HomeMy WebLinkAboutResolutions - 1985.09.26 - 11245WHEREAS, on September 26 1985, this Board of
3149E
MISCELLANEOUS RESOLUTION NO. 85279
RE: ECONOMIC DEVELOPMENT GROUP
RESOLUTION APPROVING PROJECT PLAN
(JAMESTOWNE PROPERTIES PROJECT)
BY: PUBLIC SERVICES COMMITTEE, JAMES EDWARD LANNI, CHAIRMAN
TO: THE OAKLAND COUNTY BOARD OF COMMISSIONERS
Mr. Chairman, Ladies and Gentlemen:
WHEREAS, The Economic Development Corporation of the
County of Oakland (the "EDC") has recommended that this Board of
Commissioners approve the Project Plan required by the Economic
Development Corporations Act, Act No. 338 of the Michigan Public
Acts of 1974, as amended (the "Act") for the Jamestowne
Properties Project, a copy of which Project Plan is attached
hereto as Exhibit A (the "Project Plan"); and
WHEREAS, the EDC's recommendation to this Board of
Commissioners was based upon its determinations that the Project
is reasonable and necessary to effectuate the purposes of the
Act, that the Project Plan prepared in connection with the
Project satisfies all of the requirements of Section 8 of the Act
regarding project plans, that the persons who will be active in
the management of the project for at least one (l) year after the
projected date of the County Board of Commissioner's approval of
the Project Plan will have sufficient ability and experience to
manage the Plan properly, and that the proposed method of
financing the Project is feasible and a bond purchaser's
commitment has been obtained; and
WHEREAS, on August 26 , 1985, the governing body of
the Village of Bingham Farms, Oakland County, Michigan, also
approved the Project Plan; and
Commissioners held a public hearing to consider whether the
HEMYAPPROVET FOREGOING RESOLUTION
Daarel I". Murk1.3y, :ouqty E
NAYS: Members:
ABSENT: Members:
ABSTENTIONS: Members:
None. (01
istaae
None (0)
Project Plan constitutes a public purpose as contemplated by the
Act: and
WHEREAS, this Board of Commissioners, following such
public hearing and its review of the Project Plan, concurs in the
determinations of the EDC with respect thereto;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF
COMMISSIONERS OF THE COUNTY OF OAKLAND, as follows:
I. The Project Plan, in the form attached hereto as
Exhibit A, be and is hereby determined to constitute a public
purpose as contemplated by the Act.
2. The Project Plan be and is hereby approved.
3. The EDC be and is hereby authorized to take such
steps as are necessary to implement the Project and the financing
thereof by the issuance of revenue bonds or notes.
4. The County Clerk be and is hereby directed to
provide four certified copies of this resolution to the Assistant
Secretary of the Board of the EDC.
The Public Services Committee, by James Edward Lanni,
Chairman, moves for adoption of the foregoing resolution.
PUBLIC SERVICES COMMITTEE
YEAS: Members: Aaron, Caddell, Calandro, Doyon, Fortino, Gosling, Hassberge
Hobart, R. Kuhn, S. Kuhn, Lanni, Law, McConnell, McDonald, McPherson, Moffitt, Moore, Nelson
Olsen, Page, Perinoff, Pernick, Price, Rewold, Skarritt, Webb, Wilcox, (27)
(0)
- 2 -
RESOLUTION DECLARED ADOPTED:
len
Countly Clerk
Allen
CouAty Clerk
STATE OF MICHIGAN)
) SS.
COUNTY OF OAKLAND)
I hereby certify that the foregoing is a true and
complete copy of a resolution adopted at a regular meeting of the
Board of Commissioners of the County of Oakland, Michigan held on
the 26th day of September , 1985, the original of which is on
file in my office. Public notice of said meeting was given
pursuant to and in compliance with Act No. 267 of the Michigan
Public Acts of 1976, as amended.
Dated: September 26 , 1985
3
Exhibit A
THE ECONOMIC DEVELOPMENT CORPORATION
OF THE COUNTY OF OAKLAND
Oakland County, Michigan -
JAMES TOWNE PROPERTIES Project
(Li;.,ILTE
PROJECT PLAN
CONTENTS
1. Summary Description of Project (Page 2)
2. Project Plan Certification by Company (Page 3)
3, Statutorily Required Information (Page 4)
4. Exhibits
"A" - Project Area Legal Description
"B" - Bond Purchaser's Commitment Letter
"C" - Company Certificate Regarding "Prevailing Wages"
- Company Certificate Regarding Transfer of
Employment
Other
M-315E
2
PROJECT PLAN
SUMMARY DESCRIPTION OF
JAMESTOWNE PROPERTIES PROJECT
OWNER OF PROJECT: JAMESTOWNE PROPERTIES LIMITED PARTNERSHIP
A Michigan Limited Partnership
CONTACT PERSON: (Name, address, telephone number)
Richard A. Roeser, 29830 Telegraph Rd., Southfield, MI 48034
Phone: (313) 352 -3950
LOCATION OF PROJECT: (Local municipality)
Bingham Farms, Michigan
PROJECT AREA/DISTRICT AREA: See Exhibit A
NATURE OF PROJECT:
Commercial Office Building
EMPLOYMENT CREATED OR RETAINED:
Estimated 125 permanent
TOTAL PROJECT COST: $5,800,000.00
BONDS TO BE ISSUED: $4,600,000
BOND PURCHASER: First of America Bank-Oakland/Macomb, N.A.
