HomeMy Public PortalAboutRE_ Gulf Stream Undergrounding Loan
Renee Basel
From:mark raymond <mark.raymond@mraymondlaw.com>
Sent:Wednesday, August 29, 2012 11:01 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
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
1
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 \[mailto:mark.raymond@mraymondlaw.com\]
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:
2
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.
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
3
-----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.
-----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
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