1995.02.28_TC_Minutes_Executive Session1
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PROCEED I NGS
TOWN OF HIGHLAND BEACH, FLORIDA
PRIVATE ATTORNEY/CLIENT EXECUTIVE SESSION
3614 South Ocean Blvd.
Highland Beach, Florida
February 28, 1995
4:26 - 7:10 p.m.
4p f "1
T']KPv#*'A N
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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PRESENT AT THE SESSION:
Arlin Voress, Mayor
Mary Ann Mariano, Town Manager
George Roberts, Esquire
John F. Rand, Commissioner
Charles Schoech, Esquire
Bill Paul, Vice -Mayor
Arhtur Eypel, Commissioner
David Augustein, Commissioner
Denise Cupelli, Court Reporter
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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Thereupon,
MR. ROBERTS: This is the convening of a
private attorney/client executive session.
Present at the session are Mary Ann Mariano,
the Town Manager; myself, George Roberts, the
Counsel in the matter; Commissioner John Rand;
Attorney, Charles Schoech, who has been
requested by the Town here to be a consultant
on the financial aspects of the settlement,
and also an attorney; Mayor Arlin Voress;
Vice -Mayor, Bill Paul; Commissioner Arthur
Eypel; and Commissioner David Augustein.
The start time of this session is 4:26.
And the court reporter has been instructed
pursuant Florida Statute 286.011(8) to record
the entire session from commencement to
termination, to record all discussions and
proceedings, the names of all persons present
at any time, and the names of all persons
speaking. No portion of the session shall be
off the record. The court reporter's notes
shall be fully transcribed and filed with the
Town Clerk within a reasonable time after the
meeting. And once we complete, we will again
indicate the time and reopen the session to
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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conclude the special meeting.
I would only ask that if you all have
not been to a session where a court reporter
is, that you speak audible; you speak in words
rather than "uh-huh's" and "unh-unh's",
because she doesn't take that down well; that
you speak one at a time; that you speak slowly
to make sure that she takes it down
accurately. And you don't have to give your
names. I think she will know that because she
can see the names, but --
MR. VORESS: Would you like to have the
sound system on?
MR. RAND: Why don't you sit at the
desk here?
THE COURT REPORTER:
all your names from here.
I can't.
right?
Well, I can see
If I sit too close,
MR. ROBERTS: Can you hear us all
THE COURT REPORTER: Yes.
MR. ROBERTS: All right. Let me say
that obviously I think that the subject of
this meeting is three -fold. One, I think that
there needs to be a discussion of, one,
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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whether you want to settle.
Then secondly, I think that if that is
decision is reached, that first we go to the
parameters and the agreement. And you've been
provided a copy of the proposal made by the
R.T.C. and also the draft proposal that I have
made. I have those too, and if you wish to,
we can go down them item by item and discuss
those.
And then thirdly, the money -- or
secondly the money to be offered. They want
five point five million dollars. I think
that, you know, a counter-offer should be
made.
And then fourthly, if a counter-offer
is to be made, depending on how much it is,
then how the Commission would best feel fit in
raising that money, okay?
MR. VORESS: Let me add one thing,
Rusty. As you and I talked, I think the
majority of the write-up that you have in this
proposal, this settlement stipulation, has to
do with the RPUD --
MR. ROBERTS: Right.
MR. VORESS: -- and support of that, if
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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we get an agreement. The piece that has to do
with the money is like a one -sentence thing
because you have not filled that out by
design.
MR. ROBERTS: Right.
MR. VORESS: And so I would suggest
that once we talk about, first, do we want to
try to reach a settlement? That we next
address the RPUD, the bulk of this document
here. And then we talk about the money after
that, --
MR. ROBERTS: Sure.
MR. VORESS: -- because we'll see how
that kind of a problem might be coming out, if
that's agreeable to everyone, okay?
MR. ROBERTS: Do you want to first take
a vote on whether you want to settle?
MR. VORESS: I think we can ask the
Commission.
MR. AUGUSTEIN: Do you want to start
with me? Definitely.
MS. MARIANO: To attempt it is --
MR. ROBERTS: Well, let's put it this
way. Let me suggest that somebody move that
we make a response to the settlement offer
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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made by R.T.C.
MR. RAND: I make such a motion.
MR. PAUL: I'll second it.
MR. VORESS: All in favor?
ALL COMMISSIONERS: Aye.
MR. ROBERTS: Okay. Now, once we have
done that, then I suggest that Mary Ann has
said that we go through the settlement
stipulation and see if this is acceptable or
what changes need to be made.
MR. VORESS: Let me ask a couple just
logistical questions. I know John has got a
bunch of things, I can see on the front of his
page. I've walked through mine and marked it
as I went all the way through. I don't know
how about the rest of you.
Dave, how have you done yours?
MR. AUGUSTEIN: I've read it twice.
MR. VORESS: Do you have questions as
you walk through it or do you --
MR. AUGUSTEIN: I have no problem with
it.
MR. VORESS: Okay. Arthur, have you
any objections?
MR. EYPEL: I went through and my
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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questions are as you went through it.
MR. VORESS: Okay. Bill?
MR. PAUL: Can we go back? Can I jump
ahead and say that I assume that there are no
questions about the recital portion?
MR. VORESS: Well, we can ask that
question.
MR. RAND: I have a question about the
recital.
MR. ROBERTS: Okay.
MR. RAND: Is it necessary for us to
rehash what took place before? Is that always
part of a settlement?
MR. ROBERTS: Okay. The reasoning
behind the recitals is that I think that from
a legal standpoint we recognize, as well as
they recognize, that if they want to build
something within the parameters that they have
discussed of 425 units, they may run into a
problem with concurrency and consistency, the
requirements that have been instituted by the
State Legislature since, you know, 19 -- the
early 1980's when this was originally
proposed.
And the reason for all of these
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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Z
recitals really boils down to these terms in
the last whereas. The Parties agree that:
development pursuant thereto has commenced and
is continuing in good faith.
All right, that particular provision is
a term of art taken from the Statute, okay?
The Statute, and I don't know that particular
number, but I'm sure you're familiar with it,
concurrency says, you know, there can't be any
development unless it's consistent with a
comprehensive plan, unless you have the
services of an infrastructure there available
before you do it.
Now, this particular development
doesn't particularly recognize that. And one
might suggest, either a citizen, the
Department of Community Affairs, or somebody,
that you are allowing them to build something
which, number one, violates your comprehensive
plan; and two, has never been approved by us.
Now, that Statute 163.31678 allows for
an exception. And that exception is that if
there is a vested right involved and that
vested right, and that's why there's so much
language in here about vesting and vested
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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right. It says that this will allow an
exception to a vested right.
So part and parcel of that is that this
continuing in good faith, while they're out to
that is that we have have had that, and we
would have continued in good faith had it not
been for the actions of the Town that we had
to take to Court.
So therefore, it's seemingly necessary,
because this document, once the document --
the settlement agreement, once finally
executed, will become public record and it
will be filed in the Federal Court, and it
will a public record, and it will probably see
a lot of use through, as they go through
various boards and other agencies that say,
hey, this doesn't meet State Statute and
whatever. And they say, no, I've got a
Federal Court judgment here that says I've met
all your requirements. Now, do you want to
take me on and fight about it or not, okay?
And that's what that is for.
MR. VORESS: Okay.
MR. ROBERTS: They had language that,
you know, really was kind of insulting to the
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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Town. I think I've minimized that --
MR. VORESS: You have.
MR. ROBERTS: -- by taking a lot of
that out.
MR. VORESS: You have.
MR. ROBERTS: But it really is
necessary on their part to make it like that.
MR. RAND: Is this our draft now, what
you're giving here now? Is this what you
prepared?
MR. ROBERTS: This is what I've
prepared.
MR. RAND: Or is it their draft which
you have amended?
MR. ROBERTS: A little bit of both.
MR. RAND: A little bit of both, okay.
MR. VORESS: So can we agree we're over
to Page 4, the middle of Page 4? That takes
us through all of the "whereases" and we're at
the "now therefore".
MR. ROBERTS: Unless somebody has some
particular objection to that.
MR. AUGUSTEIN: Well, that's all fact,
isn't it?
MR. PAUL: Yeah, I think it's all fact.
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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MR. ROBERTS: I can tell you that,
number one, the property is more fully
described in Exhibit 1. I looked at their
particular property description and had a
concern about it. I prepared one of my own
which I have here somewhere. But essentially
it follows theirs, but it makes it clear that
it only applies to the property owned by
R.T.C. --
MR. VORESS: And not the Hoffman piece.
MR. ROBERTS: -- and not the Hoffman
parcel. I'm fairly confident, without
checking with a surveyor that Hoffman is not
described in there, because I looked at two
previous property descriptions that I had from
Mr. Groover, and the property in the
description that did include Hoffman said,
plus the south 300 feet, and that's not in
there. But the property description that I
have drawn up and typed is basically theirs,
and specifically excluding the south 300 feet.
Also, the first part of it says the
lots 59, 60, 62, whatever. I've just put in
all or a portion of it, because I haven't gone
back to see which ones those lots are, and
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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whether that's included in there or not. So
it's just not clear. I don't think there will
be a big problem with that.
MR. VORESS: Okay. So this section
really just describes the property and says
that plaintiffs or any of their successors
have a right to continue right on in the
agreement to build on the property.
MR. ROBERTS: Right.
MR. VORESS: That's the --
MR. ROBERTS: You see, that's where I
had the remaining seven acres that were
originally not part of my plans are not
covered. It makes clear that --
MR. VORESS: Very clear.
MR. ROBERTS: -- I mean, I don't know.
Hoffman has reached some deal with the R.T.C.
They've resolved their differences. That's
what we've been told. I don't know what the
deal is.
MR. VORESS: Yes.
MR. ROBERTS: But in order to clarify
and make sure that that's not a part of this
deal, I put that language in that deal.
MR. RAND: Now, we're on Page 6.
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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MR. ROBERTS: Yes.
MS. MARIANO: Five.
MR. ROBERTS: Page 5.
In addition to what I have proposed
here, and again, that's why I need to take
time, I looked over this again, and at the top
of this Page 5 I'm going to an add the
language that approving of this Settlement
Stipulation in compromise and the satisfaction
of the Claims and Judgments.
I think that's an integral part of it,
but I want to make sure that it's clear in
there. And the order that will be prepared
will also indicate that the previous judgments
are clearly satisfied and will make no affect,
and that this is the only judgment or order
that will affect us.
MS. MARIANO: So you're adding two
words, after the word "compromise", you're
adding "and satisfaction"?
MR. ROBERTS: Right.
MR. VORESS: And satisfaction.
MR. AUGUSTEIN: That's on Page 5?
MR. VORESS: Yes, the top of Page 5.
The first sentence.
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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MR. AUGUSTEIN: Where does that first
word come in?
MR. ROBERTS:
"compromise".
MR. AUGUSTEIN:
MR. ROBERTS:
after that.
The first word is
Yes?
Add "and satisfaction"
MR. AUGUSTEIN: As you can see, the
Paragraph A on Page 5 again is a recognition
of this currency problem.
MR. VORESS: Uh-huh. Okay.
MR. RAND: On Page 6, Rusty, my
recollection is that the court, the initial
judgment, indicated that they had five years
to develop this property. That's the five
years that we allegedly took away from them.
So why should we agree to ten? Why should we
give them more than what the court judgment
decreed?
MR. ROBERTS: Well, let me -- you can
put in there anything you want, all right? I
think the thinking of ten years, and that's
what was -- a lot of this is, from my draft is
part and parcel to the draft I did back in
October of 191 which I believe that there had
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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been some discussion about what bill went
through this process. And we went through
mediation and we had a lot of discussions
about what the Town would be willing to do or
what we thought the Town would be willing to
do. And I found after pulling it out of my
file, part of that was a ten-year time frame.
I think from your standpoint, that five
years to them is probably about enough. I
think you heard that from Mr. Coleman out
there that the guy would have to be an idiot
to try and do it in five years. And I think
they recognize it, and that's probably part
and parcel of the settlement too. They
realize that you know, the judgment really
doesn't give them what they want.
MR. VORESS: It's going to take them a
year or two to settle.
MR. ROBERTS: Well, I'm not --
MR. VORESS: This time starts with the
date of the settlement now.
MR. RAND: So why don't we suggest
seven years? I just think ten years is too
long.
MR. AUGUSTEIN: This starts the day of
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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the settlement?
MR. VORESS: Yes.
MR. ROBERTS: Their proposal, if you'll
remember their proposal --
MR. AUGUSTEIN: Or the date of the
property?
MR. ROBERTS: Their proposal stated ten
years from the date that they first sell it to
somebody else.
MR. AUGUSTEIN: That's right.
MR. VORESS: The total piece. The
whole thing. They can sell piece and piece
and piece, but if they hadn't sold the final
piece, the ten years didn't start.
MR. ROBERTS: Right. You're right.
MR. AUGUSTEIN: That can go on forever.
MR. VORESS: It goes on forever. So
this one says, after you sign the document, as
Rusty has it written, it's ten years.
MR. RAND: Ten years from the date of
settlement, not the date of the sale.
MR. VORESS: Right, from that the time
you sign. So they're going to lose a year too
getting it done.
MR. AUGUSTEIN: From the date of the
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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order.
MR. ROBERTS: Date of the order,
whatever. Date of the order, which should
happen fairly shortly after the settlement.
MR. RAND: How do you all feel about
it? Did you want to give them ten years?
MR. ROBERTS: Let me add this to you,
John. Part and parcel to making any proposal
of a settlement is that if you can say,
listen, I'll give you 125 units and three
dollars, okay, you would be wasting your time
doing that. I think you recognize that.
MR. RAND: Right.
MR. ROBERTS: I think that if you are
going to change things in the settlement, you
have to try to match what they're doing as
best you can what you can live with. I agree
with you. I mean, I think most people say the
shorter the better. But I don't think you're
hurt by ten years any different than seven
years, okay? And the reason is because
they're either going to do it or they're not.
MR. VORESS: And I think they're going
to have trouble selling this property, honest
to God.
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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MR. ROBERTS: I can tell you that
having been involved in this over the years,
that back in 1989 when we first reviewed this,
that I think we pretty much agreed that
they're not going to build the RPUD. We
produced in court reams of evidence, if you
recall, that as early 1992 they were not going
to build the RPUD. So that's why we suggest,
give them back the RPUD. Give them back the
5 years, 10 years, 15 years, they're not going
to build it. Whatever they sell it for, if
they get some sucker to come in here and pay
the fifty thousand dollars a year, all the
better for them.
MR. VORESS: Okay.
MR. ROBERTS: But I think as you've
seen throughout the course of building in this
town, builders are only going to build what
the market will buy. And the market is not
going to buy you know, cracker -box, 16 -story
units.
MR. PAUL: Realistically if they sold
that property tomorrow and the guy gets in
there and gets started, it's going to be into
the third year before he's got his plans for
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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engineering and stuff before he can probably
even start putting something in the ground.
MR. VORESS: He's not going to get the
environmental permits. I can tell you that
right now.
MR. RAND: And the R --
MR. VORESS: And the Corps of
Engineers.
MR. PAUL: So I would suspect we would
be spinning our wheels to try an lower the
10 years.
MR. RAND: So we'll leave it at 10,
okay..
MS. MARIANO: I think I just want to
say one thing here too. I think as we go
through this, we need to more focus on those
things which really make a difference with
regard to the damage issue. Some of these
building parameters may not make a difference
as to whether they take it or leave it. I
think if we're going to raise our sword, raise
it to the issues that really make a difference
to us.
MR. RAND: Okay.
On Page 7 -- Are we up to 7 now?
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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MR. ROBERTS: Yes.
MR. RAND: My question is, if the
property is sold as indicated, if it's sold
piecemeal, what density limits apply to each
parcel? We're talking now of density
applicable to the entire subject. But if they
sell this piecemeal, how do you deal with the
density per each parcel?
MR. ROBERTS: Well, the only way you
can deal with the density on each parcel is by
the other restrictions. How much you can
build on that parcel as far as height, okay?
This agreement is not structured to say
that you can build no more than 25 units on an
acre. You can certainly put that in if you
wanted to. But on the other hand, the only
way you're going to get more units on an acre
is go up. And you've got a restriction that
you can't go anymore more than three 16 -story
buildings.
MR. VORESS: And you've got a
square -footage consideration.
MR. ROBERTS: Well, we've got a
square -footage restraint here. They didn't
have one.
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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MR. RAND: They didn't have it. We're
putting that in.
MR. ROBERTS: We're putting that in.
MR. VORESS: And this also prevents --
because you have to do the parameters, the
RPUD prevents anybody from buying the
ocean -front piece, which is saleable
yesterday, from putting a 16 -story office
building on that thing.
MR. ROBERTS: I don't think there was
any question. There's not going to be any
commercial development.
MR. VORESS: Okay. A 16 -story condo is
not going on that ocean -front piece because it
says what it will be. Specifically it will be
a beach house, some other thing along the
ocean, and up to three 10 -foot units.
MR. ROBERTS: That's what's in my
proposal.
MR. VORESS: That's what's in there.
MR. ROBERTS: In their proposal, they
didn't have anything.
MR. VORESS: Right. We don't want
that.
MR. ROBERTS: Right.