DATE AND EXPIRATION DATE OF BOND PURCHASE COMMITMENT:
Dated August 2, 1985
No expiration date
PROJECT PLAN CERTIFICATION
THIS PROJECT PLAN WAS PREPARED FOR THE
ECONOMIC DEVELOPMENT CORPORATION OF THE COUNTY
OF OAKLAND IN ACCORDANCE WITH THE REQUIREMENTS
OF THE ECONOMIC DEVELOPMENT CORPORATIONS ACT,
ACT NO. 338 OF THE MICHIGAN PUBLIC ACTS OF
1974, AS AMENDED.
THE UNDERSIGNED HAS PROVIDED ALL OF THE
INFORMATION CONTAINED HEREIN AND HEREBY
CERTIFIES AS TO THE ACCURACY AND VALIDITY OF
SUCH INFORMATION AS OF THIS DATE.
THE UNDERSIGNED UNDERSTANDS THAT THIS PROJECT
PLAN IS STATUTORILY REQUIRED AND, IF IT
CONTAINS ANY MATERIAL MISREPRESENTATION OR
INACCURACY, COULD RESULT IN THE INVALIDATION
OF THE ECONOMIC DEVELOPMENT CORPORATION
PROCEEDINGS REGARDING THE PROJECT TO WHICH THE
PROJECT PLAN PERTAINS.
jAMESTOWNE PRIES LIMITED PARTNERSHIP
A Michigarl/Limi;eed Partnership
Richard A. Roeser
Its: Partner
Dated: July 1, 1985
By:
- 3 -
Structures $4,276,480
PROJECT PLAN
STATUTORILY REQUIRED INFORMATION REGARDING
PROJECT
I. THE LOCATION AND EXTENT OF EXISTING STREETS AND
OTHER PUBLIC FACILITIES WITHIN THE PROJECT DISTRICT AREA: THE
LOCATION, CHARACTER, AND EXTENT OF THE CATEGORIES OF PUBLIC AND
PRIVATE LAND USES NOW EXISTING AND PROPOSED FOR THE PROJECT AREA,
INCLUDING RESIDENTIAL, RECREATIONAL, COMMERCIAL, INDUSTRIAL,
EDUCATIONAL, AND OTHER USES; AND A LEGAL DESCRIPTION OF THE
PROJECT AREA:
The land is presently vacant. The project contemplates
the construction of two buildings consisting of a total
of 65,792 square feet to be used for commercial office
purpose with no portion devoted to public purpose.
Legal description of Project Area attached as Exhibit A.
II. A DESCRIPTION OF EXISTING IMPROVEMENTS IN THE
PROJECT AREA TO BE DEMOLISHED, REPAIRED, OR ALTERED; A
DESCRIPTION OF REPAIRS AND ALTERATIONS; AND AN ESTIMATE OF THE
TIME REQUIRED FOR COMPLETION:
Not Applicable
III. THE LOCATION, EXTENT, CHARACTER. AND ESTIMATED
COST OF THE IMPROVEMENTS, INCLUDING REHABILITATION CONTEMPLATED
FOR THE PROJECT AREA, AND AN ESTIMATE OF THE TIME REQUIRED FOR
COMPLETION:
See I Above and Iv below.
Estimates: Site development
(Utilities, grading, paving, landscaping)
$509,888
- 4 -
IV. A DESCRIPTION OF THE CONSTRUCTION OR STAGES OF
CONSTRUCTION PLANNED, AND THE ESTIMATED TIME OF COMPLETION OF
EACH STAGE:
Underground Site Work _ August , 0 > 1985
Foundations . - September, 1985
Shell Construction - February, 1936
T.L.I. - November, 1986
Landscaping - June, 1986
V. A DESCRIPTION OF THE PARTS OF THE PROJECT AREA TO BE
LEFT AS OPEN SPACE AND THE USE CONTEMPLATED FOR THE SPACE:
The entire area consists of approximately 194,472 Square Feet
of which 73,487 Square Feet will consist of green area.
VI. A DESCRIPTION OF PORTIONS OF THE PROJECT AREA WHICH
THE ECONOMIC DEVELOPMENT CORPORATION OR THE COMPANY DESIRES TO
SELL, DONATE, EXCHANGE OR LEASE TO OR FROM THE MUNICIPALITY AND
THE PROPOSED TERMS:
Not applicable.
