From:
Farkas, Andrew L.
Sent:
Friday, April 22, 2016 10:04 PM
To:
jeffrey E.
Subject:
Re:
Sold to the jew on 70th street.
Sent from my BlackBerry 10 smartphone.
ill take the 200k
On Fri, Apr 22, 2016 at 5:52 PM, Farkas, Andrew =
For your reading pleasure
Sent from my BlackBerry 10 smart hone.
•
.
Andrew —
wrote:
AYH does have $3MM in cash. We have discusse= in the past with Jeffrey that the docks need some work and
we rehabilitat=d p-dock quite nicely using mostly Paeiwonsky and Hoffman's money. That was our test case as we have
explained to hi= guys in the past. We are in the process of costing a similar rehabi=itation to our AYH docks and some
other upgrades — and additionally the =vailability of a federal infrastructure grant to supplement some of our money.
This will be completed in around 6-= weeks. ATM is completing some engineering work and we want to get s=meone
underwater to look at some of the structural pilings. We would=also like to see if we are getting higher rates on the new
P-dock to see the extent of the ROI associated with the spend.&=bsp; There are some other upgrades/refurbishments
on the land as well that=are being costed. We also needed to close our loan extension to make=sure this money was
available. That just closed last week.
The nuance here is that AYH's EDC benefits expir= at year end. I spoke to Darren Indyke yesterday about this
and that=we now feel we have a viable path for getting around the IGY shareholder disclosures based on advice from a
different law firm.=nbsp; I would have to step in as the disclosing party based on my role as =he primary manager of the
business. Jeffrey would still be required =o make detailed financial disclosures and background disclosures (this is what I
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raised with Darren to determine if,=in particular, he was ok providing his tax returns to the EDA). Part=of a renewal
application will have to include a 5-10 year capital plan tha= goes beyond life safety and refurbishment. This plan is
aligned with what we are costing above. Once we underst=nd the total cost to revitalize the docks, the ROI involved —
we can loo= at the scope and cost, our cash balances, grant availability and our anti=ipated cash flows (based on the
new financing) to see what to financial commitments are appropriate for the EDC applicati=n (and over what time
period). This will result in the appropriate s=bmission to the EDC and will lead us to the appropriate distribution. =
IGY wants the money too — we are close. I =m sorry this is taking a while. BPPR took a year —
If you want, we can push out a few hundred thousan= without compromising the plan above ($200K each) — I
would feel ok
t=at.
Toni
•
Thomas
What is the story with the=attached?
Sent from my&nbs=;BlackBerry 10 smartphone.
Subject:
Im told that AYH has 3million of cash. &n=sp; im happy to take some
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please note
The information contained in this communication is confidential, may be attorney-client privileged, may constitute
inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use,
disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have
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requires a fully executed agreement to be received by Island Capital=Group LLC or such affiliate.
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