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Home My Public Portal AboutRE_ Jupiter Inlet Colony (5) IPM.Note RE: Jupiter Inlet Colony RE: mark raymond SMTP mark.raymond@mraymondlaw.com Jupiter Inlet Colony Received: from impinc01.yourhostingaccount.com ([10.1.13.101] helo=impinc01.yourhostingaccount.com) by mailscan03.yourhostingaccount.com with esmtp (Exim) id 1QATcb-0002rO-Mm for dbrannon@bngengineers.com; Thu, 14 Apr 2011 16:58:37 -0400 Received: from omr14.networksolutionsemail.com ([205.178.146.64]) by impinc01.yourhostingaccount.com with NO UCE id XYyd1g00q1PbYAt02YydWC; Thu, 14 Apr 2011 16:58:37 -0400 Received: from cm-omr12 (mail.networksolutionsemail.com [205.178.146.50]) by omr14.networksolutionsemail.com (8.13.6/8.13.6) with ESMTP id p3EKwbib030337 for <dbrannon@bngengineers.com>; Thu, 14 Apr 2011 16:58:37 -0400 Received: from [173.9.133.9] ([173.9.133.9:4572] helo=mark372240a6a8) by cm-omr12 (envelope-from <mark.raymond@mraymondlaw.com>) (ecelerity 2.2.2.41 r(31179/31189)) with ESMTPA id 16/0C-28334-AFF57AD4; Thu, 14 Apr 2011 16:58:37 -0400 From: mark raymond <mark.raymond@mraymondlaw.com> To: 'Danny Brannon' <dbrannon@bngengineers.com>, 'Susan Schoettle-Gumm' <spgumm@mailmt.com> CC: 'Skip Randolph' <jrandolph@jones-foster.com>, 'Joann Manganiello' <jicolony@bellsouth.net> Subject: RE: Jupiter Inlet Colony Thread-Topic: Jupiter Inlet Colony Thread-Index: Acv6yhq0BOgVbKgmRDqNxUii4Byn5gAASK8gAAX/vfAAAMVSAA== X-MS-Exchange-MessageSentRepresentingType: 1 Date: Thu, 14 Apr 2011 20:57:48 +0000 Message-ID: <00a101cbfae6$9cd1fa60$d675ef20$@raymond@mraymondlaw.com> References: <004f01cbfaca$1ee82820$5cb87860$@raymond@mraymondlaw.com> <9BFB8A362F0A451AA27AB6D739C21723@SusanPC> <7B3188C60F6D4849B12B0E623C90F88E@bngengineers.local> In-Reply-To: <7B3188C60F6D4849B12B0E623C90F88E@bngengineers.local> Content-Language: en-US X-MS-Has-Attach: yes X-MS-TNEF-Correlator: x-mailer: Microsoft Office Outlook 12.0 x-en-origip: 205.178.146.64 Content-Type: multipart/mixed; boundary="_005_00a101cbfae69cd1fa60d675ef20raymondmraymondlawcom_" MIME-Version: 1.0 mark raymond SMTP mark.raymond@mraymondlaw.com 'Skip Randolph'; 'Joann Manganiello' 'Danny Brannon'; 'Susan Schoettle-Gumm' Mark Raymond Jupiter Inlet Colony I prepared the assessment documents for JIC. Joann, the Clerk, prepared the resolution required by 197.3632 in order to compel the tax collector and property appraiser to collect the assessments via the uniform method. If anyone wants the assessment resolutions I prepared just holler. 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 Home Tel: 561.625.1561 Email: mark.raymond@mraymondlaw.com Alt. Email: mer101559@comcast.net From: Danny Brannon [mailto:dbrannon@bngengineers.com] Sent: Thursday, April 14, 2011 4:41 PM To: 'Susan Schoettle-Gumm' Cc: 'mark raymond'; Skip Randolph; Joann Manganiello Subject: Jupiter Inlet Colony Susan, In reference to your question about Jupiter Inlet Colony, The Town Clerk collected all the required documents she needed per the statutes for both the Assessment process, Validation, and the Bonding. She indicated she just followed the statutes. She will be back next week after Tuesday if you want to talk to her. (Joan Manganiello 561-746-3787) She will not be available until then. [cid:image003.jpg@01CBFAC5.14FF2D40]Danny P. Brannon, P.E. Brannon & Gillespie, LLC 12798 West Forest Hill Blvd, Ste 102 Wellington, FL 33414-4704 Phone: (561)795-0833 - Fax: (561) 795-5678 Website: www.BnGEngineers.com<http://www.bngengineers.com/> ________________________________ From: Susan Schoettle-Gumm [mailto:spgumm@mailmt.com] Sent: Thursday, April 14, 2011 1:49 PM To: jrandolph@jones-foster.com Cc: 'Danny Brannon'; 'Bill Thrasher'; 'mark raymond' Subject: RE: gulfstream Mr. Randolph - I would like to discuss some of the other issues that need to be considered related to Mr. Raymond's concerns. I am currently drafting the ordinance that creates the assessment district and process for consideration and adoption of the assessments. The ordinance is currently planned for 1st reading at the Special Meeting on April 28th. I would appreciate it if we could discuss these issues later today or tomorrow, if possible, as I will be finalizing a draft ordinance in the next few days for submittal to the Town on April 21st. Feel free to give me a call at 941-377-4948 (office) or at 941-320-3054 (cell phone). Thank you, Susan Susan Schoettle-Gumm, PLLC Phone 941-377-4948 Cell phone 941-320-3054 Fax 941-371-8317 E-mail spgumm@mailmt.com This message, together with any attachments, is intended only for the addressee. It may contain information which is legally privileged, confidential and exempt from disclosure. If you are not the intended recipient, you are hereby notified that any disclosure, copying, distribution, use, or any action or reliance on this communication is strictly prohibited. If you have received this e-mail in error, please notify the sender immediately by telephone (941-377-4948) or by return e-mail and delete the message, along with any attachments. ________________________________ From: mark raymond [mailto:mark.raymond@mraymondlaw.com] Sent: Thursday, April 14, 2011 1:34 PM To: jrandolph@jones-foster.com; spgumm@mailmt.com Cc: 'Danny Brannon'; 'Bill Thrasher' Subject: gulfstream Skip: I just received a call from susan schoettle-gumm. She did not know that I was being considered as bond counsel for gulfstream, but rather she wanted to talk about jupiter inlet colony. However, our conversation turned to gulfstream. I told her that I had asked to see the ordinance in advance of the 4/18 meeting, and she explained to me that the ordinance was going to create a dependent assessment district. I question whether this is the best way for the town to proceed, and here is why. Most lenders are going to want more than the assessment as security for the debt. Lenders do not like special assessment debt because not only do they have to analyze each property subject to the assessment, but also a default in payment by one taxpayer causes a default on the debt. Typically, a special assessment loan would have a backup covenant to budget and appropriate (CBA) by the municipality. This places the collection risk on the town rather than the bank, and the town would make up any deficiency in the assessment from available non ad valorem revenues. While I understand that the entire town will not be assessed, this does not in itself mandate creation of a dependent district, as the town itself can assess only the benefitted property. Using the town as the assessing entity and borrower facilitates the back-up CBA. The lending environment is very constrained right now. Jupiter Inlet Colony only received one bid from the 12 banks solicited, Jupiter Island only received two, and Hillsboro Beach only received one. So anything that can improve the creditworthiness of the transaction is very important. I realize that the town hasn't hired me, but this is a very important consideration, and I think more thought needs to be put into the structure before 4/18. 