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WILL HOUSE OF SPORTS GIVE TOWN $3.5 MILLION WITHOUT CONDITIONS? COPY OF LETTER I SENT THEM YESTERDAY
Release Date: June 06, 2013

As always members of the Town Board and I want the town to receive the most revenue and the best use of the Frank’s nursery property. House of Sports made an offer of $3.5 million compared to $3 million for Game On. Both expressed interest in building a sports facility at the old Frank’s nursery. I sent the following letter to House of Sports executives yesterday morning relating to their offer. Haven’t received a response as of yet- hope that we will receive a response tomorrow.
The Town Board will discuss the response at our work session Tuesday.
PAUL FEINER

From: Paul Feiner
Sent: Wednesday, June 05, 2013 11:51 AM
To: 'Donald Scherer'; Timothy Lewis
Cc: Town Board; stephanie israel; irin
Subject: question about your offer...

Dear Donald:
I am re-thinking your offer to purchase the former Frank’s nursery development for $3.5 million with no conditions. I have a question which I hope you will respond to.

If the Town Board decides to accept your offer to purchase the land – would you be prepared to deposit 10% in a non refundable deposit subject to the town providing marketable title to the development and the balance of the offer at closing?

There would be no conditions attached to the offer, no commitments that the property will be rezoned (although I believe that a recreation use is good public policy for the town) and you will be required to do all the environmental remediation. I would be most appreciative if you would respond by the end of business on Friday. The Town Board has a work session on Tuesday.

PAUL FEINER
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