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Ms. Forbath answered that a buyer would have the advantage of home ownership. She explained that centers would still have their rent to pay, but they would not have any voters' rights. The resident of unit 99 asked if the owner or his beneficiaries could rescind the ten year deal before ten years. Mr. Roush explained that the ten year deal could not be rescinded. He stated that the park could be sold to a third party, but the new owner would buy it subject to the same condition. He noted that if a new owner bought the park in three years, he would have to wait seven years to do the conversion. A member of the audience noted that out of 120 people surveyed, 35% said yes, 32 % said no and 33% were undecided. She stated that ten years is a long time to wait to make decisions on finances and it would be very helpful to get some kind of ballpark estimate that would determine their answer to buy or continue to rent. Ms. Forbath noted that no decision is needed for ten ,years. A resident stated the estimate would be helpful for planning purposes. Mr. Fritsch stated that the majority of people were interested in the conversion which allowed the owner to start the process. Ms. Forbath stated they are required by law to send out a survey, but in reality, there is no percentage required by law of how many must support the conversion. She noted the survey information is used by them to see how they can help or accommodate people regarding the conversion. A member of the audience mentioned that if only one person in the park supported the conversion and all other people were against the conversion, the conversion would still take place. A resident stated that they need a conversion committee. Ms. Forbath stated a conversion committee would be formed. Ms. Forbath mentioned that in the beginning they had hoped that some people in the park were interested and would want to help this conversion become a reality. She explained that they did not receive much positive feedback or involvement, so they wanted to stir up something to move this conversion in a positive direction. She stated thaC their goal was Co get this process completed. They were hoping that residents would be supportive and that we could hear from them their concerns and issues and we could address them to make this process run smoothly. She explained that they did not receive much feedback or any positive feedback, so they decided to provide the information by sending out flyers, having a few meetings, and answering phone calls. She mentioned that they had not received many calls. She explained the process with the City took longer than expected. Minutes: PMCC-2 Page 5 January 9, 2009