VII. A DESCRIPTION OF DESIRED ZONING CHANGES AND
CHANGES IN STREET, STREET LEVELS, INTERSECTIONS AND UTILITIES:
No zoning changes are required
VIII. A DESCRIPTION OF THE PROPOSED METHOD OF FINANCING
THE PROJECT, INCLUDING ATTACHMENT OF A COPY OF THE BOND
PURCHASER'S COMMITMENT LETTER:
Direct purchase of bond by First of America Bank -Oakland/
Macomb, N.A.
Copy of bond purchaser's commitment letter attached as
Exhibit B.
IX. A STATEMENT REGARDING THE PAYMENT OF PREVAILING
WAGE AND FRINGE BENEFIT RATES AS DETERMINED PURSUANT TO ACT NO.
166 OF THE MICHIGAN PUBLIC ACTS OF 1965, AS AMENDED (REGARDING
WAGES ON STATE CONTRACTS):
See Exhibit C.
-6--
X. A LIST OF PERSONS WHO WILL MANAGE OR BE ASSOCIATED
WITH THE MANAGEMENT OF THE PROJECT FOR A PERIOD OF NOT LESS THAN
1 (ONE) YEAR FROM THE DATE OF APPROVAL OF THE PROJECT PLAN:
Richard A. Roeser - Partner
James C. Beachum Partner
XI. DESIGNATION OF THE PERSON OR PERSONS, NATURAL OR
CORPORATE, TO WHOM THE PROJECT IS TO BE LEASED, SOLD OR CONVEYED
AND FOR WHOSE BENEFIT THE PROJECT IS BEING UNDERTAKEN, TO THE
EXTENT THAT INFORMATION IS PRESENTLY AVAILABLE:
100% of leaseable space of project will be leased to
tenants. No firm lease cominittments exist at time of this
application.
XII. IF THERE IS NOT AN EXPRESS OR IMPLIED AGREEMENT
WITH A PERSON OR PERSONS, NATURAL OR CORPORATE, THAT THE PROJECT
WILL BE LEASED, SOLD, OR CONVEYED TO THOSE PERSONS, THE
PROCEDURES FOR BIDDING FOR THE LEASING, PURCHASING OR CONVEYING
OF THE PROJECT UPON ITS COMPLETION:
Leasing achieved on normal commercial basis at fair
market rental rates.
XIII. ESTIMATES OF THE NUMBER OF PERSONS RESIDING IN
THE PROJECT AREA AND THE NUMBER. OF FAMILIES AND INDIVIDUALS TO BE
DISPLACED. IF OCCUPIED RESIDENCES ARE DESIGNATED FOR ACQUISITION
AND CLEARANCE, INCLUDE A SURVEY OF THE FAMILIES AND INDIVIDUALS
TO BE DISPLACED, INCLUDING THEIR INCOME AND RACIAL COMPOSITION, A
STATISTICAL DESCRIPTION OF THE HOUSING SUPPLY IN THE COMMUNITY,
INCLUDING THE NUMBER OF PRIVATE AND PUBLIC UNITS IN EXISTENCE OR
UNDER CONSTRUCTION, THE CONDITION OF THOSE IN EXISTENCE, THE
NUMBER OF OWNER-OCCUPIED AND RENTER-OCCUPIED UNITS, THE ANNUAL
RATE OF TURNOVER OF THE VARIOUS TYPES OF HOUSING AND THE RANGE OF
RENTS AND SALE PRICES, AN ESTIMATE OF THE TOTAL DEMAND FOR
- 7 -
HOUSING IN THE COMMUNITY, AND THE ESTIMATED CAPACITY OF PRIVATE
AND PUBLIC HOUSING AVAILABLE TO DISPLACED FAMILIES AND
INDIVIDUALS:
Not applicable. No people presently reside in the
Project Area, no families or individuals will be displaced by the
Project, and no residences are located in the Project Area.
XIV. A PLAN FOR ESTABLISHING PRIORITY FOR THE
RELOCATION OF PERSONS DISPLACED BY THE PROJECT IN NEW HOUSING IN
THE PROJECT AREA:
Not applicable.
XV. PROVISION FOR THE COSTS OF RELOCATING PERSONS
DISPLACED BY THE PROJECT AND FINANCIAL ASSISTANCE AND
REIMBURSEMENT OF EXPENSES, INCLUDING LITIGATION EXPENSES AND
EXPENSES INCIDENT TO THE TRANSFER OF TITLE, IN ACCORDANCE WITH
THE STANDARDS AND PROVISIONS OF THE FEDERAL UNIFORM RELOCATION
ASSISTANCE AND REAL PROPERTY ACQUISITION POLICIES ACT OF 1970, 42
U.S.C. 4601 TO 4655:
Not applicable.
