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TYHA /Orange Co. Facility: Page Two <br />subsequent lease at cost, by a subsidiary of the owner to the joint <br />users (TYHA and Orange County) is possible. <br />The owners of the property will benefit by this donation by establishing an <br />appropriate atmosphere for the proposed mixed use development and the new <br />facility will help to attract additional quality users. This has obvious <br />future economic benefits for the property owners. <br />The projected income from the TYHA operations is sufficient to maintain lower <br />public usage fees, provide for maintenance requirements and amortize the cost <br />of the improvements for its operations. The joint use oflthe facility by <br />Orange County and TYHA would enable the development of much nicer facilities <br />than either entity could probably afford if developed alone. This project <br />could well serve as a model for the kind of public /private effort that best <br />benefits the community. <br />If Orange County elects to participate in this project and', to finance the <br />improvements related to this project or other county projects in the same <br />development through the issuance of bonds, Citation Equity Corporation <br />(parent company of property owner) has indicated a willingness to purchase, <br />at market rates, at least fifty percent of the bonds issued. This bond <br />purchase would save a considerable amount of money in brokerage fees. <br />We are looking forward to meeting with you at your convenience to discuss <br />this opportunity. Please feel free to contact us at any time iif you have any <br />questions. <br />Sincerely, <br />For: <br />TRIANGLE YOUTH HOCKEY ASSOCIATION <br />Lb. I IL" <br />Daniel G. Kidd, President <br />Triangle Youth Hockey Association <br />Post Office Box 656 <br />Hillsborough, NC 27278 <br />919- 992 -5359 <br />For: <br />CENTERPOINTE DEVELOPMENT, INC. <br />Neal Littman, Project Manager <br />Centerpointe Development, Inc. <br />228 South Churton Street <br />Hillsborough, NC 27278 <br />919 -732 -7568 <br />