HomeMy WebLinkAboutResolutions - 1985.11.07 - 11294MISCELLANEOUS RESOLUTION NO. 85334
RE: ECONOMIC DEVELOPMENT GROUP
RESOLUTION APPROVING AMENDED PROJECT PLAN
(COMPREHENSIVE RETIREMENT COMMUNITIES LIMITED PARTNERSHIP
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") 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
Comprehensive Retirement Communities Limited Partnership
Project (the "Project Plan") and this Board of Commissioners
approved the Project Plan following a public hearing; 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 (1)
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, the Project Plan has been amended to increase
the amount estimated as necessary to construct the Project and
the amount of bonds to be issued to finance the Project, and a
copy of the Project Plan as so amended is attached hereto as
Exhibit A (the "Amended Project Plan); and
WHEREAS, on November 7 , 1985, this Board of
Commissioners held a public hearing to consider whether the
Amended 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 Amended Project Plan, has
determined that the _Amended Project Plan does constitute a
public purpose;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF
COMMISSIONERS OF THE COUNTY OF OAKLAND, as follows:
1. The Amended 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 Amended 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
James gaware Lanni
Chairma
_
HEREBY APPROVE THE FOREGOING RESOUMr'N n:
2
nn. lanni nnnell Mr-Donald MrPhprcnn
RESOLUTION DECLARED ADOPTED:
len
CounVy Clerk
YEAS: R. Kuhn, S.
Moore, Nelson, Olsen, Page, Perinoff, Pernick, Price, Rewold, Skarritt,
Aaron, Caddell, CALandrn, noynn, Fnrtinn, cling , Haschprger, HnhArt
off itt,
Webb, Wilcox,
(2 7)
NAYS:
ABSENT:
ABSTENTIONS:
None. (0)
None. (0)
None. (0)
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 7th day of November , 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.
CountV Clerk
Dated: November 7 , 1985
(2254b)
(0720B)
3
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no,br..ry,:s%=5 rlroionT.I. 10 011 E11000 WiN 110 91)040
be pablo ix, The Tev,,o..sh .r., cri Woo? Frk,nrMi•atn,
the Ceenty Oat:toed, •he.ir taxpayers. no The
Ecnnono Corporation of ?ba Cour
tY .04 Oaklaci
Moos, DJEl•M. Eys copy cq the _Arrnndoni Project
Plan and al) other infornnancol relt2tecl ?h. The
proK.0 is available lop puliei L,nspection ol the
Ottece b lae, Oakland County Clerk. 001 Nr155
Ta{eor9pn Rood. Ponlic. Mich,gan, behoenn
hooro 91 8 00. A M. and 1900 M., we0: riaYS. Any
51400101 the Wanner/ Preiorl May hi dis.cuSsod
Ilie bahhc hearng and alt infercste,d persnns
be Wven an apPr,rtunih, PO be hearcf. The ho,9.nng
With prooKle the fiillest opoortunily br the
r.-Ypro.-snion Pl opinion, arronnohli,. on the merit'
-and ;ntronlilrf,:pn of :locurnenzioy ovidenne vela-
?Ion hp the Procol Plan
Ii you would pro#er 1'0 SN'id wrtlen nom meniS
or oonsideraien, please orwarci them to Lynn D,
Allen, Oakland County Clerk, a1 the above
addroLso Or 1 you have 'tides/ions, you may cc d:
958 0591_ Wei) be pleased to try and answer any
gionst -ss you 1n9y have concorning tho
091)095 Alen
Oak#and Couroty Clerk
Reoi•sh=n of Deeds
October 29. 1905
1
Exhibit A
THE ECONOMIC DEVELOPMENT CORPORATION
OF THE COUNTY OF OAKLAND
Oakland County, Michigan
Comprehensive Retirement Communities Limited
Partnership Project
PROJECT PLAN
AMENDED *
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
Amended only to increase maximum amount of bonds to be
issued due to anticipated construction cost increases.
PROJECT PLAN
SUMMARY DESCRIPTION OF
Comprehensive Retirement Communities Limited
Partnership Project
OWNER OF PROJECT: Comprehensive Retirement Communities
Limited Partnership
CONTACT PERSON: (Name, address, telephone number)
Rex G. Lanyi (313) 626-3500
4900 Fairway Ridge South
West Bloomfield, MI 48033
LOCATION OF PROJECT: (Local municipality)
West Bloomfield Township
PROJECT AREA/DISTRICT AREA: See Exhibit A
NATURE OF PROJECT: Nursing Home and Home For The Aged
EMPLOYMENT CREATED OR RETAINED: 121 full-time positions
TOTAL PROJECT COST: $9,000,000 *
BONDS TO BE ISSUED: $9,000,000 *
BOND PURCHASER: Van Kampen Merritt Inc.