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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MR. RAND: But on Page 7 on the bottom
there, about the sixth line from the bottom it
says, "the legal descriptions of the parcel of
The Property transferred and the remaining
portion of The Property, and (ii) the Units
allocated to the parcel of The Property
transferred and the Units still applicable to
the remaining portion of The Property."
MR. ROBERTS: Right.
MR. RAND: In other words, it would be
ridiculous. If they buy two acres, they could
put 200 units on there if they could fit it.
MR. ROBERTS: But as I say, there's a
limit there as to the height, you know.
MR. PAUL: Then those units are wrong
for the rest of the property.
MR. RAND: Yeah.
MR. PAUL: That's an internal decision
they're going to make if they break it up into
parts. They're going to have to decide how
that goes.
MS. MARIANO: And it may not physically
be possible to put that much square footage
per unit in 16 stories.
MR. RAND: Yeah, but I'm concerned now
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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if you sell the property piecemeal, you're
going to have different owners. And the
question is what unit allocation will they all
be satisfied with? I mean, one might say,
this guy has got 50 allocated to this parcel
and you're only giving me 20.
MS. MARIANO: That's not our problem.
MR. VORESS: That's not our problem.
MR. ROBERTS: That's not our problem.
MR. AUGUSTEIN: The only difficulty I
see with this arrangement is if they do sell
it off piecemeal, there will be no uniformity
in the development, but again that's not our
problem.
MR. ROBERTS: Right.
MR. VORESS: We're really saying RPUD
or a reasonable modification thereof. They've
got to stick to that, what you've got in here.
MR. ROBERTS: Well now, they can build
either the RPUD or something else. They don't
have to build the RPUD.
MR. VORESS: No, that's right. I
agree.
MR. AUGUSTEIN: But they're limited to
427.
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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MR. ROBERTS: Right.
MR. VORESS: Yes, but they're limited
to 427.
MR. EYPEL: If I could back up one
minute. John, I don't think that giving the
property up or a parcel on the property for
sale would be a logical course for them,
because it's going to be worth far less in
little pieces than it is --
MR. RAND: As a whole.
MR. EYPEL: -- as a whole.
MR. RAND: You're probably right.
MR. EYPEL: So I wouldn't be as
concerned about that happening really.
MR. ROBERTS: That's especially when
you've got a marina there.
MR. EYPEL: Right.
MR. ROBERTS: You do have already
built-in amenities.
MR. VORESS: On Page 8, Rusty, you say,
"The Defendant shall be directed to issue from
time to time after application therefore, as a
ministerial act, any development order or
development permit." What does that mean?
MR. ROBERTS: Well --
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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MR. VORESS: What are they going to
have to do periodically? It's on Page 8 here.
MR. AUGUSTEIN: "B" are you speaking
of?
MR. VORESS: "B", yes, under "4-B".
MR. ROBERTS: Well, quite frankly, I
don't know. I mean, I'm not into what
163.3164 is. Do you know what that is,
Charlie?
MR. SCHOECH: Unh-unh.
MR. ROBERTS: I think the division is
any permits or approvals that they might need
to do for development for some other agency.
I mean, if it requires them to get a building
permit, then you're going to issue it.
Now, this "as a ministerial act", that
is a term of art that, you know, if I present
it to you and it's in proper form, you've got
to issue it. You don't have any discretion.
And if you don't, then I can get an order from
the judge ordering you to do it.
MR. VORESS: Let me ask Mary Ann that
real quick.
Suppose Mary Ann, that they have to go
to the Corps of Engineers or someone else to
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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get a permit outside of the Town of Palm
Beach, the State or Federal whatever it is,
does this mean they would then come back into
us as a Town and say you have to give us a
piece of paper that gives you approval? Is
that what this is saying?
MS. MARIANO: To me in reading this "as
a ministerial act" means in a lot of cities
development permits must go through the
Commission, must go through the City Council
and also other things. What this is saying is
that we do it almost in an administrative
function, that they bypass all of the other
little nuances that some development permits
have to go through, that we have already
approved this development as a Town
Commission.
MR. VORESS: Okay.
MS. MARIANO: So when they come in to
get their permits, we don't have to go back
through the route that permits take on. A lot
of cities go through all the development
permits.
MR. VORESS: Okay. You don't have any
problem with that?
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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MS. MARIANO: No. No. I think we
still have protection under our own code. I
don't think this means that we can give a
permit where the State has denied them
something.
MR. VORESS: Good. All right. We
couldn't do that.
MS. MARIANO: We can't do something
that the State has not permitted.
MR. VORESS: Okay.
MR. AUGUSTEIN: I believe that's taken
care of later on.
MR. VORESS: Yeah.
MR. ROBERTS: All right. Now, on Page
8, Number C --
MS. MARIANO: Yeah, I have a question
about that.
MR. AUGUSTEIN: Yeah, I wanted to know
about that too.
MR. RAND: What it is?
MR. ROBERTS: 8-C.
MR. RAND: I don't know.
MR. ROBERTS: It's actually Paragraph
4-C, but it's on the bottom of Page 8.
Paragraph C. Sam Daniels reviewed this and he
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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called me and made the following comment, that
he didn't think that the Town could contract
away their police power in the future.
MS. MARIANO: I agree.
MR. ROBERTS: And I agree with that
statement. And the difficulty involved here
is that the R.T.C. wants some protection that
this agreement will just not be voided by this
Town Commission or some subsequent Town
Commission coming out with some concern that,
for instance, you building 400 units -- you
come with a site plan for 427 units, and some
Town Commission says, well, that would cause
us a real problem with hurricane evaluation.
Therefore I'm going to deny you a permit
because I can't have any more units in town.
I think that there ought to be
something in there, but I don't like the
particular language there that has been
employed.
MS. MARIANO: I didn't look at that
as -- I looked at it as just suppose somewhere
down the line something toxic has been found
that is a health issue. What if there's some
toxic chemical that is found in the mangrove
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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there --
MR. RAND: Radon.
MS. MARIANO: Right -- that is an
actual health issue. And we've said that
we're estopped from asserting any of those
concerns in the future.
MR. VORESS: But if that's the case,
Mary Ann, if it's radon or anything that's
Federally regulated, that's up to the Federal
Government, so you can't do anything. That's
not in our Town. That isn't a Town's
position. If they find the gardener snail
there -- you know, we don't have anything to
do with gardener snails, but, boy, the State
does right know.
MS. MARIANO: Do they have jurisdiction
over the entire park or do they just come up
to a certain line? Like I know DNR --
MR. VORESS: No, they have -- they, on
Federal -- well, those compounds that have
toxic hazards, the Federal Government has the
right to do that, and they delegate power to
the State. The State in endangered species
and some of these other things, they declare.
That's their thing. You get the toads that
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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were out here that were stuck in the building
somewhere or whatever, that doesn't belong to
the Town. That belongs to the State. I don't
think that's a problem, frankly.
MR. ROBERTS: Well, the problem I see
with this provision is that it is somewhat
inconsistent with the other provision which
says the life safety code is applicable. I
think a sharp attorney, Mike, came in and
argued that if you said, hey, your proposed
building plan doesn't meet the life safety
code. And he goes, well, here it says you're
estopped from asserting any concerns which
limit by right of safety which result in the
rights to exit this development.
MR. VORESS: Right. I mean, like it
might blow down in a hurricane?
MR. ROBERTS: Right. You don't have
proper foundations or something like that.
That's a concern. I know what their concern
is, but I know what my concern is too, that
this is inconsistent with the life safety
code.
MR. AUGUSTEIN: Well, one moment.
Will it suffice to say no overriding concerns
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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exist now, and take out the health, safety,
welfare? We can't guaranty those.
MR. ROBERTS: Yes, I mean --
MR. RAND: How do you guaranty what's
beyond your control?
MR. AUGUSTEIN: Right.
MR. ROBERTS: Well, I think you can see
their point. They don't want you to come in
here and adopt a more -- well, if they're the
only vacant lot in town here in five years,
which may be a possibility, and you come in
and say, gee, we don't have any more water, or
we don't want to spend anymore water, so we're
going to put a moratorium on building permits.
And I'm sorry, you guys are just tough out of
luck because you didn't build in the first
five years.
MR. AUGUSTEIN: That's taken care of
again too. We have to guaranty that.
MR. ROBERTS: Well, okay. But let's
talk about something else. You know, we don't
want to hire anymore policeman, and so if we
don't have anymore building, or the traffic is
too much out here, so we don't want to grant
you things because there's too much traffic on
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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AlA, okay? That's what their concern is, that
there isn't some of these esoteric reasons
that have been tied to the police power over
the years in zoning used for that. My concern
is that the code applies. So you know, I
think perhaps --
MS. MARIANO: Can you break it out from
structural to service-oriented things, or to
give them I guess the guaranties they need
that we're not going to say something
structural is going to affect it. See, I was
looking at this totally different.
MR. ROBERTS: Well, my suggestion is to
just take it out right now.
MR. PAUL: I was going to say, is there
any reason we can't just take it right out?
MR. AUGUSTEIN: Take out "C"?
MR. ROBERTS: They've got a lot of
other language in there that --
MR. VORESS: Well, let's go on and see
what happens.
MR. AUGUSTEIN: Do you want to take out
entire "C"?
MR. ROBERTS: Take out entire "C" and
what see what happens.
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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There's another provision in there that
says we won't adopt moratorium.
MR. AUGUSTEIN: Right.
MR. ROBERTS: There's another provision
that says we've got to get building permits.
There's another provision that deals with
water. And you know, beyond that, I don't
think we can stop it.
MS. MARIANO: I don't think we should
stop if that's going to be a deal -breaker.
Maybe we ought to look at putting it back in,
because I think because of what they
expressed.
MR. AUGUSTEIN: Well, let them request
it.
MR. SCHOECH: As I understand it, all
of this applies to their initial development
of the property. That if the property is
developed in say, five years and there's a
ten-year period and a hurricane comes through
and destroys it, and they come back in to
rebuild something, they're then under the new
codes completely.
MR. VORESS: Yeah.
MR. ROBERTS: Unless it happens before
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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ten years.
MS. MARIANO: No, no.
MR. SCHOECH: I'm saying if it happens
before the ten years.
MS. MARIANO: No. It could happen in
20 years. In this town, we have an ordinance
to protect buildings that were built under the
code in cases of a hurricane or national
disaster, you can rebuild what was there
originally.
MR. SCHOECH: Okay.
MR. VORESS: Yeah.
MR. ROBERTS: Okay?
MR. RAND: Well, if they balk at it,
let them come up with something else.
MS. MARIANO: Yeah. We don't want to
take those rights away from them.
MR. PAUL: Well, in here several places
we're really not going to do anything
obnoxious to stand in their way.
MS. MARIANO: Right.
MR. PAUL: We're not going to hinder
them purposely or --
MS. MARIANO: Right.
MR. AUGUSTEIN: Lesson D.
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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MR. RAND: Well, my question on the
comprehensive plan, they talk about modifying
the comprehensive plan. I think that's on
Page 9. When do we modify the plan, and
suppose the County refuses?
MR. VORESS: Well, it's the State, but
there is a procedure.
MR. RAND: Is it State or County?
MR. VORESS: It's State.
MR. RAND: It's State?
MR. VORESS: DCA. It's State. Rusty
covers that very thoroughly in another section
down here. Is that not correct, Rusty? On
the comprehensive plan, how do we do that?
MR. ROBERTS: Right. There's a
provision on Paragraph 12 that says as a part
of the next scheduled review of the current
land, the Defendant shall amend it constantly
as it applies to the property.
MR. VORESS: Right.
MR. RAND: Right. But this says shall
be modified, but we don't make provision for
the fact that it might be refused. Then what
do we do?
MR. ROBERTS: Well, if it's refused, so
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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what, okay? Here's the point of the matter.
That this is going to be a part of a Federal
Court judgment, okay? And if the State
refuses it, then that's their problem.
MR. VORESS: They can fight with the
courts.
MR. ROBERTS: They can, you know, take
the State to court or whatever, so long as the
Town just doesn't refuse to do it, okay? I
mean, your only obligation in their
development would be to issue the permits and
let them do that, okay. And if you modified
your comp. plan and the State refuses to
accept it, then sobeit.
I mean, as long as you use your best
efforts which it says you cooperate and say,
here's the plan and here's what I'm required
to do by the Federal Court, and if the State
refuses to do it, it's out of your hands.
That's part of the provision that they had in
their agreement, that if the State should
refuse to do it, then you know, we've got our
eighteen million returned back. With that
out, then that's just not our problem. If
they come back and say, even though the State
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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permitted the comp. plan, I still want my
permit, give it to them, okay?
MR. RAND: So that's DCA you said?
MR. VORESS: Yes, DCA, Department of
Community Affairs.
MR. RAND: DCA. Where are we now, Page
10?
MR. VORESS: Well, Page 9, starting
with 5 and going through there just talks
about how we're going to do all this stuff,
Rusty; is that right?
MR. ROBERTS: Correct.
MR. SCHOECH: On Page 10 in the middle
of the page where you refer to the Southern
Standard Building Code, --
MR. ROBERTS: Right?
MR. SCHOECH: -- are you talking about
the code that was in effect earlier, or the
code that's in effect at today's time frame.
MR. VORESS: At the time of building.
MS. MARIANO: Whatever the current code
is at that time.
MR. SCHOECH: Then it should just be
the Standard Building Code, because they've
amended their name.
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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MR. ROBERTS: Have they?
MR. SCHOECH: Yes.
MR. ROBERTS: Is it Standard? Okay.
MR. EYPEL: I have a question, Rusty.
On the middle of Page 10, where it says, "the
Development includes no more than 427 Units on
the entire property and is built in accordance
with the RPUD or the Development Parameters."
Is that, when you refer to the "entire
property", you're talking about their
interest, their portion of the entire
property? That does not include Mr. Hoffman's
seven acres?
MR. ROBERTS: Well, we can change that
so it's clearer and say "units on the
property." Leave out "entire".
MR. VORESS: Let me get back to this.
MR. ROBERTS: And I'm going to add, is
it built in accordance with the RPUD site
plan.
MR. RAND: The RPUD site plan?
MR. ROBERTS: Right, or the development
parameters.
MR. RAND: Okay.
MR. VORESS: Mary Ann, I believe we
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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have higher standards for windows in this Town
for hurricane protection than the Standard
Building Code; is that correct? We're 140
mile -an -hour wind --
MS. MARIANO: Yes.
MR. VORESS: -- standards here.
And the Building Code is like 120.
MR. SCHOECH: Have you adopted the
County -wide amendment to the Standard Building
Code?
MS. MARIANO: Yes.
MR. SCHOECH: I think most
municipalities have, so you may want to
reference the County -wide amendments to that
code, if that's necessary.
MR. ROBERTS: I'll put, the Development
shall also be in conformance with the current
Standard Building Code including any
County -wide amendment.
MR. SCHOECH: Yes.
MR. RAND: Including any --
MR. SCHOECH: They are rather
significant, that's why.
MR. VORESS: They have tightened up
very much.
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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MR. SCHOECH: Yes.
MR. RAND: What's the wordage on that,
including any County --
MR. SCHOECH: County -wide amendments.
MR. RAND: County -wide amendments.
MR. VORESS: We had the trouble in this
Town with more than 140 -mile -an -hour winds.
Okay.
MR. ROBERTS: Yes. And it says, "and
the Life Safety Codes in effect at the time
the Development --
MR.
RAND:
You're on
Page 11 now?
MR.
VORESS:
Uh-huh.
MR.
RAND:
On Number
6, it doesn't
say --
MR. VORESS: We're going to do that
last.
MR. RAND: Oh, do that last? Okay.
MR. VORESS: Yes.
Impact fees. What we're saying here,
what they had before, they had a number like
thirteen hundred or some other number. You're
saying here they'll be, everything, whether
they're building, planning, zoning, whatever
the fees are, they will do whatever. They
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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will pay whatever costs were appropriate in
1985, right?
MR. ROBERTS: Right.
MR. VORESS: Right.
MR. ROBERTS: And Mary Ann seemed to
think that they were higher than thirteen
hundred.
MR. VORESS: Yeah, I know she did.
MS. MARIANO: They were higher than
thirteen hundred a unit.
MR. VORESS: And no impact fees are due
until the construction of any amenities on the
property. Was that in the original?
MS. MARIANO: Yeah, where did that come
from?
MR. RAND: What do they mean by
"amenities"?
MR. ROBERTS: Clubhouses.
MR. VORESS: Clubhouse, tennis courts.
MR. ROBERTS: Swimming pools.
MR. VORESS: Swimming pools. I don't
have any problem with that.
MR. PAUL: I wouldn't impact the number
of school kids or auto trips.
MR. VORESS: Okay.
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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■
MR. ROBERTS: I think the thought was
that it wasn't going to be a significant
figure, so what's the difference.
MR. VORESS: Okay.
MR. AUGUSTEIN: The amenities are all
listed in here somewhere, if I remember.
MR. VORESS: Yeah, they are.
MR. ROBERTS: The amenities are listed
on there.
MR. VORESS: They're listed on Page B
-- or Exhibit B. Dave.
MR. RAND: The approval procedure back
on Page 11, it makes reference, pursuant to
the procedure set forth in Town of Highland
Beach Ordinance Number 580. What does that
ordinance deal with?
MR. RO.BERTS: Settlement litigation.
MR. RAND: Settlement litigation?
