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1 <br /> Included in the definition of material modification is the concept that an accumulation of changes which <br /> reduce the construction costs by$200,000 is material. The budget savings from the four changes <br /> combined are well below the threshold and less than one quarter of one percent of the total budget. <br /> This project was originally designed five years ago to comply with the City's desire to have an 8 story <br /> hotel on the property. All construction projects evolve throughout the development process and <br /> changes are inevitable as consultants,contractors,and subcontractors weigh in with their specific <br /> knowledge,experience,and requirements. This project is no different. Touchstone believes the final <br /> design achieves all the requirements of the purchase agreement and the project design criteria. Some <br /> variation was allowed so long as the exterior was substantially similar in appearance and quality,and <br /> this is the case for all four of these modifications. <br /> As part of this discussion,it is relevant to note that Touchstone has agreed to cost increases caused by <br /> changes to the interiors to meet new Marriott standards even though they weren't required under the <br /> franchise agreement. Touchstone has also agreed to install three decorative light posts at street level in <br /> conformance with Everett's desire for coordinated street lighting in the immediate area even though it <br /> was not a requirement of the building permit. The point is that Touchstone is looking not to cut corners <br /> but to make the project of high quality with lasting value. The changes in question are not material,do <br /> not diminish the value of the project,are part of the natural process of moving the design from <br /> conceptual to final,and ultimately enhance the project. <br /> We respectfully request that the City approve each modification as either reasonable or not material. <br /> Touchstone and its architect,Jeff Williams of Johnson Braund,would be happy to answer any questions <br /> about these modifications prior to or at the Council meeting at which this is on the agenda. <br /> Respectfully, <br /> James D.O`Hanton Jose h M. Poll o <br /> Manager,Touchstone Everett Hotel LLC Senior Development Manager <br /> 3 <br /> 4 <br />