FREQUENTLY ASKED QUESTIONS

1.   What is a Business/Flex Condominium?
2.   Why buy a Business/Flex Condominium?
3.   How does a Business/Flex Condominium work?
4.   Can I combine two or more units to create a larger Space?
5.   Are there restrictions on the use of my unit?
6.   Can I design my space to suit my particular business?
7.   How do I purchase a new Business/Flex Condominium?
8.   Will financing be available?
9.   Will I have separate utility services for my unit?
10. Can I lease my unit to a third party?
11. What is the estimated completion of construction?

ANSWERS TO FAQ

1.   What is a Business/Flex Condominium?
A business/flex or "Tech/Flex" condominium offers the small business owner who needs both office and warehouse space a chance to own his or her own Class A facility in the best possible location.

2.   Why buy a Business/Flex Condominium?

Stop Rent Increases. The interest rates are so low now and loan terms are so flexible that a business owner can fix their own overhead for 20 to 25 years.
A business owner can also gain an incredible tax advantage by deducting interest cost as well as depreciation.
You build equity as you own the building space.

3.   How does a Business/Flex Condominium work?
The concept and process is very simple. Each new owner receives a deed to the portion of the building they own. All the land, parking spaces and drive isles are owned by the Owner’s Association. Each owner pays a monthly fee that covers the costs for common area, water, insurance, taxes, trash pick-up and landscape maintenance. Early estimates are based on approximately $.08 per square foot per month.

4.   Can I combine two or more units to create a larger space?
Yes, you will be able to combine units, in most cases, subject to building plans.

5.   Are there restrictions on the use of my unit?
Yes, there will be some restrictions. They will be spelled out in the Condominium Documents and the City Zoning restrictions. Any restrictions would typically be common sense items regarding hazardous waste, illegal activities, noise levels, pollution, etc.

6.   Can I design my space to suit my particular business?
Yes. You have the flexibility to design your unit to meet your business needs. You may use your own contractor for your build-out or we will be happy to assist you with this process. In any case the cost of your improvements can be added to your purchase price and financed through your loan.

7.   How do I purchase a new Business/Flex Condominium?
Once you have decided to purchase a Business/Flex space, you will sign a reservation agreement that provides for a $1,000.00 deposit that is held in escrow by the title company and is fully refundable should you choose not to enter into a formal purchase agreement.

8.   Will financing be available?
Yes. We are presently working with lenders that will provide financing for 75-90% of the purchase price, depending on your situation.

9.   Will I have separate utility services for my unit?
Yes. Each unit will have it’s own electrical and gas service.

10.   Can I lease my unit to a third party?
Yes. As long as the tenant abides by the rules and regulations stated in the Condominium Documents.

11.   What is the estimated completion of construction?
Estimating completion dates is always tricky because of weather, city requirements, material shortages and sub-contractor delays. We are planning on the fourth quarter of 2008 as our completion for the first phase of building.

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