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0 <br />TOWN OF MASHPEE <br />Board of Appeals <br />Minutes <br />June 27, 1990 <br />The Mashpee Board of Appeals held a meeting on Wednesday, <br />June 27, 1990 at 7:45 P.M. at the Mashpee Town Hall. Board <br />members present and acting throughout were: Cheryl A. Hawver, <br />Michael A. Makunas, Edward M. Govoni and John J. Friel. Board <br />member William J. Hanrahan was present for the discussion on the <br />Bonwood Special Permit and the Wasil Special Permit. Building <br />Inspector Douglas S. Boyd was in attendance. <br />Minutes: Mr. Friel moved to accept the minutes of the <br />meetings of April 25, 1990 and May 23, 1990. Mr. Makunas <br />seconded. All agreed. <br />Bonwood Co.: Attorney Michael Dunning and Ronald S. Bonvie <br />represented the Reliance Development Co. Mr•. Dunning informed the <br />Board that the bank which had originally committed to the <br />• financing of the Southport project was taken over• by the <br />Resolution Trust Corporation. This had the effect of slowing down <br />the project. The loan has been restructured through Resolution <br />Trust Corporation and the City Savings Bank of Somerset, New <br />Jersey. <br />Mr. Dunning reviewed the conditions of the Special Permit <br />Modification filed November 22, 1989 which allowed for• extensions <br />in the completion time of the amenity center•, swimming pools and <br />tennis courts. He requested the Board to extend these completion <br />dates for six months due to the delays caused by the need to <br />reorganize the funding. He presented a letter from Mr.Bonvie, <br />which outlined the proposed completion dates for the sewer <br />treatment plant, amenity; center, outdoor swimming pool, tennis <br />courts, golf course and water• system. Board'members Cheryl A. <br />Hawver and Michael A. Makunas had requested this information after• <br />a site inspection on June 25, 1990. A copy of the schedule is <br />attached. Mr•. Bonvie explained the proposed construction plans <br />and stated that their major effort has been the completion of the <br />living units to allow for owner occupancies. <br />Mr. Friel asked how strong was the commitment from Resolution <br />Trust and Mr•. Bonvie replied that the original bank, City Savings <br />Bank, has the funds for• Southport but is now being overseen by <br />Resolution Trust Corporation. The money does not have to come from <br />the Federal Reserve. He explained that the reason they ar•e <br />funding ar•e the number of pre -sales which have not been conveyed. <br />He said that Resolution has now approved the future funding and <br />established an improved inspection schedule. <br />• <br />