WEBVTT 1 "3157****70" (3660409600) 00:00:01.710 --> 00:00:05.249 Yeah, it was impossible last time, right? 2 "jspaeth@cityofutica.com" (3258531584) 00:00:05.249 --> 00:00:14.489 Honey, we are recording. 3 "jspaeth@cityofutica.com" (3258531584) 00:00:14.489 --> 00:00:19.919 2nd, all right. Um. 4 "jspaeth@cityofutica.com" (3258531584) 00:00:22.495 --> 00:00:28.255 Um, I had there were certain changes that the company had in their application. 5 "jspaeth@cityofutica.com" (3258531584) 00:00:28.555 --> 00:00:39.505 Um, I had sent you both applications and references as to what sections the head sources uses starting dates and. 6 "jspaeth@cityofutica.com" (3258531584) 00:00:40.950 --> 00:00:45.690 It was a 4th item I can't remember right right. 7 "jspaeth@cityofutica.com" (3258531584) 00:00:45.690 --> 00:00:53.520 Correct on King street so we are here just to accept those amendments to the replication. 8 "jspaeth@cityofutica.com" (3258531584) 00:00:53.520 --> 00:00:58.800 No, no, nothing there. No, that's fine. 9 "jspaeth@cityofutica.com" (3258531584) 00:00:58.800 --> 00:01:03.330 Hmm, no. 10 "jspaeth@cityofutica.com" (3258531584) 00:01:06.600 --> 00:01:13.830 Okay, mark the part. 11 "jspaeth@cityofutica.com" (3258531584) 00:01:14.880 --> 00:01:21.360 Oh, it's quite the artist. 12 "jspaeth@cityofutica.com" (3258531584) 00:01:21.360 --> 00:01:25.800 Do something. 13 "3157****70" (3660409600) 00:01:28.560 --> 00:01:32.280 Laura, they didn't add that additional small parcels. 14 "jspaeth@cityofutica.com" (3258531584) 00:01:32.280 --> 00:01:35.760 Yeah, that was what, uh, well. 15 "3157****70" (3660409600) 00:01:38.910 --> 00:01:42.210 Laura, I can't hear you. 16 "3157****70" (3660409600) 00:01:44.130 --> 00:01:49.320 Yeah. 17 "3157****70" (3660409600) 00:01:49.320 --> 00:01:52.650 All right I I couldn't hear Laura. 18 "3157****70" (3660409600) 00:01:54.720 --> 00:02:02.520 I'm saying, but I don't I don't know how to explain it. I can't I can't hear you. 19 "3157****70" (3660409600) 00:02:02.520 --> 00:02:08.250 Okay. 20 "jspaeth@cityofutica.com" (3258531584) 00:02:13.080 --> 00:02:16.620 Okay. 21 "jspaeth@cityofutica.com" (3258531584) 00:02:21.690 --> 00:02:24.990 Hello. 22 "jspaeth@cityofutica.com" (3258531584) 00:02:27.120 --> 00:02:31.920 Okay. 23 "jspaeth@cityofutica.com" (3258531584) 00:02:31.920 --> 00:02:35.340 Okay hey, good morning. 24 "jspaeth@cityofutica.com" (3258531584) 00:02:35.340 --> 00:02:39.360 All favorite. 25 "jspaeth@cityofutica.com" (3258531584) 00:02:39.360 --> 00:02:43.650 Um, Hello hello. 26 "jspaeth@cityofutica.com" (3258531584) 00:02:43.650 --> 00:02:49.860 Okay, sorry about. 27 "jspaeth@cityofutica.com" (3258531584) 00:02:54.060 --> 00:03:00.810 Hmm. 28 "jspaeth@cityofutica.com" (3258531584) 00:03:00.810 --> 00:03:04.470 Okay. 29 "jspaeth@cityofutica.com" (3258531584) 00:03:04.470 --> 00:03:09.330 Okay. 30 "jspaeth@cityofutica.com" (3258531584) 00:03:10.710 --> 00:03:18.480 Well, really I know I don't feel that at all. Hmm. 31 "jspaeth@cityofutica.com" (3258531584) 00:03:18.480 --> 00:03:22.050 Okay. 32 "jspaeth@cityofutica.com" (3258531584) 00:03:22.050 --> 00:03:30.600 Here guys just so, you know, I am back to only hearing Jack. 33 "3157****70" (3660409600) 00:03:32.280 --> 00:03:40.980 So, it didn't get fixed. 34 "jspaeth@cityofutica.com" (3258531584) 00:03:53.610 --> 00:03:59.520 Any better I heard all I heard was any better. 35 "jspaeth@cityofutica.com" (3258531584) 00:03:59.520 --> 00:04:02.760 How about me, Linda can you hear mark? 36 "3157****70" (3660409600) 00:04:02.760 --> 00:04:09.840 Now, I can, you know, I wonder if you just call me on your cell phone and put it on speaker. 37 "3157****70" (3660409600) 00:04:09.840 --> 00:04:13.260 And then when people are talking, just pass it around. 38 "jspaeth@cityofutica.com" (3258531584) 00:04:14.880 --> 00:04:20.190 I think we just fixed it when I think we just changed the setting laptop. 39 "3157****70" (3660409600) 00:04:20.190 --> 00:04:25.470 Oh, hi, Laura. Hi. Hi. How are you? 40 "jspaeth@cityofutica.com" (3258531584) 00:04:25.470 --> 00:04:30.689 Okay all right all right now that Laura said it. Well. 41 "3157****70" (3660409600) 00:04:30.689 --> 00:04:35.789 Oh, there we go. 42 "jspaeth@cityofutica.com" (3258531584) 00:04:35.789 --> 00:04:40.229 Okay. 43 "jspaeth@cityofutica.com" (3258531584) 00:04:40.229 --> 00:04:52.259 Obviously, I have to express my conflict here as the chairman of the harbor as well as the chairman here. So I'll be observing and I'm pushing myself away from the table and. 44 "jspaeth@cityofutica.com" (3258531584) 00:04:52.259 --> 00:04:57.239 Hello. 45 "jspaeth@cityofutica.com" (3258531584) 00:04:58.619 --> 00:05:07.289 Okay, are you going to intro or? Oh, you guys all know everybody, you know, Andy Patel I think I'm on. 46 "jspaeth@cityofutica.com" (3258531584) 00:05:07.289 --> 00:05:13.289 Good to meet you. I don't know, but I'm doing good to meet you. 47 "jspaeth@cityofutica.com" (3258531584) 00:05:13.289 --> 00:05:22.229 Employment, I'm talking about that. I know. Yeah. We don't need to go through all that. I don't have a whole lot. 48 "jspaeth@cityofutica.com" (3258531584) 00:05:22.229 --> 00:05:29.279 So, I think we sent you guys a letter kind of, with some questions. I know there's been some correspondence back and forth, but. 49 "jspaeth@cityofutica.com" (3258531584) 00:05:29.279 --> 00:05:32.999 And then we start with just explaining your project and. 50 "jspaeth@cityofutica.com" (3258531584) 00:05:32.999 --> 00:05:36.239 Everybody here and a little more detail so. 51 "jspaeth@cityofutica.com" (3258531584) 00:05:37.439 --> 00:05:44.069 So, basically, I mean, as you all know, we are mostly a hotel developer. 52 "jspaeth@cityofutica.com" (3258531584) 00:05:44.069 --> 00:05:47.789 Bye bye. 53 "jspaeth@cityofutica.com" (3258531584) 00:05:48.839 --> 00:05:53.699 Download for that for developing 1 because. 54 "jspaeth@cityofutica.com" (3258531584) 00:05:55.409 --> 00:05:59.609 We always wonder if apartments. 55 "jspaeth@cityofutica.com" (3258531584) 00:05:59.609 --> 00:06:02.609 Can you speak up? Please. 56 "jspaeth@cityofutica.com" (3258531584) 00:06:02.609 --> 00:06:08.009 Okay, so as a, um. 57 "jspaeth@cityofutica.com" (3258531584) 00:06:08.009 --> 00:06:14.429 So, as as a company, and as visions hotels, we always developers all for 40 years. Now. 58 "jspaeth@cityofutica.com" (3258531584) 00:06:14.429 --> 00:06:21.179 And we have always contemplated an idea about getting into the multifamily. 59 "jspaeth@cityofutica.com" (3258531584) 00:06:21.179 --> 00:06:24.569 You know, kind of real estate. 60 "jspaeth@cityofutica.com" (3258531584) 00:06:24.569 --> 00:06:32.039 And you're this new data, we have so much presence in with Oracle development. 61 "jspaeth@cityofutica.com" (3258531584) 00:06:32.039 --> 00:06:37.229 And we have a partnership group that is very happy with the hotel investment. 62 "jspaeth@cityofutica.com" (3258531584) 00:06:37.229 --> 00:06:42.449 We have a very strong following, so we said this would be the 1 to. 63 "jspaeth@cityofutica.com" (3258531584) 00:06:42.449 --> 00:06:46.439 If you ever want to do a nice big live, you know. 64 "jspaeth@cityofutica.com" (3258531584) 00:06:46.439 --> 00:06:51.629 Multi family, housing project this would be the place to do it. 65 "jspaeth@cityofutica.com" (3258531584) 00:06:51.629 --> 00:06:57.989 That's why we are we, we want this blend come across from engineer and. 66 "jspaeth@cityofutica.com" (3258531584) 00:06:57.989 --> 00:07:03.719 You know, the hardware projects have like a very nice project. Um, we're looking to develop a. 67 "jspaeth@cityofutica.com" (3258531584) 00:07:03.719 --> 00:07:09.689 240 units, multi family housing with the very. 68 "jspaeth@cityofutica.com" (3258531584) 00:07:09.689 --> 00:07:14.189 Nice um, modern stuff with the high end. 69 "jspaeth@cityofutica.com" (3258531584) 00:07:14.189 --> 00:07:20.069 Compliment our hotels and, you know, in the area very well. 70 "jspaeth@cityofutica.com" (3258531584) 00:07:20.069 --> 00:07:24.539 Things that, and then it is that you will have with the. 71 "jspaeth@cityofutica.com" (3258531584) 00:07:24.539 --> 00:07:27.689 Facilities for the residents to enjoy. 72 "jspaeth@cityofutica.com" (3258531584) 00:07:27.689 --> 00:07:31.589 Will be something that probably, you know, would be something that. 73 "jspaeth@cityofutica.com" (3258531584) 00:07:31.589 --> 00:07:35.039 If I'm not used to call. 74 "jspaeth@cityofutica.com" (3258531584) 00:07:35.039 --> 00:07:40.229 Fitness room think about core outside, you know, just just a nice. 75 "jspaeth@cityofutica.com" (3258531584) 00:07:40.229 --> 00:07:44.819 And the unit itself being very well that out, um. 76 "jspaeth@cityofutica.com" (3258531584) 00:07:44.819 --> 00:07:50.519 That's what we want to do. I mean, that's what our goal is to build a very nice facilities with the. 77 "jspaeth@cityofutica.com" (3258531584) 00:07:50.519 --> 00:07:53.639 We didn't seem like, you know, I. 78 "jspaeth@cityofutica.com" (3258531584) 00:07:53.639 --> 00:07:58.499 This 1 probably matter or without the client's team there. Um, and, uh. 79 "jspaeth@cityofutica.com" (3258531584) 00:07:58.499 --> 00:08:02.519 240 units is the is the model is going to build. 80 "jspaeth@cityofutica.com" (3258531584) 00:08:02.519 --> 00:08:08.519 And then we are going to do another hotel there on that complex also. 81 "jspaeth@cityofutica.com" (3258531584) 00:08:08.519 --> 00:08:14.579 Marriott or Hilton flag most likely Marriott flag we are in negotiation with them. 82 "jspaeth@cityofutica.com" (3258531584) 00:08:14.579 --> 00:08:23.279 Marriott hotel more extended state there's no other than our ongoing to send this day. 83 "jspaeth@cityofutica.com" (3258531584) 00:08:23.279 --> 00:08:31.889 Product in, so which is your home is the next day, but it's not quite an extended stay. It doesn't have a hockey facility there. 84 "jspaeth@cityofutica.com" (3258531584) 00:08:31.889 --> 00:08:36.899 So this is to be an extended table. That is what we are looking at building over there. 85 "jspaeth@cityofutica.com" (3258531584) 00:08:36.899 --> 00:08:44.069 To compliment, you know, people staying for longer term a little bit. Um, and then just, uh, you know, they'll do out. 86 "jspaeth@cityofutica.com" (3258531584) 00:08:44.069 --> 00:08:50.279 Um, and may have been pushing me on the water part. Um. 87 "jspaeth@cityofutica.com" (3258531584) 00:08:50.279 --> 00:08:57.149 And his dream, and I'm, I'm going to take the 2nd page down the road, but it's coming to my. 88 "jspaeth@cityofutica.com" (3258531584) 00:08:58.199 --> 00:09:01.829 I feel like it is giving me now that. 89 "jspaeth@cityofutica.com" (3258531584) 00:09:01.829 --> 00:09:05.309 We will always look at that as, uh. 90 "jspaeth@cityofutica.com" (3258531584) 00:09:05.309 --> 00:09:11.399 Something how I can do it, but I want to get get to this page for this phase of approval. 91 "jspaeth@cityofutica.com" (3258531584) 00:09:11.399 --> 00:09:17.039 And then I want to go back to my team and people and try to convince them to add a little waterfall. 92 "jspaeth@cityofutica.com" (3258531584) 00:09:17.039 --> 00:09:26.519 It may not be able to scale that we originally contemplated, which was a very, very large water park. And I, we all get scared with. 93 "jspaeth@cityofutica.com" (3258531584) 00:09:26.519 --> 00:09:32.429 More than anything will I be part of it then? Not that big at least the ones that. 94 "jspaeth@cityofutica.com" (3258531584) 00:09:32.429 --> 00:09:35.609 People our local area more than Joe. 95 "jspaeth@cityofutica.com" (3258531584) 00:09:35.609 --> 00:09:39.089 Um, that would be something that. 96 "jspaeth@cityofutica.com" (3258531584) 00:09:39.089 --> 00:09:42.899 People from firewall will say, let's go and within this place, but. 97 "jspaeth@cityofutica.com" (3258531584) 00:09:42.899 --> 00:09:47.999 We are looking at that as, uh, as a 2nd phase down the road. 98 "jspaeth@cityofutica.com" (3258531584) 00:09:47.999 --> 00:09:51.419 But that thing, right now, we want to get this approval in place for it. 99 "jspaeth@cityofutica.com" (3258531584) 00:09:51.419 --> 00:09:55.169 And, uh, then go with that down the road. 100 "jspaeth@cityofutica.com" (3258531584) 00:09:55.169 --> 00:09:59.129 But it's, uh, that's what we have here. We think that. 101 "jspaeth@cityofutica.com" (3258531584) 00:09:59.129 --> 00:10:03.269 And in the project, I mean, it's it's a large project. Um. 102 "jspaeth@cityofutica.com" (3258531584) 00:10:03.269 --> 00:10:14.849 Hello, uh, the site has a very, very lots of challenges. Um, there's a lot of, uh, cost involved in the, just the type work and development side of that. 103 "jspaeth@cityofutica.com" (3258531584) 00:10:14.849 --> 00:10:21.149 We were originally when we started the conversation, there was some money available from the city or whatever. 104 "jspaeth@cityofutica.com" (3258531584) 00:10:21.149 --> 00:10:27.239 It's all not there, I mean, because of city state money, whatever it was 1 of the available was not there. Now. 105 "jspaeth@cityofutica.com" (3258531584) 00:10:27.239 --> 00:10:31.169 We are going to pay them. 106 "jspaeth@cityofutica.com" (3258531584) 00:10:31.169 --> 00:10:36.209 A bridge value for the site they need that. So we are fine with that. Um. 107 "jspaeth@cityofutica.com" (3258531584) 00:10:36.209 --> 00:10:43.199 And I think we did the pilot program to help support the project. 