—8-.
XVI. A PLAN FOR COMPLIANCE WITH ACT NO. 227 OF THE
MICHIGAN PUBLIC ACTS OF 1972, WHICH PERTAINS TO PROVIDING
FINANCIAL ASSISTANCE, ADVISORY SERVICES AND REIMBURSEMENT OF
CERTAIN EXPENSES TO DISPLACED PERSONS:
Not applicable.
XVII. OTHER MATERIAL AS THE ECONOMIC DEVELOPMENT
CORPORATION, LOCAL PUBLIC AGENCY, OR GOVERNING BODY CONSIDERS
PERTINENT:
Not applicable.
I A
ex ,41;
Part of Lots 1 and 6 of "Supervisor's Plat No. 20" (Liber 54, Page 49, Oakland
County Records) Being a part of the Southeast 34 of Section 5, Town 1 North,
Range 10 East, Village of Bingham Farms, Oakland County, Michigan, being
more particularly described as follows: Beginning at the Southeast corner
of said Lot 1; thence South 89 degrees 36 minutes 53 seconds West 429.52
feet along the South line of Lots 1 and 6; thence North 00 degrees 01 minutes
20 seconds West 592.17 feet along the East line of Telegraph Road as now
established; thence South 85 degrees 14 minutes 44 seconds East 79.22 feet;
thence South 89 degrees 46 minutes 41 seconds East 148.24 feet; thence South
19 degrees 06 minutes 37 seconds East 613.74 feet along the common boundary
of LOt 1 and Lot 5 to the point of beginning.
August 2, 1985 FRST°F
AMEJC
First of America Bank-
Oakland Macomb, N.A.
P.O. Box 330
Pontac. Wchican 48055
Telephone 213-857-55C0
Mr. Richard Roeser
Beachum & Roeser Development Corporation
29830 Telegraph Rd.
Southfield, MI 48010
Dear Mr. Roeser:
This letter is to serve as confirmation of First of America
Bank—Oakland Macomb's interest in pursuing a $4,600,000 Industrial
Revenue Bond mortgage loan request.
The purpose of the loan is to provide construction and permanent
financing for the development of a 65,792 sq ft. office building to be
constructed at the northeast corner of Thirteen Mile Road and Telegraph
Road, Bingham Farms, MI.
I am in receipt of sufficient information which will permit the Bank to
more carefully review your request. Our review will concentrate upon
the aforementioned dollar amount at an interest rate of 65% of the
Bank's prime rate, with a 20 year maturity and a 25 year amortization.
Of course, this letter is not to be construed as a commitment letter
and the interest rate and terms are subject to First of America
Bank—Oakland Macomb required levels of approval.
I look forward to working with you on this project. If I can be of
additional assistance, please feel free to call me at 857-5547.
Sincerely,
PhiliP-B. Beaudette
Assistant Vice President
PBB:pms
cc: Robert L. Schwartz, Escui-
2790E
Exhibit C
COMPANY CERTIFICATE REGARDING
PAYMENT CF PREVAILING WAGES
(Jamestowne Properties Project)
The undersigned, Jamestowne Properties Limited
Partnership (the "Company"), hereby certifies to The Economic
Development Corporation of the County of Oakland (the "EDC") as
follows:
1. This Certificate is made and based upon the best of
the Company's knowledge and belief, only after thorough
investigation and discussion with all owners of the Company and
others who might have knowledge regarding the subject matter.
2. The Company understands that this Certificate is a
statutory requirement under the Economic Development Corporations
Act. Act No. 338 of the Michigan Public Acts of 1974, as amended
(the "Act") which, it improperly made or based upon any material
misrepresentation or inaccuracy, might invalidate the proceedings
regarding the Jamestowne Properties Project (the "Project")
pursuant to which the EDC expects ultimately to issue its limited
obligation economic development revenue bonds to finance all or
part of the Project.
3. Within the meaning and intent of Section 8(4)(h) of
the Act, all persons performing work on the construction of the
Project will be paid the prevailing wage and fringe benefit rates
for the same or similar work in the locality in which the work is
to be performed, as determined pursuant to Act No. 166 of the
Michigan Public Acts of 1965. as amended. _
JAMESTCANE,PROPERTIES LIMITED PARTNERSHIP
a Michigri Limited Partnership
By: N
Richard A. Roeser
Parther
Dated
Exhibit
COMPANY CERTIFICATE REGARDING
TRANSFER OF EMPLOYMENT
(Jamestowne Properties Project)
The undersigned. Jamestowne Properties Limited
Partnership (the "Company"), hereby certifies to The Economic
Development Corporation of the County of Oakland (the "EDC") as
follows:
1. This Certificate is made and based upon the best of
the Company's knowledge and belief, only after thorough
investigation and discussion with all owners of the Company and
others who might have knowledge regarding the subject matter.
