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0 <br />We came up with a figure of $2,800 for every unit as a price to <br />include in our sale price. We felt that in the price range that we <br />want to offer these units at, we had to do everything possible to <br />minimize the costs that went into it. So, rather than taking some <br />percentage that everybody uses, we tried to do exactly that. We <br />tried to minimize the items that went into increase the sale price, <br />in essence. There's just no matchable way you can come up with the <br />number we have. That's the number we came up with when trying to <br />minimize those costs. <br />Steve Yurick <br />"If there are several additional questions for which responses are <br />necessary, would you be willing to work with our redevelopment <br />consultant to answer these questions?" <br />Certainly we would be. <br />(Sundland) Questions from the Board? <br />George Marks <br />(HRA) You have a very impressive array of companies that you brought <br />together for this team, and I was wondering if you could elaborate <br />a little on your experiences of working together, the various members <br />of this team and past experience that you have. <br />Steve Yurick <br />OK. Let me start with our design man, the architect. Gary Tushie <br />and I have been trying in essence, to put together a project for some <br />time. We have talked many times in the past on other project areas, <br />trying to put something together. This is the first time it has <br />clicked for the two of us. We have been very impressed with their <br />company's background around the country and and locally with what <br />they do in the field of design and what they do in trying to keep <br />things from a cost standpoint within reason. It isn't just a design <br />for doing this, but a kind of approach. They are generally aware of <br />cost factors that have to go into a project. <br />Rothchild Financial Corporation. They are currently financing our <br />new development project in St. Louis Park. We are in the final stages <br />of closing approximately two other condominium developments in the <br />Twin City area with the assistance of their financing and their <br />arranged financing. We have been working with them about a year and <br />found them to be very helpful to our needs. <br />Kraus Anderson - this would be the first time we would be working with <br />the KA group and I guess to be quite honest, we felt we needed a name <br />contractor to get involved in a project of this magnitude. We are <br />not contractors ourselves and we need that type of experience, that <br />type of expertise that Kraus Anderson provides in order to make this <br />a viable project. <br />(Sundland) Yes, Mr. Krier? <br />(Krier) Is Arkell going to be the people to enter into the agree- <br />ment or Kraus Anderson and Arkell entering into the redeveloper's <br />agreement? , <br />