Meeting Minutes - US Department of State

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sites. Our goal for some time now has been to only
buy sites that are ready to build. Unfortunately,
that is virtually impossible in a lot of these
markets. So we try to identify sites and buy sites
that are as close to ready to build as you can get.
And then we specifically address those ready to
build issues with the seller, whenever we can, and
attempt to negotiate as part of the real estate
transaction, the seller developing, not developing,
but providing the site in a ready to build
condition.
So these Valletta images, this is just an
example of one case where instead of just an example
of one case where instead of just buying the site
from the seller and then having to demo all the
buildings that were on the property, deal with
unexploded ordinance, and environmental issues, we
built all of that remediation into the real estate
transaction. And so, the seller actually delivered
that site, in this case in Valletta, ready to build,
dealing with all of those issues, taking a lot of
the risk off of our side of the table and off the
design-build contractor's table as well.
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So, some of the major issues and challenges
that we still have that I haven't found a cure for
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