108 "jspaeth@cityofutica.com" (3258531584) 00:10:43.199 --> 00:10:49.019 For this time, so it's gonna be very close to, I think, 64Million dollar in their range. I mean, this. 109 "jspaeth@cityofutica.com" (3258531584) 00:10:49.019 --> 00:10:53.069 This is what you are enough for us, or we are estimating everything when it comes to. 110 "jspaeth@cityofutica.com" (3258531584) 00:10:53.069 --> 00:10:58.709 Faster the price, but we feel like it's going to be close to those number. Mm. Hmm. 111 "jspaeth@cityofutica.com" (3258531584) 00:10:58.709 --> 00:11:05.459 That's that we have done many projects in Utica and, uh, I think. 112 "jspaeth@cityofutica.com" (3258531584) 00:11:05.459 --> 00:11:11.969 I think we will get it done. We have not started a project and not finished it on time and. 113 "jspaeth@cityofutica.com" (3258531584) 00:11:11.969 --> 00:11:16.169 There was a lot of questions back and forth on the timing. 114 "jspaeth@cityofutica.com" (3258531584) 00:11:16.169 --> 00:11:22.589 And, you know, just move that we have to make sure that our goal is to get in and get out. 115 "jspaeth@cityofutica.com" (3258531584) 00:11:22.589 --> 00:11:30.149 Nobody makes money, it's a project yesterday. Nobody does. Um, they were Christine all over the hotel project. We are done. 116 "jspaeth@cityofutica.com" (3258531584) 00:11:30.149 --> 00:11:35.549 We went in there and start from day 1. we say, help help us. Can we do it? 117 "jspaeth@cityofutica.com" (3258531584) 00:11:35.549 --> 00:11:41.669 And we've done it. The questions are when you put too many restrictions on the. 118 "jspaeth@cityofutica.com" (3258531584) 00:11:41.669 --> 00:11:45.959 On the project with financing and everything else in this phase of a project. 119 "jspaeth@cityofutica.com" (3258531584) 00:11:45.959 --> 00:11:52.289 We don't we want to make sure makes us uncomfortable. You want to make sure our financing partners are comfortable with the timing. 120 "jspaeth@cityofutica.com" (3258531584) 00:11:52.289 --> 00:12:02.339 And restriction any restrictions you put on a project, create 1 more harder. So we just want to get the restriction low as possible. So there's less hurdle on us. 121 "jspaeth@cityofutica.com" (3258531584) 00:12:02.339 --> 00:12:07.829 And I think we all agreed with the mayor's office and what would we send out? We send it out. 122 "jspaeth@cityofutica.com" (3258531584) 00:12:07.829 --> 00:12:11.609 With that, with all helping as a letter of intent to. 123 "jspaeth@cityofutica.com" (3258531584) 00:12:11.609 --> 00:12:16.319 I no, I mean, uh, I don't know, development for the. 124 "jspaeth@cityofutica.com" (3258531584) 00:12:16.319 --> 00:12:19.679 How when we'll start the project, and when we'll get it done. 125 "jspaeth@cityofutica.com" (3258531584) 00:12:19.679 --> 00:12:27.749 The sites still need, uh, some work when it comes to getting the style prep for construction. 126 "jspaeth@cityofutica.com" (3258531584) 00:12:27.749 --> 00:12:31.229 There are areas of the site where. 127 "jspaeth@cityofutica.com" (3258531584) 00:12:31.229 --> 00:12:37.319 You need to do a flowchart and the search, and you will take time um. 128 "jspaeth@cityofutica.com" (3258531584) 00:12:37.319 --> 00:12:45.239 And probably we will not be able to start until the storage that is done. So, but most likely we will. 129 "jspaeth@cityofutica.com" (3258531584) 00:12:45.239 --> 00:12:48.929 Add in spring construction of next year. 130 "jspaeth@cityofutica.com" (3258531584) 00:12:48.929 --> 00:12:57.329 Franchisees right now, get it already and if we can start, we'll be glad to start work, but I don't think so. We don't know yet but. 131 "jspaeth@cityofutica.com" (3258531584) 00:12:57.329 --> 00:13:03.839 The sooner we get to this process, and if we can get through it all in the fall or spring. 132 "jspaeth@cityofutica.com" (3258531584) 00:13:03.839 --> 00:13:07.169 As a construction start, and once we start, we want to go ahead and. 133 "jspaeth@cityofutica.com" (3258531584) 00:13:07.169 --> 00:13:13.319 But I think we have completed 2 and a half there. Is there some timing that is in the. 134 "jspaeth@cityofutica.com" (3258531584) 00:13:13.319 --> 00:13:16.889 Um, are we gonna we gonna go ahead and fast um, and, um. 135 "jspaeth@cityofutica.com" (3258531584) 00:13:16.889 --> 00:13:21.989 Let's, uh, it's going to be 240 units, approximately. 136 "jspaeth@cityofutica.com" (3258531584) 00:13:21.989 --> 00:13:25.979 And hotel approximately 100. 137 "jspaeth@cityofutica.com" (3258531584) 00:13:25.979 --> 00:13:34.529 With that, and is that the hotel include the property or is there. 138 "jspaeth@cityofutica.com" (3258531584) 00:13:34.529 --> 00:13:37.799 For some of the drawings I've seen, there was another hotel on. 139 "jspaeth@cityofutica.com" (3258531584) 00:13:37.799 --> 00:13:45.269 On 1 side yeah, yeah. Uh, we could add another hotel also on that side from that on that extra land. 140 "jspaeth@cityofutica.com" (3258531584) 00:13:45.269 --> 00:13:51.599 But we are now very, very frank about it. Uh, the. 141 "jspaeth@cityofutica.com" (3258531584) 00:13:51.599 --> 00:13:56.129 Blast it just hit me. It'd be personally. 142 "jspaeth@cityofutica.com" (3258531584) 00:13:56.129 --> 00:14:00.359 At last year we went, I was there. Mm hmm. 143 "jspaeth@cityofutica.com" (3258531584) 00:14:00.359 --> 00:14:03.539 The way he talked about the fire department and. 144 "jspaeth@cityofutica.com" (3258531584) 00:14:03.539 --> 00:14:11.999 Police Department, and just that, you know, especially a little bit that, you know what my number 1 reason personally is, I'm 6 year old. 145 "jspaeth@cityofutica.com" (3258531584) 00:14:11.999 --> 00:14:16.649 I don't want in my head, so good getting in here on my property on my wife. 146 "jspaeth@cityofutica.com" (3258531584) 00:14:16.649 --> 00:14:24.989 As a personal, you forget the money, but I was a little bit like, it touched me to say that, you know, what did you wanted? There's so many other. 147 "jspaeth@cityofutica.com" (3258531584) 00:14:24.989 --> 00:14:30.749 Recreational activities in the city that to have a water park. 148 "jspaeth@cityofutica.com" (3258531584) 00:14:30.749 --> 00:14:38.039 It's a nice thing. The risk everywhere in the world I just went through from February. I'm like, we'll start there, but. 149 "jspaeth@cityofutica.com" (3258531584) 00:14:38.039 --> 00:14:41.039 Can hopefully with some additional cost. 150 "jspaeth@cityofutica.com" (3258531584) 00:14:41.039 --> 00:14:44.219 And it's called labor additional protection. 151 "jspaeth@cityofutica.com" (3258531584) 00:14:44.219 --> 00:14:49.649 The city help to make sure the fire department and everybody help us design. It. 152 "jspaeth@cityofutica.com" (3258531584) 00:14:49.649 --> 00:14:52.679 So, yeah, no, the designing in a way that. 153 "jspaeth@cityofutica.com" (3258531584) 00:14:52.679 --> 00:14:56.759 Safety is maintained. There's no action. I'm going to be at my watch. 154 "jspaeth@cityofutica.com" (3258531584) 00:14:56.759 --> 00:15:01.859 And we can manage as long as we know as long as we can give it to components. 155 "jspaeth@cityofutica.com" (3258531584) 00:15:01.859 --> 00:15:07.739 We are thinking on that, so we might not do the technical job on the most likely. Will do the waterfall. 156 "jspaeth@cityofutica.com" (3258531584) 00:15:07.739 --> 00:15:11.309 That that's that's what I'm going with it. I don't want to. 157 "jspaeth@cityofutica.com" (3258531584) 00:15:11.309 --> 00:15:16.019 I think it's like my investors group, I have to watch who wants to be in it. 158 "jspaeth@cityofutica.com" (3258531584) 00:15:16.019 --> 00:15:19.469 Or they don't want to be in it with the water part, but I will. 159 "jspaeth@cityofutica.com" (3258531584) 00:15:19.469 --> 00:15:23.609 I am kind of personally. 160 "jspaeth@cityofutica.com" (3258531584) 00:15:25.349 --> 00:15:28.349 I want to get to this part 1st and the approval in. 161 "jspaeth@cityofutica.com" (3258531584) 00:15:28.349 --> 00:15:32.609 And then start going with the apartment. 162 "jspaeth@cityofutica.com" (3258531584) 00:15:32.609 --> 00:15:37.379 And doing my drawings for the hotel, in the water park. 163 "jspaeth@cityofutica.com" (3258531584) 00:15:38.609 --> 00:15:44.099 And I'll come back to the idea and I'm sure that the idea is not going to recap the, what. 164 "jspaeth@cityofutica.com" (3258531584) 00:15:44.099 --> 00:15:51.119 Once and that, that is another phase of that. Mm. Hmm. Okay. 165 "jspaeth@cityofutica.com" (3258531584) 00:15:51.119 --> 00:15:57.359 Okay questions. 166 "jspaeth@cityofutica.com" (3258531584) 00:15:57.359 --> 00:16:01.409 I'm not even a chance to read everything. 167 "jspaeth@cityofutica.com" (3258531584) 00:16:01.409 --> 00:16:14.969 It came in a little bit late based on my schedule, but just trying to understand what are the obstacles to getting better intent done with the harbor group? I don't know. I just, I don't know Rob can answer that. 168 "jspaeth@cityofutica.com" (3258531584) 00:16:14.969 --> 00:16:20.189 Um, it's a complicated site and with a complicated history um. 169 "jspaeth@cityofutica.com" (3258531584) 00:16:20.189 --> 00:16:24.029 Owned by a local development corporation now, which has its own. 170 "jspaeth@cityofutica.com" (3258531584) 00:16:24.029 --> 00:16:28.649 Requirements that it has to work through. So we've been trying to work through those. 171 "jspaeth@cityofutica.com" (3258531584) 00:16:28.649 --> 00:16:39.329 The most recent thing is, we were introduced to the concept of a clawback. The property's not developed in a certain period of time. So we've been trying to work through that. I sent a proposal. 172 "jspaeth@cityofutica.com" (3258531584) 00:16:39.329 --> 00:16:45.599 Stay probably towards the end of March to the development Corp attorneys, and they've been. 173 "jspaeth@cityofutica.com" (3258531584) 00:16:45.599 --> 00:16:52.349 Reviewing that so, that design the state, um, reverted clause, or? Yeah. 174 "jspaeth@cityofutica.com" (3258531584) 00:16:52.349 --> 00:16:56.009 Yeah, so that's it's a canal port, right? It's not. 175 "jspaeth@cityofutica.com" (3258531584) 00:16:56.009 --> 00:17:03.299 Put another head on the harbor board. It's the canal Corp. it's got the callback provision and we're trying to work. 176 "jspaeth@cityofutica.com" (3258531584) 00:17:03.299 --> 00:17:13.379 Around that to make sure we don't have to deal with a call back somewhere down the road. So well, no, the canal Corp is different. The canal Corp has its own. 177 "jspaeth@cityofutica.com" (3258531584) 00:17:13.379 --> 00:17:20.279 Um, the legislation that authorized the transfer of the real property to the canal corporation included a. 178 "jspaeth@cityofutica.com" (3258531584) 00:17:20.279 --> 00:17:29.309 Revert so, with the last harbor board, meeting the hardware board, introduce the concept of their own river. So that's what we've been trying to work around. 179 "jspaeth@cityofutica.com" (3258531584) 00:17:29.309 --> 00:17:32.909 To address that. 180 "jspaeth@cityofutica.com" (3258531584) 00:17:32.909 --> 00:17:40.859 What timeline did the Corp? Um, uh, none, I guess once she's all approved, I can sign it so. 181 "jspaeth@cityofutica.com" (3258531584) 00:17:40.859 --> 00:17:44.219 It's the attorneys at this point. 182 "jspaeth@cityofutica.com" (3258531584) 00:17:44.219 --> 00:17:50.309 My board gave me the authority to sign up so that's the converter we're talking about is. 183 "jspaeth@cityofutica.com" (3258531584) 00:17:50.309 --> 00:18:02.609 Construction right the the right? Yeah. Yeah so that's so there's 2, you got to kind of separate it right? You have your canal Corp issues with their record that we were willing to live with. 184 "jspaeth@cityofutica.com" (3258531584) 00:18:02.609 --> 00:18:07.889 But now there's additional ones that we're working through regarding timing of. 185 "jspaeth@cityofutica.com" (3258531584) 00:18:07.889 --> 00:18:12.569 Starting the project are completing certain phases because the big issue is. 186 "jspaeth@cityofutica.com" (3258531584) 00:18:12.569 --> 00:18:19.949 When you go to a lender, that kind of say, right? Oh, wait a minute. Where's our position here with this? Right? 187 "jspaeth@cityofutica.com" (3258531584) 00:18:19.949 --> 00:18:27.659 So, that's what we're talking about, getting in the weeds too much. So we work out a tidal insurance space to the river. Basically that's the canal Corporation for. 188 "jspaeth@cityofutica.com" (3258531584) 00:18:27.659 --> 00:18:31.679 Um, Dominic says the concern, I guess, is. 189 "jspaeth@cityofutica.com" (3258531584) 00:18:31.679 --> 00:18:42.269 From the canal Corp side is keeping the project on development schedule so it's not just banking land right now, but we're the development core wants to see the project develop, which is. 190 "jspaeth@cityofutica.com" (3258531584) 00:18:42.269 --> 00:18:51.749 So, we proposed a development agreement that would address those timelines. 191 "jspaeth@cityofutica.com" (3258531584) 00:18:51.749 --> 00:18:54.929 And ideally, you know, address with the. 192 "jspaeth@cityofutica.com" (3258531584) 00:18:54.929 --> 00:18:58.859 Uh, development for board was concerned about while still giving our vendors. 