Diabes Enterprises

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July14,2009 Committee Development TheEconomic Townshipof Maplewood c/o Elizabeth Fritzen,TownshipClerk Municipal Building Maplewood 574ValleyStreet Maplewood,N.J.07040 of 125DunnellRoad Letterof Interestfor Redevelopment Re: Response: DearMs.Fritzen: of 125DunnellRoadin with the Request for Lettersof Interestfor the Redevelopment In accordance information theretoandenclose thefollowing we herebydeliverandsubmitourresponse Maplewood, assetforth in the requirements: anddocumentation . . . . . r . . o

thoseitemsasrequested I haveattachedandsubmita full copyofour websitewhichcontains isE!fuia!!9!.!g!l in items1. and2. and4. of the 'Required Content.My emailaddress Financial Abilitv Description andpreliminary conceptual Description of our financialcapacity Proposed TimeLinefor the Development Afforda bleHousing discussion LEED Certification discussion Property TaxAbatementdiscussion Demolition andAsbestos Abatement

for in response to the Request We thankthe Township for the opportunityto providethisinformation In Lettersof Interestandlookforwardto hopefullybeingconsidered in the nextphaseof this procedure. the interim,if anyadditionalinformationor documentation is required,pleasefeelfree to contactme at vourconvenience.

BerekDon

NJ 07020/ www.daibas.com Tel201.84o.OO5O / Fax201.313.9044 / l oOOPortsideDrive/ Edgewater,

FINANCIALABILITY

DaibesEnterprises, LLCownsandoperates the variousentitiesaslistedin the corporate description whichis includedherein.In additionto owningitssub-contractors in the'construction division'Daibes hasestablished numerous bankingrelationships with the majorbanks(Bankof America, WellsFargo, Wachovia companies who provideconstruction andpermanent , etc.)aswellasthe majorinsurance financing aswellashavingobtainedfinancing fromthe NewJerseyHousing Finance Agencyfor projectsandfromthe Federal residential (HUD). Government Additionally, FredA. Daibes foundedandisthe majorityshareholder in Marine/sBankbasedin Edgewater, NewJerseywithvariousbranches throughoutBergenCountyandwith plannedexpandsion into HudsonandEssex counties. Bankingreferences will besupplieduponrequest.

Attachedheretoaretwo conceptuals for yourconsideration. Oneconceptisfor a buildingcontaining only residentialrentalapartments(32units)on four levelsover a parking.Thisconceptwascreatedso asto complyas bestas possibleto the currentzoningrestrictionsofthe Township. Thesecondconcepthasthe samenumberof residentialunits,howevera smallcommercialcomponent hasbeenadded(6000sF)andthe buildinghasbeenbroughtup to the propertyline.Thisconceptwas developed soasto 'blend'intothe existinguseswithinthe immediate areaandin consideration ofthe continuationandblendingofthe existing'VillageConcept,. Bothconcepts will be designed so asto be architecturally consistent w1h the surrounding area.

REDEVELOPMENT TIMELINE

In the eventwe aredesignated asthe Developer for the projectwe wouldhaveappropriate siteplan preparedfor presentation to the appropriate local,countyandstateagencies asmaybe requiredsoas to obtainthe necessary approvals so asto obtaina buildingpermit.Subsequent to beingso designated andenteringintothe appropriate Developers Agreement required, asmaybe it wouldnormallytake approximately sixto eightweekssoasto havethe requisiteplansprepared for filingwith the Township for its reviewfor completeness, andif so deemedascomplete, havinga hearingdatesetfor the public presentation of the application. We wouldassume that no morethantwo meetings wouldbe necessary soasto enablethe boardto makeits determination. lfapproved,andduringthe appealperiod,we wouldhaveour personnel beginthe process of completing construction drawings aswellasfinalizing anyothercountyor stateregulatory requirements, if anysoasto be in a positionto startconstruction in a timelymanner. Withouthavinganyof the geotechnical information of the site,andassuming no adverse conditions, a projectof this naturewouldnormallytakeno longerthaneighteenmonthsto completefromdateof the initiationof excavation.

TAXABATEMENT

A requestfor negotiation in accordance withthe Statutes of NewJerseywill be madeto address the potentialof obtaininga PILOT Program fromthe Township. Theissues asto be determined wouldtake into accounttheapproved scopeofthe project,that beingeitheracompleteresidential reqtalproject or the mixedcommercial/residential rentalconceptasbeingcontemplated andprovidedfor consideration.

ACM REMEDIATION AND DEMOTITION

Aswe arefullyawareof andhaveextensive experience with the mitigation of asbestos containing materials andthe demolitionof structures containing such,we wouldpreferto takeon the responsibility of the abatement anddemolitionassuchwouldenablenot only a moretimelyprocess of but we wouldnot haveto relyuponthe Township construction for anyitemsasour insurers would requireaswellashavingsinglesourceresponsibility for our bondingandrelatedmattersasmaybe necessary for construction.

PROPOSED RESIDENTIALDEVELOPMENT MA P LE WOOD

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NEW

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RAILROAD

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Architectura archhectura Inc,, 935 Flwr Road, suita I oo, Edgewater,Ne

JeEey Tet, 201.a86,.t400 Fd 20 i .aa6.1459

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PROPOSEDRESIDENTIALDEVELOPMENT M A P L E WO O D

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] BEDFOOM IJNIT 2 BEOFOOM UNIT AVE. AREA - 1,202 SF.

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TOTAL UNITS --

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43.2 SPACES 16 SPACeS 59.2SPACFS

TOTALBESIOEMIIALPAFKINGFrcU]FEO -

60 SPACES

TOIAL PAFKINGPFO\4OEO__.

53SPACES

ryPICAL RESIDENTIALFLOOR PLAN

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Gnoss ANEA- s,437SF.

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SCHEMATIC SECTION- 1

Architectura Architecturalnc., 935 njver Road, Suite 1Oo,Edgewater,New Jersey Tet.2o1.aA6.14OOFax 201.9a6.14s9

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