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Committee presses staff for clearer finance materials: developer fee, COPs and bond structure to be detailed next meeting
Summary
Members asked for spreadsheets, risk/mitigation documents, debt comparisons and a clearer org chart showing ownership, fee developer and the nonprofit conduit. Staff said the predevelopment agreement includes a 3% developer fee and pledged to post pro formas and a debt comparison ahead of the finance meeting.
Committee members focused much of the meeting on how the Catalyst project would be structured and financed, and they pressed staff to post detailed financial materials ahead of a scheduled finance session.
A committee member asked directly about the developer fee in the contract; staff (Brett, S5) confirmed the council‑approved predevelopment agreement (PDSA) calls for a 3% fee of…
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