193 "jspaeth@cityofutica.com" (3258531584) 00:18:58.859 --> 00:19:05.549 Prospective vendors from retention, so, as I say, I, I've proposed that and we're waiting for. 194 "jspaeth@cityofutica.com" (3258531584) 00:19:06.204 --> 00:19:20.274 Comments from the development course, and what we proposed was what was sent out by mayor's office correct? But what they were, they send it out to us that can you live with that? And we said, okay, fine. 195 "jspaeth@cityofutica.com" (3258531584) 00:19:20.609 --> 00:19:27.899 I thought it was 1 we've talked about, but anyways, you know, in the meetings about 2 years or 2 a half years. Yeah. 196 "jspaeth@cityofutica.com" (3258531584) 00:19:27.899 --> 00:19:34.169 So, it's really not anything different than what we've been speaking about. I haven't seen your agreement so. 197 "jspaeth@cityofutica.com" (3258531584) 00:19:34.169 --> 00:19:37.379 I think that's where we need to figure that out. So. 198 "jspaeth@cityofutica.com" (3258531584) 00:19:37.379 --> 00:19:40.799 Between Harris beats and your group. 199 "jspaeth@cityofutica.com" (3258531584) 00:19:40.799 --> 00:19:43.919 Accepting the terms that we've already provided. 200 "jspaeth@cityofutica.com" (3258531584) 00:19:43.919 --> 00:19:51.479 To try to meet your goals, right? Well, I haven't seen it. So, I mean, in a few. 201 "jspaeth@cityofutica.com" (3258531584) 00:19:51.479 --> 00:19:54.569 Wanted to copy me on those emails when you send them out. 202 "jspaeth@cityofutica.com" (3258531584) 00:19:55.679 --> 00:20:04.829 I know, and That'll cut down on. He said, she said stuff that's driving everybody. That's right. So you send it to me when you send it to them, then. 203 "jspaeth@cityofutica.com" (3258531584) 00:20:04.829 --> 00:20:09.269 I'll read it and make sure they're working on it. So. 204 "jspaeth@cityofutica.com" (3258531584) 00:20:09.269 --> 00:20:13.349 Yeah. 205 "jspaeth@cityofutica.com" (3258531584) 00:20:13.349 --> 00:20:19.499 I can do that. I, I have some questions on the. 206 "jspaeth@cityofutica.com" (3258531584) 00:20:19.499 --> 00:20:29.639 The construction itself, and I'm not anywhere near as far as you can hit on this bill. I'm hoping you can not either. 207 "jspaeth@cityofutica.com" (3258531584) 00:20:29.639 --> 00:20:38.279 Well, I am. 208 "jspaeth@cityofutica.com" (3258531584) 00:20:38.279 --> 00:20:41.879 Well, it looks like it's going to cost 50Million dollars. 209 "jspaeth@cityofutica.com" (3258531584) 00:20:41.879 --> 00:20:44.939 Right. 210 "jspaeth@cityofutica.com" (3258531584) 00:20:44.939 --> 00:20:50.729 What's that? Right? Aren't we a little bit higher than more than that? The total project but. 211 "jspaeth@cityofutica.com" (3258531584) 00:20:50.729 --> 00:20:55.049 Isn't it? Okay? 212 "jspaeth@cityofutica.com" (3258531584) 00:20:55.049 --> 00:20:58.559 And then the sales, so I'm assuming that. 213 "jspaeth@cityofutica.com" (3258531584) 00:20:58.559 --> 00:21:03.059 Do this it, it's material and labor. Mm. Hmm. Right. 214 "jspaeth@cityofutica.com" (3258531584) 00:21:03.059 --> 00:21:10.049 You're going to spend 50Million dollars and it looks like 25Million is going to be materials. 215 "jspaeth@cityofutica.com" (3258531584) 00:21:10.049 --> 00:21:15.899 That's that's what you're going to buy concrete slabs right? 216 "jspaeth@cityofutica.com" (3258531584) 00:21:15.899 --> 00:21:20.159 So that leaves 25Million that you're gonna spend. 217 "jspaeth@cityofutica.com" (3258531584) 00:21:20.159 --> 00:21:27.389 In labor well, not necessarily. So the 25Million is the sales taxable portion of it. Okay. 218 "jspaeth@cityofutica.com" (3258531584) 00:21:27.389 --> 00:21:32.999 The rest of it is everything else. It's either labor or otherwise not subject discuss. 219 "jspaeth@cityofutica.com" (3258531584) 00:21:32.999 --> 00:21:39.089 Okay, what what material wouldn't be subject to sales tax? I I don't know. We'd have to talk to the construction that. 220 "jspaeth@cityofutica.com" (3258531584) 00:21:39.089 --> 00:21:47.789 Came up with those 2 years. Okay. But but if we accept 25Million is the material cost, right? And it's 25Million left. 221 "jspaeth@cityofutica.com" (3258531584) 00:21:47.789 --> 00:21:54.959 Like, what's your labor costs? Are not quite 5Million a year for 3 years. 222 "jspaeth@cityofutica.com" (3258531584) 00:21:57.689 --> 00:22:01.109 Right. So that's 59. 223 "jspaeth@cityofutica.com" (3258531584) 00:22:02.279 --> 00:22:08.609 If a client would be the right? Well, the, the, the, the 1st application. 224 "jspaeth@cityofutica.com" (3258531584) 00:22:08.609 --> 00:22:13.859 Was 45Million dollars in labor your original application said. 225 "jspaeth@cityofutica.com" (3258531584) 00:22:13.859 --> 00:22:17.309 300 jobs for 3 years. 226 "jspaeth@cityofutica.com" (3258531584) 00:22:17.309 --> 00:22:26.579 Well, right, and that wasn't that was, I guess, my mistake in filling out the forum, because that was supposed to be the total for the total course of the project. 227 "jspaeth@cityofutica.com" (3258531584) 00:22:26.579 --> 00:22:33.419 Yeah, I, I, I can see 60 guys on the job at any 1 time. 228 "jspaeth@cityofutica.com" (3258531584) 00:22:33.419 --> 00:22:37.019 Right, but but not 300 dollars. 229 "jspaeth@cityofutica.com" (3258531584) 00:22:37.019 --> 00:22:40.139 So that's 50 is probably a better finger. 230 "jspaeth@cityofutica.com" (3258531584) 00:22:40.139 --> 00:22:43.349 Yeah, 60 the estimate estimate. 231 "jspaeth@cityofutica.com" (3258531584) 00:22:43.349 --> 00:22:48.569 Or, if you had this, isn't this just kind of a fiction, right? Because you don't have. 232 "jspaeth@cityofutica.com" (3258531584) 00:22:48.569 --> 00:22:56.069 It's not like a factory where you have 60 employees coming in right? Right? Construction. Yep. So that's the best of it. 233 "jspaeth@cityofutica.com" (3258531584) 00:22:56.069 --> 00:23:00.839 Full time equivalent, construction workers over the course. 234 "jspaeth@cityofutica.com" (3258531584) 00:23:00.839 --> 00:23:07.829 Yeah, I mean, you have the excavating and iron worker and concrete guys and then. 235 "jspaeth@cityofutica.com" (3258531584) 00:23:07.829 --> 00:23:11.969 Hey, each other, so if there is. 236 "jspaeth@cityofutica.com" (3258531584) 00:23:11.969 --> 00:23:18.329 If these figures are acceptable that comes up to 15Million dollars, it's slightly less. 237 "jspaeth@cityofutica.com" (3258531584) 00:23:18.329 --> 00:23:22.979 Okay, so 15 and 25 is 40. 238 "jspaeth@cityofutica.com" (3258531584) 00:23:22.979 --> 00:23:31.469 Okay, so I have 10Million dollars worth of confusion is the hotel in the apartment. 239 "jspaeth@cityofutica.com" (3258531584) 00:23:31.469 --> 00:23:42.749 Both in our numbers. Yeah. Okay. So what numbers did we I understand what you're saying. So, let's kind of clarify that now. Okay. We, we re, adjusted our numbers and our last response. 240 "jspaeth@cityofutica.com" (3258531584) 00:23:42.749 --> 00:23:57.299 In this board, so in those numbers, let's forget about the numbers from the 1st response because your letter stated that we quoted 50, but something that takes me and there was some variables that weren't added up for you. So let's go back to where we are today. 241 "jspaeth@cityofutica.com" (3258531584) 00:23:57.299 --> 00:24:00.479 Our projections on this project for the hotel. 242 "jspaeth@cityofutica.com" (3258531584) 00:24:00.479 --> 00:24:05.939 And the 240 units, what did we put in our application to you? Because I haven't seen it. 243 "jspaeth@cityofutica.com" (3258531584) 00:24:05.939 --> 00:24:10.889 I don't have the total project costs like, 63. yeah, there we go. 244 "jspaeth@cityofutica.com" (3258531584) 00:24:10.889 --> 00:24:16.709 We quote the 63Million in there. Yep. Okay. And we have 1. 245 "jspaeth@cityofutica.com" (3258531584) 00:24:17.789 --> 00:24:21.389 That's the estimated sales tax and reinforcement of the product. 246 "jspaeth@cityofutica.com" (3258531584) 00:24:21.389 --> 00:24:27.869 The 25Million so now what you're saying is the construction jobs don't add up. 247 "jspaeth@cityofutica.com" (3258531584) 00:24:27.869 --> 00:24:31.799 And you're looking for the missing component of the dollars. 248 "jspaeth@cityofutica.com" (3258531584) 00:24:31.799 --> 00:24:41.999 So, we need to be able to explain that to them at this moment. Right right now, if we're saying 25 and 15 and labor is 40 Where's the other 24Million dollars? 249 "jspaeth@cityofutica.com" (3258531584) 00:24:41.999 --> 00:24:46.829 You know, Where's the other what you're saying? It's 20Million we're missing. I'm starting at 50. 250 "jspaeth@cityofutica.com" (3258531584) 00:24:46.829 --> 00:24:57.839 50,000 for the construction or 50005950Million. Okay, so we're missing 10Million dollars? Yeah. Are we saying that there's 10Million dollars in non taxable and non labor? 251 "jspaeth@cityofutica.com" (3258531584) 00:24:57.839 --> 00:25:01.559 Cost is that this is all that. 252 "jspaeth@cityofutica.com" (3258531584) 00:25:02.879 --> 00:25:10.049 These all estimates when we do a project, I mean, I'm just saying that we gotta put something in here that says. 253 "jspaeth@cityofutica.com" (3258531584) 00:25:10.049 --> 00:25:13.559 That's what I'm saying. What do we think is 1. 254 "jspaeth@cityofutica.com" (3258531584) 00:25:13.559 --> 00:25:24.869 Now, I have put down here, we are put down 64Million that we're coming out with the 64Million dollars with Lam for development costs, which would be blank. Is. 255 "jspaeth@cityofutica.com" (3258531584) 00:25:24.869 --> 00:25:28.199 Construction material costs and stuff and labor cost. 256 "jspaeth@cityofutica.com" (3258531584) 00:25:28.199 --> 00:25:32.669 So, all that is there, I think, uh, look at it here. 257 "jspaeth@cityofutica.com" (3258531584) 00:25:32.669 --> 00:25:39.629 The total project cost is 15Million dollars of construction of the building, right? So that construction we are saying is. 258 "jspaeth@cityofutica.com" (3258531584) 00:25:39.629 --> 00:25:43.199 25Million dollars. 259 "jspaeth@cityofutica.com" (3258531584) 00:25:43.199 --> 00:25:56.514 25, no, I mean, it might be the application I don't know. I mean exactly how the 1st application probably came up like that. Right? Roughly they made a different error or whatever it was. 260 "jspaeth@cityofutica.com" (3258531584) 00:25:56.514 --> 00:26:01.944 But well, let's start with the 1.8Million dollars in acquisition costs. 1st, brings us. costs first brings us 261 "jspaeth@cityofutica.com" (3258531584) 00:26:02.369 --> 00:26:12.689 Almost 2Million closer now we're missing 8Million. So, Andy, if you have site costs and soft costs in their legal fees development costs, and are separated. 262 "jspaeth@cityofutica.com" (3258531584) 00:26:12.689 --> 00:26:16.859 They're already there, they're on desperate. So that's in the. 263 "jspaeth@cityofutica.com" (3258531584) 00:26:16.859 --> 00:26:21.419 Projections already for the cost of the construction. 264 "jspaeth@cityofutica.com" (3258531584) 00:26:21.419 --> 00:26:28.229 See, if we got to break down these numbers and explain them did you talk in the hotel in the apartments? Right? 265 "jspaeth@cityofutica.com" (3258531584) 00:26:28.229 --> 00:26:36.089 We're talking hotel and departments. Do you know the breakdown between the I mean, we are estimating right now that is going to be a problem. 266 "jspaeth@cityofutica.com" (3258531584) 00:26:36.089 --> 00:26:43.349 1718Million dollar total project cost hold on. We know that. I mean, we've done enough with us to know that. 267 "jspaeth@cityofutica.com" (3258531584) 00:26:43.349 --> 00:26:48.149 The rest of the department. Okay. And that's the buy that. 268 "jspaeth@cityofutica.com" (3258531584) 00:26:48.149 --> 00:27:01.529 We don't know that that's the 1 that we have to show the the 17. I know. What took you from 50 to 63 was adding the hotel in there, right? Okay. No, no, no, no, no, no. 269 "jspaeth@cityofutica.com" (3258531584) 00:27:01.529 --> 00:27:04.799 Uh, 1, what we are saying is that that. 270 "jspaeth@cityofutica.com" (3258531584) 00:27:04.799 --> 00:27:08.579 63 broke everything. Mm. Hmm. Right. 271 "3157****70" (3660409600) 00:27:08.579 --> 00:27:20.339 Excuse me? Are you looking at page 24 of their revised application 48Million? Oh, we're going to. Gotcha. 272 "jspaeth@cityofutica.com" (3258531584) 00:27:20.339 --> 00:27:25.559 So page 24. Linda yeah. It, that's where they. 273 "3157****70" (3660409600) 00:27:25.559 --> 00:27:31.139 Kind of set forth, but it's not broken down in the detail that you're asking. Maybe. 274 "3157****70" (3660409600) 00:27:31.139 --> 00:27:35.069 That's where we can start cause that that adds up to the 63. 275 "jspaeth@cityofutica.com" (3258531584) 00:27:36.179 --> 00:27:41.819 All right, so you got a total of new construction about 50,000,000. 276 "jspaeth@cityofutica.com" (3258531584) 00:27:41.819 --> 00:27:45.329 All right bye. Yeah right. 277 "jspaeth@cityofutica.com" (3258531584) 00:27:45.329 --> 00:27:50.819 Yeah, and then you got friends yeah, furniture and or machinery equipment. She got another. 278 "jspaeth@cityofutica.com" (3258531584) 00:27:50.819 --> 00:27:54.989 3Million, so that's 53Million then you got the rest of the stuff. 279 "jspaeth@cityofutica.com" (3258531584) 00:27:54.989 --> 00:27:59.489 So, baked into those figures, there's labor costs. 280 "jspaeth@cityofutica.com" (3258531584) 00:27:59.489 --> 00:28:05.159 All right, because the laborers and installation labor. 281 "jspaeth@cityofutica.com" (3258531584) 00:28:05.159 --> 00:28:09.269 Okay, and then we're estimating in the 1st, 3 years. 282 "jspaeth@cityofutica.com" (3258531584) 00:28:09.269 --> 00:28:13.199 And an estimate of 60 jobs, 60. 283 "jspaeth@cityofutica.com" (3258531584) 00:28:13.199 --> 00:28:18.539 After the construction jobs per year, and it works out to about 4.7000. 