Clay, Thanks for your quick response. See my notes below. I think we're both on the same page now, thanks for all your help! I've attached the revised spreadsheet. It shows we have just less than $1 million that is remaining for appropriation to the Vitruvian Park development project. I will be updating this on a monthly basis to capture payments to vendors, revenues received, and new contracts approved by Council. Thanks, Marisa From: Clay Barnett Sent: Wednesday, December 15, 2010 2:14 PM To: Marisa Perry Cc: Alison Ream; Tom Forrest Subject: RE: Follow-Up to Vitruvian Contracts Marisa, I will answer them below. If you have any additional questions, please let me know. Thanks, Clay Barnett, P.E. Town Engineer Town of Addison 16801 Westgrove Drive Addison, TX 75001-2818 Office: (972) 450-2857 From: Marisa Perry Sent: Tuesday, December 14, 2010 5:25 PM To: Clay Barnett; Alison Ream Subject: Follow-Up to Vitruvian Contracts Clay and Alison, Okay I've gone back through and compared our information using our notes from this morning. See the following comments from my review: UDR Phase 1B - Your cost analysis includes $315,523.50 from AT&T. We actually received $315,970 from them. This is hilarious and reflects the disorganization of AT&T. They bickered about an amount that was included with Invoice #2, so they requested that I revise it. The delta was $446.50, so it appears after bickering with me for 3 months to get the invoice revised, they paid the wrong invoice. I guess there is no cure for incompetency. I am not sure how to handle it other than to add the amount AT&T contributed to Phase 1B and deduct that amount for Phase 1C. I will correct it in my spreadsheets and worry about the changes the next time we have a MFA amendment. Sounds good - thanks! J UDR Phase 1C - UDR's attached invoice says their fee is 6.37%, not 8% as indicated in your calculation of their $581,291.43 fee. The fee at 6.37% is $462,853.30. Also my records show that we have not received the $1 million from Dallas County or the $23,840.50 from AT&T included in your cost analysis. UDR is using a percentage of the total construction cost for their billing. Since the Master Facilities Agreement states that they get 8% of the amount of construction that the Town is paying for, we need to back out the amount that is not covered by the Town which is approximately 20%. This yields 6.37% of the total construction cost for the fee. This of course changes as the amount contributed by other parties increases, so we will need to assess where we are at prior to paying them the final check for Phase 1C. This makes perfect sense. I calculated the 8% of the net Town expense and the 6.37% of the total expense and saw that the amounts were extremely close. Excellent! Dallas County was billed for $500,000 of the $1 million. You were copied on the emails. The remaining $1.2 million ($500k for Phase 1C and $700k for Phase 1D) is due at the completion of the park and bridges. Yes, sorry I wasn't clear. I just wanted to let you know we haven't received anything from Dallas County yet. I will add these notes to my sheet. The facilities for AT&T will not be installed until around April or May. We will bill for them at that time. I will add these notes to my sheet. UDR Phase 1D - UDR's attached invoice says their fee is 4.75%, not 8% as indicated in your calculation of their $220,095 fee. The fee at 4.75% is $130,681.18. Also my records show that we have not received the $700,000 from Dallas County or the $106,706.06 Unfunded Portion included in your cost analysis. Similar to above, yields 4.75% of the total construction amount for Phase 1D. Same thing as above, I calculated the amounts and it makes sense now. I met with Lea and Tom this morning to discuss the unfunded portion of $106, 706.06. Lea and Tom are going to discuss it with UDR on Friday. Let me know your thoughts. Marisa Perry, CPA Financial Services Manager Town of Addison (972) 450-7064