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Home My Public Portal AboutRE_ Jupiter Inlet Colony (4) IPM.Note RE: Jupiter Inlet Colony RE: mark raymond SMTP mark.raymond@mraymondlaw.com Jupiter Inlet Colony Received: from impinc03.yourhostingaccount.com ([10.1.13.103] helo=impinc03.yourhostingaccount.com) by mailscan04.yourhostingaccount.com with esmtp (Exim) id 1QAjSb-00041P-Jg for dbrannon@bngengineers.com; Fri, 15 Apr 2011 09:53:21 -0400 Received: from omr10.networksolutionsemail.com ([205.178.146.60]) by impinc03.yourhostingaccount.com with NO UCE id XptL1g03a1JQqpp03ptL95; Fri, 15 Apr 2011 09:53:21 -0400 Received: from cm-omr9 (mail.networksolutionsemail.com [205.178.146.50]) by omr10.networksolutionsemail.com (8.13.6/8.13.6) with ESMTP id p3FDrKws016693 for <dbrannon@bngengineers.com>; Fri, 15 Apr 2011 09:53:20 -0400 Received: from [173.9.133.9] ([173.9.133.9:1040] helo=mark372240a6a8) by cm-omr9 (envelope-from <mark.raymond@mraymondlaw.com>) (ecelerity 2.2.2.41 r(31179/31189)) with ESMTPA id 45/FF-04897-FCD48AD4; Fri, 15 Apr 2011 09:53:20 -0400 From: mark raymond <mark.raymond@mraymondlaw.com> To: 'Susan Schoettle-Gumm' <spgumm@mailmt.com>, 'Danny Brannon' <dbrannon@bngengineers.com> CC: 'Skip Randolph' <jrandolph@jones-foster.com>, Bill Thrasher <bthrasher@gulf-stream.org> Subject: RE: Jupiter Inlet Colony Thread-Topic: Jupiter Inlet Colony Thread-Index: AQHVWO1eyhpLUQbDtkCmgDucAkECBA== X-MS-Exchange-MessageSentRepresentingType: 1 Date: Fri, 15 Apr 2011 13:52:34 +0000 Message-ID: <002601cbfb74$5feb10d0$1fc13270$@raymond@mraymondlaw.com> References: <004f01cbfaca$1ee82820$5cb87860$@raymond@mraymondlaw.com> <9BFB8A362F0A451AA27AB6D739C21723@SusanPC> <7B3188C60F6D4849B12B0E623C90F88E@bngengineers.local> <F8647B319CAA4F448CB16BC8CBE0CBDA@SusanPC> <80D90B5B0CB84573BC3A6DE60BA8C4CC@bngengineers.local> <69A44E000FB0489B80E41DAA09ABB0B5@SusanPC> In-Reply-To: <69A44E000FB0489B80E41DAA09ABB0B5@SusanPC> Content-Language: en-US X-MS-Has-Attach: X-MS-TNEF-Correlator: x-mailer: Microsoft Office Outlook 12.0 x-en-origip: 205.178.146.60 Content-Type: multipart/alternative; boundary="_000_002601cbfb745feb10d01fc13270raymondmraymondlawcom_" MIME-Version: 1.0 mark raymond SMTP mark.raymond@mraymondlaw.com 'Skip Randolph'; Bill Thrasher 'Susan Schoettle-Gumm'; 'Danny Brannon' Mark Raymond Jupiter Inlet Colony The rough concept plans Danny refers to will suffice. I hope that the project cost estimate is reliable, because once the assessment roll is adopted the maximum amount of the assessment, and debt capacity, will be established. As for the “assessment plat,” the assessment roll from wildan, with PCNs included, will suffice. If there is a draft of the wildan report, please forward it to me. 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: Susan Schoettle-Gumm [mailto:spgumm@mailmt.com] Sent: Thursday, April 14, 2011 7:15 PM To: 'Danny Brannon' Cc: 'Skip Randolph'; 'Bill Thrasher'; 'mark raymond' Subject: RE: Jupiter Inlet Colony Danny - Thank you for the additional info. We will need to explore this some more before making a final decision on the path for the assessments. Thanks again, Susan Susan Schoettle, 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: Danny Brannon [mailto:dbrannon@bngengineers.com] Sent: Thursday, April 14, 2011 6:04 PM To: 'Susan Schoettle-Gumm' Cc: 'Skip Randolph'; 'Bill Thrasher'; 'mark raymond' Subject: RE: Jupiter Inlet Colony Concerning Jupiter Inlet Colony, Plans were created well in advance of the assessment process by FPL, and followed up by our revised plans for the installation in accordance with the a modified version of the FPL plans. I am not aware of which plans were included in the assessment documents. Probably both ours and FPL’s. Detailed Comcast and AT&T plans are not yet created. In most projects, construction plans