[sudo-discuss] Re: Omni Commons' Imminent Foreclosure

Jenny, We found a potential private buyer, sympathetic, Jonah Hendrickson, He needs more financial information about the building operations to consider making an offer to buy the building outright. He is Willing to keep existing tenants after sale. He was noticed we are up to code for fire, etc. He has seen the building informally. He has set up several artist live work spaces in the east bay and is sympathetic to artists and similar visionaries. He is a private developer remaking old spaces for artists-that is what he does. Time is passing everyday. Can we get this guy any documentation to support his thinking? "pro forma" financials? Theresa On Saturday, August 3, 2024 at 04:51:16 AM PDT, Jenny Ryan via sudo-discuss &lt;sudo-discuss(a)sudoroom.org&gt; wrote: Hm, building is 22K sqft, not 11K Originally wrote to Peter directly but I don't think he's responsible for this doc (to whomever can edit) Bit late though, hopefully the Background doc didn't circulate too much, as it posits a significantly different cost-value ratio to say the building is 11K sqft.. Appreciate the positive momentum (tx Peter!) and plan to discuss the situation with potential supporters at dweb camp next week. love and solidarity, Jenny `~`~`~`~`~`~`~`~`~`~`~`~`~`~`~`~`~`~` "Technology is the campfire around which we tell our stories." -Laurie Anderson "Storytelling reveals meaning without committing the error of defining it." -Hannah Arendt "To define is to kill. To suggest is to create." -Stéphane Mallarmé "Anything done for the first time unleashes a demon." --Dave Sim, "Cerebus the Aardvark" ~`~`~`~`~`~`~`~`~`~`~`~`~`~`~`~`~`~` On Fri, Aug 2, 2024 at 10:26 AM Peter Mui via sudo-discuss < sudo-discuss(a)sudoroom.org&gt; wrote: Hi Sudoers: Whether it's by August 5th or August 17th or Sept 6: none of these is a lot of time: The skinny is: Omni Commons needs about $975,000 ASAP. There seem to be multiple efforts towards gathering this amount, here's my simplistic understanding of them: 1) Philip Bell / People in Motion is advancing a plan to transfer the debt to them short-term. 2) CAST is returning to its funding sources to see if they’ll reconsider their previous rejection(s). 3) Omni Commons would be sold outright at a discounted price to a sympathetic buyer. If we are going to save Omni Commons we need everybody’s “A” game at this point, we need to step up and work in concert. How can you help? - If you know of any individuals who are willing to loan (or, ideally donate) Omni Commons any money, even for a short period of time, please reach out to those people and connect them with CAST; it doesn’t have to be for the full $975,000. (This might also help the Philip Bell / People in Motion plan too.) - CAST has a new "Creative Cities Fund" where they will pool smaller amounts into a $250K+ FDIC-insured CD that will be loaned back to Omni. Contact CAST if you or someone you know is willing to participate in that. (See my previous email to this list for more details.) These documents might help: Omni Commons Executive Summary (CAST contact information here): https://docs.google.com/document/d/1mGHIwBaCKzBPJBugBw7qPvxTE-EYG4xgTvh7aUN… Omni Commons Backgrounder: https://docs.google.com/document/d/1y6qU3Us1cf9R9Kvuxvsw5m6Aw5Vy1jwqoTAL-Ig… Sincerely, -Peter -------- Forwarded Message -------- Subject: Re: [sudo-discuss] Re: Zoom Meeting 6PM Tonight with CAST Date: Fri, 2 Aug 2024 01:25:21 -0700 From: Patrik D'haeseleer &lt;patrikd(a)gmail.com&gt; &lt;patrikd(a)gmail.com&gt; To: Bryan Raab &lt;toberaab(a)gmail.com&gt; &lt;toberaab(a)gmail.com&gt; CC: Peter Mui &lt;petermui(a)sonic.net&gt; &lt;petermui(a)sonic.net&gt;et>, sudo-discuss(a)sudoroom.org Quick update: Based on our lawyer, Jesse, foreclosure is actually on August *17* - still a few weeks away. Legally we should be able to repay the loan all the way up to the actual foreclosure auction, and the very earliest that auction can be scheduled would be September 6. So if worse comes to worst and we lose the building, we would still have more than a month before we need to vacate. I guess CAST wasn't working with the correct timeline, so they've told us they will make one final attempt at getting the recoverable grant they were hoping to line up (essentially a 1yr bridge loan at 0% interest). It also gives Philip Bell a bit extra time to line up the loan he's been pursuing. Meanwhile we've had at least two other individuals expressed interest in purchasing the building before foreclosure as well. So yeah, all hope is not lost! But meanwhile I would urge folks at Sudo to make contingency plans in case we do need to move out in a month. Figure out how much space Sudo really needs, how much rent you can afford, and which other organizations you might want to team up with in case you find a building too large for Sudo alone. CCL is already actively looking for candidate spaces - mainly on loopnet, but there should be deals available on CraigsList and through word of mouth as well. Help wanted! Patrik On Thu, Aug 1, 2024 at 6:17 PM Bryan Raab via sudo-discuss < sudo-discuss(a)sudoroom.org&gt; wrote: As someone fairly out of the loop on what’s going on is there something I’ve missed that can catch me up? Like what is the next step of Sudo? Please andThanks, Bryan Raab 7073679223 On Jul 30, 2024, at 3:33 PM, Peter Mui via sudo-discuss < sudo-discuss(a)sudoroom.org&gt; wrote:  Hi Sudoers: Foreclosure is six days away: if you have any questions about transitioning out of the building you’re welcome to attend a Zoom Meeting 6PM Tonight with Shreya from CAST. Please email me back directly for the Zoom link ASAP, certainly before 6PM. Sincerely, -Peter _______________________________________________ sudo-discuss mailing list -- sudo-discuss(a)sudoroom.org To unsubscribe send an email to sudo-discuss-leave(a)sudoroom.org More options at https://sudoroom.org/lists/postorius/lists/sudo-discuss.sudoroom.org/ _______________________________________________ sudo-discuss mailing list -- sudo-discuss(a)sudoroom.org To unsubscribe send an email to sudo-discuss-leave(a)sudoroom.org More options at https://sudoroom.org/lists/postorius/lists/sudo-discuss.sudoroom.org/ _______________________________________________ sudo-discuss mailing list -- sudo-discuss(a)sudoroom.org To unsubscribe send an email to sudo-discuss-leave(a)sudoroom.org More options at https://sudoroom.org/lists/postorius/lists/sudo-discuss.sudoroom.org/