(TDA) Development officials object to draft contract with builder (Tribune II)

[DowntownNow]

I had attached the TW's article from yesterday in another section but since that dealt more with the Council's questioning of the original deal with American Residential and this is something that relates to process and development, thought better to move here with today's TW article.

As reported in the Tulsa World today:
http://www.tulsaworld.com/news/article.aspx?subjectid=11&articleid=20090507_11_A14_TulsaD528921

nathanm posted in the previous thread:

I must be blind, for I can't see how raising the question "does this eliminate our equity interest in the other two projects" equates to "this draft contract before us eliminates our equity interest in the other two projects."

If the contract does in fact have that language, I'd say ARG is dealing in bad faith.

According to the TW article:

Pegues said he wanted to know why the authority's equity partnership in the lofts and apartments would be lost in the new deal.

"How did we give up our equity position in these projects without there being some" written documentation, he asked.