are made after the vote and money has been made available. JIC did not go that path. I am not sure as to the degree of specificity required for such “ plans and specifications” as referred to in the statute, so it is hard to render an opinion as to when plans conforming to this legal requirement would be available. We have developed rough concept plans to assist in developing an opinion of the project costs which could be enhanced. To develop detailed specifications, we will need surveyors to survey the area before we can begin. In addition, we plan to work the project in two phases and plan to survey the second phase after we are into construction on the first phase. Detailed plans are generated after the survey data comes in. If the requirement is to simply communicate the intended routes, utilities involved, method of construction, utility equipment to be installed, etc., a concept plan could be created in the form of a route drawing and an accompanying document with such descriptions. As far as a plat map, I am not aware of the existence of one other that the zoning map which is somewhat difficult to read. In the absence of a clear plat map drawing, a basic map (property lines and roadways) would have to be created. We can develop plans once we understand the required level of specificity to satisfy the statute. 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 5:03 PM To: 'Danny Brannon' Cc: 'Skip Randolph'; 'Bill Thrasher' Subject: RE: Jupiter Inlet Colony Danny - Thanks for that information. I still need from you an opinion on when the Chapter 170 required "plans and specifications" would be available for the Town of Gulf Stream project. I have copied the relevant statutory section below for your reference. I believe that the assessment plat could be generated relatively easily using existing maps and the assessment roll being developed by Willdan. But the availability of or development of "plans and specifications" would seem to be a question for you as Project Manager/Engineer. Under the current schedule, I was to submit an ordinance for 1st reading on April 28th with the agenda packet submittal on April 21st. So, waiting until Tuesday or Wed. to talk w/ the Jupiter Inlet Colony Clerk really won't help us. Is there any additional information you might have on when "plans and specifications" could be available for Gulf Stream? We need to have some idea about this in order to evaluate the impact on the assessment adoption schedule and timing for obtaining financing. Please feel free to give me a call to discuss (ofice 941-377-4948 or cell 941-320-3054). F.S. Sec. 170.04Plans and specifications, with estimated cost of proposed improvement required before adoption of resolution.—At the time of the adoption of the resolution provided for in s.170.03<http://www.leg.state.fl.us/STATUTES/index.cfm?App_mode=Display_Statute&Search_String=&URL=0100-0199/0170/Sections/0170.03.html>, there shall be on file with the town or city clerk, or like officer, of the municipality adopting said resolution, an assessment plat showing the area to be assessed, with plans and specifications, and an estimate of the cost of the proposed improvement, which assessment plat, plans and specifications and estimate shall be open to the inspection of the public. Thanks, Susan Susan Schoettle, 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: 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. 