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r -2- The developer indicated further that: •. Kloster- Madsen' s attorneys would- be unable.to get �the paper .,work connected with the partnership completed before the- January 30th deadline;. - he perceives the two firms are 85% to 90% of the way home towards that objective; a 30 day extension to complete those arrangements would be . . required; he hoped the month' s extension would not result in more than a month' s delay in the June date set by the bonding requirements for "showing marketable progress in construction. " Chairman Sundland reported his conversation at , 5: 00 P.M. that afternoon with John Ryan, the. Kloster Madsen President in which•'he had learned the following: Kloster Madsen has a strong interest in the project; the firm had been erroneously told Phase II would be for rental . to persons over 55 and Phase III would be rented to anyone (it will all be 55 and over) ; • - the Kloster Madsen President had agreed with the H.R.A. Chair that the "two would not mix" ; one of Kloster Madsen' s greatest concerns was Amendment 9 , Section 4, of the Redeveloper' s Agreement, which the contractor perceived unnecessarily tied Phase I , completed by another. : developer, in with Phases II and III; Kloster Madsen did not anticipate it would take a whole month to clear up questions they had but considered a month a "comfortable cushion" to work with; the - contractor*-considered a meeting with the H.R..A.. Chairman; Executive Director, and Attorney would be very helpful. , The Chairman- indicated - he personally was - very pleased that- Kloster Madsen, a firm with - a good reputation, was interested. in' the. . -proj'ect'; perceiving this would be. "a partnership made'.-, =in heaven" as 'far as St. Anthoriy-� .'is -:-: ftcerned: He. also corrected :the impression that Arkell had any control .over .the arbitrage.._ Mr'. -Ar:kell : agreed -`with,; that conclusion and . said he thought, the contractors had ' fully-understood he never again wanted to go through the trauma 'of another -large crowd of- neighbors.- protesting 11150 college kids moving . into •one of the buildings..'- . The developer then told the H.R.A. !