MR. VORESS: Rusty, should we say in
here -- is it appropriate in here, I gather
from listening to Jim Neehaw (phonetic) talk,
that we want to ask the court to order us to
pay this to them. Should we say in here that
there be something that we ask the Court to
order us to pay?
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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MR. ROBERTS: Well, this settlement
stipulation will be a Court Order.
MR. RAND: That's what's going to be
produced.
MR. VORESS: Okay. So we don't need to
say anything here, we order them to pay?
MR. ROBERTS: The Court Order will
approve the settlement and appropriate it as
an Order of the Court.
MR. VORESS: Okay. So we don't have to
do the -- we don't have to go to resolution --
I mean, to the referendum to approve a tax
increase?
MR. ROBERTS: Yes. That's problematic.
As I indicated to you in the other session,
the case of Missouri versus Quest seems to
suggest --
MR. VORESS: That we --
MR. ROBERTS: -- that the Court can
order someone to pay if they agree to it.
And --
MR. VORESS: Okay.
MR. AUGUSTEIN: That will be a
mandatory raising the millage?
MR. ROBERTS: Again, what the cases
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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seem to say is that what I think the Federal
Court will do, in any event, is that if you
didn't do anything and you had a twenty
million dollar judgment, they would come back
to you. The Judge would say, I'm going to
order a status conference. You tell me how it
is you would like to pay it, and I'll decide
whether I agree with you or not listening to
what your opponent says, whether that's no
good or whatever. I think they're going to
give you the first opportunity to decide how
it best could be done, okay?
MR. AUGUSTEIN: Okay.
MR. ROBERTS: And if you submit it and
they don't like it, and they do it. I don't
think the Federal Courts are going to order
it, because none of these cases suggest it.
It all has to be done once, especially
considering who's on the other side, the
Federal Government, who is certainly not going
to go broke for the loss of twenty million
dollars.
MR. AUGUSTEIN: As long as both sides
agree to the amount so all this isn't a mess.
MR. ROBERTS: Well, and I think that
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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what happens is, who is going to argue against
it?
MR. VORESS: I think that's a good
point.
MR. AUGUSTEIN: Right.
MR. ROBERTS: Okay? How many taxpayers
do you have in town who think they're going to
take on the Federal Government in Federal
Courts to file an action to say, no, I
shouldn't do it this way?
MR. VORESS: On Page 13, Rusty, you've
got us going back to the Magistrate.
MR. RAND: I've got --
MR. VORESS: Have you got something
else?
MR. RAND: I've got something on
Page 12.
MR. VORESS: All right. Okay.
MR. RAND: In the middle of the page on
Item B, it says, "The Town agrees to work
expeditiously to effectuate the Required
Amendment, including retaining all necessary
consultants and attorneys and making all
required submissions and replies to any
governmental authority having jurisdiction
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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over such Plan."
Isn't that somewhat ambiguous?
MS. MARIANO: We did that anyway.
That's where Gene Jensen came in and did our
plan anyway. That's just normal procedure on
any comp. plan amendment. So that's no
different. We're not stating it any
differently. We're not doing it any
differently than we did.
MR. PAUL: We're not -- we're saying
we're going to do it the next time and have
you do a special --
MR. VORESS: No, we're going to do it
the next time.
MR. MARIANO: Right.
MR. PAUL: So we'd be saying that any
way, wouldn't we?
MS. MARIANO: Yes.
MR. PAUL: Except there would now be a
procedure --
MS. MARIANO: Rather than paying that
twice.
MR. PAUL: Sure. Yeah.
MR. ROBERTS: In their proposal they
wanted to do it started immediately, if you
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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may recall, and we hammered it down to 270
days.
MR. VORESS: That's right. And we said
we weren't going to do that.
MR. ROBERTS: And of course, you know,
if you didn't hire the attorneys or
consultants to do it, then it wouldn't get
done. So they threw that in here. And of
course, John, we all have to eat too, you
know.
MR. RAND: On the last -- on the bottom
of Page 12, I'm referring to Paragraph C on
the bottom of Page 12. "The requirement for
the Town to amend its Comprehensive Plan
pursuant to this agreement shall not preclude
an Owner from commencing Development prior to
such amendment in reliance upon the Resolution
and/or the Vesting." When do we have to file
our next Comprehensive Plan?
MS. MARIANO: I think it's 1997, but
I'm not sure.
MR. VORESS: Two years. Two years from
now.
MR. RAND: So even though this building
would be contrary to the Comprehensive Plan
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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presently on file with the State, they still
could build --
MR. VORESS: Could start.
MR. RAND: Well, if they start, they
can build.
MR. VORESS: Uh-huh.
MS. MARIANO: Yes.
they could still do it.
The answer is yes,
MR. RAND: The answer is "yes"?
MR. VORESS: Yes.
MR. AUGUSTEIN: Well, commencing
development, I guess that does mean building.
MR. ROBERTS: Well, if you look at it in
this context, if we had not appealed their
order, they could have started in 1992,
because that judgment allowed them to do that
irrespective of any other State requirements
and local requirements. So I'm just getting
it from a typographical sense or a semantic
sense that a change is reliant upon this
agreement or the resolution of that to make
sure that the resolution is on there.
MR. VORESS: Okay. The next one has to
do with this Magistrate. Do you think that's
what we ought to do?
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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MR. ROBERTS: Well --
MR. VORESS: I guess that's why we rely
on you to give us some guidance.
MR. ROBERTS: Yes. Here's my thought.
I mean, originally their proposal was that
they wanted to go back to the judgment. And
then, of course, they dropped that, and now
they want to go back and get damages, all
right?
MR. VORESS: Okay.
MR. ROBERTS: Now, if you look at it
realistically, what damages? Let's say, for
instance hypothetically, that they went back
and said, I've been delayed in getting my
project done, what would be their damages?
Okay? They would be back making the same
argument they made in the trial of this
matter, that you know, I've lost this --
MR. VORESS: Profits.
MR. ROBERTS: -- you know, profits, and
making all these arguments upon an expedited
motion. So my concern was when you leave a
broad area of damages out there, you expose
yourself to potentially the same sort of
result you had before.
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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So in order to at least give them
something for their time, to make it worth
their while, to give them some comfort, also
to give them some comfort that the Town knows
in advance that if they deny a permit or want
to screw with these people, they know what the
price is going to be, okay?
The price is going to be you're going
to pay so much a day from that day until it's
resolved. So to me, I mean, that's really
kind of what you do in construction, you just
say, I want to be done by this date, and if
you don't do it, you know it's going to cost
you.
MR. VORESS: Okay.
MR. ROBERTS: And that's why I suggest
that. Now, what is the figure?
MR. RAND: One thousand dollars?
MR. ROBERTS: Yeah, I mean, that's why
I put two figures. I kind of calculated these
up and I don't know what I did with my figures
here, but they're at eight thousand dollars a
day on their judgment, which was one figure,
okay? How much was it? What's the interest
and float? I think on the value of a property
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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at seventeen million, the float per day would
be, you know, pretty substantial. We thought
it was worth six million. I think it was two
thousand dollars a day at six million, okay?
The float on that was 7 percent.
So you could be real cheap, but they're
going to come back and go, listen, my carrying
-- the developer's carrying costs on buying
this at 7 percent is two thousand dollars a
day, okay? And if you're delayed, he's paying
that. So why not put it at something like one
thousand dollars a day?
MR. VORESS: Okay.
MR. ROBERTS: That's a substantial
figure, but you're dealing with substantial
property.
MR. VORESS: Right. And a cap of how
much?
MR. RAND: And a cap of how much, three
hundred sixty five?
MR. ROBERTS: I would say --
MR. VORESS: Two hundred fifty?
MR. ROBERTS: Well,
MR. RAND: One thousand dollars a day
and then --
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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MR. VORESS: Two hundred fifty? Well,
that would last a year, wouldn't it?
MR. ROBERTS: Well, that's the thing
that --
MR. VORESS: Okay.
MR. ROBERTS: You're tied into the --
well, I would say no more than -- well, what
can you afford in a year?
MS. MARIANO: Depending on what we put
in Number 6, doesn't it?
MR. VORESS: Uh-huh.
MR. ROBERTS: Well, how about no more
than a hundred thousand dollars, or obviously
more than fifty thousand dollars, something
like that.
MR. VORESS:
incident.
MR. ROBERTS:
MR. VORESS:
MR. ROBERTS:
year.
MR. VORESS:
incident.
MS. MARIANO:
though.
This is just for one
Yes.
Yes.
Well, no. This is per
Well, this is for the
That's not what it says
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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MR. RAND: Sixty days would be more
what I would say, sixty thousand dollars.
MR. ROBERTS: Sixty thousand dollars,
that's a good figure. Okay.
MR. AUGUSTEIN: Would it say that this
is because of our fault or any fault?
MR. VORESS: Uh-huh.
MR. ROBERTS: Yeah.
MR. VORESS: If we're found guilty.
MR. ROBERTS: Well, if we're found
guilty of delaying them, and I think it's
consistent with their desire to get it
expedited and done, you know, it's going to be
sixty thousand dollars.
MR. AUGUSTEIN: I don't see where we're
named in there.
MR. RAND: You don't see what?
MR. AUGUSTEIN: Where the Town is
named.
MR. VORESS: Well, the Defendant has
adopted or taken action.
MR. AUGUSTEIN: The Defendant?
MR. VORESS: Yes, up on 9-A.
MR. AUGUSTEIN: Yes. I'm speaking of
B
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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MR. ROBERTS: I know. But it says in
"A", "In the event that the Plaintiffs or any
Owner alleges that the Defendant has adopted
any ordinance or taken any action, which has
in any manner materially impeded, interfered,
impaired, or stopped development of The
Property ..." they can go to Court and they
agree that Magistrate should have the power to
order.
I don't know that there's any provision
in here that would allow you to go to the
Court to do anything to them, so I guess by
process of elimination. I mean, we could
certainly clean that up. I could put --
MR. RAND: Payment by.
MR. ROBERTS: -- payment by Defendant
of liquidated damages.
MR. AUGUSTEIN: Right.
MR. RAND: Payment by defendant, right.
MR. ROBERTS: Right, okay.
(Thereupon, there was an interruption
in the proceedings.)
MR. ROBERTS: And just for purposes of
the record, the court reporter has changed her
paper and nothing has been said while she was
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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doing so.
Okay. Go ahead.
MR. RAND: Unfortunately I didn't put
down the relative page number, so I don't know
whether this is going to be covered later on
or not, but I'm just curious to know, the
release of all parties, I take it that this
were to go on an official and personal level?
Because I don't see any notation to that
effect.
MR. AUGUSTEIN: What page are you on?
MR. RAND: I don't know what page it
is.
MR. VORESS: We're not there yet.
MS. MARIANO: We're not there yet.
MR. ROBERTS: We're getting there.
MR. RAND: And then the other one I
have is Page 15. The other one I have is
where does it say that the property developed
and completed within the time limit specified,
that whatever ordinance is in force at that
time is then applicable to zoning and the
fees?
MS. MARIANO: A reversion?
MR. RAND: Does it say that
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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specifically?
MR. ROBERTS: It says that -- I don't
know whether it says that specific language
that you've used.
MR. RAND: It says that they have ten
years to develop the property from the date of
the agreement, but it doesn't say that after
that ten-year period then the zoning --
MR. VORESS: Yeah, it does. Somewhere
it says it goes back. Yeah, it goes back.
MR. RAND: Does it?
MR. AUGUSTEIN: It's on there
somewhere.
MR. ROBERTS: I think it's Paragraph 3
on Page 6.
MR. RAND: Page 6? Okay. Let's see.
MR. ROBERTS: I think Paragraph B.
MR. RAND: Okay. It's covered. I see
it. You're right. You're right. Thank you.
MR. ROBERTS: Uh-huh. Okay.
MR. VORESS: Okay, 13-C just merely
says that we agree that the Magistrate is
going to be in control, right?
MR. ROBERTS: Right. And it's going to
be non -jury.
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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MR. VORESS: Right.
MR. ROBERTS: And I'll express to you
that you saw what can happen at a jury trial,
so I don't think it really hurts us to go to a
Magistrate.
MR. VORESS: Yeah, right. Okay.
MR. ROBERTS: And I don't think we're
going to have our friend, Mishler, sitting as
the Magistrate, so that's even better too. It
will be a U.S. District Judge.
MS. MARIANO: What about Seltzer?
MR. ROBERTS: Well, we can have Seltzer
or we can Vitunac. They move around. Seltzer
is really lodged in Fort Lauderdale, so --
MS. MARIANO: Good.
MR. ROBERTS: I don't think that's a
very offensive provision, quite frankly,
because it allows for a quick determination.
And quite frankly, I think you'd want a quick
determination and opinion. If they claim
something went wrong, let's get it done and
get it over with.
MR. VORESS: Get it fixed and get on
with it.
MR. ROBERTS: Get it over with. If we
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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think that we're right, we'll go there and
we'll get it done quickly. So I really don't
have a problem with that, especially when the
winning party is going to get attorneys' fees,
okay? So let's get it done and get it over
with, and that's a quick way to do it and I
just wholeheartedly agree with that.
MR. PAUL: I do too in the effect that
we're going to go through this. We're
possibly sticking our necks out for the Town,
and we don't want somebody coming after us and
screwing up the works and get away with it.
MR. VORESS: Let's see.
MR. RAND: Where are we now?
MR. VORESS: I'm over on Page 15 and
the mutual releases.
MR. PAUL: Yeah. I didn't quite get
through Page 14.
MR. VORESS: All right.
MR. PAUL: I still have a little
problem with this term "best efforts".
MR. VORESS: All right. Does that --
MR. PAUL: It still seems like who is
going to define our best efforts --
MR. RAND: Where is that?
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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MR. PAUL: -- or is that just a phrase
we put in there --
MR. VORESS: Twelve.
MR. PAUL: Excuse me? Yes, 12. "The
Defendant shall use its best efforts to
cooperate..."
MR. VORESS: I don't think we want to
define anything in there. Who's going to tell
us what our best efforts are. We're going to
help them if we can. If we can't, we can't.
You know, I don't think we ought to be
definitive in that.
MR. RAND: It's the same thing as to
say to the best of its ability. It's the same
thing.
MR. VORESS: Yeah. Yeah.
MR. PAUL: All right. All right.
MR. ROBERTS: You know, it's kind of my
belief it's sort of semantics. If you are
prohibited from impairing them, anything you
do is then your best efforts.
MR. VORESS: Right. I agree.
MR. RAND: Right.
MR. ROBERTS: I mean, I really don't
think it means anything.
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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MR. PAUL: In other words, like have a
good day whether you mean it or not.
MR. ROBERTS: Yeah. They wanted
something like -- well, I forget what the term
they wanted to use.
MS. MARIANO: They wanted us to
cooperate and --
MR. PAUL: Oh, yeah, go out of --
MR. ROBERTS: And spend every dime and
do all their work and all the stuff like that.
MS. MARIANO: Yes, and cooperating and
cooperating in marketing.
MR. ROBERTS: And also they wanted the
best efforts of all individuals too,
officials, employees and agents. And I've
taken that out and said, no, it's just the
Town that does this.
And to get to your point, John, we've
taken out from this draft everything that
deals with individuals, employees, agents and
officials, okay?
MR. RAND: Uh-huh.
MR. ROBERTS: Because I don't want to
subject anybody individually to any particular
part of this proceeding. It's solely the Town
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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and that's what it's going to be. And I think
that they may want to come back and say that,
but I take that position throughout.
MR. RAND: Okay.
MR. ROBERTS: I don't see how they can
get more than they can get through the
proceedings.
MR. VORESS: Well, that's on Section 14
on Page 15. It says we're all relieved except
for those obligations and matters set forth
coming herein or arising out of terms of this
settlement.
So that says we're all free except...
What is that except, Rusty?
MR. ROBERTS: Well, except for those
obligations and matters, and I'm going to add
"of the Town" set forth herein.
MR. RAND: What are you adding here
now, Rusty?
MR. VORESS: "Of the Town."
MR. ROBERTS: Here (indicating). Okay,
15.
MR. RAND: Except for those
obligations?
MS. MARIANO: And matters of the Town.
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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MR. ROBERTS: And matters of the Town.
MR. RAND: And matters of the Town.
MR. ROBERTS: If you had a general
release and you executed it, that means
you're released of every obligation. So
obviously there are obligations in this
agreement --
MR. VORESS: Of the Town, yeah.
MR. ROBERTS: -- of the Town --
MR. VORESS: Good. Good.
MR. ROBERTS: -- to do certain things,
grant permits, whatever. So you've got to
accept those obligations.
MR. VORESS: But "of the Town" makes it
better for me.
MR. EYPEL: That's repeated the other
way in B.
MR. ROBERTS: Yes, we release them
except for their obligations.
MR. EYPEL: Uh-huh.
MR. AUGUSTEIN: Page 16, D. Is three
days enough time to file?
MR. ROBERTS: Well, I would hope that
we would have it prepared for filing, you
know, the day we took it down there.
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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MR. PAUL: Yeah.
MR. VORESS: We don't have Exhibit D
here, Rusty, or is it just not --
MR. ROBERTS: Right. I haven't
prepared it yet.
MR. AUGUSTEIN: On the other one, three
days of execution, so we probably should --
MR. RAND: Why don't we say within
three business days?