2 Penn Center Plaza, Suite 1600
Philadelphia, PA 19102
DATE AND EXPIRATION DATE OF BOND PURCHASE COMMITMENT:
Issue Date of July 24, 1985
Expiration Date of December 31, 1985
Costs and bond amount increased to reflect anticipated
increases in construction costs.
2
By:
3
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 STATU-
TORILY REQUIRED AND, IF IT CONTAINS ANY MATERIAL MISREPRESENTA-
TION OR INACCURACY, COULD RESULT IN THE INVALIDATION OF THE
ECONOMIC DEVOLOPMENT CORPORATION PROCEEDINGS REGARDING THE
PROJECT TO WHICH THE PROJECT PLAN PERTAINS.
COMPREHENSIVE RETIREMENT
COMMUNITIES LIMITED PARTNERSHIP
jet
Rex G. Lahyi fo Bloomfield
Glens Management Company
Its: General Manager
Dated: October 10, 1985
PROJECT PLAN
STATUTORILY REQUIRED INFORMATION REGARDING
Comprehensive Retirement Communities Limited
Partnership 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, INDUS-
TRIAL, EDUCATIONAL, AND OTHER USES; AND A LEGAL DESCRIPTION OF
THE PROJECT AREA:
The Project will be located west of
Farmington Road between 14 Mile Road and
Maple Road. The area is characterized by
private residential subdivisions to the
west, east and south, and by private com-
mercial buildings to the north. No part of
the Project property will be devoted to
public purposes. The Project is comprised
of the acquisition of land and construction
thereon of a long-term care and supportive
living facility containing 120 nursing home
beds and 112 intermediate care beds. 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 DESCRIP-
TION OF REPAIRS AND ALTERATIONS; AND AN ESTIMATE OF THE TIME
REQUIRED FOR COMPLETION:
NONE REQUIRED.
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.
ESTIMATED TOTAL COSTS OF DEVELOPMENT WILL BE
$9,000,000. THE ESTIMATED TIME REQUIRED FOR
COMPLETION WILL BE FIFTEEN MONTHS.
4
7/1/86 to 7/15/86
7/15/86 to 1/31/87
IV. A DESCRIPTION OF THE CONSTRUCTION OR STAGES OF
CONSTRUCTION PLANNED, AND THE ESTIMATED TIME OF COMPLETION OF
EACH STAGE:
1) Construction Permit &
Mobilization...... ..... . October 15, 1985 to 10/30/85
2) Site Preparation ......
3) Foundation
. 10/30/85 to 11/14/85
11/15/85 to 12/30/85
4) Masonry (Exterior) &
Precast Floor ....
5) Concrete Slabs on Ground.
6) Roof System .......
• 1/1/86 to 3/31/86
• 4/1/86 to 5/14/86
• 5/15/86 to 6/30/86
7) Enclose Building
(windows, etc.)
8) Interior Finish
V. A DESCRIPTION OF THE PARTS OF THE PROJECT AREA TO
BE LEFT AS OPEN SPACE AND THE USE CONTEMPLATED FOR THE SPACE:
OPEN SPACE WILL BE CONFINED TO LAWN 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 change is necessary. However, a
Special Use Permit is required. We were
given a Special Use Permit in 1983 for the
Project, and are in the process of having it
updated for 1985.
5
VIII. A DESCRIPTION OF THE PROPOSED METHOD OF
FINANCING THE PROJECT, INCLUDING ATTACHMENT OF A COPY OF THE
BOND PURCHASER'S COMMITMENT LETTER:
The E.D.C. bond will be purchased by Van
Kempen Merrit, Inc. (see attached commitment
letter). In additon, FHA mortgage insurance
will be obtained as a credit enhancement
tool.
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.
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:
Rex G. Lanyi
Herman Frankel
XI. DESIGNATION OF THE PERSON OR PERSONS, NATURAL OR
CORPORATE, TO WHOM THE PROJECT IS TO BE LEASED, SOLD OR CON-
VEYED AND FOR WHOSE BENEFIT THE PROJECT IS BEING UNDERTAKEN, TO
THE EXTENT THAT INFORMATION IS PRESENTLY AVAILABLE:
Bloomfield Glens Nursing Home, Inc. (same
persons as those listed above will be share-
holders of the corporation), a Michigan
corporation, which will be the operator of
the entire facility. The Project will be
leased to the operator by the owner,
Comprehensive Retirement Communities Limited
Partnership.
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:
SEE XI.
