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Home My Public Portal AboutRE_ Gulf Stream Undergrounding Loan Renee Basel From:Lee Evett <levett@willdan.com> Sent:Wednesday, August 29, 2012 5:45 PM To:Brooke Cupell; mark Cc:Danny Brannon; Susan Schoettle-Gumm; Bill Thrasher Subject:RE: Gulf Stream Undergrounding Loan Brooke, we cannot exceed the total so yes Lee R Evett Vice President Southeast Operations Recipient of the 2012 Florida City/County Management Association Presidents Award "If you care, you do" Willdan Financial Services 7380 Sand Lake Road, Suite 500 Orlando, FL 32819 T. 407.352.3958 C 407.739.9190 F. 888.326.6864 levett@willdan.com Cost Allocation Plans/User Fee Studies, Fiscal/Economic/Real Estate Analysis, Infrastructure Assessment Studies, Utility Undergrounding and Fire Assessment Studies, Operational and Fiscal/Management Analysis, 911 Communication Center Consolidation Studies, Privatization Feasibility Studies, Water/Wastewater Utility Rate Studies -----Original Message----- From: Brooke Cupell Sent: Wednesday, August 29, 2012 5:37 PM To: 'mark' Cc: Lee Evett; 'Danny Brannon'; 'Susan Schoettle-Gumm'; 'Bill Thrasher' Subject: RE: Gulf Stream Undergrounding Loan Thank you, Mark. Susan, am I to use 4% administrative fees as I did for TRIM? Thank you, Brooke Cupell Senior Project Analyst Willdan Financial Services 1440 East Missouri Avenue, Suite C170 Phoenix, Arizona 85014 1 602.395.7541 951.587.3510 (Fax) -----Original Message----- From: mark \[mailto:mark.raymond@mraymondlaw.com\] Sent: Wednesday, August 29, 2012 2:26 PM To: Brooke Cupell Cc: Lee Evett; 'Danny Brannon'; 'Susan Schoettle-Gumm'; 'Bill Thrasher' Subject: RE: Gulf Stream Undergrounding Loan Here is the amortization schedule for the loan. -----Original Message----- From: Brooke Cupell \[mailto:bcupell@willdan.com\] Sent: Wednesday, August 29, 2012 11:02 AM To: mark raymond Cc: Lee Evett; Danny Brannon; Susan Schoettle-Gumm; Bill Thrasher Subject: RE: Gulf Stream Undergrounding Loan Thank you. Once we have the terms, we will calculate accordingly. The TRIM was an estimate until we had the terms. Brooke Cupell Senior Project Analyst Willdan Financial Services 1440 East Missouri Avenue, Suite C170 Phoenix, Arizona 85014 602.395.7541 951.587.3510 (Fax) -----Original Message----- From: mark raymond \[mailto:mark.raymond@mraymondlaw.com\] Sent: Wednesday, August 29, 2012 8:01 AM To: Brooke Cupell Cc: Lee Evett; 'Danny Brannon'; 'Susan Schoettle-Gumm'; 'Bill Thrasher' Subject: RE: Gulf Stream Undergrounding Loan You will have the amortization schedule from the bank later today. I noticed that the TRIM assessment roll you all provided appears to levy the assessments incorrectly. I noticed that the principal amount of the assessment shown is 10% of the total principal, which makes me think you contemplate the assessments being paid in 10 equal installments of principal, plus interest. This is not correct. The assessment is to be repaid in 10 equal installments of principal and interest (like a home mortgage). Mark E. Raymond 2 4360 Northlake Boulevard Suite 204 Palm Beach Gardens, FL 33410 Tel.: 561-775-8440 Fax: 561-775-8442 Cell: 561-758-0930 Email: mark.raymond@mraymondlaw.com website: www.mraymondlaw.com -----Original Message----- From: Brooke Cupell \[mailto:bcupell@willdan.com\] Sent: Wednesday, August 29, 2012 10:40 AM To: Susan Schoettle-Gumm; mark raymond; Bill Thrasher Cc: Lee Evett; Danny Brannon Subject: RE: Gulf Stream Undergrounding Loan Good morning, Please confirm that we are on schedule to have the loan terms by September 7th. I am going to be out of the office starting tomorrow and will be back on September 10th and will need the terms so I can calculate the levy and submit it to the County by the 14th. Thank you, Brooke Cupell Senior Project Analyst Willdan Financial Services 1440 East Missouri Avenue, Suite C170 Phoenix, Arizona 85014 602.395.7541 951.587.3510 (Fax) -----Original Message----- From: Susan Schoettle-Gumm \[mailto:spgumm@mailmt.com\] Sent: Friday, July 27, 2012 10:19 AM To: 'mark raymond'; 'Bill Thrasher' Cc: Lee Evett; 'Danny Brannon'; Brooke Cupell Subject: RE: Gulf Stream Undergrounding Loan That seems workable from the assessment perspective. If we have any delays, I think the