2. The Company acknowledges that this Certificate will
be employed by the EDC as the sole basis for the EDC's
certification to the Board of Commissioners of the County of
Oakland as to transfer of employment as required by Section 8(3)
of the Economic Development Corporations Act, Act No. 338 of the
4ichigan Public Acts of 1974, as amended. (the ‘Act").
3. The Company understands that the EDC's Certification
to the Board of Commissioners of the County of Oakland is a
statutory requirement which, if improperly made or based upon any
material misrepresentation or inaccuracy, might invalidate the
proceedings regarding the Jamestowne Properties Project (the
*Project") pursuant to which the EDC expects ultimately to issue
it$ limited obligation economic development revenue bonds to
finance all or part of the Project.
4. As of the date hereof, the Project shall not have
the effect of transferring employment of more than 20 full-time
persons from a municipality (as that term is defined in the Act)
of this state to the Village of Bingham Farms, Michigan, the
municipality in which the Project will be located.
5. The Company agrees that during the life of the bonds
proposed to be issued by the EDC to finance the costs of the
Project for the Company, the Company will not permit a lease or
sublease in connection with the Project which would have the
effect of transferring, as to such lease, sublease or group of
leases or subleases which are interrelated (i.e. "interrelated*
means leases negotiated as part of one set of negotiations or
leases with lessees who are related by more than 50% common
ownership), employment of more than 20 full-time persons from a
municipality of this State to the Village of Bingham Farms,
!iichigan unless the Company or such lessee or sublessee has first
tt
A
\
Dated:
obtained a consent to the proposed transfer of employment from
the governing body of each municipality from which employment is
to be transferred.
6. The Company understands that a covenant to
effectuate the purposes of this Certificate will be included in
those covenants to be made by the Company when bonds are issued
by the EDC for the benefit of the Project.
JAMESTOWNE P.R.O'PZRITES LIMITED PARTNERSHIP
A Mich*n Limited Partnership
By:
Rfc_hard A. Roeser
Its: Partner
Exhibit A
THE ECONOMIC DEVELOPMENT CORPORATION
OF THE COUNTY OF OAKLAND
Oakland County, Michigan ,
JA=OWNE PROPERTIES Project
NE KSH I e
PROJECT PLAN
CONTENTS
1, Summary Description of Project (Page 2)
2. Project Plan Certification by Company (Page 3)
3. Statutorily Required Information (Page 4)
4. Exhibits
- Project Area Legal Description
Bond Purchaser's Commitment Letter
"C" - Company Certificate Regarding "Prevailing Wages"
Company Certificate Regarding Transfer of
Employment
Other
PROJECT PLAN
SUMMARY DESCRIPTION OF
JAMESTOWNE .PROPERTIES_ PROJECT
OWNER OF PROJECT: JAMESTOWNE PROPERTIES LIMITED PARTNERSHIP
A Michigan Limited Partnership
CONTACT PERSON: (Name, address, telephone number)
Richard A. Roeser, 29830 Telegraph Rd., Southfield, MT 48034
Phone: (313) 352-3950
LOCATION OF PROJECT: (Local municipality)
Bingham Farms, Michigan
PROJECT AREA/DISTRICT AREA: See Exhibit A
NATURE OF PROJECT:
Commercial Office Building
EMPLOYMENT CREATED OR RETAINED:
Estimated 125 permanent
TOTAL PROJECT COST: $5,800,000,00
BONDS TO BE ISSUED: $4,600,000
BOND PURCHASER: First of America Bank -Oak/and/Macomb, N.A.
DATE AND EXPIRATION DATE OF BOND PURCHASE COMMITMENT:
Dated August 2, 1985
No expiration date
- 2 -
PROJECT PLAN CERTIFICATION
THIS PROJECT PLAN . WAS PREPARED FOR THE
ECONOMIC DEVELOPMENT CORPORATION OF THE COUNTY
OF OAKLAND IN ACCORDANCE WITH THE REQUIREMENTS
OF THE ECONOMIC DEVELOPMENT CORPORATIONS ACT,
ACT NO. 338 OF THE MICHIGAN PUBLIC ACTS OF
1974 AS AMENDED,
THE UNDERSIGNED HAS PROVIDED ALL OF THE
INFORMATION CONTAINED HEREIN AND HEREBY
CERTIFIES AS TO THE ACCURACY AND VALIDITY OF
SUCH INFORMATION AS OF THIS DATE,
THE UNDERSIGNED UNDERSTANDS THAT THIS PROJECT
PLAN IS STATUTORILY REQUIRED AND, IF IT
CONTAINS ANY MATERIAL MISREPRESENTATION OR
INACCURACY, COULD RESULT IN THE INVALIDATION
OF THE ECONOMIC DEVELOPMENT CORPORATION
PROCEEDINGS REGARDING THE PROJECT TO WHICH THE
PROJECT PLAN PERTAINS.