MR. ROBERTS: Well, I mean, I'm going
to have it. If we're going to sign this
agreement, that motion is going to be signed
at the same time, so I mean --
MR. RAND: Right. Correct. So you
don't see any problem there?
MR. ROBERTS: I don't see a problem
there.
MR. VORESS: On the bottom of that,
what do you mean by "rule of construction" in
17, Rusty? not be subject to any rule of
construction in favor of or against either of
the Parties."
MR. ROBERTS: Well, there's a rule of
law that says if you draft a contract that has
an ambiguous term in it and you drafted it,
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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it's construed against you.
MR. VORESS: All right. Okay.
MR. ROBERTS: Because in order to avoid
that, we can go in there and say, I don't know
care who drafted it, it's not construed
against anybody.
MR. VORESS: Okay. Now, we don't sign
this piece. You've just got the plaintiff to
sign this piece, right?
MR. ROBERTS: Well, there's going to be
MR. VORESS: We have to have someplace
we sign it, too, right?
MR. ROBERTS: Yes, there will be.
MR. RAND: Rusty, I don't see -- well,
you make reference to an Exhibit C that the
Town Manager has to sign.
MS. MARIANO: I have copies of that.
It wasn't attached.
MR. RAND: Oh, it wasn't? Okay.
MS. MARIANO: Did you change Exhibit C?
MR. ROBERTS: No, I haven't changed it.
Mary Ann doesn't want to sign it, but I don't
think it --
MS. MARIANO: Rusty said if it's not a
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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problem, I just had a --
MR. RAND: What's in it?
MR. ROBERTS: This is an affidavit that
they had proposed initially to help them out
with Mr. Nicollettes (phonetic) of the tax
appraiser's office. They have been fighting
him all along every year because he's saying
your property is worth more, and they're
saying that it's not, because under the
present zoning it's only worth so much, and
that's all I want to pay taxes on, essentially
adopting the Town's position as to zoning.
And this is really just a memorialization by
Mary Ann as to what the Town zoning was during
those years.
MR. RAND: Uh-huh.
MR. ROBERTS: And I think it's
accurate; is it not? If it's not, it should
be accurate. But what they're afraid of is
that once this agreement is signed, they get
this 427 units, that the property appraiser
will go back and say, uh-ha, you were right
and the Town was wrong, so all during these
years now you owe me the taxes for 427 units.
So they want to say --
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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MR. VORESS: Do we have time for a
break?
MR. ROBERTS: So the Town says -- Yeah.
Okay. We're going to take a break here, and
nobody can talk about this. We're essentially
going off the record, but nobody talks.
MR. VORESS: Okay.
MR. ROBERTS: I guess you might say
that the meeting is adjourned until we've
reconvened.
MR. VORESS: The meeting is adjourned
until reconvened, all right?
(Thereupon, there was an interruption
in the proceedings.)
MR. VORESS: Okay. I call the meeting
back to order.
MR. RAND: I have a question on this
Exhibit C. This is R.T.C.'s proposal? In
other words, they are requesting you to sign
this, Mary Ann?
MR. AUGUSTEIN: What page are we on?
MR. RAND: I'm talking about Exhibit C.
MR. ROBERTS: It's Exhibit C.
MS. MARIANO: Yes.
MR. RAND: Because I personally
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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wouldn't sign this.
MS. MARIANO: Well, Rusty states it's
only stating a fact.
MR. ROBERTS: Okay. Why, John?
MR. RAND: Because I don't want to be a
party to influencing the County Appraiser as
to what the tax is to be paid. As far as I'm
concerned, they've been getting away with
murder for many, many years. And I wouldn't
want to be a party contributing to their
getting relief when I don't think they deserve
it. And this, in effect, we're admitting, I
mean, this is a written document stating that
-- and that the owner of the property -- the
third paragraph down, the owner of the
property believes that it was denied the right
to apply for a building permit with respect to
a portion of the property during such year.
This is an admission of guilt as far as I'm
concerned.
MR. ROBERTS: Well --
MR. VORESS: Well, the owner of the
property does believe it was denied. That was
what the lawsuit was all about.
MR. ROBERTS: Well, then it's academic.
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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Why do we have to put it in an affidavit that
Mary Ann has to sign? I don't see why this is
necessary. That's their argument with the
County Appraiser. It's not our argument; it's
their argument. We're not paying the taxes.
MR. ROBERTS: I understand that. But
you know, all aspects of this settlement, from
their perspective, are intended to bring them
value. And they feel that if they have this
affidavit from the Town Manager simply stating
facts which really no one disputes, that it
will help them. What this reflects is what
the Town's position has been.
The Town took the position that the
RPUD expired in 1985. And thereafter in '87
it was rezoned to 8 units an acre.
MR. RAND: Right.
MR. ROBERTS: And that's what the
zoning code says. And thereafter, as I said,
I believe this is correct. If it's not
correct, we would certainly only sign
something that was correct. But that in those
years, that's what the zoning was.
It means value to them because they
don't want the property appraiser coming back
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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and saying, now that you've won, you know, you
were right all these years. You had 620
units, so pay me the taxes on it. And all
this affidavit says is that the Town's
position, even though they've settled the case
now and they have 427 units, the Town's
position is the position that I took with the
Town, the Property Appraiser because I could
not, during those years, build 427 units. I
mean, if they had come in in say for instance,
1990 and said I want to build 620 units, what
would the response of the Town have been?
MR. VORESS: No way, Jose.
MR. ROBERTS: No way, Jose. The RPUD
expired in 1985.
MR. RAND: So --
MR. ROBERTS: We went through this, you
know. I got a copy of their tapes from the
property appraiser of all their appeals prior
to trial, and sat down. And if you think
about it realistically, it doesn't do you any
good. Now, people made that argument all
through the course up until trial. Look,
these people aren't paying any taxes. Well,
that's true because you're telling them that
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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they can't build that.
MR. SCHOECH: Rusty, are these people
aware that the County can only go back two
years on past due taxes?
MR. ROBERTS: You know, that's another
point. I mean, I don't know whether it makes
any difference. That's what I'm saying. I
don't see anything in here that says anything
different --
MR. SCHOECH: Right.
MR. ROBERTS: -- than what the Town's
position has been all along.
MS. MARIANO: We're not waving any
rights? We're not giving up anything?
MR. ROBERTS: No.
MS. MARIANO: If anything goes wrong
anywhere down the line, we haven't done
something that --
MR. ROBERTS: You know, what are you
saying here, that there had been litigation
between the owner and property with respect to
the issue of whether any development
whatsoever was possible on the property during
the years referred to in Paragraph 2 hereof.
I mean, I think that's true. There's been
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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litigation from 1987 up through 1994 over what
her property rights were and what the density
even was.
MR. AUGUSTEIN: What's fine? What does
it mean?
MR. ROBERTS: That's just a language on
any affidavit.
MR. RAND: Are you saying in effect
that --
MR. PAUL: She ain't going to say no.
MR. RAND: -- they could not build
anything whatsoever from 1987? That's not
true.
MS. MARIANO: No, eight units an acre.
MR. RAND: Eight units an acre. But it
says here that --
MR. ROBERTS: Well, I would agree with
you, John, that might be changed, okay?
MR. RAND: I'm just reading to myself.
I'm looking for where it said that it was
denied the right to build anything. I'm
looking for it. Here. Here.
MR. ROBERTS: Yes, I see what you're
saying.
MR. RAND: Number 3, notwithstanding
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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forgoing one, the affiant acknowledges that,
one, there has been litigation between the
owner and property and the Town with respect
to the issue of whether any development
whatsoever was possible on the property, okay?
MR. VORESS: There had been litigation.
MR. PAUL: That's a fact.
MR. VORESS: That is a fact. There had
been litigation about that. They're just
saying it's been litigated.
MR. AUGUSTEIN: I thought we said was
possible.
MS. MARIANO: And it doesn't say
that -- well, it says that the owner believes
it was denied the right. It doesn't say that
we believe it's been denied. It just says
that they believe it.
MR. PAUL: That is all fact in that
paragraph, right?
MR. RAND: Okay.
MR. ROBERTS: John, now I think I
understand what you're saying. I think I can
clean that language up to be more powerful to
24 you.
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MR. RAND: All right.
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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MR. VORESS: Okay. We're on Exhibit B
next, are we? We've got a couple of blanks
that need to be filled out, and those are just
the dates, Rusty, correct, on the top here on
Exhibit B, Hidden Harbor Development
Parameters?
MR. ROBERTS: Right. That's just the
dates of the execution of the agreement and
the order.
MR. VORESS: What is an ACOE permit?
MR. ROBERTS: Army Corps of
Engineering.
MR. VORESS: Okay.
MR. RAND: Well, I have a question on
the limitation, 16 stories. I mean, we never
discussed the 16 stories, to the best of my
knowledge, and I think we have a very strong
objection to 16 stories. And I'm wondering if
this is a deal maker or not. Because I prefer
to limit it to 10, which I think is the height
limit right now; isn't that right?
MS. MARIANO: No. Ten is not the
height limit right now.
MR. RAND: What's the height limit
right now for a condo? I thought it was 100
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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75
feet.
MS. MARIANO: No, not on the zoning.
MR. ROBERTS: It's three, I think.
MS. MARIANO: Three.
MR. RAND: Really?
MR. ROBERTS: Right.
MS. MARIANO: In 1991 I think we agreed
to 16; 14 and 2. Wasn't that back in the 1991
agreement?
MR. ROBERTS: Right, the 19 -- yeah,
the 1991 proposed agreement had this figure.
MR. VORESS: 16 stories; 14 residential
and 2 parking stories.
MR. ROBERTS: Right.
MR. VORESS: So it made 160 feet above
the ground, because a story is 10 feet
normally.
MR. ROBERTS: Right.
MR. VORESS: And this was what was in
this document coming toward us, John.
MR. RAND: But they're talking about
three high-rise towers may be built, but don't
they have the right to build it on the other
side as well. They're talking about 16 -story
towers on the ocean side as well?
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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ire
MR. ROBERTS: No, their proposal said
that -- well, mine says, the second paragraph,
no more than three high-rise may be built, but
the Developer may build less than three
high-rise towers and may also, at its
discretion, build mid or low rise.
Paragraph A deals with the parcel or parcels
west of State Road AlA.
Paragraph B deals with the parcel or
parcels east of State Road AIA.
MR. VORESS: Right. And it limits to
three buildings no more than ten feet or
one-story high.
MR. RAND: Right.
MR. VORESS: That's what that says.
MS. MARIANO: No, it's not. It says
10 -- it says three ten -foot. It's 30 feet,
is that right?
MR. EYPEL: Three 10 -foot stories.
MR. VORESS: Excuse me. Excuse me.
Yes.
MR. ROBERTS: Right.
MS. MARIANO: Right.
MR. VORESS: But that's where you cut
them off at the pass to put the high-rise on
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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the ocean.
MR. ROBERTS: Right.
MR. VORESS: Right?
MR. ROBERTS: Their proposal would
allow them to build a 16 -story unit.
MR. VORESS: That's correct. And they
said to me on that Monday that they never
intended for anything like that, and you have
covered that right here.
MR. EYPEL: Well, I think it would be
physically impossible.
MR. VORESS: Oh, I agree with you
100 percent.
MR. EYPEL: They couldn't physically do
it.
MR. AUGUSTEIN: This is the original
agreement with Hidden Harbor way back?
MR. SCHOECH: No.
MR. ROBERTS: Well, there was -- Oh,
you mean -- well, which original agreement?
MR. AUGUSTEIN: What they can build.
MR. ROBERTS: Well, the original
MR. AUGUSTEIN: Yeah.
MR. ROBERTS: -- was limited to a
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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clubhouse on the beach -front parcel.
MR. AUGUSTEIN: I see.
MR. ROBERTS: It had three tall
buildings and it had five all together, two on
Hoffman, and three on theirs, plus townhouses
in the middle.
MR. AUGUSTEIN: Now, they did away with
-- well, the amenities will be on the west
side.
MR. ROBERTS: Well, they're not limited
by this agreement to where they put the
amenities.
MR. AUGUSTEIN: Well, you're right.
They have an open thing. You're right.
MR. RAND: In my own personal view, I
just think that 16 stories, that's like going
to a condo canyon, and I thought we always
made a concerted effort to avoid this.
MR. AUGUSTEIN: There are a number of
16 -story buildings in town. There are a good
number of 16 -story buildings. I live in one.
MR. RAND: Where else are there 16
stories?
MR. AUGUSTEIN: Dalton Place.
MR. RAND: That's part of Boca
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 -Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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Highland.
MR. AUGUSTEIN: Yes.
MR. RAND: That's the only place that
has 16 stories.
MR. AUGUSTEIN: No, there are more.
MR. VORESS: No, Regency.
MR. RAND: Regency?
MR. VORESS: Regency was under the
RPUD too, John. There were three RPUD's,
Regency, Boca Highland, and --
MR. AUGUSTEIN: That's right, Regency
is.
MR. PAUL: I think looking at the
configuration of the property and with the
setback we're trying to incorporate here, and
even without what we're doing, the buildable
portion of that I think is going to be so far
back from AIA that it's not like you're going
to go by and you're not going to have you
know, 10 feet and there's a building going up
16 stories.
MR. VORESS: There chances of building
that --
MR. PAUL: Your line of vision even
from AlA is not going to be --
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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MR. AUGUSTEIN: A 4,000 -square -foot
home maybe, but they're not going to build
that.
MR. ROBERTS: John, you know, one of
the things that we've had a suggestion on this
all along from its inception is that they're
only going to build what the market is going
to bear, okay?
MR. VORESS: Uh-huh.
MR. ROBERTS: But on the other hand,
for sale purposes, the more leeway they seem
to have, the bigger sucker they can get in
there. And that's exactly how -- I can tell
you from historical purposes, that's how
R.T.C. or its predecessor, Broadview, got
sucked into it in the first place.
MR. RAND: Okay.
MS. MARIANO: I think it's subject for
discussion with them. The reason they're
asking for that was they have used as a
comparable, because they mentioned the name,
was Sea Ranch. That is what they're using as
a comparable. That is not going to be a
marketable comparable.
One of the big, main things they're
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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forgetting is the higher they go and the more
units they have facing the north, are looking
directly at the water tower. They do not have
the lot of land that Sea Ranch has, by any
means. Coleman is not right. This not a
really great spot.
MR. VORESS: Yes, right.
MS. MARIANO: The higher you go, the
worse it's going to be.
MR. AUGUSTEIN: There's another
16 -story building, Sea Ranch.
MR. VORESS: Right.
MR. ROBERTS: If they can get some
appraiser to say, which I'm sure they have
because Mr. Hambric tells us every time we
meet him, that the property is worth
twenty-two million. The only way you get that
is if you say I have 427 units and that's
worth fifty thousand dollars a unit.
MR. VORESS: That's where he gets the
number.
MR. ROBERTS: And that's where they get
the numbers. That's where they've gotten the
numbers all along.
MR. RAND: Okay.
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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MR. VORESS: On Number 7 on the next
page, the code, I believe Charlie said that
it's the Standard Building Code, not the
Southern, and you need to put it in again --
MR. ROBERTS: Correct.
MR. VORESS: -- consistent with the
rest.
MR. SCHOECH: It's the Southern
Building Congress -- or the Southern Code
Congress Standard Building Code.
MR. VORESS: Whatever.
MR. RAND: So we take out the word
"Southern", right?
MR. ROBERTS: We'll put County -wide
limits.
MR. VORESS: County -wide limits.
Are we ready to go to the next one of
the final order? Is everybody ready to go?
MR. ROBERTS: Well, is there any other
comment on the setbacks? And I just kind of
pulled like, the setbacks out of the air here.
I really don't know where. Setback 20 feet
from a boundary and 40 feet from AIA, would
that meet --
MS. MARIANO: That's reasonable.
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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AN
MR. ROBERTS: Would that meet with your
pressure?
MS. MARIANO: And they're getting a
break on the parking spaces.
MR. AUGUSTEIN: One and a half.
MR. EYPEL: Wouldn't we normally
require two?
MS. MARIANO: Two. Our code now says
two.
MR. RAND: I don't understand what is
meant by one -and -a -half parking spaces. How
do you get a half a parking space?
MS. MARIANO: It's an overall number.
If there's 100 units, you need to have 150
parking spaces.
MR. AUGUSTEIN: That's so the resident
can find it. It doesn't do anything else.
MR. RAND: This order would be signed
by the District Court that heard the case in
the beginning?
MR. ROBERTS: Right.
MR. RAND: Not the Appeals Court?
MR. ROBERTS: Right.
MR. RAND: Even though the appeal is
pending with the Court of Appeals, they don't
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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have to sign the order?
MR. ROBERTS: No. What you do is you
go back to that Motion to Relinquish
Jurisdiction. They relinquish the
jurisdiction because the case is moot as far
as they're concerned. Send it back to the
District Court, and the District Court enters
the order of the judgment.
MR. VORESS: So this piece and one
other piece is not existent today would be the
things that go to the Court, I think you said
D
MR. ROBERTS: Right. The order, the
stipulation, and there probably would have to
be a motion to approve the settlement, but
that's a pretty standard sort of thing that is
said.
MR. AUGUSTEIN:
you're referring to?
MR. ROBERTS:
MR. AUGUSTEIN:
Court?