284 "jspaeth@cityofutica.com" (3258531584) 00:28:18.539 --> 00:28:21.569 In construction wages Yep. 285 "jspaeth@cityofutica.com" (3258531584) 00:28:21.569 --> 00:28:25.679 So, um. 286 "jspaeth@cityofutica.com" (3258531584) 00:28:34.649 --> 00:28:38.489 I don't know if that addresses the question or not, but that's. 287 "jspaeth@cityofutica.com" (3258531584) 00:28:38.489 --> 00:28:42.749 I mean, they estimate, could we have the labor cost a higher than what it is here? 288 "jspaeth@cityofutica.com" (3258531584) 00:28:42.749 --> 00:28:48.089 Right. So that's, you know, over the cork 5 times 730, we get better. 289 "jspaeth@cityofutica.com" (3258531584) 00:28:48.089 --> 00:28:53.219 Right better for anything, but we don't we when we say anything. 290 "jspaeth@cityofutica.com" (3258531584) 00:28:53.219 --> 00:29:01.469 You never when we're done many idea projects like, Jack knows that we, we always underestimate when he comes to asking for it. 291 "jspaeth@cityofutica.com" (3258531584) 00:29:01.469 --> 00:29:05.399 When you say that you're going to have more many people. 292 "jspaeth@cityofutica.com" (3258531584) 00:29:05.399 --> 00:29:14.129 The idea the government office is going to say, hey, you really had that many people or not, right? And you better to have left yeah. Application. All of it. 293 "jspaeth@cityofutica.com" (3258531584) 00:29:14.129 --> 00:29:18.689 Then you have more, you have more and then you come down and say. 294 "jspaeth@cityofutica.com" (3258531584) 00:29:18.689 --> 00:29:22.589 Hey, didn't do it now you already know what to do. 295 "jspaeth@cityofutica.com" (3258531584) 00:29:22.589 --> 00:29:25.589 So, on the on the on the worst case scenario. 296 "jspaeth@cityofutica.com" (3258531584) 00:29:25.589 --> 00:29:40.224 Fine, you always underestimate the number of employees I think they just wanted to add up. So, I don't know. I just focused on adding. That's probably why it's lower. I'm saying, like, probably cap the labor number. 297 "jspaeth@cityofutica.com" (3258531584) 00:29:40.734 --> 00:29:44.874 Maybe simpler doing addendums in the applications during the hotel. 298 "jspaeth@cityofutica.com" (3258531584) 00:29:45.179 --> 00:29:48.419 Cost and then the departments. 299 "jspaeth@cityofutica.com" (3258531584) 00:29:48.419 --> 00:29:56.159 Separately I know you understand our focus on that. 300 "jspaeth@cityofutica.com" (3258531584) 00:29:56.159 --> 00:30:01.889 Right, right so that's that's where we need to the best estimate. You can come up with. 301 "jspaeth@cityofutica.com" (3258531584) 00:30:01.889 --> 00:30:05.009 And and we, we just don't want to be. 302 "jspaeth@cityofutica.com" (3258531584) 00:30:05.009 --> 00:30:10.229 What do you like saying something? That's not true. Uh. 303 "jspaeth@cityofutica.com" (3258531584) 00:30:10.229 --> 00:30:17.009 In a way that comes down in later. Yeah, right. No, no, no, no, we is. Right. 304 "jspaeth@cityofutica.com" (3258531584) 00:30:17.009 --> 00:30:22.979 You are saying that it project now benefit for everybody with the lesser number right now. 305 "jspaeth@cityofutica.com" (3258531584) 00:30:22.979 --> 00:30:31.289 That's what we are saying, you know, you want to add number why you do add number and try to prove a benefit. 306 "jspaeth@cityofutica.com" (3258531584) 00:30:31.289 --> 00:30:37.289 Like, the job that going to be created a new 1 on 1 end of the day. 307 "jspaeth@cityofutica.com" (3258531584) 00:30:37.289 --> 00:30:41.369 We just have the construction people are going to work and the. 308 "jspaeth@cityofutica.com" (3258531584) 00:30:41.369 --> 00:30:44.609 Yeah, it's more everybody comes out happy. 309 "jspaeth@cityofutica.com" (3258531584) 00:30:44.609 --> 00:30:48.779 Is that number 2 projects that people are going to be screened? 310 "jspaeth@cityofutica.com" (3258531584) 00:30:48.779 --> 00:31:00.149 We don't want anybody to be screening their other say, hey, at the end of the day, when we said we will provide. Okay and that makes sense. 311 "jspaeth@cityofutica.com" (3258531584) 00:31:00.149 --> 00:31:08.939 But if you, if these numbers, 6, the 6, right then you're going to build a project for 40Million dollars. 312 "jspaeth@cityofutica.com" (3258531584) 00:31:08.939 --> 00:31:14.669 No, not good, right? 313 "jspaeth@cityofutica.com" (3258531584) 00:31:14.669 --> 00:31:18.419 No, no, no. Yeah. 314 "jspaeth@cityofutica.com" (3258531584) 00:31:18.419 --> 00:31:22.769 But chances are that this labor, and not on the team can see that. This is going to be higher. 315 "jspaeth@cityofutica.com" (3258531584) 00:31:22.769 --> 00:31:33.299 Once the completion date of the project. Well, 23rd, so what, when we went through these numbers guys what what it is? Like we have said, that's it. 316 "jspaeth@cityofutica.com" (3258531584) 00:31:33.299 --> 00:31:38.909 Year from now, the whole project 2039, our goal is not that. 317 "jspaeth@cityofutica.com" (3258531584) 00:31:38.909 --> 00:31:43.379 That's what we have put down on them. That's the idea applications and everything is. 318 "jspaeth@cityofutica.com" (3258531584) 00:31:43.379 --> 00:31:47.489 Our goal is to go in there. 319 "jspaeth@cityofutica.com" (3258531584) 00:31:48.719 --> 00:31:54.689 Right that's what we want to try. That's what you have been asked for all over those. So, isn't that 1 isn't that. 320 "jspaeth@cityofutica.com" (3258531584) 00:31:54.689 --> 00:32:02.399 What's thrown off the payroll the job if you're going to be have a project for 6 years and you're providing 3 years. 321 "jspaeth@cityofutica.com" (3258531584) 00:32:02.399 --> 00:32:06.899 Payroll, isn't that where the problem lines. 322 "jspaeth@cityofutica.com" (3258531584) 00:32:06.899 --> 00:32:10.589 You know, and I'm seeing the dollar amount stand for the labor. 323 "jspaeth@cityofutica.com" (3258531584) 00:32:10.589 --> 00:32:14.309 Dollar a month 10 for the labor total labor. 324 "jspaeth@cityofutica.com" (3258531584) 00:32:14.309 --> 00:32:17.669 Oh, you're like portal people employee. 325 "jspaeth@cityofutica.com" (3258531584) 00:32:17.669 --> 00:32:21.449 Right. I don't know. They yeah, we have 13Million in soft cost. 326 "jspaeth@cityofutica.com" (3258531584) 00:32:21.449 --> 00:32:29.699 I think we need to explain that. Right? So, isn't there 13Million? Basically you got a 50Million dollar in construction. 327 "jspaeth@cityofutica.com" (3258531584) 00:32:29.699 --> 00:32:35.069 Yeah, you got 13Million in basic costs for equipment for f. F. and E. 328 "jspaeth@cityofutica.com" (3258531584) 00:32:35.184 --> 00:32:45.474 Acquisition interest, if you add those, all up, that comes to another 13Million dollars so what we should be focusing on is the 50Million dollar breakdown. That's what we're saying. Right? 329 "jspaeth@cityofutica.com" (3258531584) 00:32:45.474 --> 00:32:54.654 And in the 50Million dollar breakdown, your and your question is, is you have 25Million in cost of, um. million in cost of um 330 "jspaeth@cityofutica.com" (3258531584) 00:32:55.229 --> 00:33:05.939 The, the, the materials, and you should have 25Million in labor, you're going to start backing out in 25, and you have to include the machinery and equipment and as well. 331 "jspaeth@cityofutica.com" (3258531584) 00:33:05.939 --> 00:33:13.019 Because there's a portion of those are going to be subject to sales deck. So what you really should be starting with. Okay. It's approximately 57Million dollars. 332 "jspaeth@cityofutica.com" (3258531584) 00:33:13.019 --> 00:33:19.049 Right that's the total of the construction you wrap up and machinery and equipment. 333 "jspaeth@cityofutica.com" (3258531584) 00:33:19.049 --> 00:33:24.719 And then we've estimated estimated that 25 dollars 1Million of that is going to be. 334 "jspaeth@cityofutica.com" (3258531584) 00:33:24.719 --> 00:33:27.899 Um, sales taxable. 335 "jspaeth@cityofutica.com" (3258531584) 00:33:27.899 --> 00:33:32.579 That's you know, that's an estimate, right? I mean, we're talking about. 336 "jspaeth@cityofutica.com" (3258531584) 00:33:32.579 --> 00:33:36.719 Some of the stuff we're talking about costs of things that are going to be purchased 6 years. Now. 337 "jspaeth@cityofutica.com" (3258531584) 00:33:38.549 --> 00:33:42.659 So, you back that out and you're left with 32Million dollars. 338 "jspaeth@cityofutica.com" (3258531584) 00:33:42.659 --> 00:33:46.409 Right, I see what you're saying. If you take your construction jobs. 339 "jspaeth@cityofutica.com" (3258531584) 00:33:46.409 --> 00:33:53.429 And estimate, 4.7 say, 5 a year over 70 years that's 35Million. That leaves you with a gap at 3,000,000. 340 "jspaeth@cityofutica.com" (3258531584) 00:33:53.429 --> 00:34:01.109 Right So where is that gap? The gap is the estimate we estimated perhaps the sales tax figure high. 341 "jspaeth@cityofutica.com" (3258531584) 00:34:01.109 --> 00:34:06.149 But I have to build it in 7 years or or 3 years. 342 "jspaeth@cityofutica.com" (3258531584) 00:34:06.149 --> 00:34:09.869 3 years is here, because that's your form, right? 343 "jspaeth@cityofutica.com" (3258531584) 00:34:09.869 --> 00:34:13.349 Right most most projects don't take more than 3 years. 344 "jspaeth@cityofutica.com" (3258531584) 00:34:13.349 --> 00:34:21.719 Okay, yeah, that's the only 3 year. 3 year. Look at. That's the that's the issue that I had frankly, is that the 3 years is. 345 "jspaeth@cityofutica.com" (3258531584) 00:34:21.719 --> 00:34:26.489 In the context of this project project somewhat arbitrary. Right? Because at that point. 346 "jspaeth@cityofutica.com" (3258531584) 00:34:26.489 --> 00:34:32.579 You know, hopefully will be done, but we may only be halfway through phase. 2 won't be completed in 3 years. 347 "jspaeth@cityofutica.com" (3258531584) 00:34:32.579 --> 00:34:36.929 I was just going to ask, I mean, is it possible? We just prove just in stages. 348 "jspaeth@cityofutica.com" (3258531584) 00:34:36.929 --> 00:34:42.539 If we don't know, you're not sure what your trigger points gonna be to go to the hotel. 349 "jspaeth@cityofutica.com" (3258531584) 00:34:42.539 --> 00:34:46.439 Right, I mean, what or maybe you can tell us what you're. 350 "jspaeth@cityofutica.com" (3258531584) 00:34:46.439 --> 00:34:51.629 I don't know, what do you need to see? There's probably not the way we're seeing it. Um. 351 "jspaeth@cityofutica.com" (3258531584) 00:34:51.629 --> 00:34:55.379 1st phase is trying to get the site size stabilized. 352 "jspaeth@cityofutica.com" (3258531584) 00:34:55.379 --> 00:34:59.129 Ready for construction the site is not really for construction. 353 "jspaeth@cityofutica.com" (3258531584) 00:34:59.129 --> 00:35:02.249 So, we're going to make this. 354 "jspaeth@cityofutica.com" (3258531584) 00:35:02.249 --> 00:35:06.389 It takes 6 months to here. What what is the name? 355 "jspaeth@cityofutica.com" (3258531584) 00:35:06.389 --> 00:35:16.709 They did refilling. Okay so you have to search ads, right? You mean? Just? Yeah. Sorry I just left the site did for 6 months. 356 "jspaeth@cityofutica.com" (3258531584) 00:35:16.709 --> 00:35:25.739 Your technical coming jacket all day they use the green line then we start the control. Well, pretty much we're waiting for liquid. 357 "jspaeth@cityofutica.com" (3258531584) 00:35:25.739 --> 00:35:31.109 And that would, like, will come anywhere from, by default, depending on how these things go. 358 "jspaeth@cityofutica.com" (3258531584) 00:35:31.109 --> 00:35:39.089 How soon we can acquire the property and start working on it, although it would be to work on it now and try to get this or just started. Now, it doesn't cost a lot to structure it. 359 "jspaeth@cityofutica.com" (3258531584) 00:35:39.089 --> 00:35:46.859 Is waiting okay so we don't care. I mean, we have enough confidence. Should they allow us? We'll probably start for sending. Now. We don't care. 360 "jspaeth@cityofutica.com" (3258531584) 00:35:46.859 --> 00:35:54.509 Spend our money on it. We have enough confidence in this stuff that we don't get it. We are fine with it. Just putting out this video. 361 "jspaeth@cityofutica.com" (3258531584) 00:35:54.509 --> 00:35:58.019 But the search that should happen by somebody. 362 "jspaeth@cityofutica.com" (3258531584) 00:35:58.019 --> 00:36:01.679 So, John is done that takes 6 months to a year. 363 "jspaeth@cityofutica.com" (3258531584) 00:36:01.679 --> 00:36:08.069 Yeah, I want that, but we feel like spring of next year around this time next year, we can break it up. 364 "jspaeth@cityofutica.com" (3258531584) 00:36:08.069 --> 00:36:11.609 The break ground on the hotel and the apartment is being. 365 "jspaeth@cityofutica.com" (3258531584) 00:36:14.009 --> 00:36:18.899 Break ground, I mean, a lot of hotels within. 366 "jspaeth@cityofutica.com" (3258531584) 00:36:18.899 --> 00:36:22.079 There's no, no, no. 367 "jspaeth@cityofutica.com" (3258531584) 00:36:22.079 --> 00:36:29.039 Now, in the hotel take longer, maybe no, no you run into somebody once in a while. 368 "jspaeth@cityofutica.com" (3258531584) 00:36:29.039 --> 00:36:32.879 Contractor or whatever it is, and be lazy, but. 369 "jspaeth@cityofutica.com" (3258531584) 00:36:32.879 --> 00:36:39.389 For it to get it done in the 3 day event no issue department. 370 "jspaeth@cityofutica.com" (3258531584) 00:36:39.389 --> 00:36:43.589 We started, we were originally going to start. 