Quote:
Originally Posted by kornbread
|
Wonder if this will delay the process. According to the article, the process could now be "open ended" if Primera's bid is accepted and goes on to the next steps. Especially if both are proposals are accepted and go forward in the approval process.
The article also states that this is the first instance of the P3 process being used, so it will be interesting to see how that works too.
If it does receive committee approval, the next step will include financial analysis, a building appraisal and other due diligence that could take up to 30 days.
“That’s going to take some time to do our due diligence,” Racca-Sittre said. “If the committee rejects the proposal outright, there’s not a lot to do, but if the committee wants to do financial analysis and wants a building appraisal, it’s open ended. The committee could decide to accept both proposals, just one proposal, or neither proposal.”