6
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 HOUSING IN THE COMMUNITY, AND THE ESTI-
MATED 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 REIM-
BURSEMENT OF EXPENSES, INCLUDING LITIGATION EXPENSES AND
EXPENSES INCIDENT TO THE TRANSFER OF TITLE, IN ACCORDANCE WITH
THE STANDARDS AND PROVISIONS CF 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.
7
XVII. OTHER MATERIAL AS THE ECONOMIC DEVELOPMENT
CORPORATION, LOCAL PUBLIC AGENCY, OR GOVERNING BODY CONSIDERS
PERTINENT:
Not applicable.
8
REVISIONS
COCO BY:
T E DATE
922
DRN
G X r l
LEGAL DESCRIPTION
PART OF THE EAST HALF OF THE NORTHEAST QUARTER OF SECTION
33, TOWN 2 NORTH, RANGE 9 EAST, WEST BLOOMFIELD TOWNSHIP,
OAKLAND COUNTY, MICHIGAN DESCRIBED AS BEGINNING AT A POINT
IN THE EAST LINE OF SECTION 33 ALSO BEING THE CENTERLINE OF
FARMINGTON ROAD, N. 00 DEC. 04 MIN. 30 SEC. W. 122.92 FEET
FROM THE EAST k CORNER OF SECTION 33; THENCE S. 89 DEC. 39
MIN. 48 SEC. W. 677.47 FEET; THENCE N. 00 DEC. 04 MIN. 30
SEC. W. 642.98 FEET; THENCE N. 89 DEC. 39 MIN. 48 SEC. E.
677.47 FEET TO SAID EAST LINE OF sEctroN 33; THENCE ALONG
SAID LINE S. 00 DEC. 04 MIN. 30 SEC. E. 642.98 FEET TO THE
POINT OF BEGINNING, CONTAINING 10.00 ACRES GROSS AND 9.11
ACRES TO THE PROPOSED 60 FT. RIGHT OF WAY LINE OF FARMINGTON
ROAD.
NOTES:
PROPERTY SIZE AND RESULTING DESCRIPTION AS PER
MEETING WITH MR. HERMAN FRANKEL ON APRIL 1-1985.
D.P.W. SANITARY SEWER 13 MILE ARM CROSSES
FARMINGTON RD. 1965 NORTH OF S.E. CORNER SECTION
33 INV. 900.15
STORM WATER OUTLET IS TO PEBBLE CREEK
CERTIFICATION TO:
WE HEREBY CERTIFY that we have surveyed the parcel of
land described and delineated hereon; that said plan is a
true representation of a survey preformed by us and that
there are no encroachments other than as shown hereon;
that said survey was performed with an error of closure no
greater than 1 in 5000.
EUGENE F. ZEIMET
R.L.S. 9209
BLOOMFIELD GLEN HEALTH CEN
BY : WEST BLOOMFIELD TWP MICHIGAN
BOUNDARY SURVEY
ZEIMET-WCZNIAK a ASSOCi INC.
CIVIL ENGINEERS a LAND SURVEYORS
29200 SOUTHFIEID ROAD, SUITE 205
SOUTHFIELD, MICHIGAN 48076
(313) 559 -7944
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A XEROX Financial Services Company
CO,
July 24, 1985
Mr. Rex G. Lanyi
Comprehensive Retirement Communities
Limited Partnership
4900 Fairway Ridge South
West Bloomfield, Michigan 48033
RE: The Economic Development Corporation of Oakland County -
Bond Issue for Bloomfield Glens Project
Dear Mr. Lanyi:
This letter is in response to our discussions concerning the
proposed FHA-insured, tax-exempt bond issue for the long-term
care and supportive living unit project that your company plans
to develop in West Bloomfield, Michigan. Van Kampen Merritt Inc.
would be pleased to act as the underwriter for such a bond issue,
based upon the terms set forth in this letter.
It is our understanding from information supplied to us
that:
1. The project to be financed (the "Project") consists of
the purchase of certain land in West Bloomfield,
Michigan, the construction thereon of a long-term care
and supportive living facility containing 120 nursing
homes beds and 112 intermediate care beds.
2. You expect to receive a commitment for FHA mortgage
insurance for the Project under Section 232 of the
National Housing Act and the applicable HUD
regulations.
3. The total cost of constructing, equipping and financing
the Project, as set forth in the draft of the FHA
insurance application that you provided to us, is
presently estimated to be $7,581,779.
4. The Project will be financed through the issuance of
long-term (30 to 40 years), tax-exempt industrial
revenue bonds (the "Bonds") by The Economic Development
Corporation of Oakland County (the "Issuer"), and an
inducement resolution for such bonds has already been
obtained from the Issuer.
