Level 10 Weekly
Last meeting: 2026-09-15 — Six Peak Capital - Weekly L10
2026-09-15 — Six Peak Capital - Weekly L10
- The meeting reviewed operational systems, project financing, development opportunities, staffing, and construction risks.
- The team also examined priorities for scaling operations and improving administrative processes.
- Subcontractors provide conditional lien releases with invoices, but unconditional releases are required after payment before subsequent client draws.
- Payment timing creates overlap between billing cycles, and follow-up becomes more difficult as project volume increases.
- The team discussed automating communications about missing releases, potentially using Claude to prepare emails for review.
- Grady Lakamp’s Claude implementation rock was removed because an external AI company is expected to provide findings; Derek’s related rock will lead the effort.
- Chris Aiello characterized broader AI adoption as a long-term initiative tied to potential future expansion or acquisitions.
- The Clump and Scott deals received investor approval after Jim Parks agreed to invest and provide guarantees.
- Lender approval, revised loan documents, and formal JV documentation remain outstanding, with closing estimated at approximately three months and construction potentially beginning in late January, subject to permitting.
- LV has begun bidding, and developer-services work remains under discussion.
- Truce’s opportunity-zone investor is ready to close financing, with groundbreaking expected by year-end.
- The sponsor received four awards in round two and is pursuing six more in round three; LV may receive three or four resulting projects.
- Project sequencing will prioritize proximity and could provide work as existing projects conclude.
- Reseda remains highly uncertain after Stein declined to leave equity in the deal because of higher interest rates, creating a potential equity gap of up to $10 million.
- Potential structures include a gap investor, a replacement party with LV as general contractor, purchasing the note, or abandoning the contract.
- The project is not near an equity term sheet, and broader construction-financing conditions are weakening.
- Chris Aiello and Grady Lakamp also discussed possible liquidity support related to bonding, which could reduce bonding costs.
- Uplifters held discussions with 12 design-build groups, which estimated turnkey construction costs of approximately $400–$525 per square foot, excluding more than $30,000 of site work.
- The project was expected to reach market in mid-October with a possible mid-December closing.
- Brookfield and Williams Rebuild may provide comparable quality to Tom James Homes at roughly 25% lower cost, making Tom James less competitive as a partner.
- Frolic’s construction could begin approximately 18 months after acquisition because of subdivision and Department of Real Estate review.
- The replacement-unit determination remains the critical due-diligence issue.
- Francis’s financial items were reconciled, but reimbursement, co-investment funding, and required signatures remained outstanding.
- The first draw was targeted for month-end, while a possible $50,000 soft-cost draw could provide short-term liquidity.
- The DWP license agreement for 3rd Street is expected to generate approximately $6,000 monthly for up to 24 months, with a 90-day cancellation right, helping offset carry costs.
- Construction and staffing updates included Sammy joining as an APM, Alex Rodriguez as superintendent, and Priscilla as project coordinator.
- Francis construction had installed shoring beams and removed approximately 600 yards of dirt, but drawing quality and unresolved design issues remained concerns.
- Grady Lakamp reported uncertain off-site utility pricing and power-vault issues for Scott and Clump, while Truce appeared more straightforward.
- The team also identified the need for stronger pressure on design and planning matters, with Greg available as a technical resource.
From 2026-09-15
No action items remaining.
Needed to keep moving
No files referenced.
