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EmPOWERment, Inc. <br />Reclaiming the POWER of our Communities <br />BOMD OF DIRiCT'ORB <br />Prvi n S. Fomhee, President <br />NwAW&Camsmu�YAxwak w <br />Stepney Edward:, Vice President <br />Mrdrey B-i-Shop <br />AxhL-y 0sn=t, SecreftLy <br />AMwgm McSwr# & O=W <br />Jane Stein, Treasurer <br />CAW C"Mff Septa Fsaardabin <br />SAM Brooks <br />REALTOR <br />Barbara Brown <br />Cor C#Wf Ndgb6wd ead Atwdab'ox <br />nk.tw Bumette <br />LVdSbadN -r h&r,�A —madon <br />Paul Caldwell <br />Nwd%ik Gmm Ai6,Atsadadwa <br />Rev. Robert C npbeR <br />Rogan RandNdgbl-d A —dad- <br />Matthew Feanington <br />LA!)asbadN -ghiv 6aadA,rs A*- <br />Beth Flora <br />GarCoastNg0iv �A=akWw <br />Myles Presley <br />Dbwt*r <br />Mamcine Machell <br />Commtad# D- bpwntt Spada&d <br />Terry Carver <br />P- <br />Shannon Smmden <br />Yoid O vvivr <br />Jeff Caiola <br />Lgkm <br />ADD>3 <br />705-A West Rosemary Street <br />Caaboro, NC 27510 <br />Phone: (919) 9674rM <br />Fax (919) 967-0710 <br />empowemnen6 -@D indspymg oonz <br />November 23,1999 <br />TO: Tara Fikes <br />FROM: Myles Presley 199 <br />NOV 24 <br />RE: Bond Requests <br />I am writing to update you on the status of our proposed Pine H II Drive condominium <br />development. We are under contract to dose on this property by December 15, 1999. The <br />sellers have patiently waited for us to mobilize project financing but are unwilling to delay <br />further. We have been under contract to purchase this property since April. As you know, <br />our approach to housing development focuses on purchasing existing homes and infill <br />property. It is rare that a seller is willing to wait 8 months to dose a deal. This is why our <br />request for Bond funding for the Community Revitalization Loan Fund is so important. We <br />hope the Board will approve our request for Pine Hill Drive, and that the staff will quickly <br />complete review of the Loan Fund guidelines so that the Board can consider our funding <br />request for that initiative. Please contact me should you have any questions. <br />6 <br />