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Post by Arch on Dec 7, 2007 20:57:31 GMT -6
This is like when a company offers early retirement packages.
Take the first offer. It starts to suck from that point forward if you don't.
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Post by gumby on Dec 7, 2007 22:18:55 GMT -6
Much as I hate to say it, that crappy little Naperville law firm did a good job on the motion.
Who is our law firm again?
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Post by doctorwho on Dec 8, 2007 0:24:08 GMT -6
Much as I hate to say it, that crappy little Naperville law firm did a good job on the motion. Who is our law firm again? Dewey, Cheatem & Howe sorry - couldn't resist..... tip o' the hat to the venerable 3 Stooges |
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Post by wvhsparent on Dec 8, 2007 8:14:54 GMT -6
I believe BB has yet to win one of their motions. Just curious, how many motions has the district won? Does it really matter how many they won? They won the important one at the end...the Jury verdict. |
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Post by d204mom on Dec 18, 2007 19:23:29 GMT -6
I just got around to reading the motion to dismiss.
What I didn't know is that the Brach and Brodie parties were given the ability to withdraw $16,500,000 of our money from escrow in June. (Exhibit A Item B)
Does anyone know if they have taken this money and how we will get it back?
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Post by d204mom on Dec 18, 2007 19:31:09 GMT -6
Also didn't know that we put $33 Mil in escrow in June to prove that we could and would pay that much for the land.
That agreement was dated in June and the verdict came out in September - about 3 months. And the verdict was less that the district said they were willing and able to pay in June.
I know that costs have risen in those 3 months, but the way they are talking costs have skyrocketed so much since then that we can't build a pool or a stadium or anything. That just doesn't make sense to me.
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Post by d204mom on Dec 18, 2007 19:50:52 GMT -6
I just got around to reading the motion to dismiss. What I didn't know is that the Brach and Brodie parties were given the ability to withdraw $16,500,000 of our money from escrow in June. (Exhibit A Item B) Does anyone know if they have taken this money and how we will get it back? If you page down further to what was ordered in that June agreement, Chicago Title on behalf of the Brach party and the Brodie trust were authorized to withdraw 8,250,000 each. |
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Post by d204mom on Dec 18, 2007 22:07:43 GMT -6
Much as I hate to say it, that crappy little Naperville law firm did a good job on the motion. Who is our law firm again? District uses Whitt Law, with their world headquarters located in Aurora. www.whittlaw.com/Brach uses an attorney from Drinker Biddle Gardner Carton. Brodie attorney Helm focuses solely on eminent domain, which is why I'm guessing the case law is well researched? |
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Post by bob on Dec 19, 2007 9:09:50 GMT -6
I think all of that had to do with QT. Since QT failed, none of that happened.
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Post by d204mom on Dec 19, 2007 12:20:11 GMT -6
After reading the motion, it would be interesting to see a construction cost breakdown from June, when our school board put forth the 33 Million promise to the Brach Brodie people. It would be nice to compare the construction cost breakdown to now, so we can see which costs have escalated so much as to make the Brach Brodie land at 32 Million impossible.
Of course I doubt we will ever be privy to that information. Unless the board was bluffing then. Or now. Or both.
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Post by d204mom on Dec 19, 2007 12:24:07 GMT -6
Addition - I guess that June document was a promise to the Brach Brodie people AND all of the Illinois State Reps and Senators AND Judge K that we could and would pay 33 Mil when the jury trial was over in September.
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Post by bob on Dec 19, 2007 12:41:47 GMT -6
After reading the motion, it would be interesting to see a construction cost breakdown from June, when our school board put forth the 33 Million promise to the Brach Brodie people. It would be nice to compare the construction cost breakdown to now, so we can see which costs have escalated so much as to make the Brach Brodie land at 32 Million impossible. Of course I doubt we will ever be privy to that information. Unless the board was bluffing then. Or now. Or both. Someone posted the Construction Inflation index before. |
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Post by bob on Dec 19, 2007 12:44:35 GMT -6
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Post by d204mom on Dec 19, 2007 12:52:26 GMT -6
Yes, so in June we had $124.6 M to work with, plus let's give them the benefit of the doubt and add the 17 M they claim to have in leftover funds and favorable bond rates.
We were willing to pay $33 M for BB.
124.6 + 17 - 33 - site development? = 108.6 (or less, say 105 with site development) for the school in June.
Contruction increases around 10% for the year so over the summer from June to September was say 10/4 = 2.5% to be fair.
105*1.025 = 107.625
So a pool, a stadium, a gym and 500 seats of capacity can all be bought for $2.6 Mil. I find that hard to believe, but say I do believe that number.
All Day K will cost 5-6M in it's first year. I just don't see the sense in walking away from Brach-Brodie for 2.6 M in savings. Aren't the attorney fees more than that?
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Post by d204mom on Dec 19, 2007 12:55:30 GMT -6
But I guess now you have to add another 6 months of delay because we didn't break ground asap this Fall when the jury made a decision and will have to wait until Spring. Based on the above calc we have thrown away another 2.6 M by delaying the construction decision, regardless of site, another 3 months past the jury decision.
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