Active this week
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Bob Kennedy Bob Kennedy will use the finalized scorecard to build an automated dashboard that pulls finance metrics via Claude and integrate it into the L10 weekly portal from action item
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Bob Kennedy Bob Kennedy will execute the consulting agreement with Tom by the end of next month and attempt to add it to the near-term list if not completed today or tomorrow from rock (Q3 2026)
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Bob Kennedy Bob Kennedy will create the LIHTC email-search prompt using Claude/Read AI (or ensure Claude/Read AI is assigned the to-do) during the upcoming week from action item
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Bob Kennedy Bob Kennedy will email Chris the IDS/issues list links to add to the dashboard from action item
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Chris Aiello Chris Aiello will implement the scorecard and IDS links in the dashboard once Bob sends them from action item
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Bob Kennedy Bob Kennedy will research methods to let Claude access and scrape email attachments (including workflows that add attachments to Google Drive) and report findings from action item
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Bob Kennedy 401(k) attorney memo — close out or kill from rock (Q3 2026)2026-09-30
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Chris Andresen Finalize restructure of equity positions under SPC & CLH2 from rock (Q3 2026)2026-10-31
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Chris Andresen Chris Andresen will determine the next steps for the lien-release automation document during the week. from action item
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Chris Aiello Chris Aiello will help configure Claude to prepare lien-release follow-up emails for review and sending. from action item
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Derek Derek will drive the Claude implementation effort related to the external AI company’s findings. from action item
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The team will negotiate a new term sheet for the Clump and Scott deals if Stein is no longer involved. from action item
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The team will evaluate which Truce-related projects LV should pursue based on proximity and capacity. from action item
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MRK MRK will work on finding a gap investor for Reseda. from action item
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Chris Aiello and Grady Lakamp Chris Aiello and Grady Lakamp will meet with Justin Krueger to discuss potential liquidity support related to bonding. from action item
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Bob Bob will follow up with participants about the Palm Springs off-site agenda and details. from action item
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Schuyler Dietz Schuyler Dietz will send the initial request for information to the design-build groups. from action item
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Chris Andresen Chris Andresen will check which MRK parties have funded their capital calls. from action item
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Chris Andresen Chris Andresen will set up the DWP payment portal for 3rd Street. from action item
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Chris Aiello Chris Aiello will contact Adam to resolve the entity name and clarify the entity-formation process. from action item
Shared quarterly goals · force-ranked
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#1Reseda — economics and role: fact-finding memo by 11/30Owner Chris AielloControllable action Writing the memo.Pressure-forcing rock, not the term-sheet rock. Rewritten by Aiello 9/5. Gap restated 9/17: $6.0M on the R4 B-bond run at a 5.00% ten-year (the ~$7.5M in the rock statement is superseded). Draft memo started, filed at 01 Deals\8350 Reseda\Financing.
Done when…
Memo delivered by 11/30 with the economics of each capital option and of developer vs GC-only, side by side. Capital sources without economics in hand by 10/31 are shown as unknowns, not held for.
Rock: Fact-finding memo to Bob and Steyn IC by 11/30 on what is possible for Reseda under today's constraints, now that we have a track record: the capital structure options (gap investor, ground lease, B-bonds), the ~$7.5M gap, the extension past 12/31, and the economics of staying on as developer versus stepping back to GC-only through LV. Not an exit analysis; selling or walking is not on the table.
- 30d 9/30: Silver Peak conversation documented; capital sources asked for economics
- 60d 10/31: capital-source economics in hand or shown as unknown
- 90d 11/30: memo delivered
Depends on: Bob: MRK read on their capital leads. Patrick Anderson: loop in on capital-source outreach. Low risk
V/TO: 1-Year Plan; Pipeline and Growth
2026-11-30 -
#2MRK overreliance / LIHTC adjacencies — Phase 1 memoOwner Bob KennedyControllable action Writing the memo; booking the sponsor call.Combines Group B (MRK) and Group T (Adjacencies). Macro headwinds stays parked for Q1.
Done when…
Memo (max 8 pages) circulated to L10 team and Steyn IC by 11/30; names 2+ California LIHTC sponsors with 2022-2026 9%/4% award history, geographic and unit-count overlap, and proposed economic framework; names 2+ adjacent revenue theses with sizing, capital requirement, and 12-month execution path; 1+ exploratory sponsor call documented; Q1 2027 Phase 2 milestones defined and adopted at January L10.
Rock: Complete Phase 1 of the multi-quarter effort to reduce execution dependence on MRK Partners by producing a written Post-MRK LIHTC Executor strategy memo, adopted by L10 and shared with Steyn IC: (a) two+ alternative California LIHTC sponsors profiled, (b) two adjacent revenue theses tied to the LV platform, (c) a phased 4-quarter roadmap with Q1 2027 deliverables, (d) one documented exploratory sponsor conversation by 11/30.
- 30d 9/30: sponsor long-list drafted; adjacency theses shortlisted
- 60d 10/31: 2 sponsor profiles + 2 adjacency theses complete; first sponsor call scheduled
- 90d 11/30: memo circulated and adopted at L10
Depends on: Low — deliverable is a memo and one call, both fully controllable Low risk
V/TO: 3-Year Picture (post-MRK LIHTC executor strategy); Aug 3 board question on asset-class concentration
2026-11-30 -
#3Bonding independence from Krueger — memo + dated pathOwner Chris AielloControllable action Writing the memo; CBI working session by 9/30.Highest-voted existential risk. Q3 CR5 never produced the surety meeting its done-def required.
Done when…
Memo circulated and L10 resolution recorded by 11/30. Surety pricing included if received by 11/15; otherwise CBI ranges. Memo does not wait for a surety.