371 "jspaeth@cityofutica.com" (3258531584) 00:36:43.589 --> 00:36:48.779 With 1 trade at a time, and finished the whole project at this time but then that we can. 372 "jspaeth@cityofutica.com" (3258531584) 00:36:48.779 --> 00:36:52.799 An issue, so we said, okay, fine will do department at a time. 373 "jspaeth@cityofutica.com" (3258531584) 00:36:52.799 --> 00:37:01.889 That time then that's going to take some time. I don't know how long whatever date. I mean. 374 "jspaeth@cityofutica.com" (3258531584) 00:37:01.889 --> 00:37:06.599 So, not yet, but but we feel confident with the time we have given. 375 "jspaeth@cityofutica.com" (3258531584) 00:37:06.599 --> 00:37:09.809 The stage here, you're fine. 376 "jspaeth@cityofutica.com" (3258531584) 00:37:09.809 --> 00:37:13.289 Right, right. I, it will be done in. 377 "jspaeth@cityofutica.com" (3258531584) 00:37:13.289 --> 00:37:21.569 Because, for years, everything done in the 3 year timeframe potentially a very high. There'll be done. 378 "jspaeth@cityofutica.com" (3258531584) 00:37:22.709 --> 00:37:29.939 I don't know how that is still. Yeah, some of the confusion is really we're looking at 2 projects. 379 "jspaeth@cityofutica.com" (3258531584) 00:37:29.939 --> 00:37:36.329 Right the hotel as a project, and the environment is a project and if they're looking at 3. 380 "jspaeth@cityofutica.com" (3258531584) 00:37:36.329 --> 00:37:40.889 This phase 2, which is really phase. 2 will be the land behind the hotel. 381 "jspaeth@cityofutica.com" (3258531584) 00:37:40.889 --> 00:37:52.199 Into the east of the apartments, right could be another hotel or it could be a water park. So that's actually, you know, if you look at it that way but the 1st, 2, the hotel, it's a, it's a. 382 "jspaeth@cityofutica.com" (3258531584) 00:37:52.199 --> 00:38:06.174 It's an assumption, but the truth is that you're probably should use a year for site prep because the soils that North Florida are horrible. I mean, you dig down, you're gonna find coal, ash and water as soon as you dig 3 feet 4 feet. You know what I mean? 383 "jspaeth@cityofutica.com" (3258531584) 00:38:06.864 --> 00:38:12.174 So you need to prep those sites and and it's a major preparation. Then you build your apartments and your. 384 "jspaeth@cityofutica.com" (3258531584) 00:38:12.199 --> 00:38:17.070 Hotel, let's just say we get that phase completed in 3 years, which is a fair estimate. 385 "jspaeth@cityofutica.com" (3258531584) 00:38:17.070 --> 00:38:22.590 Okay, to come through the site work, which is 6 months to a year 2 years worth of construction. 386 "jspaeth@cityofutica.com" (3258531584) 00:38:22.590 --> 00:38:33.570 That's a very fair estimate. You're not going to get to the 2nd hotel or the waterpark in that 3 year window. So what you're looking for, and it's kind of hard to do this. And. 387 "jspaeth@cityofutica.com" (3258531584) 00:38:33.570 --> 00:38:37.380 Proving it in phases, because then you would almost have to subdivide the property. 388 "jspaeth@cityofutica.com" (3258531584) 00:38:37.380 --> 00:38:41.580 Right. Um, so now you're looking for the numbers to add up. 389 "jspaeth@cityofutica.com" (3258531584) 00:38:41.580 --> 00:38:50.760 Right and so what we're saying is that 1, you can only give estimates because the cost of of everything is escalating monthly, let alone annually. 390 "jspaeth@cityofutica.com" (3258531584) 00:38:50.760 --> 00:38:54.630 But you still want the numbers to sorta get close to. 391 "jspaeth@cityofutica.com" (3258531584) 00:38:54.630 --> 00:38:59.220 Our estimates. Mm. Hmm. And if you look at our, our, our cost here. 392 "jspaeth@cityofutica.com" (3258531584) 00:38:59.220 --> 00:39:02.550 You feel there's sort of a, a comfort. 393 "jspaeth@cityofutica.com" (3258531584) 00:39:02.550 --> 00:39:11.730 Level for us to say that it might take a little bit longer than 3 years or there's a 10Million dollar discrepancy, but we're not making the discrepancy. 394 "jspaeth@cityofutica.com" (3258531584) 00:39:11.755 --> 00:39:26.695 On the sales tax portion of it, the discrepancy is in the construction costs today if we lowered the project cost to 50Million dollars or 53Million versus 63Million, it probably wouldn't matter to you. And the numbers would probably be closer. numbers would probably be closer 395 "jspaeth@cityofutica.com" (3258531584) 00:39:26.970 --> 00:39:32.100 Because if that that cushion might be a little bit too much for your pallet right now. 396 "jspaeth@cityofutica.com" (3258531584) 00:39:32.100 --> 00:39:37.800 But I think that's the way they were looking at it was they didn't want to quote numbers that they didn't meet numbers. 397 "jspaeth@cityofutica.com" (3258531584) 00:39:37.800 --> 00:39:45.420 And Andy always likes to underestimate things because he doesn't like to over promise and under deliver but. 398 "jspaeth@cityofutica.com" (3258531584) 00:39:45.420 --> 00:39:55.680 It's reasonable for your question to say, we just like the numbers to add up a little bit closer. So separate the project out more, uh, during our. 399 "jspaeth@cityofutica.com" (3258531584) 00:39:55.680 --> 00:39:59.070 And the reason for that is, we are trying to go. 400 "jspaeth@cityofutica.com" (3258531584) 00:39:59.070 --> 00:40:13.470 I, I simply did not understand the time. Yeah, so they the conversations kind of the way we are doing it all over. So what you're saying, you're going simultaneously or as close to that, you're going to get a hotel and you can do the departments. 401 "jspaeth@cityofutica.com" (3258531584) 00:40:13.470 --> 00:40:16.470 And simultaneously, we going to ask for investors to come. 402 "jspaeth@cityofutica.com" (3258531584) 00:40:16.470 --> 00:40:25.710 Like, people know the hotel part, but they're gonna have no choice, but to get into the apartment party, they're like, you only follow. 403 "jspaeth@cityofutica.com" (3258531584) 00:40:25.710 --> 00:40:33.030 Yeah, but that's a great statement. And that's the thing I think probably companies saying that that phase 2. 404 "jspaeth@cityofutica.com" (3258531584) 00:40:33.030 --> 00:40:37.230 We might go with that, or after this is approved. 405 "jspaeth@cityofutica.com" (3258531584) 00:40:37.230 --> 00:40:44.550 Right away. I'm waiting on the drawing board right now my goal is to get this approved right now. Idea. 406 "jspaeth@cityofutica.com" (3258531584) 00:40:44.550 --> 00:40:50.280 Go back to the drawing board, include the water parked in there and come with you guys again. 407 "jspaeth@cityofutica.com" (3258531584) 00:40:50.280 --> 00:40:58.200 Do we need to talk as a team though, Andy I mean, we're looking to do this project because you're looking to tax this. 408 "jspaeth@cityofutica.com" (3258531584) 00:40:58.225 --> 00:41:10.855 As 1, right no matter what you do into the phase 2. the only difference would be is if the reverse kicked in and you didn't complete it, they would come back and take the land and it's still be stuck with the the deal that you strike. Right? 409 "jspaeth@cityofutica.com" (3258531584) 00:41:10.855 --> 00:41:18.145 Now, for your pilot, on what you bill, so there's I don't see the purpose in coming back. They know that a phase 2. 410 "jspaeth@cityofutica.com" (3258531584) 00:41:18.200 --> 00:41:21.870 Is going to be either a hotel, a water park. 411 "jspaeth@cityofutica.com" (3258531584) 00:41:21.870 --> 00:41:27.840 Or worst case scenario, or revert, and you're taking the land back because they didn't do anything, which I don't see that happening. 412 "jspaeth@cityofutica.com" (3258531584) 00:41:27.840 --> 00:41:33.510 I think the focus is all on the numbers right now that number is the thing about it. 413 "jspaeth@cityofutica.com" (3258531584) 00:41:33.510 --> 00:41:40.410 That if you say, 51Billion dollars approximately or whatever it is, 25Million for materials, that's that. 414 "jspaeth@cityofutica.com" (3258531584) 00:41:40.410 --> 00:41:44.490 Peter estimate board and you are shown on 1. 415 "jspaeth@cityofutica.com" (3258531584) 00:41:44.490 --> 00:41:49.320 Then you got a problem to short. 416 "jspaeth@cityofutica.com" (3258531584) 00:41:49.320 --> 00:41:53.880 Labor then your major problems. 417 "jspaeth@cityofutica.com" (3258531584) 00:41:53.880 --> 00:41:57.030 Promise then you don't hire so many people that you did it. 418 "jspaeth@cityofutica.com" (3258531584) 00:41:57.030 --> 00:42:01.050 If you if I am sure a member to your call. 419 "jspaeth@cityofutica.com" (3258531584) 00:42:01.050 --> 00:42:04.230 I'm not going to get that out of that amount. 420 "jspaeth@cityofutica.com" (3258531584) 00:42:05.730 --> 00:42:12.540 Which is fine, I can only take this out of step up to 25Million dollars. 421 "jspaeth@cityofutica.com" (3258531584) 00:42:12.540 --> 00:42:17.850 Would it cost me more? It cost me more. We don't get this done today. 422 "jspaeth@cityofutica.com" (3258531584) 00:42:17.850 --> 00:42:23.910 And that's okay, but for the labor part, you don't have the number of people you promise. 423 "jspaeth@cityofutica.com" (3258531584) 00:42:23.910 --> 00:42:30.630 What I able to do it, but let's lower the date. I mean, if they have lower the labor number. 424 "jspaeth@cityofutica.com" (3258531584) 00:42:30.630 --> 00:42:34.380 1 of the reasons why we have. 425 "jspaeth@cityofutica.com" (3258531584) 00:42:34.380 --> 00:42:37.650 Or so that we don't run into an issue later. 426 "jspaeth@cityofutica.com" (3258531584) 00:42:39.150 --> 00:42:48.810 You have to do it that way otherwise, you know, you always we have done so many many ideas projects and Jack and milestones that we still. We use that number every year. 427 "jspaeth@cityofutica.com" (3258531584) 00:42:48.810 --> 00:42:55.560 For the employment numbers are what we have hired compared to what we put in the original applications is always been more. 428 "jspaeth@cityofutica.com" (3258531584) 00:42:55.560 --> 00:43:01.920 And ready done enough projects to say, we don't want that that number of lower. 429 "jspaeth@cityofutica.com" (3258531584) 00:43:04.740 --> 00:43:08.160 You know, just the big picture like, I. 430 "jspaeth@cityofutica.com" (3258531584) 00:43:08.160 --> 00:43:16.350 The numbers, I don't think are going to be any lower than they are here right? In terms of cost and so on. So, the investment is being made into the project. 431 "jspaeth@cityofutica.com" (3258531584) 00:43:16.350 --> 00:43:20.250 I mean, I don't know, but I can't see it being any less than this. 432 "jspaeth@cityofutica.com" (3258531584) 00:43:20.250 --> 00:43:27.360 Right the jobs are hotel, the 8 committed jobs for the project are the hotel jobs and, I mean. 433 "jspaeth@cityofutica.com" (3258531584) 00:43:27.360 --> 00:43:36.960 A low estimate, and, you know, there won't be any problem with that. And if there is, you know, you have recapture agreement that work and act on it if it feels necessary. 434 "jspaeth@cityofutica.com" (3258531584) 00:43:36.960 --> 00:43:40.620 The construction jobs I discussed this with our. 435 "jspaeth@cityofutica.com" (3258531584) 00:43:40.620 --> 00:43:45.600 Construction manager yesterday, I mean, that 60 is probably. 436 "jspaeth@cityofutica.com" (3258531584) 00:43:45.600 --> 00:43:49.740 A conservative figure, right? The, um. 437 "jspaeth@cityofutica.com" (3258531584) 00:43:49.740 --> 00:43:53.910 The consultant we had to our benefit cost analysis 8 at 75. 438 "jspaeth@cityofutica.com" (3258531584) 00:43:53.910 --> 00:44:00.360 So, you know, so, I think from just taking a big picture from this board's perspective, I mean. 439 "jspaeth@cityofutica.com" (3258531584) 00:44:00.360 --> 00:44:10.200 You know, you're looking at, is the project going to meet a need in the community? I think that we've demonstrated that the cities on how things in terms of that. 440 "jspaeth@cityofutica.com" (3258531584) 00:44:10.200 --> 00:44:16.680 You know, is there gonna be an academic investment? I mean, I think that's pretty clear. Is there gonna be some job creation component. 441 "jspaeth@cityofutica.com" (3258531584) 00:44:16.680 --> 00:44:20.340 Yes, and you know, that's going to be committed to. 442 "jspaeth@cityofutica.com" (3258531584) 00:44:20.340 --> 00:44:23.790 Like, it is with every guy E project. 443 "jspaeth@cityofutica.com" (3258531584) 00:44:23.790 --> 00:44:29.130 So, you know, and stepping back and taking it, you know, a higher level view of it. 444 "jspaeth@cityofutica.com" (3258531584) 00:44:29.130 --> 00:44:33.630 I think that it's a, the type of project that. 445 "jspaeth@cityofutica.com" (3258531584) 00:44:33.630 --> 00:44:37.740 Is a portal and. 446 "jspaeth@cityofutica.com" (3258531584) 00:44:37.740 --> 00:44:42.600 As we've said, you know, without the assistants, particularly. 447 "jspaeth@cityofutica.com" (3258531584) 00:44:42.600 --> 00:44:47.700 You know, the committed pilots throughout the term of the project, you know. 448 "jspaeth@cityofutica.com" (3258531584) 00:44:47.700 --> 00:44:51.600 Yeah, financing and equity finances. Would that be. 449 "jspaeth@cityofutica.com" (3258531584) 00:44:51.600 --> 00:44:54.930 Very difficult. It's not about. 450 "jspaeth@cityofutica.com" (3258531584) 00:44:57.150 --> 00:45:02.610 Oh, that's the last thing we haven't discussed is the, the length of the. 451 "jspaeth@cityofutica.com" (3258531584) 00:45:02.610 --> 00:45:05.820 The pilot goes well, beyond. 452 "jspaeth@cityofutica.com" (3258531584) 00:45:05.820 --> 00:45:12.360 Uh, the standards, yeah, you can offer I mean, we've done deviations, but. 453 "jspaeth@cityofutica.com" (3258531584) 00:45:12.360 --> 00:45:22.350 30 years is significant now, there is precedent of what we did with the hotel. We tried to follow that concept right? We had. 454 "jspaeth@cityofutica.com" (3258531584) 00:45:22.350 --> 00:45:29.580 2 hotels, downtown that had extended pilots, right? The hotel Utica and when the Sheridan was. 455 "jspaeth@cityofutica.com" (3258531584) 00:45:29.580 --> 00:45:33.450 Constructed and did this project is, you know. 456 "jspaeth@cityofutica.com" (3258531584) 00:45:33.450 --> 00:45:36.660 And, like, the cost of this, this project. 