Thursday, June 7, 2012

Medley - Amended PILOT & $90 Million Milestone Investment

The two following documents were sent to me by Ginny, who was a very vocal critic of the Medley PILOT deal from the very beginning.

The first document is the amended PILOT. You can view the "original" PILOT deal with Congel at this link.

No public meetings were announced by any of the three entities for the public to attend to view or comment on the changes.

COMIDA's public meetings are open to the public, but I have reviewed meeting minutes and do not see any discussion on these changes to the PILOT - I believe this was done during executive sessions, where the public isn't allowed.

You can see that the "milestone dates" have been changed - originally the first milestone was 24 months after the entitlement date (which was April 7th, 2009) - so the first milestone was April 7th, 2011 - it has now changed to December 31st 2013.