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 ________________________________ 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 ________________________________ 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 1DD9320A5EFBE84784DD50677C363C63@namprd09.prod.outlook.com <002601cbfb74$5feb10d0$1fc13270$@raymond@mraymondlaw.com> <004f01cbfaca$1ee82820$5cb87860$@raymond@mraymondlaw.com> <9BFB8A362F0A451AA27AB6D739C21723@SusanPC> <7B3188C60F6D4849B12B0E623C90F88E@bngengineers.local> <F8647B319CAA4F448CB16BC8CBE0CBDA@SusanPC> <80D90B5B0CB84573BC3A6DE60BA8C4CC@bngengineers.local> <69A44E000FB0489B80E41DAA09ABB0B5@SusanPC> <69A44E000FB0489B80E41DAA09ABB0B5@SusanPC> 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=514b1aca-c306-40b6-a680-3b9c02410204;IDXHEAD=01D558ED5E;IDXCOUNT=1];SBMID=6;SBT=2;THA=1322078734;TFR=NotForking;Version=Version 15.20 (Build 2157.0), Stage=H7;UP=10;DP=1C5 en 525D832042FC4FE4 RBasel@gulf-stream.org 00000002/o=ExchangeLabs/ou=Exchange Administrative Group (FYDIBOHF23SPDLT)/cn=Recipients/cn=3baa9f04d837426b9ed16b03ec111b7b-rbasel 'Susan Schoettle-Gumm' SMTP spgumm@mailmt.com spgumm@mailmt.com 'Susan Schoettle-Gumm' 'Danny Brannon' SMTP dbrannon@bngengineers.com dbrannon@bngengineers.com 'Danny Brannon' 'Skip Randolph' SMTP jrandolph@jones-foster.com jrandolph@jones-foster.com 'Skip Randolph' Bill Thrasher SMTP bthrasher@gulf-stream.org bthrasher@gulf-stream.org Bill Thrasher [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 The rough concept plans Danny refers to will suffice. I hope that the project cost estimate is reliable, because once the assessment roll is adopted the maximum amount of the assessment, and debt capacity, will be established. As for the “assessment plat,” the assessment roll from wildan, with PCNs included, will suffice. If there is a draft of the wildan report, please forward it to me. 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: Susan Schoettle-Gumm [mailto:spgumm@mailmt.com] Sent: Thursday, April 14, 2011 7:15 PM To: 'Danny Brannon' Cc: 'Skip Randolph'; 'Bill Thrasher'; 'mark raymond' Subject: RE: Jupiter Inlet Colony Danny - Thank you for the additional info. We will need to explore this some more before making a final decision on the path for the assessments. Thanks again, Susan Susan Schoettle, 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: Danny Brannon [mailto:dbrannon@bngengineers.com] Sent: Thursday, April 14, 2011 6:04 PM To: 'Susan Schoettle-Gumm' Cc: 'Skip Randolph'; 'Bill Thrasher'; 'mark raymond' Subject: RE: Jupiter Inlet Colony Concerning Jupiter Inlet Colony, Plans were created well in advance of the assessment process by FPL, and followed up by our revised plans for the installation in accordance with the a modified version of the FPL plans. I am not aware of which plans were included in the assessment documents. Probably both ours and FPL’s. Detailed Comcast and AT&T plans are not yet created. In most projects, construction plans are made after the vote and money has been made available. JIC did not go that path. I am not sure as to the degree of specificity required for such “ plans and specifications” as referred to in the statute, so it is hard to render an opinion as to when plans conforming to this legal requirement would be available. We have developed rough concept plans to assist in developing an opinion of the project costs which could be enhanced. To develop detailed specifications, we will need surveyors to survey the area before we can begin. In addition, we plan to work the project in two phases and plan to survey the second phase after we are into construction on the first phase. Detailed plans are generated after the survey data comes in. If the requirement is to simply communicate the intended routes, utilities involved, method of construction, utility equipment to be installed, etc., a concept plan could be created in the form of a route drawing and an accompanying document with such descriptions. As far as a plat map, I am not aware of the existence of one other that the zoning map which is somewhat difficult to read. In the absence of a clear plat map drawing, a basic map (property lines and roadways) would have to be created. We can