Rock: Decision-ready memo to L10 by 11/30, with Constructors Bonding input: current capacity and Krueger terms, what our own facility requires (capital, financials, indemnity, collateral), cost vs the 3.25% program, recommendation with a dated 2027 path.
- 30d 9/30: CBI working session held
- 60d 10/31: financial package to CBI for surety indications
- 90d 11/30: memo delivered, L10 resolution recorded
Depends on: Andresen: LV/SPC financials in surety form by 10/15. Steyn: yes/no on indemnity or collateral support by 10/31. Low risk
V/TO: 1-Year Plan; Operating Infrastructure
2026-11-30 -
#4Working-capital revolver with Steyn guaranty — 1-3 term sheets + Steyn approvalOwner Chris AndresenControllable action Agreeing structure with Bob and Aiello; running the lender process; drafting the Steyn proposal.Rewritten 9/14 per Aiello/Bob/Andresen: pivot off the unsecured non-recourse facility to a Steyn-guaranteed revolver at LV under the existing 1% guaranty-fee framework, burn-off once LV hits defined EBITDA and tenure thresholds. Bob's sequence: term sheets first, then Steyn.
Done when…
(i) target sizing, structure, and use-of-proceeds agreed with Bob and Aiello by 10/1; (ii) 1-3 non-binding term sheets from lenders (starting with Chase), with pricing, covenants, borrowing base, and guaranty burn-off language, in hand by 11/15; (iii) written proposal delivered to Steyn (using term sheets as basis) by 11/22; (iv) Steyn approval (yes/no) documented by 11/30. Controllable actions: agreeing structure, running lender process, drafting Steyn proposal.
Rock: Secure 1-3 non-binding term sheets from lenders (starting with Chase) for a working-capital revolver at LV Construction, structured with Steyn as guarantor under the existing 1% guaranty-fee framework, with defined burn-off provisions once LV meets stated profitability thresholds; use those term sheets to obtain Steyn's written approval to guarantee the facility. Target facility size sufficient to (a) fund the $2.5M liquidity reserve required to achieve independent bonding, and/or (b) prepay Steyn's 15% compounding working-capital advances.
- 30d 10/14: sizing, structure, and use-of-proceeds agreed with Bob and Aiello; Chase and 2+ other lenders contacted
- 60d 11/13: 1-3 indicative term sheets in hand with burn-off provisions negotiated
- 90d 11/30: written proposal to Steyn delivered; yes/no decision documented
Depends on: Bob and Aiello (upstream sizing and structure), Chase and 2+ additional lenders, Steyn (guarantor decision) Medium risk
V/TO: Operating Infrastructure
2026-11-30
By owner
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Klump / Scott legal — transaction docs negotiated and executedDone-def depends on counterparties — flag against the Q4 controllable-action rule.
Done when…
Both closing binders complete; closings funded (or January per IC).
Rock: Transaction documents negotiated and executed on both assets and closing conditions cleared, supporting the 12/31 close.
Depends on: Counsel, sellers High risk
V/TO: Pipeline and Growth
2026-11-30 -
LIHTC developer-side closing checklist — v1 publishedControllable action Building and publishing the sheet.Consolidates Derek Sanders' Q3 CF (LIHTC operating manual). Moved off the company list 9/15; same scope, now an individual rock.
Done when…
Sheet complete and categorized across 9 workstreams; reviewed by CMA, CMA2, and DJS; saved to Six Peak Dropbox and L10 portal; referenced in the next LIHTC closing kickoff memo; Derek's operating-manual scope explicitly consolidated in.
Rock: Publish v1 of the Six Peak developer-side LIHTC closing checklist (single Google Sheet, categorized: legal, title/survey, financing, bonds, insurance, entity/org, LAHD/regulatory, GC/construction, draws), populated from the Francis Avenue post-closing reconciliation and 300 De Haro precedents, with owner, source doc, and due-date columns; adopted as the standard sponsor closing checklist for Reseda and the next Six Peak LIHTC closing. Derek Sanders assisting on script/manual portion.
- 30d 9/30: template scaffold + Francis reconciliation source pulled
- 60d 10/31: v0.5 draft populated; CMA/CMA2/DJS review scheduled
- 90d 11/30: v1 published and referenced in Reseda or next closing kickoff
Depends on: CMA, CMA2, DJS review Low risk
V/TO: Operating Infrastructure
2026-11-30
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HVN 2027 LIHTC list confirmed with Matt Land + LV awards confirmedControllable action Getting the list in front of Matt and asking for the commitment; meeting held by 9/30.
Done when…
Confirmed 2027 list in hand from HVN by 11/30, with Matt's confirmation on the LV awards.
