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Hey Rick

Think about this for a minute.
The city pays $3,5M into a fund over 20 years that Mandalay controls for all intent and purposes.
We give them $2.9M upfront for furniture

If cost over runs happen, WE put out $500,000 and Mandalay pays us back their half in $25,000 increments over 10 years.
And we pay for any hurricane damages separate from regular maintenance, and separate from capital maintenance.

So if there's cost over runs this year AND we get hit by a hurricane during or right after its completed we could be out an awful lot of money......



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