This is some background information for tonight's dicsussion of "sale of A2":

The directors discussed what to do with A2 and were divided as to the best way forward.

We have 4 options to decide between regarding the sale of A2. 

1. Sell it to the DCC and avoid all this trouble. (Alex's preference)

2. If we want to sell it ourselves, put out a public tender/deadline sale as suggested by Anthony Hamel, and have a group decision/vote on who to sell it to.  Has the advantage of establishing the true market price.  Has the disadvantage of not sticking to the waiting list promise.

3. If we want to keep the waiting list promise, then Alex would say we need to sell it to the brothers who put their money in and kept it in, Anne and Catherine would disagree.

4. Sell it to the Denleys on the rationale that they first put their money in before the person(s) in 3.  Alex says, "I think this is just us deciding who to sell to rather than faithfully following the procedure.  In which case I think we're better to dispense with the waiting list entirely and go with 2, which would still let us decide on the Denleys if we felt that was the right option."

Further information: The market valuation done by Shane from Paterson Valuation came in at $625,000 - which is well under cost. (Cost for A2 is at least $654,000 +cost of appliances + cost of painting + cost of wall unit - DCC was going to pay $675,000 excluding GST, so in effect more like $776,000) Two market appraisals from different real estate agents came in $700-800K. The valuation made no mention of Passivhaus esign, nor district hot water scheme.

I also attach the current waiting list.

Thanks,

Anne