develop plans once we understand the required level of specificity to satisfy the statute. [if gte vml 1]><v:shapetype id="_x0000_t75" coordsize="21600,21600" o:spt="75" o:preferrelative="t" path="m@4@5l@4@11@9@11@9@5xe" filled="f" stroked="f"> <v:stroke joinstyle="miter" /> <v:formulas> <v:f eqn="if lineDrawn pixelLineWidth 0" /> <v:f eqn="sum @0 1 0" /> <v:f eqn="sum 0 0 @1" /> <v:f eqn="prod @2 1 2" /> <v:f eqn="prod @3 21600 pixelWidth" /> <v:f eqn="prod @3 21600 pixelHeight" /> <v:f eqn="sum @0 0 1" /> <v:f eqn="prod @6 1 2" /> <v:f eqn="prod @7 21600 pixelWidth" /> <v:f eqn="sum @8 21600 0" /> <v:f eqn="prod @7 21600 pixelHeight" /> <v:f eqn="sum @10 21600 0" /> </v:formulas> <v:path o:extrusionok="f" gradientshapeok="t" o:connecttype="rect" /> <o:lock v:ext="edit" aspectratio="t" /> </v:shapetype><v:shape id="_x0000_s1027" type="#_x0000_t75" style='position:absolute; margin-left:1pt;margin-top:9pt;width:45.15pt;height:75pt;z-index:251658240' o:allowoverlap="f" stroked="t" strokecolor="navy" strokeweight="1pt"> <v:imagedata src="bng1" /> <w:wrap type="square"/> </v:shape><![endif]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: http://www.bngengineers.com/www.BnGEngineers.com From: Susan Schoettle-Gumm [mailto:spgumm@mailmt.com] Sent: Thursday, April 14, 2011 5:03 PM To: 'Danny Brannon' Cc: 'Skip Randolph'; 'Bill Thrasher' Subject: RE: Jupiter Inlet Colony Danny - Thanks for that information. I still need from you an opinion on when the Chapter 170 required "plans and specifications" would be available for the Town of Gulf Stream project. I have copied the relevant statutory section below for your reference. I believe that the assessment plat could be generated relatively easily using existing maps and the assessment roll being developed by Willdan. But the availability of or development of "plans and specifications" would seem to be a question for you as Project Manager/Engineer. Under the current schedule, I was to submit an ordinance for 1st reading on April 28th with the agenda packet submittal on April 21st. So, waiting until Tuesday or Wed. to talk w/ the Jupiter Inlet Colony Clerk really won't help us. Is there any additional information you might have on when "plans and specifications" could be available for Gulf Stream? We need to have some idea about this in order to evaluate the impact on the assessment adoption schedule and timing for obtaining financing. Please feel free to give me a call to discuss (ofice 941-377-4948 or cell 941-320-3054). F.S. Sec. 170.04Plans and specifications, with estimated cost of proposed improvement required before adoption of resolution.—At the time of the adoption of the resolution provided for in s. http://www.leg.state.fl.us/STATUTES/index.cfm?App_mode=Display_Statute&Search_String=&URL=0100-0199/0170/Sections/0170.03.html170.03, there shall be on file with the town or city clerk, or like officer, of the municipality adopting said resolution, an assessment plat showing the area to be assessed, with plans and specifications, and an estimate of the cost of the proposed improvement, which assessment plat, plans and specifications and estimate shall be open to the inspection of the public. Thanks, Susan Susan Schoettle, 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: 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. [if gte vml 1]><v:shape id="_x0000_s1026" type="#_x0000_t75" style='position:absolute;margin-left:1pt;margin-top:9pt;width:45.15pt; height:75pt;z-index:251657216' o:allowoverlap="f" stroked="t" strokecolor="navy" strokeweight="1pt"> <v:imagedata src="bng1" /> <w:wrap type="square"/> </v:shape><![endif]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: 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 No virus found in this message. 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