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ME association so it is able to function when that first homeowner board comes on line. As you may be familiar, the Minnesota Condominium Law requires that a certain number of homeowners are elected to that board at certain phases in the development of the project. We found that it is very helpful to us and to that association to have a strong effective homeowner board in operation, particularly during the last phase of a sell out of a project. At that point in time, we generally leave it up to the homeowners to determine who is going to come in and manage their property and in most cases they will go to a pro- fessional outside manager. Steve Yurick eI� when would you begin construction of the first unit?" We'd like to begin construction of the first unit very soon. A selling season is very critical to the success of any project. The sooner we can begin, the more successful that project will be. We have a little less concern about that matter in phase one than we might typically have in the other market rate sections and I think the reasons being obvious from all the studies being done, it may not matter when that particular phase is started, it should be very successful. But, to actually answer the question, I guess originally we had anticipated beginning construction in July. I do understand that that is physically impossible to follow the whole process that has to be done from the time of selection of the redeveloper to the time that would start so again, if we are selected we would like to keep in close contact with the City and do whatever we can to speed up that process and start as soon as possible. Is Steve Yurick 'Please describe specifically your redevelopment experience, including the name of the project and the City where the project is located". As Arkell Development Corporation, we have not done a redevelopment project. We again look to the experience of team members we have put together. In addition to the experience that I was able to gather in my initial years at the Knutson Companies where Knutson was involved with the City of Minneapolis in an extensive development of the downtown area. The Towers was a part of that, the River Towers for the elderly was another part of that. I was with Knutson for those two particular phases and I was involved in the application processes to the City and in the marketing process of those units. Steve Yuruck e1"Ta) n would you begin your condominium presales and how would you presell?" We typically begin our condominium presales with approximately 30 to 60 days prior to putting a hole in the ground. It would vary from project to project. In this particular case, especially for phase 1, I would think that's exactly when we would start. There is already a certain degree of enthusiasm being generated throughout the com- munity for this particular development and I think being able to capi- talize that enthusiasm will only benefit this particular development. We would presell those units probably, and I say probably because ' quite honestly we have not put together a detailed market program on this , but I would say using various community resources exclusively.