In District Court
I'm sorry?
That's in District
MR. ROBERTS: Right. Well I mean,
there's a local rule of the Federal District
Court that you can't file any motion unless
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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it's in writing and accompanied by a
memorandum of law. So you have to file a
motion and it would be a joint motion,
otherwise they would have a certain period of
time to respond to it and whatever. So that's
the sort of things that I don't foresee any
difficulty in accomplishing.
MR. AUGUSTEIN: No, no.
MS. MARIANO: I want to go back to one
issue, because this is an issue that comes up
with every agreement we have when it comes
time practically to do this.
Now, let's say this is an agreement,
and in three years from now they come in with
plans. Under Development Plans and Procedures
this says, it's not possible at the time,
which is right, to delineate an approved site
plan, therefore all site plan approval,
community appearance board, and other
procedures with respect to the Development are
waived, except to the extent they're required
to determine compliance with the parameters.
Does that mean they go before the Board
or they don't go before the Board? This is
not clear.
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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: S
MR. ROBERTS: Okay.
MR. AUGUSTEIN: What page is that?
MR. VORESS: I'm looking at the bottom
of Page 9 and the top of Page 10.
MS. MARIANO: They should maybe be
waived from the application fees and those
kinds of things, but the Board should at least
see the plan, especially if you have three
16 -story buildings. I think the planning
board might want to see the plans to make sure
they that conform to these building
parameters.
MR. AUGUSTEIN: You're right.
MR. ROBERTS: Well, okay. The problem
I foresee in something like that, in getting
this agreement is that they don't want to be
delayed by, you know, the Planning Board
meeting first in a workshop, and then in a
regular meeting, and then they go into the
Town Commission. Even if they have no
discretion involved, is there a way that you
can short circuit that to be approved by the
Town Commission?
MS. MARIANO: That's up to whatever we
sign in this agreement.
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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a
MR. ROBERTS: Well I mean, --
MS. MARIANO: What I'm saying is, I
have a hard time with them walking in with
clients to approve 16 -story buildings to a
building official and the building official
saying, okay, I can sign the building permit,
and they go build and nobody's looked at
anything. Somebody should look at something.
MR. ROBERTS: Well, what is it you
want? Do you want it to go in front of the
Planning Board, the Community Appearance
Board, the Town Commission and the building
official, or do you --
MS. MARIANO: I think maybe --
MR. ROBERTS: Or can you live with
something less than that?
MR. RAND: Wait a minute. This says,
it's not possible at the time hereof to
delineate an approved site plan for the
Development, and therefore all site plan
approval, Community Appearance Board, and
other procedures of the Town with respect to
the Development are waived, except to the
extent they are required to determine
compliance with the parameters of this
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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rim.,
LEAM
agreement.
MS. MARIANO: Right. That's what I'm
saying. It's not clear. What does that mean,
"except to the extent"?
MR. PAUL: Do you want to give that to
the Town Commission to avoid him saying that
I've piddle -paddled with all these boards?
MR. VORESS: I guess --
MS. MARIANO: I think maybe for the
original set -- I think for the first set of
plans, they should have to see somebody. I
don't want to jerk them around every time we
have a little modification or something in
there, and run them through the Board. I
don't think that would be fair. But I think
when they finally sit down and somebody buys
the property on said, here's what we want to
build. I think that that needs to be beyond
an administrative officer of the Town signing
off. Somebody needs to say okay. The
Commission is the one who adopted this
agreement, the Commission needs to say --
MR. RAND: I think it's a good
suggestion, Bill.
MR. PAUL: Yeah.
MUDRICK, WITT, LEVY & CON50R REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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MS. MARIANO: -- here are the plans and
we agree that they are in compliance.
MR. RAND: I'll go for that.
MR. PAUL: So the building official
comes to us instead of having to go to all the
different boards.
MS. MARIANO: Right. So if the
building official would come here, then I'm
supposed to admit that I made the agreement
and I believe it meets with all of your -- but
it gives you a chance to see.
MR. PAUL: So basically they could get
to us in a week's time, let's say, once
they've come.
MS. MARIANO: Right. You need to know
that they're doing what this agreement says.
I think we can waive the Board. I think
there's a body that needs to see the plans as
they come in.
MR. PAUL: Yeah. How can we word that
so it does --
MS. MARIANO: That will go to the next
meeting. Anybody with plans in, we will see
it that gets on the absolute next -- we'll
bring them to the next agenda.
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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90
MR.
RAND: The next regular meeting.
MS.
MARIANO: Well, the next workshop
agenda, because
it has to go to workshop
before you
can -- well, you're not going to
really have
the authority to approve or deny
it if it's
really not in conformance.
MR.
PAUL: Yeah.
MR.
RAND: So I suggest the next
regular meeting
rather than have to go over it
twice.
MR.
ROBERTS: All right. Waive --
MR.
EYPEL: You want to avoid workshop
meetings where
we deal with --
MR.
AUGUSTEIN: I would say so.
MS.
MARIANO: The only reason for the
workshop is
if there are any unanswered
questions
and you don't hold them up. What if
they come
to a regular meeting and there's
some questions?
Then they're stuck for a
month.
MR.
RAND: We can have a special
meeting.
MS.
MARIANO: Well, we can do that.
MR.
RAND: We'll have a special
meeting.
MUDRICK,
WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building
Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street
NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401
Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155
Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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91
MR. VORESS: Have you got something
written there, Rusty?
MR. ROBERTS: I just put at the top of
Page 10, except that these site plans must be
reviewed by the Town Commission at a regular
meeting to determine compliance with the
parameters of this agreement and the Town
Codes and Ordinances that are applicable under
this agreement.
MR. VORESS: Right.
MR. AUGUSTEIN: That's good enough.
MR. RAND: That will do it.
MR. VORESS: Well, that leaves us on
Page 11, item 6, payment by the Town.
Defendant shall pay to the Plaintiff, bla,
bla, bla, bla, bla.
MR. RAND: It doesn't --
MR. VORESS: The two issues we've got
it seems to me this is what Charlie said, we
need to talk about timing and amount.
MR. SCHOECH: Uh-huh. I would agree
with that.
MR. RAND: When do you pay it and
within what time period? There are certain
procedures that have to be adhered to which
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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could conceivably take 60 days maybe, or
longer?
MR. SCHOECH: Well, your biggest
parameter is going to be if the sum exceeds
the amount of cash that you currently have on
hand. You may have to wait until the next
fiscal year, the next tax year in order to
have the funds to pay it.
MR. RAND: Well, maybe --
MR. SCHOECH: Unless you're going to
borrow the money.
MR. RAND: That's what I was going to
say. You can always borrow the money and
arrange not to pay any interest except at the
beginning of the next fiscal year. That's
what I would suggest.
MR. AUGUSTEIN: You're speaking now of
a large amount of money?
MR. RAND: Well, depending on what the
amount is. I mean, if we can't settle for
two million dollars or three million dollars,
whatever we decide, and let's say it goes to
five and a half million dollars, you can
borrow the five and a half million. We can
borrow it for less than one year to avoid the
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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necessity --
MR. AUGUSTEIN: Interest free?
MR. RAND: No, you just defer the
interest until the next fiscal year.
MR. AUGUSTEIN: I thought you knew
something I didn't know.
MR. PAUL: What is the figure we put in
here?
MR. VORESS: Well, let's try to put in
an amount.
MR. PAUL: Let's try to put in an
amount first, yeah.
MR. VORESS:
all this borrowing.
We may not have to go into
MR. RAND: Well --
MR. VORESS: Does anybody want to talk
about a number?
MR. RAND: I'll lead off. I'll lead
off.
MR. VORESS: Go ahead.
MR. RAND: I think again, I know it's
not an appropriate measure to use or a
yardstick to use, but I think as a result of
the last Court of Appeals hearing I think the
momentum has somewhat swung over to our side.
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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But I'm not foolish enough to think that what
we heard there or what we experienced there
would be put to writing because we've had this
disappointment in our many attempts to settle
with the R.T.C. in the past. So we've learned
not to rely on anything.
But I do feel very strongly based on
some of the comments made by the judges, and
in particular the Chief Judge, that perhaps we
are in a better negotiating position. And
since we're giving them the density that they
want and everything else that they had wanted,
I don't know that they we ought to go to the
five and a half million amount. I would like
to start with two and a half million, but I
would be prepared to go to five and a half
million in order not to lose the deal. But
I'd like to suggest starting with two and a
half.
MR. PAUL: Why not start with two?
MR. RAND: Or two.
MR. PAUL: Because that leaves us in a
position where we're in pretty good shape.
MR. AUGUSTEIN: We can always go up.
We can never go down.
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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MR. RAND: That's even better, because
we might not have any problems as far as
coming up with the money. You have one
million dollars from the insurance company and
we can always get a loan --
MR. AUGUSTEIN: Is that submitted?
MR. RAND: Yes. Well, it's our
understanding.
MS. MARIANO: Well, we don't have it in
writing, but --
MR. RAND: We don't have it in writing,
but that's what we've been led to believe.
MR. VORESS: What do you have to say,
Arthur?
MR. EYPEL: I would like to go back to
the issue of what the insurance fund will or
will not -- I think they've been very cautious
not to put anything in writing. It was my
understanding that their numbers decreased
once they found out the parameters that we
were dealing with. And I heard two numbers.
I had heard two million dollars and then I
heard one million dollars. And I heard one
million dollars because they found out we were
negotiating for far less money. And that's
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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understandable on their part.
Is it that they're simply not willing
to commit in writing? I mean, what is the
reason why we don't have some form of written
commitment from these folks?
MR. VORESS: I think two things. If I
can say it, Dale Morgan and Scott Pendley came
down, and Dale Morgan is the senior partner of
the law firm who works with the fund and Scott
is one of the associate lawyers or partners.
MR. ROBERTS: He's a partner.
MR. VORESS: A partner? And they feel
strongly a couple of things. They said to us
I think at that meeting, "us" being Mary Ann
Consani (phonetic), myself, and Mike Gora,
that they flatly could not believe that we had
gotten an offer out of the R.T.C., a proposal
out of the R.T.C. for five and a half million
dollars. That both in Tallahassee where the
Florida league was located, and in Orlando
where the law firm was located, they were
astounded at that number that it was so low.
And that they believed that they had done
their part. And they believed that if they
had it to do over again, they were not sure
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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97
they even liked the one million dollar figure.
They continue on their position that
they don't really owe us anything. But they
said the one million dollar is still on the
table. But they believe they've got a good
enough offer that the Town needs to pay some
money. And Dale Morgan said, I will tell you
right now that I will flatly oppose you asking
for anymore money from them as my position as
counsel to the municipality.
MR. AUGUSTEIN: Anymore money above the
one million dollars?
MR. VORESS: Above the one million
dollars.
MR. PAUL: From them?
MR. VORESS: From them.
And I came away with the impression in
that discussion that okay, if we kept beating
on them, we might get another two hundred
fifty, but the number is probably pretty close
to one million dollars, and that's it.
MR. RAND: It doesn't answer Arthur's
question, which I think is a relevant one;
whether it's, one million dollars, two million
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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dollars, why can't they tell us in writing?
MS. MARIANO: They will not -- Okay.
They will not tell us until they see what it
is we're going to sign. One of the reasons is
they want to make sure that when it's over,
it's over, because they don't want to give us
money to settle this agreement, and then a
year and a half from now, or three years from
now, or five years from now, we're back in
court and they're having to spend money
defending us again.
MR. VORESS: That's correct. They
want --
MS. MARIANO: So they have veto power
almost kind of, if we're going to take any
of their money, over any agreement.
MR. VORESS: They say that this has to
be settled.
MS. MARIANO: That's right. So before
we can really agree to any agreement, this has
to be funneled through them and they have to
basically sign off on the agreement also --
MR. VORESS: Okay.
MS. MARIANO: -- for us to get their
money.
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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MR. AUGUSTEIN: Well, they are
mentioned in here. That is mentioned in the
agreement.
MR. VORESS: Uh-huh.
MR. PAUL: But I'm coming with the
two million dollars from the fact that I'm
counting on one million dollars from the
insurance company, and we can probably come up
with one without a great deal of trouble. If
something should happen and they refuse any,
we are still in fairly good shape of somebody
were to accept the two.
MR. VORESS: Arthur?
MR. EYPEL: Well, I think that I've
given this a lot of thought, and I would like
to have some parameters where we can avoid a
bond issue or where we can avoid placing a
long-term burden, financial burden on the
taxpayers of the Town for any amount of money.
Now, if we have the ability to -- if we
can come up with a million and a half or
two million dollars without borrowing the
money, and I fully realize that if we came up
with two million dollars, it's my
understanding it would just about totally wipe
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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the Town out as far as cash reserves are
concerned, we would be penniless practically.
MR. RAND: No, that's not true.
MR. EYPEL: That's not true?
MS. MARIANO: That is true, yes,
according to our auditors, yes.
MR. RAND: What is our total reserve,
Mary Ann?
MS. MARIANO: Our total reserve right
now is running two, two and a quarter, I
think. But we have other things that need to
be considered in that.
MR. EYPEL: Right.
MS. MARIANO: Okay.
MR. AUGUSTEIN: Fire engine.
MS. MARIANO: We can't use capital
appreciation accounts because that's about
almost over three to four. That's why Michael
is standing by if we have to get into more
specifics. We have got to do the fire
station. We've got a fire truck. That we
don't want to get into. If we don't have out
own money to backup how we fund that, even if
we go and we fund the fire trucks and --
MR. EYPEL: We can borrow the money.
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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101
MS. MARIANO: -- and borrow the money,
it's backed up by the money we have. It's now
getting into this other issue of going out and
borrowing money that Charlie is talking about,
basing it on future revenues to get out of
debt. I think from -- and like I said, we
have to talk to your auditors. I think
Charlie has talked to our auditors. I think
that we can easily come up with one million
dollars, and I think we can probably come up
with one point five without too much trouble
without encumbering those things that we have
in the future.
We have some other issues coming up
with regard to our sewer lines next year. We
have other things, and not all the money is in
the general fund. You know, we have different
things set aside for different projects, but I
think if push came to shove, we could come up
with one and a half, maybe one and three
quarters. I'm not sure.
MR. RAND: Mary Ann, how do you get the
two million two, because when we discussed the
increase and setting up with our reserve, we
were at the two million seven level. And
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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you've got three hundred sixty-seven thousand,
that brings it up to three million, and you
had one hundred fifty-five thousand surplus.
And I ask you a question, how is it two
million two?
MS. MARIANO: That's not what we have.
I can call Michael in here, but that's not --
MR. RAND: All right.
MR. VORESS: Well, before we get
involved in all the numbers, let's see what
all of us think.
MR. EYPEL: I'd like to start at two
million.
MR. VORESS: All right. Let me give
you a perspective from my point of view.
MR. EYPEL: Okay.
MR. VORESS: All of these discussions
around here have been what we want. I want to
give you a perspective from the R.T.C. that I
don't think any of you have, because they're
the other party here. And unless they want to
deal with us, this discussion is all
superfluous.
Let's back go back to the start. The
judgment against the Town in 1992 was for the
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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RPUD plus fourteen point seventy-seven --
fourteen million seven seventy three
thirty-one, and any potential -- some
potential money if the RPUD was not granted,
and the impact fees for eighty-five. Then the
judgment against the Town in 11/92 as Rusty
said, was for a million seven -- seven
eighty-five ninety-two fifty, and then we have
the interest on the award since that time.
In 1993, based on when we had the
judgment against us, the R.T.C. came in and
offered to sell the Town the judgment, not the
RPUD, just the judgment. And they offered to
sell it to us for twelve million dollars.
This was in '93, okay?
In 1994, in April of 1994, the Circuit
Court affirmed the judgment, and the R.T.C.'s
position at that time was that they wanted the
judgment of fourteen million seven seventy
three thirty-one, plus attorneys' fees a
million seven eighty-five -- seven
ninety-eight nine fifty, plus interest through
6/30/94, of a million three twenty four eight
ninety-nine for a total of seventeen million,
eight ninety-six -- we can say seventeen,
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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let's say eighteen million, round numbers.
They also said that in a formal letter
which we have and I think all of you have
copies of it, they added that little,
six million dollar kicker in which they said
they've got temporary taking damages for an
additional four million six, plus attorneys
fees of four hundred thousand, plus interest
through 6/94 on that of a million zero
forty-five for an additional six million on
top of that eighteen. We said that's below,
but that was their position.
When we talked with them about that,
they offered to sell the whole thing to the
Town, the judgment and the property for twenty
seven million four hundred thousand dollars,
which included the seventeen nine, say
eighteen million dollars, plus nine million
five hundred thousand dollars for the
property, and said we'll drop the six million,
which we did agree with. But their position
at that time was twenty-seven four. This was
in June of ' 94 .
In August of 192 the Town suggested
that the R.T.C. sell the property for the
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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105
twenty-five million that they said that they
could get for it, and we would contribute
six million dollars to that thing. In that
event, we said you're getting back your money,
you're more than getting back your money
because you've got fourteen million dollars in
it, and you're making some profit off of us.
So that's a good deal.
They rejected that offer and said no,
we're not going to do it for six million. And
they came back to us then just before
Christmas of '94 and said okay, would you
agree with twelve million. We said no. Then
the en banc court hearing occurred at the end
of December and they came back and talked to
the Town and said, we want to talk to you.
