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a <br />CALLED QUEST, INC. HE CONTINUED THAT HOUSING ASSISTANCE HAS NO <br />FINANCIAL HISTORY, BUT CONDO PROPERTIES MANAGE OVER 4,700 UNITS AND <br />NATIONAL HOUSING PARTNERSHIPS OF VIASHINGTON, D.C., MANAGE OVER 45,000 <br />UNITS SO THEY OBVIOUSLY HAVE A CERTAIN EXPERTISE. HE NOTED THAT THEY <br />HAD TO SUBMIT AN OPERATING BUDGET TO FHA IN ORDER TO RECEIVE A <br />COMMITMENT FROM THEM. <br />COMMISSIONER SIEBERT FELT WE MUST BE -ASSURED THAT THE <br />APPLICANT IS SOLVENT AND ABLE TO CARRY OUT THIS VENTURE. <br />COMMISSIONER Loy STATED SHE REALIZED THEY WISHED TO GET <br />SOMETHING MOVING, BUT NOTED ONCE THEY OBTAIN THE PROPER FINANCIAL <br />INFORMATION FOR THE BOARD TO REVIEW, IT DOESN'T TAKE MUCH TIME TO <br />READVERTISE. <br />CHAIRMAN WODTKE AGREED THAT FROM LEGAL ASPECTS, IT SHOULD <br />BE READVERTISED. <br />COMMISSIONER DEESON FELT WE NEED FINANCIAL STATEMENTS ON <br />THE PEOPLE WHO MAKE UP THE CORPORATION, AND STATED THAT HE PERSONALLY <br />WOULD NEVER VOTE FOR THE FRANCHISE UNLESS WE CAN HAVE SOME INFORMATION <br />ON THE FINANCIAL BACKGROUND OF THE PERSONS INVOLVED IN THE PARTNERSHIP. <br />ATTORNEY COLLINS NOTED THAT THE LIABILITY ON THE LIMITED <br />PARTNERSHIP WILL REST ON THE GENERAL PARTNER AND HE FELT INFORMATION <br />ON THE GENERAL PARTNER SHOULD BE SATISFACTORY. HE ASKED IF HOUSING <br />ASSISTANCE OF VERO BEACH HAS CLOSED ON THE PROPERTY BECAUSE IF A <br />FRANCHISE IS ISSUED IT IS GOING TO ATTACH TO THE LAND. <br />MR. GARDNER STATED THAT THEY DO NOT OWN THE LAND YET, BUT <br />HAVE THE LAND OWNER S VERBAL CONSENT. <br />ON MOTION BY COMMISSIONER Loy, SECONDED BY COMMISSIONER <br />DEESON, THE BOARD UNANIMOUSLY CLOSED THE PUBLIC HEARING, <br />51 <br />APR 51978 am 3 4 PAGE '21 <br />.p <br />