On Sun, Nov 12, 2017 at 12:01 PM, Ann Rainey <arainey@cityofevanston.

org> wrote:
Of course I know who you are! You are really late to this fiasco. FYI, I am voting no tomorrow night.

On Sat, Nov 11, 2017 at 12:57 PM, Jeff Coney <jeffconey7@gmail.com> wrote:

---------- Forwarded message ----------

From: <jeffconey7@gmail.com>
Date: Sat, Nov 11, 2017 at 12:51 PM
Subject: Fwd: Evanston Lighthouse Dunes Project
To: arainey@cityofevanston.org

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Ann Rainey | 847-989-0229

 Evanston Lighthouse Dunes Project– MOU Analysis and Concerns

There is significant financial risk and exposure to Evanston should the Lakehouse Gardens project move forward. While
the ELHG project is well intentioned, the long-term financial viability is highly questionable. The MOU must contain
necessary safeguards and controls so risk to the city is completely mitigated. Such risks include but are not limited to the
following:

Fundraising Concerns Risk

Unspecified time window for raising hard cash Liability and risk remains with city in interim

Required proof of cash-in-hand to start construction Potential for on-going construction zone in public park
(Industry standard is 70% of vetted total project cost) Money invested fails to result in finished product

Lack of clear claw-back provision Fundraising shortfall yields a structure in limbo

Any money raised could legally stall future naturalization effort
Unclear wording prevents city from retaining said funds

Construction Cost Concerns

Construction cost are unrealistically low Current estimated cost of $149/sq. ft. is far below comparable
renovations range (which range from $500/sq.ft. to $1000/sq. ft.)
IDNR bid for main-house only was $270/ sq. ft.
Using direct comps yields a total spend that exceeds $10M

Insurance/Indemnification Concerns

Lack of required insurance Claims arising out of construction and ongoing operations
represent potential for significant self-insured losses to the city
Failure to obtain builders risk, environmental liability,
construction liability and general liability with liquor liability
unnecessarily exposes city funds to new loss exposures

Operating Cost Concerns

Two year operating spend not currently included in Revenue raised from operations falls short of projection
capital raise

Reliance on $220K in ongoing annual donor contribution Perpetual competition with Evanston-based charitable giving
for operation City could be called upon to fund any operating shortfalls

Programmatic Concerns

Duplication of Evanston Ecology Center Cannibalizes current environmental education demand

Siphons current city programming revenue

We believe that our Evanston Lighthouse Dunes Proposal is a more responsible alternative for our community – both
financially and ecologically. Our proposal can be done for $200,000 and provides green space for future generations of
Evanstonians to enjoy. We are prepared to provide the City of Evanston a successful Plan B.

LIGHTHOUSEDUNES.COM