I am sure they are discussing taking the bond issue to market with various securities firms

(03-16-2018 04:41 PM)emu79 Wrote:  I am sure they are discussing taking the bond issue to market with various securities firms

True, but I doubt that is the hold up. I assume they have capital reserves which can be tapped and be replenished when the bond issue is sold in the securities markets.

I think the hold up is picking the general contractor and approving the design.

I just don't know the time frame from a). BOR approval, b). Selection of general contractor, c). EMU approval of design, zoning approvals, if any, etc. d). commencement of building.

I know a). is obviously complete. Believe b) is or should have been completed. C). ????????????????????

(03-16-2018 04:51 PM)emu steve Wrote:  

(03-16-2018 04:41 PM)emu79 Wrote:  I am sure they are discussing taking the bond issue to market with various securities firms

True, but I doubt that is the hold up. I assume they have capital reserves which can be tapped and be replenished when the bond issue is sold in the securities markets.

I think the hold up is picking the general contractor and approving the design.

I just don't know the time frame from a). BOR approval, b). Selection of general contractor, c). EMU approval of design, zoning approvals, if any, etc. d). commencement of building.

I know a). is obviously complete. Believe b) is or should have been completed. C). ????????????????????

Hey Steve,

Were you a finance major? Just curious :-)

(03-16-2018 05:19 PM)Luckeyone Wrote:  

(03-16-2018 04:51 PM)emu steve Wrote:  

(03-16-2018 04:41 PM)emu79 Wrote:  I am sure they are discussing taking the bond issue to market with various securities firms

True, but I doubt that is the hold up. I assume they have capital reserves which can be tapped and be replenished when the bond issue is sold in the securities markets.

I think the hold up is picking the general contractor and approving the design.

I just don't know the time frame from a). BOR approval, b). Selection of general contractor, c). EMU approval of design, zoning approvals, if any, etc. d). commencement of building.

I know a). is obviously complete. Believe b) is or should have been completed. C). ????????????????????

Hey Steve,

Were you a finance major? Just curious :-)

Undergrad business.

(03-16-2018 04:51 PM)emu steve Wrote:  

(03-16-2018 04:41 PM)emu79 Wrote:  I am sure they are discussing taking the bond issue to market with various securities firms

True, but I doubt that is the hold up. I assume they have capital reserves which can be tapped and be replenished when the bond issue is sold in the securities markets.

I think the hold up is picking the general contractor and approving the design.

I just don't know the time frame from a). BOR approval, b). Selection of general contractor, c). EMU approval of design, zoning approvals, if any, etc. d). commencement of building.

I know a). is obviously complete. Believe b) is or should have been completed. C). ????????????????????

The parking deal is an obstacle right now. That's 55 million in capital reserves when consummated. Privatizing those operations is the wave of the future as witnessed by Ohio State pulling that trigger.

Yet Pete Murdock, one of the folks who brought Ypsilanti the great "Water Street" debacle is questioning the parking deal because he found out the City actually has the power to approve the tax exempt status of the bonds the parking vendor is issuing to pay us. It boggles my mind! This is akin to Mike Duggan impeding Dan Gilbert and the Illitch family in all of their development ventures in Detroit.

I realize that a very liberal democrat like Murdock wants to keep EMU as vertically integrated as possible. Losing taxpayer funded jobs to a private employer is anathema to him. Yet he has been a major force in Ypsilanti city government since 1978 and one might ask "how has that time worked out for you"?