In the meanwhile, the Town on 1/4/95,
that's on the 4th of January, '95, proposed to
the R.T.C. that we give a million and a half
plus a building envelope. We had not heard
about that response. So when John Douglas and
I went to Valley Forge to meet with them and
said, well, the first thing you have, you
haven't responded to the million five. And
they said, well, this is Jay Hambric, he said,
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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I wouldn't even dignify that kind of an offer
with a response. We have absolutely no
interest in talking to you at all.
That meeting then resulted in a sliding
scale of five point five to two point zero
million dollars, as you can recall, which we
came back from there, John Douglas and I, plus
restoration of the RPUD. We had a lot of
problems with it, but that's what it was.
Then there was a meeting with Rusty,
Mary Ann and myself at the R.T.C., and the
number became five point five million on a
sliding scale. And that had to do with
whether we could pay it or not, so we pay one
single number and that came five five.
Let me tell you what the R.T.C.'s
position is. On the first of this year they
had five billion dollars worth of property to
sell. The office closes on 12/31, at the end
of this year. Last week they gave notice to
all employees of the R.T.C. in Valley Forge,
that they would be off the payroll at that
time and a few would go back to the F.D.I.C.
This property, if you look at it in
terms of percentage, is twenty to twenty-five
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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107
million dollars on a five billion dollar piece
of property. This is four tenths of one
percent of the property that they're dealing
with.
We are the only people that are working
with the R.T.C. at their top level, the head
of the Valley Forge office to look at a piece
of property that's worth a small piece of the
issues that they're dealing with. They're
dealing with two, three and four hundred
million dollar pieces of property. When you
go up to their offices, you see on their walls
pictures of all these properties in Texas and
all over that they have sold.
Their position is, if you don't want to
sell it, we'll let the F.D.I.C. take over and
we'll go about our business. This isn't a big
deal to us. We're here because of two
reasons, one, you have tried to exert some
pressure on us through the Congress.
And our response to them in our letter
that I think all of you've seen, back to
Bob Graham to talk to them, and said, hey, we
tried to settle with those people at the Town
of Highland Beach, and they refused to settle
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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with us.
If we're not close to what they want,
they, in my judgment, will take the position,
we'll just let it go. They really have no
interest in the outcome of this particular
lawsuit, because they don't own any of the
property. It belongs to the Government. They
don't care whether it settled or it isn't
settled.
So what we're saying is, and my
position is, if we get to far away from the
five point five million dollar, they'll say,
hey, you know, we keep fooling with you
people, and they're going to say, just let the
court settle it. If we lose, fine. What's
that really cost us? There's nobody left
here.
Jay Hambric is characterized by his
counterparts and by the people he works for in
Washington, D.C. as an adequate person who's
doing a good job at running Valley Forge.
When he offered us the twelve million, he told
John Douglas that that's all he could do
because the Congress would get after him.
John Douglas went back to the people in
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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109
Washington and said, hey, Jay is saying that
he can't give us any lower number. And he was
then told, through the conversation with John,
that he can settle for any number he wants and
he doesn't have to have your approval. He
then came down to the five five.
I'm saying to you, if we in come with
too low a number, that it's my opinion and my
judgment that they will say, to hell with it,
we're not going to fool with it anymore. They
don't really have that much in it. It's minor
compared to the rest of the work they have to
do, in the organization that is compressed.
So what do I think we ought to put it?
I think it ought to be lower, but I would say
if it's much lower than three and a half
million dollars, that we're going to be in
serious trouble of whether they'll even
consider it or not.
In that case if they don't, we will
rely on the 11th Circuit Court to give us the
judgment. And we can make the decision, do we
want to have the 11th Circuit Court answer it
rather than the R.T.C? Because they won't
answer us, in my opinion.
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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In talking with John about this, he has
told me that he believes that is exactly what
will happen. So I think it's up to us to
decide, and I'm certainly willing to go along
with what the group does, but I am an opposed
to any number under three and a half million
dollars, because I think it will effectively
kill any further discussions. So that's where
I stand.
MR. AUGUSTEIN: You mentioned how small
a piece of property this is and how
infinitesimal it is in the master scheme, yet
they had a very large group at the trial.
They didn't seem to lack anything as far as
legal power goes. They were loaded.
MR. VORESS: Yeah, they were there.
They believe on the other side that they've
got as good a chance as ours, Dave. Jay told
me himself -- I said what's your strategy? He
said to get three votes. They've got two.
MR. AUGUSTEIN: Oh, yeah.
MR. VORESS: So their strategy is to
get three votes. And losing that, they'll let
it go. What we're left with is an attack to
do this deal. If they don't want to deal with
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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111
it, then we rely on the courts. I think the
general consensus of people in Town, and I you
heard it here today, we're better to settle
than to let the courts decide. And I'm
telling you after some 20 years of dealing
with Federal Government agencies, which I have
that experience, that we run a very serious
risk if we cut that number too far. So
that's my feeling.
MR. AUGUSTEIN: I heard today that we
can raise one point seven five.
MS. MARIANO: I have to talk to
Michael. I don't know. Did you get a
feeling, Charlie, in talking to the auditors
about the amount?
MR. SCHOECH: She didn't really give me
an amount. She just indicated that there was
limited dollars available.
MS. MARIANO: Because when I asked, and
I asked about two million, and she said that
would come close to wiping us out with some of
our other obligations.
MR. RAND: I don't think that that is a
serious issue. I think, at least my
suggestion was that we start with a lower
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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figure, but I'm prepared to go to five and a
half million if necessary.
We are in the midst of negotiation.
We've come to an agreement with the R.T.C. now
at least six different times that I remember.
Every time we thought we had an agreement,
they turned around and imposed conditions that
were really onerous. They haven't been acting
with clean hands.
MR. VORESS: They said --
MR. RAND: The other side of the story,
if you're playing the role of the devil's
advocate on the other side, right now if they
lose this litigation, that fourteen million
dollars, they're not going to recover that
fourteen million dollars because they're only
going to be able to build six units per acre.
And you've got 17 acres here, so you're
talking of 102 units that they take build.
There's no way in hell that they're going to
settle this property for fourteen million,
fifteen million dollars with that density
limitation.
So I think they have some --
MR. VORESS: I think they have
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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1J
something to do with --
MR. RAND: It may be trivial, Arlin, as
you say, as far as their overall panoramic is
concerned with respect to their overall
position as far as probable loans or
investments are concerned, but they still are
not prepared. They're going to have to
justify passing up an opportunity to settle
this thing with cash up front and also to
build 428 units, which makes this property
more valuable.
So you're talking now not only of
two million or two and a half million in cash,
but you're also talking of making this
property more valuable. And if they lose this
litigation, --
MR. VORESS: Sure. Sure.
MR. RAND: -- this is also a
possibility that the Circuit Court of Appeals
could vacate their judgment entirely, in which
case they get nothing. And there's no way in
hell if we win this case, that we're going to
allow them to build more than six units per
acre. So I think they have something to lose
too.
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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But again, we're in the midst of
negotiations. And I agree that no deal is a
good deal unless both sides feel that they
benefit from it, okay? Now, we're starting
with a lower figure, but that doesn't mean
that we'll close the door to a higher figure.
But what's the point of going with five and a
half million? You've closed any possibility
of getting a lesser figure.
MR. VORESS: I'm not suggesting we go
to f ive --
MR. RAND: No. You said three and a
half. I heard you. I heard you.
MR. VORESS: I'm saying to you, John,
that it is my judgment in knowing the R.T.C.
and what's going on out there right now,
they'll say, you know, this isn't one of our
priorities. They don't care about twenty-five
million dollars, John. They have no interest
in twenty-five million.
MR. RAND: So we send this up to them
with two and a half million dollars. They
call you up or Mary Ann and they say, you guys
must be kidding. There's no way we're going
to accept this. So then the next response is,
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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115
well, what would you accept? Wouldn't that be
a good way to do it?
MR. VORESS: They won't respond, John.
MR. RAND: They can't say nothing. I
mean, they've got to say something.
MR. VORESS: No, they don't have to,
John. They don't have to.
MR. PAUL: We're negotiating now.
There's no way -- Because of what we put in
this agreement today and send it to them,
they're not going to accept it, per se, as we
did not accept the one they sent to us. This
is going to go back and forth. Isn't that
what is going on now?
I can't see going over the two million
to start with. They can come back with
another figure then.
MR. AUGUSTEIN: Yeah. They still have
the responsibility of closing out this
settlement, the same as we do. I'm sure they
don't want it on their books. And I don't
think that viewpoint is right that they're
going to just let it go.
MR. VORESS: Well, I wish you guys
would be with them sometime. I think you're
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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missing what that view is up there.
MR. AUGUSTEIN: Well, --
MR. VORESS: They have a different
interest and a different priority level in
their work than we do. That's all I'm saying.
MR. AUGUSTEIN: I know, but I think we
owe it to the constituency to get as low a
price as we can.
MR. RAND: We can at least try. What's
the harm in trying? All they can do is say
no.
MR. AUGUSTEIN: Due to the fact that
Mary Ann has told us we can come up with more
money, I'm going to two five, but not a penny
more right now.
MR. EYPEL: I'd like to make a couple
of comments, if I can. Two things strike me
here.
One, I agree with you, Mayor, that this
is a fly speck on their agenda. There's no
question about it. The problem I have is that
in this community of 3,000 people, when we
start talking about an additional two million
or three million, it's not a fly spec to us.
It's a lot of money. It's a new library.
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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It's the entire renovation of our complex.
It's new fire engines for the next 20 years.
So it's a lot of money I guess to us. But by
the same token, it's a hell of a lot better
than twenty million dollars. Five and a half
sure sounds better than twenty. There's none
of us that would disagree with that.
MR. VORESS: Sure. It's like 15 cents
on the buck.
MR. EYPEL: Exactly. But the
difference between, let's say, three and a
half and five and a half to us, I think is a
substantial amount of money. It's a lot of
money.
What I would propose, or what I might
suggest to you, you know, everyone knows I'm a
Realtor and I negotiate these kind of things,
not this kind of thing, but I negotiate sales
everyday of my life and people's true colors
come out when they sell their home, believe
me, and what they will or will not accept.
And I've been on both sides. I've represented
buyers and I've represented sellers.
There's one other approach that we can
come up with. And that is we could decide on
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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what our limit was, our absolute limit, and
say, gentlemen, this is our Settlement
Agreement. The financial portion, the dollar
portion is not negotiable. Maybe some of the
other stuff is negotiable, but the dollars are
not. This is the maximum amount of money that
the Town of Highland Beach will, can and shall
pay. Then we eliminate the back and forth.
And if we say it with conviction, they'll have
to understand it. The other point that I'd
like to make is when we were in Miami --
that's a day I'll never forget -- it was the
day we went --
MR. VORESS: Keep talking, Arthur, my
prostate's got me. I'll be back in a second.
MR. EYPEL: All right.
(Thereupon, Mr. Voress exited the
room.)
MR. EYPEL: The other point is that
Mr. Daniels was very clear in his advice to us
in how he counseled us on what he felt we
should do to proceed and how we should settle
this case. And I considered those words of
wisdom. I mean, I think he's certainly had a
lot of experience in these matters and I think
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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what he said was valid. And that is, let's
let our lawyers negotiate this settlement.
MS. MARIANO: We need to hold that
conversation for a few minutes because we're
going to get into that.
MR. EYPEL: Okay.
MS. MARIANO: The only real comment I
have with regard to the number is that that
five point five amount was there before we all
went to Miami. Now, their side heard the same
thing we heard.
(Thereupon, Mr. Voress reentered the
room.)
MS. MARIANO: Now, their side heard the
same thing we heard. So they heard the same
thing we heard. So we've got to take that
into consideration, because that was the
amount that was there before we all walked
into that room and all heard the same thing.
They heard what we heard.
MR. RAND: Arthur, I don't think it
would be a good idea to come up with a final
deal and say this is the cash --
MR. VORESS: No.
(Thereupon, Mr. Paul exited the room.)
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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19n
MR. RAND: -- because you're closing
the door to any further negotiation. And if
you back track, they're not going to believe
anything you say as far as negotiations.
MR. VORESS: No, that's right.
MR. RAND: I don't think we should
adopt that stance. I think we should start
with a figure. It's been suggested anywhere
from two to three and a half million, and I
think we ought to agree on that figure, but
not close the door.
As I indicated earlier, speaking for
myself personally, I'm prepared to go to five
and a half million eventually if we have to,
whether or not we get one million dollars from
the insurance company. I'm still prepared to
do it, because it makes a lot more sense to
settle for five point five million than run
the risk of socking us down with a twenty
million dollar judgment.
I mean, we'd be damn fools.
MR. VORESS: Right.
MR. RAND: So what we're doing now is
negotiating and seeing if we can make a good
deal, but by no stretch of the imagination are
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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we talking in terms of shutting the door and
not going up to five and a half million if
this is where we have to go.
MR. AUGUSTEIN: They came up with the
perimeters of zero to five point five.
MR. RAND: Right.
MR. AUGUSTEIN: We're approaching the
half -way mark there.
MR. VORESS: Two to five point five,
Dave.
MR. AUGUSTEIN: Zero to five point
five.
MR. RAND: Well, we can always say
nothing. We can say we refuse to pay
anything.
MR. VORESS: Oh, I see.
MR. AUGUSTEIN: I think that the figure
of two something is a good move in the
direction and they might be willing to accept
it, in view of the fact that Mary Ann pointed
out, it didn't go that well with them at the
trial.
MR. EYPEL: On a procedural matter,
Mayor, is Mr. Roberts going to be the point
man on this negotiation? Who is going to
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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present these --
MR. VORESS: I assume so. The Town
Manager is telling me that it's the
Commission's view they don't want John Douglas
involved in this anymore.
MR. EYPEL: Backing up a second. I
think you're a little bit ahead, Your Honor,
if I may. We're discussing the proposal that
Mr. Roberts prepared.
MR. VORESS: Uh-huh.
MR. EYPEL: Is it my understanding that
if we fill this -- fill in the blanks here,
that Mr. Roberts --
MR. VORESS: Will send it.
MR. EYPEL: -- will send it to the
attorney.
MR. VORESS: Will send it to the
attorney, Judith Thompson, yes.
MR. EYPEL: Okay. And then any
response from the R.T.C. will be --
MR. RAND: Made to Rusty.
MR. EYPEL: -- made to Mr. Roberts.
MS. MARIANO: The only problem I'm
looking at, that's not what I said. What I
said was that the Commission felt that at this
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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point Mr. Douglas needs to just be put on the
back burner.
(Thereupon, Mr. Paul reentered the
room.)
MR. VORESS: You said, you told me that
he was not effective and you didn't think he
ought to be involved in this.
MS. MARIANO: I said that he shouldn't
be involved in the agreement, that the
Commission as a whole needs to be involved in
their portion of the agreement, and that he
should be placed on the back burner right now
and not actively involved directly with the
R.T.C., because really what can he tell them
if he doesn't know what the Commission is
going to do?
MR. VORESS: The only other problem is
he has a kind of relationship with me, and
that's why I'm very disappointed with you,
extremely so.
MR. EYPEL: Well, hold on a second.
Aren't we putting the cart in front of the
horse here? Shouldn't we decide how much
money we need to put in that blank before we
decide who --
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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MR. VORESS: Yes, that's the next step.
MR. RAND: I think that's the next
step. We should decide on what the figure
should be.
MR. VORESS: Right.
MR. ROBERTS: Let me just suggest one
thing. I mean, Charlie is here. Michael is
out there. Is there some question you have
about financing? I mean, I think what you're
talking about and my input, and I don't need a
figure, is that if you're talking about
offering in a counter -proposal money which you
don't have to borrow or fund or whatever --
MR. EYPEL: We're limited.
MR. ROBERTS: -- why do these people
need to be here, okay? If you want to get the
input of -- if you wanted to go say, for
John's or Arlin's five and a half million,
what it is, because I would give you this
input. From my view of it, if you wanted to
go to the five and a half million, not that
you want to do it now, but at some point in
time later, that is a figure, at least from my
view, that is not something you can turn up
within 30 or 60 days.
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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MR. VORESS: Unh-unh. No, that's
right.
MR. ROBERTS: Okay? Now, from a
negotiating perspective, if you say gee, I'll
pay you five and a half million dollars, but
it's going to be over 10 years or 5 years or
whatever, quite frankly, in a negotiating
perspective if I was on the other side, I'd
go, well, if it's going to be paid over
10 years, I want ten million, okay? I don't
want the five. My five and a half is cash
now. And you're telling me you don't have
five and a half cash now, which I don't think
-- correct me if I'm wrong, but I don't think
you could come up with that now even if you
wanted to, okay?
MR. RAND: We don't have the cash in
our possession so to speak, but there is
nothing to prevent us from borrowing the money
and you have two alternatives, one, you can
come up with as much cash as we can from our
own treasury, plus whatever we get from the
insurance company, okay? So we have two, two
and a half million to start with, okay? You
can then go to Barnett Bank and borrow the
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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additional million dollars or two million that
you need for an 11 -month period --
MS. MARIANO: See, but --
MR. RAND: For an 11 -month period you
can borrow, our attorney has told us, that
there's no referendum or any procedure
difficulty in going that route. That puts us
into the next fiscal year. At which time we
can then appropriate the money in the budget
to refinance that loan over a period, my
suggestion would be a 10 -year bond with no
installment repayments, no principal
installment repayments for the first five
years, and make it callable in five years.