JAMESTOWNE PRCTf-EIES LIMITED PARTNERSHIP
A MichigaVLimi76d Partnership
By:
Rich-ard A. Roeser
Its: Partner
Dated: July 1, 1985
PROJECT PLAN
STATUTORILY REQUIRED INFORMATION REGARDING
PROJECT
I. THE LOCATION AND EXTENT OF EXISTING STREETS AND
OTHER PUBLIC FACILITIES WITHIN THE PROJECT DISTRICT AREA; THE
LOCATION, CHARACTER, AND EXTENT OF THE CATEGORIES OF PUBLIC AND
PRIVATE LAND USES NOW EXISTING AND PROPOSED FOR THE PROJECT AREA,
INCLUDING RESIDENTIAL, RECREATIONAL, COMMERCIAL, INDUSTRIAL,
EDUCATIONAL, AND OTHER USES; AND A LEGAL DESCRIPTION OF THE
PROJECT AREA:
The land is presently vacant. The project contemplates
the construction of two buildings consisting of a total
of 65,792 square feet to be used for commercial office
purpose with no portion devoted to public purpose.
Legal description of Project Area attached as Exhibit A.
II. A DESCRIPTION OF EXISTING IMPROVEMENTS IN THE
PROJECT AREA TO BE DEMOLISHED, REPAIRED, OR ALTERED; A
DESCRIPTION OF REPAIRS AND ALTERATIONS; AND AN ESTIMATE OF THE
TIME REQUIRED FOR COMPLETION:
Not Applicable
III. THE LOCATION. EXTENT, CHARACTER, AND ESTIMATED
COST OF THE IMPROVEMENTS, INCLUDING REHABILITATION CONTEMPLATED
FOR THE PROJECT AREA, AND AN ESTIMATE OF THE TIME REQUIRED FOR
COMPLETION:
See I Above and IV below..
Estimates.: Site development
(Utilities, grading, paving, landscaping)
$509,883
Structures $4,276,430
IV. A DESCRIPTION OF THE CONSTRUCTION OR STAGES OF
CONSTRUCTION PLANNED, AND THE ESTIMATED TIME OF COMPLETION OF
EACH STAGE:
Underground Site Work - August, 1985
Foundations - September, 1985
Shell Construction February, 1986 . -
T.L.I.November, 1986 -
Landscaping - June, 1986
V. A DESCRIPTION OF THE PARTS OF THE PROJECT AREA TO BE
LEFT AS OPEN SPACE AND THE USE CONTEMPLATED FOR THE SPACE:
The entire area consists of approximately 194,472 Square Feet
of which 73,487 Square Feet will consist of green area.
VI. A DESCRIPTION OF PORTIONS OF THE PROJECT AREA WHICH
THE ECONOMIC DEVELOPMENT CORPORATION OR THE COMPANY DESIRES TO
SELL, DONATE. EXCHANGE OR LEASE TO OR FROM THE MUNICIPALITY AND
THE PROPOSED TERMS:
Not applicable.
- 5 -
VII. A DESCRIPTION OF DESIRED ZONING CHANCES AND
CHANCES IN STREET, STREET LEVELS, INTERSECTIONS AND UTILITIES:
No zoning changes are required
VIII. A DESCRIPTION OF THE PROPOSED METHOD OF FINANCING
THE PROJECT, INCLUDING ATTACHMENT OF A COPY OF THE BOND
PURCHASER'S COMMITMENT LETTER:
Direct purchase of bond by First of America Bank-Oakland/
Macomb, N.A.
Copy of bond purchaser's commitment letter attached as
Exhibit B.
IX, A STATEMENT REGARDING THE PAYMENT OF PREVAILING
WAGE AND FRINGE BENEFIT RATES AS DETERMINED PURSUANT TO ACT NO.
166 OF THE MICHIGAN PUBLIC ACTS OF 1965, AS AMENDED (REGARDING
WAGES ON STATE CONTRACTS):
See Exhibit C.
- 6 -
X. A LIST OF PERSONS WHO WILL MANAGE OR BE ASSOCIATED
WITH THE MANAGEMENT . OF TUE PROJECT FOR A PERIOD OF NOT LESS THAN
1 (ONE) YEAR FROM THE PATE OF APPROVAL OF THE PROJECT PLAN:
Richard A. Roeser - Partner
James C. Beachum Partnel-
XI. DESIGNATION OF THE PERSON OR PERSONS, NATURAL OR
CORPORATE, TO WHOM THE PROJECT IS TO BE LEASED, SOLD OR CONVEYED
AND FOR WHOSE BENEFIT THE PROJECT IS BEING UNDERTAKEN, TO THE
EXTENT THAT INFORMATION IS PRESENTLY AVAILABLE:
100% of leaseable space of project will be leased to
tenants. No firm lease committments exist at time of this
application,
XII. IF THERE IS NOT AN EXPRESS OR IMPLIED AGREEMENT
WITH A PERSON OR PERSONS, NATURAL OR CORPORATE, THAT THE PROJECT
WILL BE LEASED, SOLD, OR CONVEYED TO THOSE PERSONS, THE
PROCEDURES FOR BIDDING FOR THE LEASING, PURCHASING OECCONVEYING
OF THE PROJECT UPON ITS COMPLETION:
Leasing achieved on normal commercial basis at fair
market rental rates.