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 Home Tel: 561.625.1561 Email: mark.raymond@mraymondlaw.com Alt. Email: mer101559@comcast.net ________________________________ No virus found in this message. Checked by AVG - www.avg.com<http://www.avg.com> Version: 10.0.1321 / Virus Database: 1500/3573 - Release Date: 04/14/11 ________________________________ No virus found in this message. Checked by AVG - www.avg.com<http://www.avg.com> Version: 10.0.1321 / Virus Database: 1500/3573 - Release Date: 04/14/11 ________________________________ No virus found in this message. Checked by AVG - www.avg.com<http://www.avg.com> Version: 10.0.1321 / Virus Database: 1500/3573 - Release Date: 04/14/11 4C8BFB043935D84D84B4F97371A77B77@namprd09.prod.outlook.com <00a101cbfae6$9cd1fa60$d675ef20$@raymond@mraymondlaw.com> <004f01cbfaca$1ee82820$5cb87860$@raymond@mraymondlaw.com> <9BFB8A362F0A451AA27AB6D739C21723@SusanPC> <7B3188C60F6D4849B12B0E623C90F88E@bngengineers.local> <7B3188C60F6D4849B12B0E623C90F88E@bngengineers.local> Renee Basel Renee Basel EX /O=EXCHANGELABS/OU=EXCHANGE ADMINISTRATIVE GROUP (FYDIBOHF23SPDLT)/CN=RECIPIENTS/CN=3BAA9F04D837426B9ED16B03EC111B7B-RBASEL EX /O=EXCHANGELABS/OU=EXCHANGE ADMINISTRATIVE GROUP (FYDIBOHF23SPDLT)/CN=RECIPIENTS/CN=3BAA9F04D837426B9ED16B03EC111B7B-RBASEL mark raymond mark raymond Renee Basel Renee Basel mark.raymond@mraymondlaw.com mark.raymond@mraymondlaw.com rbasel@gulf-stream.org rbasel@gulf-stream.org II=[CID=6c15e804-26a8-3a44-8dc5-48a2e01ca7e6;IDXHEAD=CBFACA1AB4;IDXCOUNT=4];SBMID=4;SBT=6;S2=<000301cbfae9$73a70240$5af506c0$@raymond@mraymondlaw.com>;RTP=Ancestor;TDN=Same;TFR=NotForking;Version=Ver sion 15.20 (Build 2157.0), Stage=H15;UP=D0;DP=105 en 3BAA00A02D7FACF6 RBasel@gulf-stream.org 00000002/o=ExchangeLabs/ou=Exchange Administrative Group (FYDIBOHF23SPDLT)/cn=Recipients/cn=3baa9f04d837426b9ed16b03ec111b7b-rbasel 'Danny Brannon' SMTP dbrannon@bngengineers.com dbrannon@bngengineers.com 'Danny Brannon' 'Susan Schoettle-Gumm' SMTP spgumm@mailmt.com spgumm@mailmt.com 'Susan Schoettle-Gumm' 'Skip Randolph' SMTP jrandolph@jones-foster.com jrandolph@jones-foster.com 'Skip Randolph' 'Joann Manganiello' SMTP jicolony@bellsouth.net jicolony@bellsouth.net 'Joann Manganiello' image001.jpg .jpg image001.jpg image001.jpg image/jpeg image001.jpg@01CBFAC5.14FF2D40 EnUs image003.jpg .jpg image003.jpg image003.jpg image/jpeg image003.jpg@01CBFAC5.14FF2D40 EnUs [if !mso]> <style> v\:* {behavior:url(#default#VML);} o\:* {behavior:url(#default#VML);} w\:* {behavior:url(#default#VML);} .shape {behavior:url(#default#VML);} </style> <![endif] gulfstream I prepared the assessment documents for JIC. Joann, the Clerk, prepared the resolution required by 197.3632 in order to compel the tax collector and property appraiser to collect the assessments via the uniform method. If anyone wants the assessment resolutions I prepared just holler. 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 Home Tel: 561.625.1561 Email: mark.raymond@mraymondlaw.com Alt. Email: mer101559@comcast.net From: Danny Brannon [mailto:dbrannon@bngengineers.com] Sent: Thursday, April 14, 2011 4:41 PM To: 'Susan Schoettle-Gumm' Cc: 'mark raymond'; Skip Randolph; Joann Manganiello Subject: Jupiter Inlet Colony Susan, In reference to your question about Jupiter Inlet Colony, The Town Clerk collected all the required documents she needed per the statutes for both the Assessment process, Validation, and the Bonding. She indicated she just followed the statutes. She will be back next week after Tuesday if you want to talk to her. (Joan Manganiello 561-746-3787) She will not be available until then. 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Brannon, P.E. Brannon & Gillespie, LLC 12798 West Forest Hill Blvd, Ste 102 Wellington, FL 33414-4704 Phone: (561)795-0833 - Fax: (561) 795-5678 Website: http://www.bngengineers.com/www.BnGEngineers.com From: Susan Schoettle-Gumm [mailto:spgumm@mailmt.com] Sent: Thursday, April 14, 2011 1:49 PM To: jrandolph@jones-foster.com Cc: 'Danny Brannon'; 'Bill Thrasher'; 'mark raymond' Subject: RE: gulfstream Mr. Randolph - I would like to discuss some of the other issues that need to be considered related to Mr. Raymond's