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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.
In message <firstname.lastname@example.org>, Smileysmlc@aol.com writes:
>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
>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 &
>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
>Postings to: email@example.com For info, send
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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
Postings to: email@example.com For info, send
email to firstname.lastname@example.org with a one-line message body of "info