roll can be adjusted to the loan terms even if the loan has not closed by Sept. 15th. Willdan will need the loan terms no later than Sept. 7th to make sure that changes can be quality checked, roll certified by the Mayor, and roll submitted to the Tax Collector by the 15th. -----Original Message----- From: mark raymond \[mailto:mark.raymond@mraymondlaw.com\] 3 Sent: Friday, July 27, 2012 12:52 PM To: 'Bill Thrasher' Cc: 'Susan Schoettle-Gumm'; 'Lee Evett'; 'Danny Brannon' Subject: RE: That plan does not give the banks enough time and provide enough time to finalize the tax roll by 9/15. I think we will have to have a special meeting. We should be able to send the RFP without TC approval, since it is not binding on anyone. We get the bank responses in about 3 weeks, then have the special TC meeting to approve the loan, say around the last week in August or first week in september, and close right after that, giving a week to finalize the tax roll. What do you think? Mark E. Raymond 4360 Northlake Boulevard Suite 204 Palm Beach Gardens, FL 33410 Tel.: 561-775-8440 Fax: 561-775-8442 Cell: 561-758-0930 Email: mark.raymond@mraymondlaw.com website: www.mraymondlaw.com -----Original Message----- From: Bill Thrasher \[mailto:bthrasher@gulf-stream.org\] Sent: Friday, July 27, 2012 12:42 PM To: mark raymond Cc: Susan Schoettle-Gumm; Lee Evett; Danny Brannon Subject: RE: I plan to request approval for a 10 note at the 8/10 Commission meeting. The RFP would follow that approval. The loan amount is correct. The next two meetings are 8/10 at 9:00 am and 9/14 at 4 pm. -----Original Message----- From: mark raymond \[mailto:mark.raymond@mraymondlaw.com\] Sent: Friday, July 27, 2012 12:36 PM To: Bill Thrasher Cc: 'Danny Brannon'; 'Lee Evett'; 'Susan Schoettle-Gumm' Subject: RE: IS $2,427,895.54 the loan amount? Do you want me to proceed to issue the RFP? If so: Please tell me when the town commission meets during august and September. Please send me the last three years audited financial statements of the town. 4 Mark E. Raymond 4360 Northlake Boulevard Suite 204 Palm Beach Gardens, FL 33410 Tel.: 561-775-8440 Fax: 561-775-8442 Cell: 561-758-0930 Email: mark.raymond@mraymondlaw.com website: www.mraymondlaw.com -----Original Message----- From: mark raymond \[mailto:mark.raymond@mraymondlaw.com\] Sent: Thursday, July 26, 2012 12:10 PM To: 'Bill Thrasher' Cc: 'Danny Brannon'; 'Lee Evett'; 'Susan Schoettle-Gumm' Subject: RE: So if the plan is to close the financing in early September, we should get started now. Does the Town know how much the project is going to cost? Does the town know how much it wants to borrow? Mark E. Raymond 4360 Northlake Boulevard Suite 204 Palm Beach Gardens, FL 33410 Tel.: 561-775-8440 Fax: 561-775-8442 Cell: 561-758-0930 Email: mark.raymond@mraymondlaw.com website: www.mraymondlaw.com -----Original Message----- From: Susan Schoettle-Gumm \[mailto:spgumm@mailmt.com\] Sent: Thursday, July 26, 2012 12:06 PM To: 'Bill Thrasher' Cc: 'Danny Brannon'; 'mark raymond'; 'Lee Evett' Subject: RE: Mid-September would be great but I think you would be OK if you close on the loan before November 1. If we know the terms by early September, the actual interest rate can be used to adjust the assessments before the certified roll is submitted to the Tax Collector on Sept. 15th. Susan -----Original Message----- From: Bill Thrasher \[mailto:bthrasher@gulf-stream.org\] Sent: Thursday, July 26, 2012 11:59 AM To: Danny Brannon; Susan Schoettle-Gumm Subject: FW: Can you tell me the answer to this? If we need to have financing completed before assessments are sent out, it seems to me that it should be the middle of September. 5 -----Original Message----- From: mark raymond \[mailto:mark.raymond@mraymondlaw.com\] Sent: Wednesday, July 25, 2012 11:57 AM To: Bill Thrasher Subject: I heard back from a bank today, and I think the actual rate for a 10 year deal will be around 2.2%. Are you to the point where I should get the RFP ready, and if so, when do you want to close the loan, and when does the town commission meet? Mark E. Raymond 4360 Northlake Boulevard Suite 204 Palm Beach Gardens, FL 33410 Tel.: 561-775-8440 Fax: 561-775-8442 Cell: 561-758-0930 Email: mark.raymond@mraymondlaw.com website: www.mraymondlaw.com 6