457 "jspaeth@cityofutica.com" (3258531584) 00:45:36.660 --> 00:45:40.650 The team from before. 458 "jspaeth@cityofutica.com" (3258531584) 00:45:40.650 --> 00:45:43.800 Before when we have the idea of approval. 459 "jspaeth@cityofutica.com" (3258531584) 00:45:43.800 --> 00:45:51.300 You are not required to fill in right now you are you are going to be hiring this whole project on a family. 460 "jspaeth@cityofutica.com" (3258531584) 00:45:51.300 --> 00:45:56.430 It's gonna be very expensive. We do find that on this side. It's. 461 "jspaeth@cityofutica.com" (3258531584) 00:45:56.430 --> 00:46:04.500 Would it be we'll be waiting is this 1 and that's where that's where we want to extend the right or investors. 462 "jspaeth@cityofutica.com" (3258531584) 00:46:04.500 --> 00:46:10.980 Is that we have that benefit that that was 1 of listed by cost? That is. 463 "jspaeth@cityofutica.com" (3258531584) 00:46:12.090 --> 00:46:19.440 What do you think that's going to cost you on this project? The prevailing wage? Oh, well, I don't know. I can't even guess when I asked, uh. 464 "jspaeth@cityofutica.com" (3258531584) 00:46:19.440 --> 00:46:26.760 The electrical contractor I ask that I told them there's on board chart right? It's not a building job. 465 "jspaeth@cityofutica.com" (3258531584) 00:46:26.760 --> 00:46:31.260 You will have almost 35 to 40% of. 466 "jspaeth@cityofutica.com" (3258531584) 00:46:31.260 --> 00:46:40.110 That big big number that's now in 2023 right? We don't know. 2000. 467 "jspaeth@cityofutica.com" (3258531584) 00:46:40.110 --> 00:46:47.460 26 or 27 is it? This is not an easy project for us and then the site itself has a lot of. 468 "jspaeth@cityofutica.com" (3258531584) 00:46:47.460 --> 00:46:52.830 That was there was things that, beyond this that I don't know if anybody in the board was aware of, but. 469 "jspaeth@cityofutica.com" (3258531584) 00:46:52.830 --> 00:46:58.950 You are aware of that a lot of things that was promised on this side when it comes to city, or take money. 470 "jspaeth@cityofutica.com" (3258531584) 00:46:58.950 --> 00:47:04.380 Coming in for the site work well, with like, a 3Million dollar site work. 471 "jspaeth@cityofutica.com" (3258531584) 00:47:04.380 --> 00:47:07.770 Going to be done for us, and then we are taking over the site. 472 "jspaeth@cityofutica.com" (3258531584) 00:47:07.770 --> 00:47:12.870 We are doing that now, but there are the things that are on this project that we are spending. 473 "jspaeth@cityofutica.com" (3258531584) 00:47:12.870 --> 00:47:17.700 That is above and beyond what we were originally. 474 "jspaeth@cityofutica.com" (3258531584) 00:47:17.700 --> 00:47:22.380 That's where we extended the pilot. That's what they need. The extra pilot. 475 "jspaeth@cityofutica.com" (3258531584) 00:47:22.380 --> 00:47:30.720 And we were always told that, yeah, we can take care of that and try to take care of that. That's the message we have. And that's why we have put in there. 476 "jspaeth@cityofutica.com" (3258531584) 00:47:34.200 --> 00:47:39.030 Like I said at the outside, the site is not, you know, this isn't a. 477 "jspaeth@cityofutica.com" (3258531584) 00:47:39.030 --> 00:47:46.260 Development on, you know, an old farmers field in place. Right? I mean, this has more. 478 "jspaeth@cityofutica.com" (3258531584) 00:47:46.260 --> 00:47:49.710 It says more different layers of challenges do it than any. 479 "jspaeth@cityofutica.com" (3258531584) 00:47:49.710 --> 00:47:57.210 I never really been brown field. 480 "jspaeth@cityofutica.com" (3258531584) 00:47:57.210 --> 00:48:02.460 Fun but it's challenging. Is there something in writing. 481 "3157****70" (3660409600) 00:48:02.460 --> 00:48:12.210 Between you and the city where it set forth, what it is, you've agreed to do that originally the city was going to do and now you're doing. 482 "3157****70" (3660409600) 00:48:12.210 --> 00:48:20.820 Is there any, is there any list of that of, of what you've undertaken that originally? You were not going to do. 483 "jspaeth@cityofutica.com" (3258531584) 00:48:22.770 --> 00:48:28.650 Well, there's 4 years worth of meetings with the idea if they kept minutes, but there's nothing in writing Linda. 484 "jspaeth@cityofutica.com" (3258531584) 00:48:28.650 --> 00:48:32.910 Uh, there's the application, I mean, I, with the idea with the. 485 "jspaeth@cityofutica.com" (3258531584) 00:48:32.910 --> 00:48:41.400 Um, I think there's an application state for it that we got rejected. I think maybe, but you'd have to go to the to get that data. 486 "jspaeth@cityofutica.com" (3258531584) 00:48:41.400 --> 00:48:45.090 But that's how long. 487 "3157****70" (3660409600) 00:48:45.090 --> 00:48:50.280 What I'm thinking is, you know, 1 of the issues here is that it's such a. 488 "3157****70" (3660409600) 00:48:50.280 --> 00:48:53.670 Huge deviation from what we generally done. 489 "3157****70" (3660409600) 00:48:53.670 --> 00:48:59.610 And if, in fact, there's a whole lot of commitment that. 490 "3157****70" (3660409600) 00:48:59.610 --> 00:49:03.060 Are made with respect to doing the infrastructure. 491 "3157****70" (3660409600) 00:49:03.060 --> 00:49:08.160 That originally was going to be done by the municipality, but now you're doing it. 492 "3157****70" (3660409600) 00:49:08.160 --> 00:49:17.220 It would seem that that would be a distinguishing factor, but the idea is not aware of what you've undertaken to do. 493 "jspaeth@cityofutica.com" (3258531584) 00:49:18.415 --> 00:49:29.395 Along those lines and I'm, I'm not saying that in a negative way, let me just let Linda know this, but it's not a negative way, but when we initially started these conversations, 494 "jspaeth@cityofutica.com" (3258531584) 00:49:29.815 --> 00:49:35.335 the site prep was going to be substantially higher quality and ready for construction. 495 "jspaeth@cityofutica.com" (3258531584) 00:49:35.640 --> 00:49:40.650 Um, there was going to be city roads and infrastructure in place. 496 "jspaeth@cityofutica.com" (3258531584) 00:49:40.650 --> 00:49:44.220 And now we're taking the site as is. 497 "jspaeth@cityofutica.com" (3258531584) 00:49:44.220 --> 00:49:48.240 I personally project that to be the 4 to 5Million dollar cost. 498 "jspaeth@cityofutica.com" (3258531584) 00:49:48.240 --> 00:49:54.150 In the big picture of things now, the state, I mean, you'll get an application that. 499 "jspaeth@cityofutica.com" (3258531584) 00:49:54.150 --> 00:50:00.600 dominic's correct that was 1 of the bigger the Masterplan costs for a circular road to be put in with utilities that would serve. 500 "jspaeth@cityofutica.com" (3258531584) 00:50:00.600 --> 00:50:04.740 All the housing, and then the yes, the buildings that are to be built. 501 "3157****70" (3660409600) 00:50:04.740 --> 00:50:11.730 The city is not putting that there is that information contained in any of the application materials. 502 "jspaeth@cityofutica.com" (3258531584) 00:50:11.730 --> 00:50:19.470 Yes, yes in the application no, no. Okay. 503 "3157****70" (3660409600) 00:50:19.470 --> 00:50:22.650 No, that's my question the. 504 "jspaeth@cityofutica.com" (3258531584) 00:50:22.650 --> 00:50:31.230 Right, yes, so that's that's the 4 to 5Million dollars of additional costs to this project from the day we started to today. Yeah. Mm. Hmm. 505 "jspaeth@cityofutica.com" (3258531584) 00:50:35.490 --> 00:50:39.480 Uh, I mean. 506 "jspaeth@cityofutica.com" (3258531584) 00:50:39.480 --> 00:50:45.480 I apologize, but let me get this clear. So, is there going to be the requirements in 1? 507 "jspaeth@cityofutica.com" (3258531584) 00:50:45.480 --> 00:50:49.890 Okay, when we're looking at the apartment and all that. Sorry? 508 "jspaeth@cityofutica.com" (3258531584) 00:50:49.890 --> 00:50:52.950 And then basically, there could be a 2nd hotel. 509 "jspaeth@cityofutica.com" (3258531584) 00:50:52.950 --> 00:50:56.550 Hotel or whatever. Yeah. 510 "jspaeth@cityofutica.com" (3258531584) 00:50:56.550 --> 00:51:09.600 And what about whatever it is that phase 2 on a different parts of the land? No, in this part of the land, we end up doing it. We can show you. It's like, we should show you a type. Okay. But what does anyone have access to that? 511 "jspaeth@cityofutica.com" (3258531584) 00:51:09.600 --> 00:51:16.920 We'll show you the area that we call phase 2, right? So you can get comfortable understanding. 512 "jspaeth@cityofutica.com" (3258531584) 00:51:16.920 --> 00:51:22.290 Um, what we're talking about, right phase 2 would essentially be tax free. 513 "jspaeth@cityofutica.com" (3258531584) 00:51:22.290 --> 00:51:28.410 Well, phase 2 is included in this price, so There'll be additional dollars spent, but include it in. 514 "jspaeth@cityofutica.com" (3258531584) 00:51:28.410 --> 00:51:40.860 This taxable event right now for the entire part yes. The land work, right? Yes. Yeah. So, and if we threw phase 2 estimates in there, you're probably talking another. 515 "jspaeth@cityofutica.com" (3258531584) 00:51:40.860 --> 00:51:48.330 17 to 40Million dollars of investment into the project if we use those numbers. 516 "jspaeth@cityofutica.com" (3258531584) 00:51:48.330 --> 00:51:52.740 But again since there is a, and. 517 "jspaeth@cityofutica.com" (3258531584) 00:51:52.740 --> 00:52:02.100 You know what I mean that you can't throw those numbers out there. Today. It never gets there. You're taking the land back. Well, the, the well, it's a little dated, but. 518 "jspaeth@cityofutica.com" (3258531584) 00:52:02.100 --> 00:52:05.640 Once you put it right on the TV damage. Yeah. That'll help him. 519 "jspaeth@cityofutica.com" (3258531584) 00:52:07.110 --> 00:52:10.950 So, if you look at this, everything. 520 "3157****70" (3660409600) 00:52:10.950 --> 00:52:17.610 If everything goes is planned, and you don't run into any major obstacles when. 521 "3157****70" (3660409600) 00:52:17.610 --> 00:52:20.640 Would you expect you would build the water park? 522 "3157****70" (3660409600) 00:52:20.640 --> 00:52:26.280 Or hotel, whatever it's going to be we've got to do it next spring. 523 "jspaeth@cityofutica.com" (3258531584) 00:52:26.280 --> 00:52:30.900 No, not the 1 after the completion of phase 1. 524 "jspaeth@cityofutica.com" (3258531584) 00:52:30.900 --> 00:52:39.090 I can't imagine it's going to stay may start a little bit sooner, but we have to get into the construction of phase 1 and then therefore, this application. 525 "jspaeth@cityofutica.com" (3258531584) 00:52:39.090 --> 00:52:43.770 I needed the application approved my personal. 526 "jspaeth@cityofutica.com" (3258531584) 00:52:43.770 --> 00:52:49.770 Right and this is just my relation with the mayor of the city. 527 "jspaeth@cityofutica.com" (3258531584) 00:52:49.770 --> 00:52:53.370 Right. I want to go back because this is a broad. 528 "jspaeth@cityofutica.com" (3258531584) 00:52:53.370 --> 00:52:56.460 I'm going to go back to my group. 529 "jspaeth@cityofutica.com" (3258531584) 00:52:56.460 --> 00:53:02.010 And I'm going to ask them to do the waterpark design right now. 530 "jspaeth@cityofutica.com" (3258531584) 00:53:03.060 --> 00:53:07.920 I'm back to you guys for additional benefits. 531 "jspaeth@cityofutica.com" (3258531584) 00:53:07.920 --> 00:53:11.700 Whatever I need if I need it for the watermark Eddie. 532 "jspaeth@cityofutica.com" (3258531584) 00:53:11.700 --> 00:53:22.650 On this project no, no, I'm really sorry. Right Margaret Margaret whatever it is find whatever we want to start that. 533 "jspaeth@cityofutica.com" (3258531584) 00:53:22.650 --> 00:53:26.190 My thinking is my wish, right? 534 "jspaeth@cityofutica.com" (3258531584) 00:53:27.270 --> 00:53:33.810 And never away, I think it's the city deserted hour. I don't know how long I'll leave. 535 "jspaeth@cityofutica.com" (3258531584) 00:53:33.810 --> 00:53:37.170 But I don't want to I don't want to hold this. 536 "jspaeth@cityofutica.com" (3258531584) 00:53:37.170 --> 00:53:44.940 And you've got all that play in there for the same because we always talked about egress or? No, that's been probably from this point. 537 "jspaeth@cityofutica.com" (3258531584) 00:53:44.940 --> 00:53:48.600 What the hotel is that it shifted up a little bit. 538 "jspaeth@cityofutica.com" (3258531584) 00:53:48.600 --> 00:53:51.960 You have this area right? In through here. 539 "jspaeth@cityofutica.com" (3258531584) 00:53:51.960 --> 00:53:55.590 Probably a little bit of this, but this is considered. 540 "jspaeth@cityofutica.com" (3258531584) 00:53:55.590 --> 00:54:07.950 That will not be tested, so install our and again, if the clubhouse would be around in here somewhere and we dotted the perimeter with the apartment. 541 "jspaeth@cityofutica.com" (3258531584) 00:54:07.950 --> 00:54:11.130 So, it could take advantage of the views. 542 "jspaeth@cityofutica.com" (3258531584) 00:54:11.130 --> 00:54:15.510 And that left us this plan to do whatever is going to come next week. 543 "3157****70" (3660409600) 00:54:15.510 --> 00:54:25.560 Okay. 544 "jspaeth@cityofutica.com" (3258531584) 00:54:25.560 --> 00:54:29.670 That makes it would cost of carrying the site. 545 "jspaeth@cityofutica.com" (3258531584) 00:54:29.670 --> 00:54:34.410 Built in to the 1st, for the whole piece. 