing in the spreadsheet and advise me

 

B) Those members who are not on the selection list need to be aware of the following information and resolutions at Meeting 3800, February 17, 2008 if they intend to be part of the Ground Floor Life Lease construction program:

  1. Next selection date is Saturday, March 15, 2008
  2. To qualify for the selection process, note that a Loan Agreement I must be in place by midnight Friday, March 14, 2008
  3. Those who are either on the selection list or wish to qualify must advise their intent my March 07, 2008 in order to qualify for an Administration Fee of $1,000 when signing a Life Lease (expected sometime before construction start April 02, 2008)
  4. The Administration Fee will rise to $5,000 for all applicants after March 07, 2008

 

C) For General Information note the following:

  1. The KCSHC is in the process of awarding a contract to Alto Construction Limited of Vancouver, B.C. to construct the Ground Floor Units
  2. Construction start date is expected to be April 02, 2008
  3. Alto expects to construct the 37 committed Ground Floor units by the end of February 2009
  4. First group of units will be completed in September 2008
  5. Alto has cost savings available for all with additional units being committed by June 2008
  6. Alto pricing is firm till July 04, 2008
  7. There are still some negotiations taking place between the Building Committee and Alto
  8. Infrastructure construction will begin again on March 01, 2008
  9. Infrastructure completion is not determined at this time due to some items schedule not known at this time but substantial completion is expected during the Summer of 2008
  10. Occupancy Permits will be oremited  by the City of Castlegar only if Substantial Completion of the Infrastructure has been achieved

 

Should you have any questions or require more information, do not hesitate to contact Elmer Verigin .