XIII. ESTIMATES OF THE NUMBER OF PERSONS RESIDING IN
THE PROJECT AREA AND THE NUMBER OF FAMILIES AND INDIVIDUALS TO BE
DISPLACED, IF OCCUPIED RESIDENCES ARE DESIGNATED FOR ACQUISITION
AND CLEARANCE, INCLUDE A SURVEY OF THE FAMILIES AND INDIVIDUALS
TO BE DISPLACED, INCLUDING THEIR INCOME AND RACIAL COMPOSITION, A
STATISTICAL DESCRIPTION OF THE HOUSING SUPPLY IN THE COMMUNITY,
INCLUDING THE NUMBER OF PRIVATE AND PUBLIC UNITS IN EXISTENCE OR
UNDER CONSTRUCTION, THE CONDITION OF THOSE IN EXISTENCE, THE
NUMBER OF OWNER-OCCUPIED AND RENTER-OCCUPIED UNITS, THE ANNUAL
RATE OF TURNOVER OF THE VARIOUS TYPES OF HOUSING AND THE RANGE OF
RENTS AND SALE PRICES, AN ESTIMATE OF THE TOTAL DEMAND FOR
- 7
HOUSING IN THE COMMUNITY, AND THE ESTIMATED CAPACITY OF PRIVATE
AND PUBLIC HOUSING AVAILABLE TO DISPLACED FAMILIES AND
INDIVIDUALS:
Not .applicable. No people presently reside in the
Project Area, no families or individuals will be displaced by the
Project, and no residences are located in the Project Area.
XIV. A PLAN FOR ESTABLISHING PRIORITY FOR TEE
RELOCATION OF PERSONS DISPLACED BY THE PROJECT IN NEW HOUSING IN
THE PROJECT AREA:
Not applicable.
XV. PROVISION FOR THE COSTS OF RELOCATING PERSONS
DISPLACED BY THE PROJECT AND FINANCIAL ASSISTANCE AND
REIMBURSEMENT OF EXPENSES, INCLUDING LITIGATION EXPENSES AND
EXPENSES INCIDENT TO THE TRANSFER OF TITLE, IN ACCORDANCE WITH
THE STANDARDS AND PROVISIONS OF THE FEDERAL UNIFORM RELOCATION
ASSISTANCE AND REAL PROPERTY ACQUISITION POLICIES ACT OF 1970, 42
U.S.C. 4601 TO 4655:
Not applicable.
XVI. A PLAN FOR COMPLIANCE WITH ACT NO, 227 OF THE
MICHIGAN PUBLIC ACTS OF 1972 WHICH PERTAINS TO PROVIDING
FINANCIAL ASSISTANCE, ADVISORY SERVICES AND REIMBURSEMENT OF
CERTAIN EXPENSES TO DISPLACED PERSONS:
Not applicable.
XVII. OTHER MATERIAL AS THE ECONOMIC DEVELOPMENT
CORPORATION. LOCAL PUBLIC AGENCY. OR GOVERNING BODY CONSIDERS
PERTINENT:
Not applicable.
ex A
Part of Lots 1 and 6 of "Supervisor's Plat No. 20" (Liber 54, Page 43, Oakland
County Records) Being a part of the Southeast lc of Section 5, Town 1 North,
Range 10 East, Village of Bingham Farms, Oakland County, Michigan, being
more particularly described as follows: Beginning at the Southeast corner
of said Lot 1; thence South 89 degrees 56 minutes 53 seconds West 429.52
feet along the South line of Lots 1 and 6; thence North 00 degrees 01 minutes
20 seconds West 597.17 feet along the East line of Telegraph Road as now
established; thence South 85 degrees 14 minutes 44 seconds East 79.72 feet;
thence South 89 degrees 46 minutes 41 seconds East 148.24 feet; thence South
19 degrees 06 minutes 37 seconds East 615:74 feet along the common boundary
of LOt 1 and Lot 5 to the point of beginning.
August 2, 1985 FIRST"'
•AMRICA
•&/1 13
First of Amefica Bank
OaklandMacomb, NA,
P.O. Box 330
Pontiac, Mich:gan 48056
Telephone 313-857-5500
Mr. Richard Roeser
Beachum & Roeser Development Corporation
29830 Telegraph Rd.
Southfield, MI 48010
Dear MT. Roeser:
This letter is to serve as confirmation of First of America
Bank-Oakland Macomb's interest in pursuing a $4,600,000 Industrial
Revenue Bond mortgage loan request.
