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So, to me, if, if we are going to make a meaningful effort to cure this area of the derelict
<br /> structure and complete something, we need to have a much stricter timeline whereby plan
<br /> approval will be applied for within a year, which I think is reasonable given the commitment in
<br /> the letter that the building will be consistent with the 2017 plan approval. So if we can commit,
<br /> as a condition, that plan approval will be applied for in one year, and within one year of securing
<br /> plan approval, or even less maybe, six months within securing plan approval, building permits
<br /> will be submitted for, and then construction will be commenced within one year of receiving the
<br /> building permits. And if any one of those conditions is not met, I would recommend that the
<br /> permit be revoked; so if you do not apply for final plan approval within one year, the permit is
<br /> revoked and over; if within six months of receiving plan approval you do not submit for final
<br /> building permit, the permit is revoked and over; if, within one year or less of receiving the
<br /> building permit, if you don't commence construction, SMA permit is revoked and over. Is that
<br /> something that you guys can commit to on behalf of the developer?
<br /> FUKE: I can't, like, Mr. Vitousek, I can't necessarily commit to that, but, you know, from my
<br /> perspective, a couple of things, I think. First of all, I kind of indicated that, you know, the letter
<br /> that you saw, and it was provided by the attorneys' office, but basically saying that they'll have
<br /> the plan approval no later than 2023, but if you listen to what I initially articulated, I would say
<br /> that the hope is to secure final plan approval by the end of 2021 or the first quarter of 2022, and
<br /> then the building permit to be secured by the end of 2022 but no later than, you know, 2023. I
<br /> hear what you are saying, you know, there should be a little bit more specific timetable relative
<br /> to the process. You know, I, I would think that that's kind of like reasonable; what needs to be
<br /> more specifically addressed, however, if like the timetable between, what you are suggesting
<br /> between final plan approval and submittal of a building permit, six months - - - absolutely too,
<br /> too short.
<br /> VITOUSEK: Okay, what do you feel about a year between final plan approval and submitting
<br /> for building permits? I feel as though a year should be plenty of time to get the design together.
<br /> FUKE: Well, as far as like, you know, completing the value engineering and coming up with the
<br /> plans for plan approval, you know, by the end of next year or the first quarter of 2022, from my
<br /> personal observation in dealing with other projects, I would say that that's kind of like
<br /> reasonable to ask. If you kind of like roll back the clock now, you know, if you have like the
<br /> deadline of December 2025 to have the building completed—and Mr. Newberg knows very well
<br /> from the construction standpoint approximately how long, you know, when do you have to
<br /> begin—well, begin, and I agree with you, you can't begin in January of 2025 and expect it to be
<br /> completed in 12 months thereafter. So probably, you then, you know, roll it back to say, you
<br /> know, construction to begin maybe no later than maybe mid-2024. It can begin earlier, but
<br /> definitely no later than that. I mean like it's more like how do you break it up within that
<br /> five-year window, you know, to provide a realistic milestone, realistic and achievable milestone.
<br /> VITOUSEK: And to me, that's why having the developer here is entirely material to the
<br /> discussion because they are the ones who are going to be selecting the contractor, selecting the
<br /> architect, determining the duration of time for design, and all that. And with respect to you, you
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<br /> EXHIBIT B
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