Other – SC – 081111 – Executive Session Minutes

These are actually minutes for the Working Group of the Feoffees.  The most fascinating thing about this is that for all the talk about how “impossible” it was the come to terms with the tenants, the differences reported in these minutes are just not that great.  And when you add the fact that the tenants were willing to pay for the wastewater system (they are paying for none of it in the current settlement) the rents are not that far from market.  Even without taking into consideration the significant advantages of retaining the seasonality of Little Neck, the rental arrangement described here would be superior financially to the current settlement and would have stopped all litigation at that point.