1921 at DIXIE AVENUE

Redevelopment Project
Status Report
 Table of Contents

Lender – CastleGreen Finance 3

Ownership – Skyline Investment Group Easton LLC 3

Architect – CHASM Architecture 3

General Contractor 3

Management Company - Greystar 3

Legal Counsel – Morgan, Lewis & Bockius LLP 3

Legal Counsel – Eckert Seamans 4

Government Authority – Wilson Borough 4

Environmental Engineer – Terraphase 4

Environmental Remediation Compliance - EARTHRES 4

Asbestos and Lead-based Paint Remediation – Sargent Enterprises 5

Structural Engineer – Thornton Tomasetti 5

Geotechnical Engineering Services – Langan Engineering and Environmental 5

Services, Inc.
Historic Preservation Consultant – Heritage Consulting 5

Energy Technology Consultant – Station A 5

TIF Projections – D.A. Davidson 5

Identified Grant/Subsidies – Areaprobe 5

RACP Consultants – Econ Partners 6

Traffic Study Consultants – Traffic Planning and Design Inc. 6

Tax Increment Financing Market Study/Feasibility Report – Dietrick Group LLC 6

Government Relations 6

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Lender – CastleGreen Finance
• Received terms from CastleGreen Finance for C-PACE financing – 1/11/2024.

Ownership – Skyline Investment Group Easton LLC

• After 3-months of negotiations, fully executed a Purchase and Sale Agreement (PSA) with
seller.
• Spent approximately $3.5 million to date.
• Increased the equity in the project by $20 million by negotiating and receiving approval
for Tax Increment Financing (in lieu of a LERTA), from the County of Northampton.
• Hired and managed all consultants highlighted in the Offering Memorandum.
• Coordinated and facilitated all political and public meetings with the County of
Northampton and Wilson Borough.

Architect – CHASM Architecture

• SD and Program management for Unit Count and Amenity areas.
• GMP set of documents (352 pages including consultants) & Specifications.
• Two pricing rounds with CMAR, including bid leveling and VE exercises.
• School board presentation for community introduction and buy-in.
• Mayor Presentation for variance and zoning introduction.
• Borough Council presentation for sign off to submit for zoning approval.
• Historical tax credit coordination and application items.
• Creation of 10 high quality renderings accurate to the budget.
• Traffic Study management to fulfill zoning requirements.
• RACP Narrative submission.
• Abatement Scope refinement and coordination with remediation and General Contractor.

General Contractor
• IGMP delivered 1/26/2024.

Management Company - Greystar

• Fully paid.
• Greystar to provide ongoing property management services.

Legal Counsel – Morgan, Lewis & Bockius LLP

• One of the best law firms in the country acting as general counsel for over a year with
separate attorneys providing counsel for:

• Environmental,
• Litigation,
• Business,
• Trademark, and
• Real Estate Closing.

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• Counsel activity highlights:
• Structured the Purchase and Sale Agreement.
• Structured the Operating Agreement.
• Cleared property title.
• Cleared liability for name rights.
• Assisted with environmental remediation legal work.

Legal Counsel – Eckert Seamans

• Local counsel for zoning and permits.

• Drafted the Tax Increment Financing (TIF) agreement in collaboration with the County of
Northampton.

Government Authority – Wilson Borough

• Escrow account set up.

• Site Plan submitted for review.

• Includes all variances.

• Verbal approval for variances received.

• Wilson Area School District: Presented plans on 8/14/2023.

Environmental Engineer – Terraphase

• Managed the remediation process from inception to the present and ensured that both
EARTHRES and Capitol Environmental adhered to the guidelines set forth by the
Environmental Protection Agency (EPA) and the Department of Environmental Protection
(DEP).

• Will prepare a risk-based assessment on the property that will deliver the property with
no limitations or restrictions (caps). The assessment will confirm that the site is devoid of
contaminants and environmentally safe with no requirement to provide notice to future
tenants of past environmental issues.

Environmental Remediation Compliance - EARTHRES

• Supervised the removal of eleven 5,000-gallon wax and oil tanks.