In other words, all you would be doing
is paying interest on that obligation for the
first five years. Then you would not be
placing as much of a burden on the people of
the Town because if you borrow another three
million dollars, let's say, at 6 percent,
you're talking one hundred eighty thousand
dollars a year. You already have that in your
appropriation agreement of 6 percent.
MS. MARIANO: That would be the
problem.
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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127
MR. RAND: So you wouldn't even have to
increase the millage rate.
MS. MARIANO: But the problem with that
is when you go in to refinance it for whatever
kind of refinancing you're going to do,
Barnett Bank, because we've already checked
with them, the commercial banks will not do it
without you closing up all faith and credit of
ad valorum taxes where you're getting back
into the other issue. It's like a Catch 22.
MR. RAND: All right. But you can
borrow the money. You can borrow the money
without running afoul of the law. That's the
point I'm trying to make. It's not
something --
MS. MARIANO: If they'll give it to you
without a pledge.
MR. RAND: That's something that we
have to determine.
MR. EYPEL: Well, if we don't know
that, that if we commit money that we do not
have, that we have to borrow, then we have to
set the parameters on how we're going to
finance that. I mean, we could put a number
in here tonight, but we may not be able to --
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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128
MR. VORESS: And that's what the R.T.C.
said it was, the deal that came back here
before the five point five million got entered
into the game, long-term payment, was for an
initial payment of two million dollars with a
payment later on. We could probably do that
right now.
We need to determine from the R.T.C.
whether they will help finance us, and they
have told us that they would. So we can get
financing from them. The question is whether
we can get financing from them such as I asked
Charlie where we would then agree that we
would then pay it off in installments.
MR. SCHOECH: There are a couple of
things to consider here. For sake of
discussion, assume that you're talking about
three and a half million dollars. You're
talking three and a half million. You can
come up with a million and a half out of
reserves, a million from the insurance. That
leaves you another million dollars that you
have to come up with. If you raise your taxes
this next year for one year for a figure just
less than two million, I think a million
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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129
generates about six hundred thousand? Say two
million.
MR. VORESS: Yeah, six.
MR. RAND: Six hundred forty-six
thousand.
MR. SCHOECH: Say you raise it two
million, that gives you money to put back into
your reserve. Then you're done without
borrowing any money if they'll allow you to
defer the one million dollar payment until
December, which is when your first check comes
from the tax collector, you pay them the two
point five now and a million in December,
which you get from raising your taxes, and you
don't have to worry about borrowing anything;
you're done. You don't pay any interest
unless you have to pay the R.T.C. interest for
deferring your payment.
You could also go borrow the million
dollars now, with if you will, a tax
anticipation -- what they call a tax
anticipation note or pledging your ability to
pay that December by raising the taxes. If
you do that, you're going to pay interest to
the bank on that million dollars for the what,
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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10 -month period.
MR. RAND: We already have that money.
MR. SCHOECH: So that's that option.
If you're talking two point five, you've got
the money now and you don't have to worry
about borrowing it, you just need to worry
about paying back your reserves and you can
address that in your budget by increasing the
taxes a half a million or however much you
want to increase them for whatever period of
time.
MR. RAND: Right. Sure.
MR. SCHOECH: So I think at this point
you have to decide how much of a tax burden do
you want to put on the residents for what
period of time? If you borrow money, you've
got the carrying charges which the taxpayers
also have to pay. If you can come up with the
revenue by paying it in December and not
having to borrow, then you've saved that
carrying charge and you've saved the taxpayers
that amount of money.
The first thought that came to my mind
when I looked at this was if the R.T.C. would
agree, and unfortunately or fortunately,
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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131
depending on your outlook, they're going out
of business in December, if they would agree
the best way to do this is to say if it's
five million, we'll raise the taxes two
million for five years. We'll raise five
million dollars and we'll be done and in
5 years and we'll drop the millage back down.
Then you don't borrow any money. Your
taxpayers -- if you borrowed it, they're going
to still have to pay. You're going to have to
raise the taxes to get the debt serviced,
which is going to your principle amount, plus
your interest. If you just simply take it out
of your tax dollars, you have no interest
payments.
MR. VORESS: But you're committing
future --
MR. SCHOECH: You are committing future
taxes. And you're committing --
MR. VORESS: Future commissions.
MR. SCHOECH: -- future commissions.
MR. VORESS: Which you said you can't
Me
MR. SCHOECH: No, you can do that. And
you haven't borrowed any money. You're simply
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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making installment payments, and of course the
contract would have to be so structured.
MR. EYPEL: Excuse me for interrupting
you, but doesn't that get back to the issue of
how do we avoid -- I hate to keep going back
to this, but it's very important to me,
personal liability? Is that --
MR. SCHOECH: As long as you're
contracting for installment payments --
MR. EYPEL: Yes?
MR. SCHOECH: -- you have --
MR. EYPEL: Oh, right.
MR. SCHOECH: You haven't touched any
money you don't have.
MR. EYPEL: I understand.
MR. SCHOECH: Now, the big question
there is whether or not the R.T.C. will agree
to time payments or installment payments. If
they don't or won't, then you have to borrow
the money if it's going to be more than two
point five million.
MR. PAUL: What have we lost if we put
in the two point five in this agreement and
send it to them? I don't think they're going
to take this agreement, and as I said, it's a
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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133
negotiation tool. It's going to go back and
forth between the attorneys.
MR. VORESS: I can now tell you that
when the attorneys try to negotiate something,
it doesn't work.
MR. SCHOECH: I've already had that
experience.
MR. PAUL: I thought we were at the
point now where the attorneys back and
forth --
MR. VORESS: You're asking the
attorneys to negotiate the business
relationships, and it does not work. I'll
tell you that right now. It doesn't work in
the R.T.C. because they have a separate group.
They have the attorney's groups and the
business groups. The business groups make the
decision, not the attorneys.
MR. RAND: But I was led to believe
that the legal side apparently has been
putting pressure on the business side to
settle this thing.
MR. VORESS: No. The business side has
been putting pressure on the legal side, John.
MR. RAND: It's the other way around?
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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MR. VORESS: Yes. Yes. The business
side wants to settle. That's the one we're
talking to. We're not talking about the legal
side.
MS. MARIANO: But the business side has
asked us to respond to the legal side. Their
business side has asked us to respond to their
legal side. That's where we stand now on the
record.
MR. VORESS: That's correct. That's
correct. On what the legal people said.
MR. RAND: Well, why don't we agree
with a figure, because I don't think it's that
serious a problem, frankly, because we have
the borrowing capability. There are various
ways that we can do this, okay?
We already have a cushion in the
present year budget to cover interest for the
highest period involved until such time as we
determine where we have to go, whether we want
to refinance it by a bond issue or other
means, okay? But there are various resources
at our disposal where we can comply with it.
It's not an impossible situation. It may take
a little time, but it can be done.
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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135
MR. VORESS: I have no disagreement
with that. My disagreement is that if you put
the number too low, you're going to
effectively cut off discussions with the
business side and it will be over. And I
think that if it's under three and a half
million dollars, you can forget it. And I
would be opposed to any number under that,
because I think we in effect, would kill
ourselves.
Now, that's based on a year or six
months of negotiating with these people. You
have to decide whether you think have any
feel of what's going on there.
MR. RAND: Why don't we take a vote?
MR. EYPEL: I have one more question.
I tend to agree with Commissioner Rand that I
don't think any of us would be opposed. If we
had to pay five and a half million dollars to
settle this case, Mayor, there's not one
person up here that wouldn't --
MR. VORESS: I'm not arguing that point
really. I'm not arguing that point.
MR. EYPEL: And I am convinced that no
matter where we start, we are not going to end
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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on that number. My only point was let's start
low and go where we have to go. What I'm
hearing though, is that you're saying it's
like the guy who has a house for sale for two
hundred thousand, somebody offers him one
hundred thousand and he doesn't even respond.
MR. VORESS: You've been in that
position.
MR. EYPEL: Of course.
MR. VORESS: Many times.
MR. EYPEL: I have to also say that I
go back to what I said earlier, this is a fly
speck to the R.T.C.
MR. VORESS: It sure is.
MR. EYPEL: But every time we jump a
million dollars, it's a lot of money to the
Town of Highland Beach.
MR. VORESS: Absolutely. But I'm
trying to give you a view from their side,
from the seller's side, Arthur, in your
vernacular.
MR. EYPEL: Well, what are we going to
do, vote on a number or --
MR. VORESS: Let's get a motion to have
a number. What number do you want?
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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Arthur?
MR. PAUL: I would move two and a half.
MR. RAND: I'll second.
MR. VORESS: You'll second it?
MR. AUGUSTEIN: Two and a half.
MR. VORESS: Okay. So we'll have a --
MR. EYPEL: I'm sorry, what are we
voting on?
MR. RAND: A two and a half million
dollar offer, cash settlement.
MR. PAUL: I moved and it was seconded.
MR. EYPEL: Okay.
MR. VORESS: Okay. Any further
discussion?
(No verbal response.)
MR. VORESS: Then I'll ask for a roll
call vote. I guess we'll walk down, Dave?
MR. AUGUSTEIN: Two and a half.
MR. EYPEL: Two and a half.
MR. PAUL: Two and a half.
MR. VORESS: Opposed?
MR. RAND: Two and a half.
MR. VORESS: Okay. All right.
MR. ROBERTS: Okay.
MR. RAND: Now, where do you put in
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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138
agreement, because this doesn't say when
you're going to pay it. Is it at the time of
signing, and whether we have any time period
to do this.
MR. ROBERTS: Yeah, I think that needs
to be decided.
MS. MARIANO: We need some time. We
need time to amend the order and then how
about the hearing?
MR. PAUL: We need the aooroval of the
insurance company.
MS. MARIANO: Well, I don't think this
is going to go to R.T.C. until it goes to the
insurance company first; is that the --
MR. RAND: I'm a little confused about
the remark you made before, Mary Ann. The
insurance company has a veto only to the
extent of whatever payment they're prepared to
give us, but not to the agreement itself. I
mean, we can approve this agreement.
MS. MARIANO: Absolutely.
MR. RAND: I just want to make sure
that that's the case. So we're passing it by
them for their information, so to speak, and
if they have any comments, to make them known.
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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MS. MARIANO: For their support.
MR. RAND: For their support.
MS. MARIANO: If we plan on taking
money, then we're going to have to --
MR. PAUL: They want to see it first.
MR. ROBERTS: Well, the point is that
when John Douglas made his one and a half
million dollar offer, it wasn't passed by the
insurance company, and so they wrote a letter
to Mary Ann saying, you know, if any of that
is my money, don't you think you ought to
check with me first? And I think that's
really what needs to be done here. Your two
and a half million, in my understanding,
includes the million dollars from the
insurance company. That you ought to get a
confirmation from them that it is.
As far as the rest of the parameters, I
don't think, you know, there's no harm in
sending it to them. I don't think they're
going to have any input one way or the other
as long as they don't see something that would
cause them a potential liability in the future
down the road. And I think that if they found
something, you would want to know about it
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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too.
MR. PAUL: They cannot keep us from
signing this agreement. They can say, if you
sign that, I'm not giving you any money.
MR. ROBERTS: Right. No, they can't
stop you from signing this agreement.
MR. PAUL: Partly as a courtesy and
partly so we know how they feel, they're going
to see this.
MR. RAND: Okay.
MR. ROBERTS: Just so I understand,
that two and a half million included one
million from the insurance company --
MR. PAUL: Right.
MR. AUGUSTEIN: I don't feel that we
can place the Town under a financial burden of
adding more debt -- adding debt to it when we
have so much we have to do. We'd be wiped out
with this. To go into a negative thing I
think would not be right without making an
offer like this. They can turn it down, but
they may accept it.
MR. ROBERTS: What do you think the
figure is on getting it in 60 days, payment
within 60 days?
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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41
MS. MARIANO: Oh, I think we could do
that.
Charlie, you've been through budget
amendments before. With the advertising and
D.O.R. and all that stuff,. I think 60 days we
could come up with the money.
MR. SCHOECH: I don't see any problem
with 60 days. Now if the figure ends up being
more than that, then I would --
MS. MARIANO: Then we need to sit down
again.
MR. SCHOECH: Then I would have to look
to the alternative of being able to postpone
the additional amount until December, so that
you don't have to borrow it, but you can do it
with one tax levy.
MR. RAND: That they will be prepared
in the event that it reaches five and a half
million dollars that they will be prepared to
give us until December to pay the balance over
the two and a half million dollars.
MR. AUGUSTEIN: From two and a half to
five and nothing else?
MR. RAND: In other words, if they will
only accept the five and a half million, we
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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would want to have the right to pay the
balance in December.
MR. ROBERTS: We could probably
structure it one million upon execution and
one and a half within 60 days.
MR. AUGUSTEIN: You were thinking of
paying three million dollars?
MS. MARIANO: If we're going to get
three million in December, yeah, we would have
to find those things out, yeah.
MR. RAND: That would give us until
November, and meanwhile we have a new budget
coming up in September, okay? So we can make
the proper appropriation.
MR. AUGUSTEIN: What does the millage
rate have to be on that?
MR. RAND: It all depends. Now, if you
go the way I'm suggesting where you borrow the
money and you don't repay the principle for a
given number of years until such time -- Well,
my theory behind it is simply this. They're
going to sell the property and the builder,
whoever buys it, is going to build on it. So
you're increasing your tax base. If you're
talking about 427 units or let's say 300 --
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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MR. AUGUSTEIN: You're speaking 5 to 10
years down the road.
MR. RAND: Right, but that's why I'm
saying a 10 -year bond, okay, with a 5 -year
call period, but no installment repayments,
no principal installment repayments for the
first five years, okay?
MR. AUGUSTEIN: Just interest?
MR. RAND: Just interest. That's
already provided for in our budget right now
with the three hundred sixty some thousand
appropriation that we made in this year's
budget, okay?
MR. AUGUSTEIN: Okay.
MR. RAND: So you have no problem that
way. But in the meantime, you're going to
increase your tax base over the next five
years, because when the property is sold
they're going to build right away. I can't
imagine them sitting with this property for
another five or ten years.
MR. AUGUSTEIN: Well, right away could
mean two years.
MR. RAND: So you put three years.
MR. AUGUSTEIN: Three years.
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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MR. RAND: So if they build 200 units,
I can't imagine they're going for less than
two hundred thousand a piece, so you're
talking what, a four million dollar tax base,
on which case that's with 1 per mill, that's
four hundred thousand bucks.
MR. PAUL: Well, isn't this financing
discussion kind of moot at this point until we
know exactly what we're talking about?
MR. ROBERTS: Paper changing time.
(Thereupon, there was an interruption
in the proceedings.)
MR. RAND: Before we close the meeting
I'd like to make reference to the remarks made
by Mayor Voress and Town Manager Mary Ann.
When I was approached by Mrs. Mariano
about John Douglas, I think the question was,
do we need John Douglas at this particular
point in time? At no time was I told that we
would no longer require his services. At
least it didn't come across to me that way.
And I told Mrs. Mariano that I would
agree that for the time being we don't need
Mr. Douglas until such time as we reach an
agreement. But at no time did I say, nor was
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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145
it proposed, that we would no longer have any
dealing with Mr. Douglas. Is that correct,
Ms. Mariano?
MS. MARIANO: Yes.
MR. RAND: That what we discussed. Is
that what you gentlemen discussed?
MR. EYPEL: Well, I'd like to add to
that.
MS. MARIANO: I think I couched it, and
you can all tell me if I'm wrong, but as I
talked to each of you, I believe the wording I
used, because I read it off a script was, I
wanted to know from each of you in your view,
where do we stand? Whose job was what and
where did everybody fit into the picture at
this point in time.
And you know, John Douglas was a part
of the team that had been working. And we
need to find out at this time where his
position was; what I was supposed to be doing;
what Rusty was supposed to be doing; what the
Mayor and what the Commission as a whole was
supposed to be doing. So that's where the
conversation kind of surrounded the parameters
of everybody needs to be aware of where we're
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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all going, and we all need to go in the same
direction.
MR. RAND: But I think the point is
that Mr. Douglas has played a significant role
in this particular case.
MS. MARIANO: Absolutely.
MR. RAND: And I don't think it's a
case where this has been money poured down the
rat hole. I don't get that impression at all.
On the contrary. From the reports given to me
by you, Mrs. Mariano, and by the Mayor, I
think Mr. Douglas has played a significant
role. But Mayor, I'm not aware, and I don't
think any of the other Commissioners are aware
of any attempt to dislodge Mr. Douglas. And
if you feel that you'd like to recommend to us
that Mr. Douglas be involved in this matter on
a going -forward basis, I don't see any reason
why we can't discuss it and why that couldn't
come to pass. So I don't think that the door
is closed on that, and I don't think that that
was the impression. At least it wasn't to me.
MR. EYPEL: Can I make a standing
statement?
I guess what we're -- well, my feelings
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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were along those lines, except I would modify
them to this degree. I think the most
important issue or the most important thing we
need to do right now is appear to have a
united front here to our enemy. The R.T.C.
are the people that have sued us. They are
the people with a twenty million dollar
judgment against us. And I consider
Mr. Hambric and Company, until he signs an
agreement, a settlement agreement, he is the
enemy. And we need all the help we can get in
dealing with him and his entourage.