concerns. I am currently drafting the ordinance that creates the assessment district and process for consideration and adoption of the assessments. The ordinance is currently planned for 1st reading at the Special Meeting on April 28th. I would appreciate it if we could discuss these issues later today or tomorrow, if possible, as I will be finalizing a draft ordinance in the next few days for submittal to the Town on April 21st. Feel free to give me a call at 941-377-4948 (office) or at 941-320-3054 (cell phone). Thank you, Susan Susan Schoettle-Gumm, PLLC Phone 941-377-4948 Cell phone 941-320-3054 Fax 941-371-8317 E-mail spgumm@mailmt.com This message, together with any attachments, is intended only for the addressee. It may contain information which is legally privileged, confidential and exempt from disclosure. If you are not the intended recipient, you are hereby notified that any disclosure, copying, distribution, use, or any action or reliance on this communication is strictly prohibited. If you have received this e-mail in error, please notify the sender immediately by telephone (941-377-4948) or by return e-mail and delete the message, along with any attachments. From: mark raymond [mailto:mark.raymond@mraymondlaw.com] Sent: Thursday, April 14, 2011 1:34 PM To: jrandolph@jones-foster.com; spgumm@mailmt.com Cc: 'Danny Brannon'; 'Bill Thrasher' Subject: gulfstream Skip: I just received a call from susan schoettle-gumm. She did not know that I was being considered as bond counsel for gulfstream, but rather she wanted to talk about jupiter inlet colony. However, our conversation turned to gulfstream. I told her that I had asked to see the ordinance in advance of the 4/18 meeting, and she explained to me that the ordinance was going to create a dependent assessment district. I question whether this is the best way for the town to proceed, and here is why. Most lenders are going to want more than the assessment as security for the debt. Lenders do not like special assessment debt because not only do they have to analyze each property subject to the assessment, but also a default in payment by one taxpayer causes a default on the debt. Typically, a special assessment loan would have a backup covenant to budget and appropriate (CBA) by the municipality. This places the collection risk on the town rather than the bank, and the town would make up any deficiency in the assessment from available non ad valorem revenues. While I understand that the entire town will not be assessed, this does not in itself mandate creation of a dependent district, as the town itself can assess only the benefitted property. Using the town as the assessing entity and borrower facilitates the back-up CBA. The lending environment is very constrained right now. Jupiter Inlet Colony only received one bid from the 12 banks solicited, Jupiter Island only received two, and Hillsboro Beach only received one. So anything that can improve the creditworthiness of the transaction is very important. I realize that the town hasn't hired me, but this is a very important consideration, and I think more thought needs to be put into the structure before 4/18. 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 Home Tel: 561.625.1561 Email: mark.raymond@mraymondlaw.com Alt. Email: mer101559@comcast.net No virus found in this message. Checked by AVG - http://www.avg.comwww.avg.com Version: 10.0.1321 / Virus Database: 1500/3573 - Release Date: 04/14/11 No virus found in this message. Checked by AVG - http://www.avg.comwww.avg.com Version: 10.0.1321 / Virus Database: 1500/3573 - Release Date: 04/14/11 No virus found in this message. Checked by AVG - http://www.avg.comwww.avg.com Version: 10.0.1321 / Virus Database: 1500/3573 - Release Date: 04/14/11