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Re: SG-W:/ "GREEN" INVESTMENT UPDATE



Jack - I'd be intested in helping out with a loan. Send
me the contract. 
	- Woody

In message <46910ed2.24c29b86@aol.com>, Smileysmlc@aol.com writes:
>Dear friends,
>I had previously posted an e-mail to the SmartGrowth-Washtenaw list and was 
>pleased (and surprised) by the number of positive responses.  In case there 
>are others who would still be interested in this opportunity, I am sending 
>this update to the entire listserve group.
>
>Southeast Michigan Land Conservancy (SMLC) representatives met with the 
>landowners on Friday and submitted a written offer to purchase the 79.86 
>acres at the corner of Prospect and Geddes Roads in Superior Township.  They 
>seemed receptive, but indicated that they needed to get the approval of 
>another partner.  We're keeping our fingers crossed.
>
>If they accept our offer (we should know within a couple days) we will need 
>to pay them off within 30 days--a tight timetable, but we're sure that we can 
>do it.  SMLC will need to borrow between $150,000 and $200,000 to finalize 
>the purchase.  So far, we have loose commitments for about $50,000....and I 
>haven't even contacted people who have loaned us money on other projects.  
>So, it seems that we are in pretty good shape.
>
>As soon as we have a signed contract, I will provide complete financial 
>details to those who are interested.  Again, we are looking to borrow money 
>to finance this land acquisition while we await a state PDR (Purchase of 
>Development Rights) grant which has already been approved.  (The grant should 
>be for about $200,000, plus or minus a few thousand dollars).  We are looking 
>for loans in $5,000 and $10,000 increments, and we will pay 6% simple 
>interest, calculated on a daily basis.  We anticipate that the maximum length 
>of time that we will need for repayment is 6 months.  We will most likely 
>repay all loans within 3 months...but we like to plan conservatively--and you 
>should, too.
>
>Please contact me if you are interested and haven't contacted me before.  (I 
>can supply more details or answer any questions).
>
>For those who have previously responded, I would appreciate knowing if you 
>are still interested, and at what dollar amount you are considering.  I will 
>soon have the revised contracts which we will utilize (I can forward to you, 
>now, the contracts we used last time--they're pretty simple & 
>straightforward).
>
>Questions?  Send me an e-mail!
>
>Thanks to all who have expressed interest!!
>
>- Jack Smiley, President
>Southeast Michigan Land Conservancy 
>
>
>===============================================================
>smartgrowth-washtenaw:  Internet List and Forum for issues relating to
>sprawl, smart growth, and preservation of the quality of life in Washtenaw
>County.
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===============================================================
smartgrowth-washtenaw:  Internet List and Forum for issues relating to
sprawl, smart growth, and preservation of the quality of life in Washtenaw
County.

Postings to:  smartgrowth-washtenaw@great-lakes.net      For info, send
email to majordomo@great-lakes.net  with a one-line message body of  "info
smartgrowth-washtenaw"
===============================================================