546 "jspaeth@cityofutica.com" (3258531584) 00:54:34.410 --> 00:54:41.160 A problem, yeah, yeah, yeah. Yeah. The infrastructure will be in place to go on to phase 2. 547 "jspaeth@cityofutica.com" (3258531584) 00:54:41.160 --> 00:54:45.030 Utilities that site doing the site work. 548 "jspaeth@cityofutica.com" (3258531584) 00:54:45.030 --> 00:54:58.350 Right. The only thing will be the construction cost of phase 2 that will need to be discussed for mortgage and sales tax exemption. 549 "jspaeth@cityofutica.com" (3258531584) 00:55:03.420 --> 00:55:06.450 I understand that get a new pilot. 550 "jspaeth@cityofutica.com" (3258531584) 00:55:06.450 --> 00:55:17.580 He'll be gone, I gotta do the, and I'll be fine. 551 "jspaeth@cityofutica.com" (3258531584) 00:55:19.140 --> 00:55:24.540 But I hope we've answered most of your questions. I understand. You know, there's some fluctuation. 552 "jspaeth@cityofutica.com" (3258531584) 00:55:24.540 --> 00:55:29.820 But if you think about, it's almost impossible, but we can give you numbers, but it's. 553 "jspaeth@cityofutica.com" (3258531584) 00:55:29.820 --> 00:55:33.150 Sort of maybe we could have done a little tighter job of tightening up. 554 "jspaeth@cityofutica.com" (3258531584) 00:55:33.150 --> 00:55:37.170 Our our labor costs, but labor costs are all over the 40. 555 "jspaeth@cityofutica.com" (3258531584) 00:55:38.820 --> 00:55:43.830 I think the project also changed a little from what our. 556 "jspaeth@cityofutica.com" (3258531584) 00:55:43.830 --> 00:55:47.280 I thought we thought the hotel was going on. 557 "jspaeth@cityofutica.com" (3258531584) 00:55:47.280 --> 00:55:51.870 New parcel, right and then we were only dealing with the. 558 "jspaeth@cityofutica.com" (3258531584) 00:55:51.870 --> 00:56:05.550 Apartments in this room, a portion of the hotel is gonna be on the new part on the no, no but, I mean, the whole construction and all that is being both of them is different. I think that we were thinking here, we were thinking it was all apartments. 559 "jspaeth@cityofutica.com" (3258531584) 00:56:05.550 --> 00:56:10.080 Okay, you know, that we were talking about that, a hotel and departments. 560 "jspaeth@cityofutica.com" (3258531584) 00:56:10.080 --> 00:56:13.440 We're thinking the other hotel was phase 2. 561 "jspaeth@cityofutica.com" (3258531584) 00:56:13.440 --> 00:56:26.700 That as you were talking about another hotel, not the original 1 that you had planned for there. So, yeah, this meeting is a lot more informative I think, for everybody is what really we're looking at. 562 "jspaeth@cityofutica.com" (3258531584) 00:56:26.700 --> 00:56:34.530 Yeah, I mean, depending on the investment point of view and all of that, but you can see the confusion our hotel. 563 "jspaeth@cityofutica.com" (3258531584) 00:56:34.530 --> 00:56:40.920 It looked like it was the whole PSA 1 with the new hotel than that. 564 "jspaeth@cityofutica.com" (3258531584) 00:56:40.920 --> 00:56:44.670 Cars land. 565 "jspaeth@cityofutica.com" (3258531584) 00:56:44.670 --> 00:56:48.660 So, at 18Million, a big difference in this project, from. 566 "jspaeth@cityofutica.com" (3258531584) 00:56:48.660 --> 00:56:53.220 Just so you were building departments for this whole 65Million dollars so. 567 "jspaeth@cityofutica.com" (3258531584) 00:56:53.220 --> 00:56:57.660 Big difference so. 568 "jspaeth@cityofutica.com" (3258531584) 00:56:57.660 --> 00:57:00.780 Anything else for me. 569 "jspaeth@cityofutica.com" (3258531584) 00:57:01.950 --> 00:57:07.290 Thanks. All right. Well, thank you. It was great. 570 "jspaeth@cityofutica.com" (3258531584) 00:57:07.290 --> 00:57:11.100 Yeah. 571 "jspaeth@cityofutica.com" (3258531584) 00:57:11.100 --> 00:57:22.740 There's your original Yeah and your check? Yep you need more hard copies. Let me know. I can handle my email. Yes yes. Yep, sure. 572 "jspaeth@cityofutica.com" (3258531584) 00:57:22.740 --> 00:57:32.460 You send me what you said? Hello? What are you? Good friends. Yep. So what's the next step for the for this? I mean, how is the process work? Well, they need the. 573 "jspaeth@cityofutica.com" (3258531584) 00:57:32.460 --> 00:57:36.030 Right, right and that would then we induce the project right? 574 "jspaeth@cityofutica.com" (3258531584) 00:57:36.030 --> 00:57:45.120 And there's a public hearing, okay, which nobody ever shows up to. Right right. It comes back for a while. So I. 575 "jspaeth@cityofutica.com" (3258531584) 00:57:45.120 --> 00:57:49.350 Thank you. Okay. Yeah. Thank you. Thank you. Okay, thank you. Bye. Bye. Bye. 576 "3157****70" (3660409600) 00:57:49.350 --> 00:57:54.030 Thank you. 577 "3157****70" (3660409600) 00:57:54.030 --> 00:57:59.790 That's the session. 578 "jspaeth@cityofutica.com" (3258531584) 00:57:59.790 --> 00:58:05.850 Um, to me, it, it'd be 2 projects. Now I root. 579 "jspaeth@cityofutica.com" (3258531584) 00:58:05.850 --> 00:58:13.620 Think mixing them together. It puts us maybe in harm's way relative to somebody look at it because the difference in. 580 "jspaeth@cityofutica.com" (3258531584) 00:58:13.620 --> 00:58:17.040 Between a whole town and water. 581 "jspaeth@cityofutica.com" (3258531584) 00:58:17.040 --> 00:58:21.000 For the 2nd phase, the cost would be. 582 "jspaeth@cityofutica.com" (3258531584) 00:58:21.000 --> 00:58:24.660 Yeah, all right. 583 "jspaeth@cityofutica.com" (3258531584) 00:58:24.660 --> 00:58:29.040 Phase 1 is they described it right? There are missing hotel. 584 "jspaeth@cityofutica.com" (3258531584) 00:58:29.040 --> 00:58:34.110 So, they got the real estate tax breaks that they were looking for it. 585 "jspaeth@cityofutica.com" (3258531584) 00:58:34.110 --> 00:58:37.410 Would be extraordinary deal. Great, extraordinary. 586 "jspaeth@cityofutica.com" (3258531584) 00:58:37.410 --> 00:58:40.590 And if I had to justify that, if somebody, I would. 587 "jspaeth@cityofutica.com" (3258531584) 00:58:40.590 --> 00:58:53.460 Having a drink somewhere no, maybe I could cut the conversation short a month, but then if they built a waterpark or another hotel and somebody said, well, that's great. You know. 588 "jspaeth@cityofutica.com" (3258531584) 00:58:53.460 --> 00:59:00.870 Increase their deck, our tax revenue, and we said no, that's that's free. Then I really have a hard time with that. 589 "jspaeth@cityofutica.com" (3258531584) 00:59:02.130 --> 00:59:05.430 Should we be looking at it and, like, Jonathan phases. 590 "jspaeth@cityofutica.com" (3258531584) 00:59:05.430 --> 00:59:14.940 Yeah, you can approve and maybe you approve the hotel for 12 years. I couldn't get a sense, you know, the infrastructure work and I get what they're saying about the bill. 591 "jspaeth@cityofutica.com" (3258531584) 00:59:14.940 --> 00:59:19.230 And all that, because I, I've seen the other projects going on. 592 "jspaeth@cityofutica.com" (3258531584) 00:59:19.230 --> 00:59:24.900 In North America, but I think can do all the infrastructure work. 593 "jspaeth@cityofutica.com" (3258531584) 00:59:24.900 --> 00:59:27.900 With the initial. 594 "jspaeth@cityofutica.com" (3258531584) 00:59:29.610 --> 00:59:33.840 Phase 1, no promotion items like. 595 "3157****70" (3660409600) 00:59:33.840 --> 00:59:46.530 It just wasn't clearly present, you know, what you're doing it definitely was not. And did we hear the the, the figure for the infrastructure work is 4Million is that what I heard. 596 "jspaeth@cityofutica.com" (3258531584) 00:59:46.530 --> 00:59:49.950 Yeah, 4 to 5Million. Yeah. 597 "jspaeth@cityofutica.com" (3258531584) 00:59:49.950 --> 00:59:55.410 For the ring road and for the electrical well, no, I think they're focused more on the. 598 "jspaeth@cityofutica.com" (3258531584) 00:59:55.410 --> 01:00:07.320 I couldn't make out the word Andy was used in surcharge surcharge. Right? But, you know, there there was about dropping the land bought a 1Million bucks. I remember from. 599 "jspaeth@cityofutica.com" (3258531584) 01:00:07.320 --> 01:00:16.800 What we were going to pay for about a 1Million bucks to bring in dirt, and you could get the dirt but the story so, 4 years ago, what was the scope of the work? Was it. 600 "jspaeth@cityofutica.com" (3258531584) 01:00:16.800 --> 01:00:20.790 The rest of the available acreage, or was it just. 601 "jspaeth@cityofutica.com" (3258531584) 01:00:20.790 --> 01:00:24.300 Where the hotel and apartments are being. 602 "jspaeth@cityofutica.com" (3258531584) 01:00:24.300 --> 01:00:29.790 It was the, it wasn't, uh, uh, it sounds like something out of the. 603 "jspaeth@cityofutica.com" (3258531584) 01:00:29.790 --> 01:00:34.890 Roswell yeah, around the back the back 14 acres, which is. 604 "jspaeth@cityofutica.com" (3258531584) 01:00:34.890 --> 01:00:42.390 They already own the front acreage where the ice outflows, you know, we're yeah we're to Docs. Are. 605 "jspaeth@cityofutica.com" (3258531584) 01:00:42.390 --> 01:00:47.550 No way long building is that's 1. 606 "jspaeth@cityofutica.com" (3258531584) 01:00:47.550 --> 01:00:50.610 Or that's a new parcel logging. That's right there. 607 "jspaeth@cityofutica.com" (3258531584) 01:00:50.610 --> 01:00:58.380 They own that Alrighty the back parcel. That's the 1. we're going to make 1. is that what is that control? 608 "jspaeth@cityofutica.com" (3258531584) 01:00:58.380 --> 01:01:02.250 Nightmare so here's the 33 buildings. 609 "jspaeth@cityofutica.com" (3258531584) 01:01:02.250 --> 01:01:07.470 The big building that you see the gray 1, and then this is his proposed building. I don't know. 610 "3157****70" (3660409600) 01:01:10.380 --> 01:01:18.150 Then, what is the harbor point? What do they want to see there for phase 2 another hotel or a water park? 611 "jspaeth@cityofutica.com" (3258531584) 01:01:20.400 --> 01:01:25.230 Well, what our harbor people on us. 612 "jspaeth@cityofutica.com" (3258531584) 01:01:25.230 --> 01:01:31.290 Something for kids to be able to do to get them out of Genesis street when they're here for hockey tournaments. 613 "jspaeth@cityofutica.com" (3258531584) 01:01:31.290 --> 01:01:36.420 You know, they wanna well, actually for the that would be a water. 614 "jspaeth@cityofutica.com" (3258531584) 01:01:36.420 --> 01:01:41.160 It's an indoor water yeah, it'd be an NDA. Waterpark Yep. Yep. 615 "jspaeth@cityofutica.com" (3258531584) 01:01:41.160 --> 01:01:49.320 The water park, the water park to harbor likes it's the apartments that they don't they're not thrilled with. So. 616 "jspaeth@cityofutica.com" (3258531584) 01:01:52.530 --> 01:01:59.670 I, I could almost wrap my my around, having the apartments there just based on the. 617 "jspaeth@cityofutica.com" (3258531584) 01:01:59.670 --> 01:02:08.520 You know, the applicants themselves, their, their reputation, and, you know, their vested interest in making sure the departments work as well. 618 "jspaeth@cityofutica.com" (3258531584) 01:02:08.520 --> 01:02:11.790 The hotels work, you, you're gonna see some. 619 "jspaeth@cityofutica.com" (3258531584) 01:02:11.790 --> 01:02:19.470 Symmetry between those 2 properties, and, you know, those apartments are going to be maybe not 1 year leases. They're going. 620 "jspaeth@cityofutica.com" (3258531584) 01:02:21.510 --> 01:02:31.560 Almost clicking here. Yeah, so they're, they're gonna run down like a hospitality. You have to run that like a right? That's right. Department part routers and, uh. 621 "jspaeth@cityofutica.com" (3258531584) 01:02:31.560 --> 01:02:34.800 Clubhouse in the pool, right? They're not. 622 "jspaeth@cityofutica.com" (3258531584) 01:02:34.800 --> 01:02:38.970 You know, it's, it's going to be their own extended state. 623 "jspaeth@cityofutica.com" (3258531584) 01:02:40.170 --> 01:02:43.680 Yeah, that that's their. 624 "jspaeth@cityofutica.com" (3258531584) 01:02:43.680 --> 01:02:50.880 That's their area of expertise. I, I, you know, we just need to understand exactly what they want. The timing. 625 "jspaeth@cityofutica.com" (3258531584) 01:02:50.880 --> 01:02:54.420 Yeah, yeah. 626 "jspaeth@cityofutica.com" (3258531584) 01:02:54.420 --> 01:02:59.880 Really I don't think they heard it well enough from window or from from Mark is. 627 "jspaeth@cityofutica.com" (3258531584) 01:02:59.880 --> 01:03:04.590 I want to ask us to do a 30 year highlight here. 628 "jspaeth@cityofutica.com" (3258531584) 01:03:04.590 --> 01:03:12.750 To do it where we could justify, because right now there's nothing. Mm. Hmm. The support that, you know, the hotels are totally different. 629 "jspaeth@cityofutica.com" (3258531584) 01:03:12.750 --> 01:03:18.600 Situation, you know, and they were, you know, we're. 630 "jspaeth@cityofutica.com" (3258531584) 01:03:18.600 --> 01:03:23.490 It's it's not even apples to apples. No. Can you structure. 631 "jspaeth@cityofutica.com" (3258531584) 01:03:23.490 --> 01:03:27.330 Uh, pilot program with them. 632 "jspaeth@cityofutica.com" (3258531584) 01:03:27.330 --> 01:03:31.740 That they receive and a maximum. 633 "jspaeth@cityofutica.com" (3258531584) 01:03:31.740 --> 01:03:35.280 Like, they paid the posit sort of. 634 "jspaeth@cityofutica.com" (3258531584) 01:03:35.280 --> 01:03:38.310 Again, the deposit benefit and figure out. 635 "jspaeth@cityofutica.com" (3258531584) 01:03:38.310 --> 01:03:42.210 What the maximum maximum benefit we want to give it. 636 "jspaeth@cityofutica.com" (3258531584) 01:03:42.210 --> 01:03:47.190 And we give a minimum, you know, based upon what they've presented to us. 637 "jspaeth@cityofutica.com" (3258531584) 01:03:47.190 --> 01:04:01.380 And adjusted somehow, as it goes along, based on state jobs, that payroll, or whatever what do you want? You block it in well, you lock it into the job stuff. They don't create the job. You can either go with some type of a percentage. 