Van Kampen Merritt is prepared and will be pleased to serve
2 Penn Center Plaza, Suite 1600, Philadelphia, Pennsylvania 19102
Pennsylvania • New York• California • Texas • Florida • illinois
as the investment banker for the Project, and as the investment
banker purchase the Bonds, subject to the fulfillment of the
following conditions:
1. The receipt of a firm commitment from HUD for the FHA
mortgage insurance.
2. The execution of bond documents, in form satisfactory
to Van Kampen Merritt, by the Issuer and the entity
that will own the Project.
3. The receipt of an approving opinion of bond counsel
satisfactory to Van Kampen Merritt attesting to the
legality and tax—exempt status of the Bonds.
4. Security provisions satisfactory to Van Kampen Merritt
which result in a rating from Standard & Poor's of an
investment grade of no less than "A".
The interest rate on the Bonds will be determined at the
time that Van Kampen Merritt purchases the Bonds, based upon
market conditions at that time. Our fee for our services will be
as set forth in our letter to you of April 30, 1985.
We trust that this letter is responsive to your needs and is
appropriate for use in obtaining the required approvals from the
Issuer. We would be pleased to provide you with any additional
information that you may require.
Sincerely,
6J,
Gerard W. Farrell
Vice President
National Health Care
Finance Division
GWF:kmd
6•Xh.i
beremmar
RODGERS AND MORGENSTE1N
ATToRN EYS AT LAW
211 HUNTERS SQUARE
31555 WEST FOURTEEN MILE ROAD
FARM INGTON HILLS, MICHIGAN 48018
TELEPHONE A-C. (313) 855-5050
14oRAcE J. RODGERS
HENRY , MORO EN STEIN
July 24, 1985
Mr. Mark Habel
Director of Programs
Department of Housing and
Urban Development
477 Michigan Avenue
Detroit, Michigan 48226
RE: FHA Project No. 044-43044
Bloomfield Glens Health Center
a/k/a Comprehensive Retirement Communities
West Bloomfield, Michigan
Dear Mr. Habel:
The Sponsors of the above project have been requested by the
Economic Development Corporation of the County of Oakland /which
will issue Tax Exempt Bonds for the permanent financing of the
project, to secure a report from your Office regarding the status
of the Application For Conditional Commitment. Please address
your letter, using the above caption, to:
Mr. Jeffrey A. Kaczmarek
Assistant Secretary, Board of Directors
The Economic Development Corporation
of the County of Oakland
Executive Office Building
1200 North Telegraph Road
Pontiac, Michigan 46053
would appreciate receiving a carbon copy of you reply. Thank
you for your cooperation in this matter.
Very truly yours,
RODG'-RS AND ORGENSTEIN
Henry t. M rgens
HBM:fp
CC Mr. Rex Lanyi
Ey:
Exhibit C
COMPANY CERTIFICATE REGARDING
PAYMENT OF PREVAILING WAGES
Comprehensive Retirement Communities
Limited Partnership Project
The undersigned, Comprehensive Retirement Communities
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, if improperly made or based
upon any material misrepresentation or inaccuracy, might
invalidate the proceedings regarding the Comprehensive Retire-
ment Communities Limited Partnership 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.
COMPREHENSIVE RETIREMENT
COMMUNITIES LIMITED pARTNERSHIP
Rex G. LanYi/for4iloomfield
Glens Management Company
Its: General Manager
Dated: October 10, 1985
9
n7`
Exhibit D
COMPANY CERTIFICATE REGARDING
TRANSFER OF EMPLOYMENT
Comprehensive Retirement Communities
Limited Partnership Project
The undersigned, Comprehensive Retirement Communities
Limited Partnership (the "Company"), hereby certifies to The
Economic Development Corporation of the County of Oakland (the
"EDC") as follows:
I. 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 tne Economic Development Corporations Act, Act No. 338
of the Michigan Public Acts of 1974, as amended, (the "Act").
3. The Company understands that the EDC's Certifica-
tion 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 Comprehensive Retirement Com-
munities Limited Partnership 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 more than 20 full-time
persons from a municipality (as that term is defined in the
Act) of this State to West Bloomfield, Michigan, the munici-
pality in wnich 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
1 0
full-time persons from a municipality of this State to West
Bloomfield, Michigan unless the Company or such lessee or
sublessee has first 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.
COMPREHENSIVE RETIREMENT COMMUNITIES
LIMITED PARTNERSH14,)
By: .0:-///4
0/
Rex G. Lanyi/for/Bloomfield
Glens Management Company
Its: General Manager
Dated: October 10, 1985
(2225b)
(0719B)
11
