Laserfiche WebLink
Background <br /> • $500,000 transferred to the City at closing <br /> • If Touchstone meets the equity financing deadline, <br /> the debt financing deadline, and the construction <br /> start deadline, then Touchstone is entitled to get the <br /> $500,000 back <br /> • If Touchstone misses any deadline, the City may <br /> terminate relationship, keep the $500,000, and get <br /> the property back <br /> • Touchstone met the equity financing deadline by <br /> raising the necessary $6,000,000 <br /> • Last week Touchstone requested extension of the <br /> debt financing deadline and the construction start <br /> deadline <br />