The purpose of the loan is to provide construction and permanent
financing for the development of a 65,792 sq. ft. office building to be
constructed at the northeast corner of Thirteen Mile Road and Telegraph
Road, Bingham Farms, MI.
I am in receipt of sufficient information which will permit the Bank to
more carefully review your request. Our review will concentrate unon
the aforementioned dollar amount at an interest rate of 65% of the
Bank's prime rate, with a 20 year maturity and a 25 year amortization.
Of course, this letter is not to be construed as a commitment letter
and the interest rate and terms are subject to First of America
Bank-Oakland Macomb required levels of approval -
I look forward to working with you on this project. If I can be of
additional assistance, please feel free to call me at 857-5547.
Sincerely,
Philip-B. Beaudette
Assistant Vice President
PBB:pms
cc Robert L. Schwartz, Esquire
1A_
By:
(
Da ted
2790E
Exhibit C
COMPANY CERTIFICATE REGARDING
PAYMENT OF PREVAILING WAGES
(Jamestowne Properties Project)
The undersigned, Jamestowne Properties Limited
Partnership (the "Company"), hereby certifies to The Economic
Development Corporation of the County of Oakland (the "EDC") as
follows:
1. This Certificate is made and based upon the best of
the Company's knowledge and belief, only after thorough
investigation and discussion with all owners of the Company and
others who might have knowledge regarding the subject matter.
2. The Company understands that this Certificate is a
statutory requirement under the Economic Development Corporations
Act, Act No. 333 of the Michigan Public Acts of 1974, as amended
(the "Act") which, it improperly made or based upon any material
misrepresentation or inaccuracy, might invalidate the proceedings
regarding the Jamestowne Properties Project (the "Project")
pursuant to which the EDC expects ultimately to issue its limited
obligation economic development revenue bonds to finance all or
part of the Project.
3. Within the meaning and intent of Section 8(4)(h) of
the Act, all persons performing work on the construction of the
Project will be paid the prevailing wage and fringe benefit rates
for the same or similar work in the locality in which the work is
to be performed, as determined pursuant to Act No. 156 of the
Michigan Public Acts of 1965. as amended.
JAMESTONNE_PR-DPERTIES LIMITED PARTNERSHIP
a Michiggfi- Limited Partnership
Richard A. Roeser
Parther
Exhibit D
COMPANY CERTIFICATE REGARDING
TRANSFER CF EMPLOYMENT
(Jamestowne Properties Project)
The undersigned, Jamestowne Properties Limited
Partnership (the "Company"), hereby certifies to The Economic
Development Corporation of the County of Oakland (the mEDC 4 ) as
follows:
1. This Certificate is made and based upon the best of
the Company's knowledge and belief, only after thorough
investigation and discussion with all owners of the Company and
pthers who might have knowledge regarding the subject matter.
2. The Company acknowledges that this Certificate will
be employed by the EDC as the sole basis for the EDC's
certification to the Board of Commissioners of the County of
Oakland as to transfer of employment as required by Section 8(3)
of the Economic Development Corporations Act, Act No 328 of the
Hichigan Public Acts of 1974, as amended, (the °Act*).
3. The Company understands that the EDC's Certification
to the Board of Commissioners of the County of Oakland is a
statutory requirement which, if improperly made or based upon any
material misrepresentation or inaccuracy, might invalidate the
proceedings regarding the Jamestowne Properties Project (the
°Project') pursuant to which the EDC expects ultimately to issue
its limited obligation economic development revenue bonds to
finance all or part of the Project.
4. As of the date hereof, the Project shall not have
the effect of transferring employment of mote than 20 full-time
persons from a municipality (as that term is defined in the Act)
of this State to the Village of Bingham Farms. Michigan, the
municipality in which the Project will be located.
5. The Company agrees that during the life of the bonds
proposed to be issued by the EDC to finance the costs of the
Project for the Company, the Company will not permit a lease or
sublease in connection with the Project which would have the
effect of transferring. as to such lease, sublease or group of
leases or subleases which are interrelated (i.e. "interrelated"
means leases negotiated as part of one set of negotiations or
leases with lessees who are related by more than 50e common
ownership), employment of more than 20 full-time persons from a
municipality of this State to the Village of Bingham Farms,
!lichigan unless the Company or such lessee or sublessee has first
By:
I YT; Dated:
obtained a consent to the proposed transfer of employment from
the governing body of each municipality from which employment is
to be transferred.
6. The Company understands that a covenant to
effectuate the purposes of this Cert.ificate will be included in
those covenants to be made by the Company when bonds are issued
by the EDC for the benefit of the Project.
JAMESTOWNE PRO.PPRITES LITTFD PARTNFRUP
A Michrigan Limited Partnership
Richard A. Roeser Its: Partner