638 "jspaeth@cityofutica.com" (3258531584) 01:04:01.380 --> 01:04:14.370 You know, 1020, 30, 40, 50, 60 up to 100, or you'll have some type of a fixed rate. And that's what they're that's what they're requesting is that fixed rate of 70,000. so. 639 "jspaeth@cityofutica.com" (3258531584) 01:04:15.235 --> 01:04:24.265 Well, you, I mean, you can mix the percentage of, but then it's not something that's triggered, you know, because then you'd be doing amendments to the existing, you know, 640 "jspaeth@cityofutica.com" (3258531584) 01:04:24.265 --> 01:04:32.455 so you're going to send the pilot in you're going to have a public hearing based on what this says and then all of a sudden now you want this and then this. 641 "jspaeth@cityofutica.com" (3258531584) 01:04:32.760 --> 01:04:36.240 And then you're going to be kind of jerking around there. What. 642 "3157****70" (3660409600) 01:04:36.240 --> 01:04:42.540 There could be a formula there could be a formula for the pilot payments that's tied to some. 643 "3157****70" (3660409600) 01:04:42.540 --> 01:04:49.200 Some type of performance. 644 "jspaeth@cityofutica.com" (3258531584) 01:04:49.200 --> 01:04:53.430 Insurance, we've done those. 645 "jspaeth@cityofutica.com" (3258531584) 01:04:53.430 --> 01:04:56.640 Well, that's what I wanted to speak up to. 646 "jspaeth@cityofutica.com" (3258531584) 01:04:56.640 --> 01:05:01.680 We have structured, um, pilots before for. 647 "jspaeth@cityofutica.com" (3258531584) 01:05:01.680 --> 01:05:10.440 Projects that are designed just like this to be done in several phases over a very long period of time. Where. 648 "jspaeth@cityofutica.com" (3258531584) 01:05:10.440 --> 01:05:16.170 Uh, we'd have to take a closer look to see the details, but in essence. 649 "jspaeth@cityofutica.com" (3258531584) 01:05:16.170 --> 01:05:21.900 The entire project, the financial assistance for the entire project is approved. 650 "jspaeth@cityofutica.com" (3258531584) 01:05:21.900 --> 01:05:36.120 In the beginning, but you in the takes a lease, hold interest in the entire land at the beginning, but you close on pilots in phases. You know, you have a phase 1 pilot and then. 651 "jspaeth@cityofutica.com" (3258531584) 01:05:36.120 --> 01:05:45.115 The company comes back when they're ready to start when their numbers are firmed up for phase 2, and they come back and give an update on. 652 "jspaeth@cityofutica.com" (3258531584) 01:05:45.145 --> 01:05:55.885 Um, and if their assumptions projections were correct, then you proceed with filing the phase 2 pilot. Um, if they're not. 653 "jspaeth@cityofutica.com" (3258531584) 01:05:56.120 --> 01:06:09.510 And the board, you know, and the company can talk about adjusting the pilot to meet the expectations, or the spirit that was originally intended. Um, so we can take a look at, you know, some of. 654 "jspaeth@cityofutica.com" (3258531584) 01:06:09.510 --> 01:06:14.430 The past structures that we've done and see how it could apply here. Mm. Hmm. 655 "jspaeth@cityofutica.com" (3258531584) 01:06:14.430 --> 01:06:25.350 But the idea is that yes, you need to come back and reconcile your numbers that you gave 3 years ago to make sure that everybody's still. 656 "jspaeth@cityofutica.com" (3258531584) 01:06:25.350 --> 01:06:34.770 Moving along with the same assumptions. Are you comfortable though, with going out for 30 years after requesting? Would it be better protection for the? We did. 657 "jspaeth@cityofutica.com" (3258531584) 01:06:34.770 --> 01:06:43.140 Right, well there's accountability, you know, there's, you're better able to monitor progress. 658 "jspaeth@cityofutica.com" (3258531584) 01:06:43.140 --> 01:06:55.950 Um, and just make sure the intentions are consistent, you know, they come back annually and give an update um, here's where we are. Here's, you know, what's changed. Here's what we finished and. 659 "jspaeth@cityofutica.com" (3258531584) 01:06:55.950 --> 01:07:04.860 My problem is the project keeps changing. I learned something today. I didn't know when I put on our board for I thought. 660 "jspaeth@cityofutica.com" (3258531584) 01:07:04.860 --> 01:07:09.750 They were built a hotel on new parcel and dsa 1 was part of. 661 "jspaeth@cityofutica.com" (3258531584) 01:07:09.750 --> 01:07:13.020 A whole different project now I find out or not. 662 "jspaeth@cityofutica.com" (3258531584) 01:07:13.020 --> 01:07:20.940 That was nice to me this morning. So, I mean, I think we need to nail their feet to the floor just because that's the way they operate. Well, they do kind of. 663 "jspaeth@cityofutica.com" (3258531584) 01:07:20.940 --> 01:07:28.290 You know, they throwing up out there to get mayor bothered, but they never come up with details. We need details. 664 "jspaeth@cityofutica.com" (3258531584) 01:07:28.290 --> 01:07:33.750 Not a 5,000 dollars for yeah, that's a big pilot. 665 "jspaeth@cityofutica.com" (3258531584) 01:07:33.750 --> 01:07:38.130 With the parallel you're letting like, 26 to 28Million so. 666 "jspaeth@cityofutica.com" (3258531584) 01:07:38.130 --> 01:07:43.650 Oh, you want to be 1st. 667 "jspaeth@cityofutica.com" (3258531584) 01:07:43.650 --> 01:07:48.360 Down the road here, so then they can finish with. 668 "jspaeth@cityofutica.com" (3258531584) 01:07:48.360 --> 01:07:52.950 Harbor mission, and they still haven't gone out and. 669 "jspaeth@cityofutica.com" (3258531584) 01:07:52.950 --> 01:08:00.240 Found investors, so they want all this set up before they can go out and get their investors and then right and go get their finances. 670 "jspaeth@cityofutica.com" (3258531584) 01:08:03.210 --> 01:08:08.130 I agree I, I can't wrap my head around this, cause it just in our. 671 "jspaeth@cityofutica.com" (3258531584) 01:08:08.130 --> 01:08:16.500 You know, it just kept changing it changed from the last meeting last harbor meeting that we had, which was about 2 weeks ago changed. 672 "jspaeth@cityofutica.com" (3258531584) 01:08:16.500 --> 01:08:20.940 They're too good at what they do. 673 "jspaeth@cityofutica.com" (3258531584) 01:08:20.940 --> 01:08:29.970 And not be able to nail this down. Yeah. Yeah. Good point. Direction numbers right? From 360 right? 674 "jspaeth@cityofutica.com" (3258531584) 01:08:29.970 --> 01:08:35.910 I mean, I think Josh, I think you're right, is that they don't know the apartment business. 675 "jspaeth@cityofutica.com" (3258531584) 01:08:35.910 --> 01:08:43.320 They know the hospitality business, so tell us that what you're doing, you know, instead of this whole market. 676 "jspaeth@cityofutica.com" (3258531584) 01:08:43.320 --> 01:08:50.640 Apartments, blah, blah, you know, and what you're gonna do a hospitality air BNB, whatever you just tell us, you know. 677 "jspaeth@cityofutica.com" (3258531584) 01:08:50.640 --> 01:08:55.890 Tell us what the project is not and if they don't determine what they're. 678 "jspaeth@cityofutica.com" (3258531584) 01:08:55.890 --> 01:09:01.440 Are you going to charge the cost while I'm looking at it? If the whole thing, the hotel, you know. 679 "jspaeth@cityofutica.com" (3258531584) 01:09:01.440 --> 01:09:06.600 So you got the hotel and you got 41% material cost and a project. 680 "jspaeth@cityofutica.com" (3258531584) 01:09:06.600 --> 01:09:11.340 That's way too high and that's probably 15% hired and should be. 681 "jspaeth@cityofutica.com" (3258531584) 01:09:11.340 --> 01:09:21.960 You know, your labor costs, or, you know, he basically said he put his labor costs are 25%. That's probably close at 75Million dollar project. 682 "jspaeth@cityofutica.com" (3258531584) 01:09:21.960 --> 01:09:26.310 Put their costs away, you know, but the file prep. 683 "jspaeth@cityofutica.com" (3258531584) 01:09:26.310 --> 01:09:31.710 Want to redo just to make it ready to, you know, the handle the load of those buildings. 684 "jspaeth@cityofutica.com" (3258531584) 01:09:31.710 --> 01:09:34.770 You know, that is cost. 685 "jspaeth@cityofutica.com" (3258531584) 01:09:34.770 --> 01:09:39.270 Higher above, and, you know, conventional site. 686 "jspaeth@cityofutica.com" (3258531584) 01:09:39.270 --> 01:09:42.390 But, yeah, they. 687 "jspaeth@cityofutica.com" (3258531584) 01:09:42.390 --> 01:09:48.270 It should be able to break it out take down 40, 50. 688 "jspaeth@cityofutica.com" (3258531584) 01:09:48.270 --> 01:09:57.330 Ground up construction. Oh, yeah, yeah, I know he knows the hotels. Yeah. 17. K. I mean, yeah. How much. 689 "jspaeth@cityofutica.com" (3258531584) 01:09:57.330 --> 01:10:00.660 How much Turkey is this going to cost him? Yeah. Yeah. 690 "jspaeth@cityofutica.com" (3258531584) 01:10:00.660 --> 01:10:08.130 Mm, hmm so we need some clarification and he met with the surcharge. We were talking about. 691 "jspaeth@cityofutica.com" (3258531584) 01:10:08.130 --> 01:10:17.370 Burden the Lance, or wouldn't fine. Yep. Okay. Cause there's low spots. Yeah, he just needs to fill it. Wait for it to settle. 692 "jspaeth@cityofutica.com" (3258531584) 01:10:18.450 --> 01:10:26.370 Yeah, well that was done for. What do you what do you want to do today? Do you want to induce it subject to. 693 "3157****70" (3660409600) 01:10:26.370 --> 01:10:29.700 I mean, we can come up with a list of. 694 "3157****70" (3660409600) 01:10:29.700 --> 01:10:33.300 Things that we still want to be satisfied about. 695 "jspaeth@cityofutica.com" (3258531584) 01:10:34.410 --> 01:10:46.800 Walk away and again the right it's a condition of inducement is signing that, which that's not close. It sounds like. So, um. 696 "jspaeth@cityofutica.com" (3258531584) 01:10:46.800 --> 01:10:51.600 This is the way they operate Linda. If we induce it, we'll never get anything more for them. 697 "jspaeth@cityofutica.com" (3258531584) 01:10:51.600 --> 01:10:56.910 Yeah, well, I think we do. 698 "3157****70" (3660409600) 01:10:56.910 --> 01:11:04.410 Then they've got an inducement that the idea is not going to anything else with. I mean, inducing it without us going further. 699 "jspaeth@cityofutica.com" (3258531584) 01:11:04.410 --> 01:11:14.970 Doesn't mean, anything I just think we need more clarification and I think we, we put together a letter to them thanking them for coming and then. 700 "jspaeth@cityofutica.com" (3258531584) 01:11:15.655 --> 01:11:29.725 Here's our question, but he should put the pilot agreement is 1 of the pilots that they'll make, they'll make those numbers work. Yeah, well, they'll make them work, but our pilot thing is they have to know that I don't we're stuck with that for a long time. Yeah. 701 "jspaeth@cityofutica.com" (3258531584) 01:11:30.060 --> 01:11:34.620 I don't like 8 job submitting the city so much anything in total. 702 "jspaeth@cityofutica.com" (3258531584) 01:11:34.620 --> 01:11:38.640 Uh, yeah, 830 full time. 30 years. 703 "jspaeth@cityofutica.com" (3258531584) 01:11:38.640 --> 01:11:41.850 But it's 70,000 per year. 704 "jspaeth@cityofutica.com" (3258531584) 01:11:41.850 --> 01:11:49.980 Is a fixed rate for the entire length of the pilot pilot together. It never goes up. 705 "jspaeth@cityofutica.com" (3258531584) 01:11:49.980 --> 01:11:53.220 Roll all die no, no, no. 706 "jspaeth@cityofutica.com" (3258531584) 01:11:53.220 --> 01:11:56.940 No, it's, uh. 707 "jspaeth@cityofutica.com" (3258531584) 01:11:56.940 --> 01:12:00.870 Well, I don't know if you're interested in the room, but I'll be 90. 708 "jspaeth@cityofutica.com" (3258531584) 01:12:00.870 --> 01:12:12.570 But if if 12 years is a year, so we just put it out there now. So they know yeah, I think That'll work on the bear in the room. 709 "3157****70" (3660409600) 01:12:12.570 --> 01:12:18.450 I mean, again I've been told that the mayor is adamant that. 710 "3157****70" (3660409600) 01:12:18.450 --> 01:12:22.050 The pilot he negotiated is the 1 that you guys do. 711 "jspaeth@cityofutica.com" (3258531584) 01:12:22.050 --> 01:12:31.350 Yeah, hold on. Hold on. Hold on. I'm just gonna go into executive session. I've got a 2nd, I thought we have. 712 "jspaeth@cityofutica.com" (3258531584) 01:12:31.350 --> 01:12:36.210 No, no, no, no. Oh, Gee. 713 "jspaeth@cityofutica.com" (3258531584) 01:12:37.320 --> 01:12:40.560 I got the guy with a bad leg. 714 "jspaeth@cityofutica.com" (3258531584) 01:12:40.560 --> 01:12:47.970 That's good. It's not only relative to remind. Okay. 715 "jspaeth@cityofutica.com" (3258531584) 01:12:47.970 --> 01:12:56.310 Okay, and then now we're an executive session I thought we were. I'm sorry. So how do you guys want it? 716 "jspaeth@cityofutica.com" (3258531584) 01:12:56.310 --> 01:13:00.660 How do you guys want to. 717 "jspaeth@cityofutica.com" (3258531584) 01:13:00.660 --> 01:13:06.540 I made motion to adjourn everybody seconded it. Okay. 718 "jspaeth@cityofutica.com" (3258531584) 01:13:06.540 --> 01:13:13.350 Thanks guys. 719 "jspaeth@cityofutica.com" (3258531584) 01:13:13.350 --> 01:13:27.715 You will have let me, let me start supposed to break ground. Start closing. We haven't closed yet. So closing is, I believe, May 15 so soon anytime after that. 720 "jspaeth@cityofutica.com" (3258531584) 01:13:27.805 --> 01:13:33.295 Uh, I believe with me by John buffer to adjourn the meeting. 721 "jspaeth@cityofutica.com" (3258531584) 01:13:33.350 --> 01:13:35.580 Seconded by Martin. 722 "jspaeth@cityofutica.com" (3258531584) 01:13:35.580 --> 01:13:41.988 And at 1036, thank you very much.