Laserfiche WebLink
Community Redevelopment Agency <br />May 24, 2012 <br />Page 4 of 8 <br />financing with approximately 10 different financial institutions. He said they have found that banks want at least 80% <br />occupancy with long term leases. He said that they do not have historical expense records due to recently acquiring <br />the property, <br />Mr. Wolle said he did not want to do anything that would jeopardize the extension of the CRA ferm. He said <br />that he would discuss with his partners regarding a balloon payment option due prior to the expiration of the CRA <br />term which would give them time to obtain historical financial data required for refinancing the property. <br />Mr. Wolle said that this site is perfect for Multi-Cultural Media Solutions due to the large space that does not <br />require a lot of parking, <br />Mr. Kyle Dudgeon, Planner, provided a PowerPoint presentation regarding Multi-Cultural Media Solutions (a <br />copy is attached and made a part of the minutes). A brief discussion ensued regarding Multi-Cultural Media <br />Solutions expanding into the third unit and the parking requirements for the site. <br />Mr. Mike Nieves, CEO of Multi-Cultural Media Solutions, came forward. Mr. Nieves explained that <br />approximately 50% of the employees would be offsite positions. Mr, Nieves didn't perceive that parking would be an <br />issue. He said that currently the business employs 8 onsite employees and the other employees are in South <br />America. In response to the Board's question, Mr. Nieves estimated the business would employ 12 -14 employees in <br />the first year of the business, Mr. Nieves reviewed the work that he did while employed at Brighthouse. <br />Mr. Nieves said the property offers some intangibles such as the power factor and being located near the <br />Police Department. In response to the Board's question regarding relocating the business to Casselberry, Mr. Nieves <br />said that Casselberry provides a more centralized location from his businesses clientele. <br />A discussion ensued regarding the Hispanic population in Florida, The Board requested that Mr. Nieves <br />provide a synopsis of his employment background and information regarding the operation of his media business, <br />Mr. Nieves stated that he has been in the media industry for 25 years. He said he started with Clear Channel <br />Communications and was a general sales manager for two radio stations, Mr. Nieves said that he worked for <br />Brighthouse for 11 years as an outside account executive, He said his media business is; how can I grow your <br />business -what challenges are you having as a business owner, what areas of your business are not working and <br />how can we help you to develop that. He said marketing encompasses all aspects and it expands into production, <br />