• Supervised the sampling of PCBs and provided oversight services for the offsite removal
of all hazardous materials.

• Will furnish all results, data, and clearances in compliance with Act 2 cleanup plan and
standards set by the EPA.

• Draft DEP approval report: Completed 2/12/2024

• DEP submission of full report: 2/23/2024

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Asbestos and Lead-based Paint Remediation – Sargent Enterprises
• Engaged.

• Asbestos and Lead-based paint removal and demolition begins: 2/13/2024.

Structural Engineer – Thornton Tomasetti

• Engaged.

• Structural Conditions Assessment to include building assessment, foundation evaluation,

column and slab evaluation, and concrete testing.

Geotechnical Engineering Services – Langan Engineering and Environmental Services, Inc.

• Engaged.

• Geotechnical Engineering services for testing soil, rock, and groundwater conditions of
the property.

Historic Preservation Consultant – Heritage Consulting

• Submitted registration form for Part 1 & Part 2 to the National Park Service (NPS)/
National Register of Historic Places.

• Part 1 submitted: 1/25/2024

• Part 2 submitted: 2/20/2024

Energy Technology Consultant – Station A

• Provided estimated costs and savings for installation of rooftop solar panels.

• Supplied detailed dimensions for architectural sizing.

TIF Projections – D.A. Davidson

• TIF underwriter; Highly regarded national municipal bond firm.

• Approximately $22 million TIF (stand-alone bond) financing resulting in an increase in

property tax revenue for the County of Northampton.

Identified Grant/Subsidies – Areaprobe

• Identification of over $40 million of equity including historic tax credits ($20 million).

• Ownership retains 75% of historic tax credit funds and pays 2% preferred return on these
funds for five years to the historic tax credit investor.

• Supervised $10 million RACP “grant” application process.

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RACP Consultants – Econ Partners
• Engaged.

• Recommended by the County of Northampton.

• The principal of Econ Partners was formerly in charge of the grant process and worked
closely with the previous Governor.

• $10 million RACP “grant” submission date: 1/12/2024.

Traffic Study Consultants – Traffic Planning and Design Inc.

• Engaged to conduct traffic impact study of the project and to prepare a Traffic Impact
Study (TIS) with submission to the County of Northampton.

• Favorable TIS submitted: 11/27/2023.

Tax Increment Financing Market Study/Feasibility Report – Dietrick Group LLC

• Engaged.

• Preparation of study including site visit, market demand analysis and absorption
schedule.

• Report submitted: 12/18/2023.

Government Relations Consultant - Saxton & Stump

• Engaged: 2/13/2024

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 Consultant & Legal Team Roster
The Ownership Team has Employed and Compensated all Consultants.

AreaProbe Advisory LLC Tax Credit and Subsidy Consultant

Capitol Environmental Services, Inc. Remediation Consultant
Castle Green Finance C-PACE Lender
CHASM Architecture Architect
CohnReznick LLP CPA
D. A. Davidson Fixed Income Capital
TIF Projections Consultant
Markets
Dietrick Group LLC TIF Market/Feasibility Consultant
EARTHRES Remediation Consultant
Eckert Seamans Cherin & Miliott, LLC TIF Ordinance Legal Team
Econ Partners, Inc. RACP Grant Consultants
Greystar Property Management
Heritage Consulting Historic Registry Consultant
Langan Engineering and Environmental
Geotechnical Engineering Services
Services, Inc.
Lehigh Engineering Site Survey Consultant
Lunas Pro 3d Project Renderings
Morgan, Lewis & Bockius LLP Legal Team
QSF Management Environmental Consultant
Sargent Enterprises, Inc. Environmental Abatement & Demolition
Saxton & Stump Government Relations Consultant
Station A Energy Technology Consultant (Solar)
Terraphase Engineering Remediation Consultant
Thornton Tomasetti Structural Engineers
Traffic Planning and Design, Inc. Traffic Studies
Skyline Investment Group Easton, LLC
Trident Abastract Title
Escrow

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 Brian Bartee
Managing Partner
Skyline Investment Group
Debt and Capital Markets
(551) 804-9733

Brian@SkylineInvestmentGroup.com
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