But I feel right now we're at the point
where we have a settlement agreement that we
can fill in the blanks and present to the
R.T.C. I definitely feel that Mr. Douglas has
been a value to us. I don't begrudge any of
the monies the Town has spent engaging his
services. I definitely feel we should keep
him onboard on the back burner, so to speak.
And I think I understood you to say
this, Commissioner Rand, you said until an
agreement is reached. Well, I think what you
meant to say is if an agreement is not
reached, then we will need Mr. Douglas'
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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continued efforts. And we should -- when I
say "an agreement", I'm talking about this
document, Mayor.
MR. VORESS: Uh-huh.
MR. EYPEL: I mean --
MR. VORESS: I hear what you're saying,
Arthur, but we're not going to tell him
anything until we get into trouble. And he's
dealing and I'm dealing with the business
interests.
And we say when we get into trouble,
we're not going to tell him anything
beforehand. Then we're going to ask him to
help us again. I'm telling you that doesn't
work.
MS. MARIANO: We'll keep him advised.
We're going to keep him advised.
MR. RAND: You're going to give him a
copy of this agreement, I presume, right?
MR. VORESS: I don't know. The Town
Manager refused to send this to Mr. Douglas.
I was forced to send it to Mr. Douglas. I am
completely disappointed with the Town Manager
at this time.
MS. MARIANO: Now, Mayor, our
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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discussion was at that point until today I
said that because of what I have been told by
the members of the Commission, I could not ask
him. You were sending it to him and said that
he was to have an ongoing and continuing
dialogue with the R.T.C. at this time, a
continuing dialogue.
And I said well, I didn't feel the
Commission felt that way, and until today and
until we decided who was supposed to do what,
I did not feel that I could send it to him and
ask him to have that continuing dialogue. But
if you wanted to do that, then you could do
that.
I told you we were going to wait until
today. This was only four days ago. It
wasn't like we were waiting a long time. We
all needed to be on the same page before I was
able to say, here, Mr. Douglas, here's the
agreement. You know, go forward and have
dialogue with the R.T.C., which was what you
were asking him to do. And I could not ask
him to do that based on the conversations I
had with the remainder of the Commission.
MR. VORESS: I see what you're saying.
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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MS. MARIANO: So that's what we are
trying to resolve today.
MR. EYPEL: Mayor, are you not of the
opinion -- let me ask this question. Should
we have a two-pronged attack here or how do
you suggest we pursue?
MR. VORESS: I'm saying to you that as
late as, what, four days ago, Jay Hambric, who
is head of the business area, doesn't even
know whether we're interested in going ahead
to pursue a settlement. Now, you can agree or
disagree that that's true, but that's his
statement to me.
MR. RAND: Well, we didn't decide
whether we were going to pursue a settlement.
MR. VORESS: Does anybody here not want
to try to pursue a settlement rather than wait
for the Courts?
MR. RAND: Well, we've agreed to that,
but we didn't know what the settlement would
mean until we sat down in this particular
session.
MR. VORESS: But as a result of his
experiences so far, he thought maybe as a
result of the hearing in Miami, that we were
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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going to rely on the Courts and not on the
settlement agreement.
MR. RAND: Well, he'll know differently
when we send him this proposal.
MR. VORESS: I know. And so the way
you keep your client -- or your opponent
involved in the information flow, is to keep
talking with them about what you're doing.
We're trying to get something together. We
have some problems on our own. We're trying
to get those resolved, and we're going to send
something to you.
MR. EYPEL: That's not a problem.
MR. VORESS: Who is that person? What?
MR. EYPEL: That's not a problem.
MR. VORESS: That's what I'm saying,
it's not a problem.
MR. PAUL: And I need to be clarified.
I mean, I don't know, because I'm going by the
letter that they sent us.
MR. VORESS: Right.
MR. PAUL: And it says, I have enclosed
a settlement stipulation which is consistent
with the above founders and considered a basis
for discussions between our attorneys in order
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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to finalize this settlement. Please have your
attorney contact Judith Thomas.
So who now is the -- I thought it
reached the point where now it's just back and
forth there. Get these two pieces of paper
where they are agreed upon.
MR. VORESS: If you were doing that
between attorneys on the same deal, it would
be one thing. But you're changing the deal.
MR. PAUL: What deal are we changing?
MR. AUGUSTEIN: There's no deal.
MR. VORESS: You're changing the
proposed deal, which this is.
MR. AUGUSTEIN: I thought that was the
normal fashion.
MR. VORESS: What? That's no problem
in doing that.
MR. PAUL: It was considered a basis
for discussion --
MR. VORESS: Absolutely.
MR. PAUL: -- between our attorneys.
Today we had this meeting.
MR. VORESS: I keep missing to you.
The attorneys do not make the business
decisions of R.T.C. They merely respond to
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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what the business group tells them to do.
MR. RAND: But when the attorney gets
this agreement, they're going to take it up
with Jay Hambric for the business side. They
have to. So he will be informed of what our
feelings are.
MR. VORESS: Yeah.
MR. RAND: And that we're willing to
pursue the goal of settlement. I mean, that's
really apparent. But at no time do we want to
exclude John Douglas, and certainly I would
recommend that a copy of this agreement when
it's finalized, be sent to him for his
information.
MR. VORESS: Oh sure. I think it
should be.
MR. EYPEL: I just want to ask another
simple question for clarification since we're
all together. Is Mr. Douglas, is he wearing a
business hat or a legal hat?
MR. VORESS: A business hat.
MR. EYPEL: A business hat?
I guess it's getting late.
MR. AUGUSTEIN: We should have our
attorneys get in touch with their attorneys.
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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MR. VORESS: Right.
MR. AUGUSTEIN: This agreement when
completed should be forwarded to their
attorney.
MR. VORESS: That's correct.
MR. AUGUSTEIN: If you want to send one
to John Douglas --
MR. RAND: When we're in trouble, we're
going to contact John Douglas. That's how we
got him into the picture in the first place.
MR. VORESS: Right.
MR. RAND: It's because we were in
trouble.
MR. VORESS: And he's been effective in
helping us.
MR. RAND: And I've said that. He has
absolutely done --
MR. VORESS: And the Town Manager told
me she didn't think he has been effective.
I'm discouraged with her, that's all.
MR. RAND: I would like to confer, if
you would, and I hope I speak for the rest of
my colleagues, that Mr. Douglas is still
onboard to the extent that we may need him and
if you feel that there's any service that he
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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ME
should perform at this point time, make a
motion or a recommendation and let him.
MR. ROBERTS: Let me just say a couple
of things.
When you are dealing -- I think after a
meeting I had with the R.T.C. and the Town
Manager and Mayor Voress at the Hilton, the
R.T.C. people, in my view, don't have an
appreciation for how business is down in towns
in Florida, quite frankly. And I think that's
evident by the fact that they want five and a
half million by wire transfer.
Hambric deals with you know, as he told
us at that meeting, the Mayor of Boston, the
Mayor of Baltimore, and he was proud to tell
us what his record batting average was with
those Mayors and stuff like that. And we
tried to emphasize, at least I did, that you
know, this is not Boston. This is not
Baltimore. This is a 3,100 population town
pursuant to Florida Law.
And my concern, and without getting
into the discussion of who is going to do
what, I think that why we're having this
meeting tonight is that I don't feel
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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comfortable meeting with those people and
telling them where we're going and what we're
doing until we have an agreement here at this
meeting and we've gone over it and we have a
decision.
And you know, at the conclusion of that
meeting their Counsel Feeny, they had two
lawyers and Hambric there. He wanted to know,
well, what's your recommendation on you know,
what we've said here tonight? And I told him
flat-out what I told him I would tell them,
that my recommendation goes to my clients, not
to you.
And those people certainly want to get,
you know, advanced notice of what your
feelings are and whatever, and I just refused
to give it to them because that is part of the
negotiation process. If I tell them, yeah,
it's a great deal, then that's going to hamper
you in your negotiation process. If I say,
yeah, I'd recommend this to them, they're
going to say, hell, if their attorney
recommends it to them and they come back with
less, I know where they're going, okay?
So my concern in all of this is that
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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157
there be one, whoever makes it, there be one
communication between them at this stage of
the game. Because if you have more than one
communication, then that's going to hurt your
negotiating process and stance.
If somebody can call up -- well, if
Hambric can call up Douglas and say, well,
this is what they sent, what do you think
they'll really do? And that's not really what
you want, then I think you've got a problem
there and you've hurt yourself in your
negotiating position.
If you have only a decision as to where
you're going in meetings like this and there's
no statute that doesn't say you couldn't have
a meeting like this once a week, okay? I
think that's the appropriate way to do it.
And I go that upon the fact that I
clearly wanted to have this meeting. I
clearly wanted to have the public here.
Mary Ann asked me that, and I go upon what I
think the State's advice with Sam Daniels,
that you need the public involved because it's
a momentous decision which affects them. And
likewise I think in order to get the best
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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deal, that you need to have only one voice
going back to them and talking to them,
sending out this thing, getting back their
response, and then the only discussion of it
being back at a meeting like we're having
tonight. And not anybody's view of whether
it's good, bad, or indifferent, because I
think that just hurts you. And I think that's
probably part and parcel of the issue of
whether John Douglas is involved or not.
Nobody is saying that Mr. Douglas is
not involved, but if he has a relationship
with these people and he's made comments to
the effect that, well, you people knew you
would have to pay twelve million all along
anyway, I think that that's the sort of
realization that, you know, I've done my work,
and I've got you where I want to and now, you
know, whatever.
But Mr. Douglas is not here tonight,
and I wouldn't suggest in the instance that
you need him down to do this. He is not your
legal counsel. He's essentially your trump
card, and use him as that if you need it.
But I guess from my perspective is that
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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159
if you have Mr. Douglas, and Hambric calls up
Douglas and says, well, what do you think
about this? What is Douglas going to say?
What do you figure about this provision
they've got in here? I can't live with that.
What do you think they'll go along with? And
Douglas gives them advice. You don't know
that, but it's somebody who said it on your
behalf.
And R.T.C., just like every Federal
Government agency you've gone before, is
trying to use every avenue they can to get
their position. They had ten people at that
oral argument down there. They had all their
lawyers. They had their second and third in
command. They had three lawyers there. They
had ten people there, and why were they there?
Basically to get a big view of what was going
on. And, you know, certainly the more
information they can get from us, the better
off they will be.
As far as from our perspective, an
important thing that the Mayor found out is
that they're putting this property up for sale
at auction. And I asked him to send it to me
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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because one of the things of interest to me is
it's being set up for at 346 units. What does
that tell you, okay? I mean, what it tells me
is that if you wanted to negotiate that
427 units, you could certainly negotiate it.
If they're turning around and offering
it for sale at 346, that's a bonanza. That's
gravy. You could do less, I think.
Realistically who cares. Okay. They're not
going to build anything more than that, so why
bother with it? But those are the little
tidbits of information. And I think the
perspective is that the more people you have
involved, the more mouths will be talking and
you don't know what they're saying. And you
don't know whether it's helping you or it's
hurting you.
MR. EYPEL: I'd like to say one more
thing also if I could.
Mayor, I think that every one on this
Commission, myself included, I feel that we
could never have gotten where we are, had it
not been for your efforts and the efforts that
you and John engaged in with Mary Ann.
We certainly, in my opinion, we have
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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161
come full circle. This meeting tonight, to
me, is an extremely positive meeting. I think
we're on the road to settling this and I think
that this is really an opportunity to present
a united front and to move forward and try to
settle this case.
You know, I also want to join
Commissioner Rand in saying that I want it
clearly understood that I'm not for putting
Mr. Douglas out to pasture. I think he's an
experienced trump card that could be of vital
use to us. I don't know if it's tomorrow or
the next day. But I would like -- you know, I
wanted you to understand that I am not of the
opinion of --
MR. VORESS: Well, let me respond.
MR. AUGUSTEIN: May I say something?
MR. VORESS: Sure.
MR. AUGUSTEIN: In my discussions with
Mary Ann, doing away with John Douglas was
never mentioned. The suggestion was that for
the time being we might put him on the back
burner, to use the expression, and I'll go
along with that. I believe that it is time
now to put him on the back burner until we
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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need him again.
MR. VORESS: Okay. I also want this
suit settled. My concern and my fear is that
we turn the R.T.C. off and they decide it
isn't worth anymore priority effort on their
part.
Okay, Bill?
MR. PAUL: No, I just think that it
seemed to me that we're at this point where
it's set forth here and that we need only one
direction, not two different arms going, and
that we're at the point where only these kinds
of meetings can now -- we've gone through the
bit of going through intermediaries and
somebody else trying to -- well, we now have
to meet like this. When something comes back
or we get some response from this, then we
meet again, see where we are then.
MR. VORESS: I accept the will of the
Commission. I'm just telling you what my
experience is.
MR. AUGUSTEIN: I think they have to
answer us when we make the offer.
MR. EYPEL: Is it your feeling, Arlin,
that they're going to shut the door on us when
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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we send them this document?
MR. VORESS: I think that potential
exists. I think that potential exists. It
may not.
MS. MARIANO: I think if they don't
answer us in a week or two weeks, I pick up
the phone and I call and I say, Scott -- in
fact I talked to Scott yesterday from Clay
Shaw's office, and at that point we could call
Clay's office or we could call Connie's
office, or we can call you know, Bob Graham's
office and say, look we sent them something.
We haven't heard from them. Send a letter to
inquire. Find out what's going on with this
settlement. And they'll be willing to do
that.
MR. EYPEL: I don't think, Mayor, that
-- well, I hear what you're saying and I agree
with you that there is a potential for them to
clam up. But I don't think that it would be
very hard to light that fire again.
MR. VORESS: I accept the view of the
Commission. I'm merely telling you what I
think is the potential.
Do we need anything else?
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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164
MR. ROBERTS: I'll take what you have
here, draft it up and send it all back to you
before it goes out.
MR. VORESS: Okay.
MR. ROBERTS: Make sure it's all
correct and you can all just confirm that to
me, the understanding, and I will take and
send it by overnight up to Scott Pendley and
ask him to get a quick answer to that. And
then from there, what's to do, we'll send it
out.
MS. MARIANO: Should I tell Doris to
come in?
MR. ROBERTS: Yeah.
MR. RAND: Are we going to send a copy
to John Douglas for his information only?
MR. ROBERTS: That's your decision.
MR. AUGUSTEIN: Well, giving him a copy
is giving him the information.
MR. RAND: Yeah. Not that he
negotiates it, we're just simply --
(Thereupon, Doris Trinley entered the
room.)
MS. MARIANO: Well, probably when Rusty
gets it finished, this is why we --
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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MR. AUGUSTEIN: If we're sending it to
the R.T.C., it makes no difference.
MS. MARIANO: Yeah.
MR. RAND: We're just sending it as a
courtesy for his information, but not to
discuss it or negotiate it until we request
it.
MS. MARIANO: Okay.
MR. ROBERTS: I think you probably have
to move to adjourn this meeting.
MR. VORESS: Yes.
MR. AUGUSTEIN: A motion to adjourn.
MR. PAUL: Second.
MR. VORESS: All in favor?
ALL COMMISSIONERS: Aye.
MR. VORESS: Move this meeting as
adjourned.
5:00.
MR. ROBERTS: The time is 10 after
MR. VORESS: Seven.
MR. ROBERTS: Seven.
(Thereupon, the meeting was adjourned
at 7:10 p.m.)
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S.E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955
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CERTIFICATE
I. DENISE CUPELLI, a Shorthand Reporter
and Notary Public, do hereby certify that an
Executive Meeting of the Town Commission of
Highland Beach, Highland Beach, Florida, was held
at Commission Chambers, 3614 South Ocean Boulevard,
Highland Beach, Palm Beach County, Florida, on
Tuesday, February 28, 1995; that I was authorized
to and did report in shorthand the proceedings of
said meeting; and that the foregoing pages,
numbered from 1 to and including 166, represent a
true and correct transcription of my shorthand
notes of said meeting.
Dated this J day of ,
---------------_________ �_-- __
Shorthand Reporter and NZtary Public,
State of Florida at Large
THE STATE OF FLORIDA
COUNTY OF PALM BEACH
The foregoing certificate was
acknowledged before me this day of
19___, by Denise Cupelli, who is
personally known to me. ...,,
Notary Public - State of Florida
My Commission No.
Expires:
tkPATRICIA, 8V0 LFARTH
Wnia r Public, Stype of Florida
my f', orr m. Expirc-s Oct. 4,1998
P-Ri. +CC 391130
Ek)r�tled-d���:;1�4t>itriut '%tr�tary i��r�te�r
MUDRICK, WITT, LEVY & CONSOR REPORTING AGENCY, INC.
5th Floor • Comeau Building Suite 1515, 1 Financial Plaza International Place Suite 205
319 Clematis Street NationsBank 100 S. E. 2nd Street • 23rd Floor 2499 Glades Road
West Palm Beach, Florida 33401 Ft. Lauderdale, Florida 33394 Miami, Florida 33131 Boca Raton, Florida 33431
Area Code (407) 659-4155 Area Code (305) 525-6723 Area Code (305) 371-2713 Area Code (407) 338-0955