Construction Updates

May

Contracts have been signed with.....
+ People' s Community Bank - securing the construction Loan.

+ Houghton Engineering to complete civil engineering calculations and layout for phase 1 of the project.

+Fawley Bryant Architects for redesign, structural, engineering and asst. w/construction management of Phase 1.

SR 70 property has been sold for $165K with the help of Lance Bieker. We will actually provide owner financing to the buyer with an 8 % interest only loan for 12-15 month - which means St. Mark will receive approx. 15K up front (less title and transfer fees, then $1,000/mo for the time of the loan, and the remaining $150K after 12-15 months, The monthly interest payments will help to offset our monthly construction loan interest-only payments during the building process.