Rock: Confirm the 2027 HVN LIHTC list with Matt Land and get his confirmation, written if possible and as binding as he will give, of which projects are awarded to LV, with units, locations, application/award dates and LV scope, by 11/30.
Depends on: Matt Land / HVN Medium risk
V/TO: Pipeline and Growth
2026-11-30 -
Klump / Scott — final business terms and closing documents in execution formControllable action Delivering our final documents and deadline; BBC's signature is theirs.
Done when…
Documents delivered, final position sent, Six Peak-side Genesis closing conditions cleared, all by 11/30.
Rock: Replacement term sheet (superseding the 1/16 LOI) and JV documents delivered to BBC in execution form, with Six Peak's final position on every open term in writing and a signing deadline of 11/30. Close is a December/January IC milestone, not this rock.
Depends on: Bob (pairs with his K&S legal rock). Steyn: guaranty terms confirmed in writing by 10/15. Medium risk
V/TO: Pipeline and Growth
2026-11-30
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Francis Citi draw + R4 reporting SOP
Done when…
SOP written; Q3 reporting distributed timely.
Rock: Draw process and SOP defined; Q3 investor reporting completed.
Depends on: Low Low risk
V/TO: Operating Infrastructure
2026-11-30 -
Evaluate construction-specific finance software
Done when…
Demo completed and memo delivered with recommendation.
Rock: An alternative construction-finance option demoed; pros/cons documented (including AI integration) and summary presented.
Depends on: Vendors Low risk
V/TO: Operating Infrastructure
2026-11-30 -
Lien-release automation for LV
Done when…
Automated workflow live; process documented.
Rock: Lien-release organization, tracking, and communication automated across LV active jobs (excluding Crenshaw).
Depends on: Low Low risk
V/TO: Operating Infrastructure
2026-11-30
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Francis — first 3 draws funded + supplemental permit
Done when…
Three draw packages submitted complete on schedule with zero Six Peak-side deficiency items open more than 5 business days at 11/30; supplemental permit application and all LADBS corrections responded to, with the alternate design formally submitted if gravity drainage was not cleared by 10/1. Permit issuance and funding are tracked as outcomes, not the test.
Rock: By 11/30, Derek submits the complete supplemental permit package and a plan-check response to LADBS that resolves the CPC 709.1 condensate-drainage issue, revised CASp, MEP drawings and revised civil plan with condensate routing — and facilitates draw packages 1, 2, and 3 to Citi/Berkadia/Hillmann complete and on the contractual dates, with every lender or inspector deficiency item answered within 5 business days of receipt.
Depends on: LADBS High risk
V/TO: Pipeline and Growth
2026-11-30 -
Third Street — LADWP encroachment resolved + EAR submittedFacilitator flag: IC 8/25 paused Third Street pending TC pricing and rates. Confirm the pause was lifted before committing.
Done when…
Written LADWP determination in hand; design and programming for EAR completed. Package will be complete in a later rock.
Rock: LADWP encroachment path confirmed (written determination from UG section, Beshir); DWP field observation completed and cost estimate received; design and programming for EAR package complete and signed off for submittal.
Depends on: LADWP High risk
V/TO: Pipeline and Growth
2026-11-30 -
Reseda — project readiness for permitting
Done when…
Readiness checklist across the permitting workstreams 100% complete or documented with any outstanding critical-path items remaining, reviewed with Aiello, and the per-path fee/timeline schedule delivered to Aiello.
Rock: By 11/30, Derek completes the Reseda permitting readiness package for both buildings under the AHIP / LAMC 12.22 A.39 split: plan-check resubmittals, LID / cistern submittal, CASp done, LADWP service application submitted, and a permit-fee and timeline schedule for each capital path in Company Rock #1 (gap investor, ground lease, B-bonds, GC-only).
Depends on: Depends on Rock #1 path selection Medium risk
V/TO: Pipeline and Growth
2026-11-30 -
GrindAI implementation roadmap (discovery memo)
Done when…
Deliver memo of discovery findings along with key analysis for team review.
Rock: By 11/30, Derek delivers the GrindAI implementation roadmap after the discovery period ends. Determine how feasible workflow builds will be for LV, including costs and potential ROI for the organization.
Depends on: GrindAI consultant, LV/SPC teams Medium risk
V/TO: Operating Infrastructure
2026-11-30
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Refine + distribute finance SOPs and monthly checklist (Claude-updated)
Done when…
SOPs and monthly checklist refined and distributed; Andresen sign-off recorded on both.
Rock: Refine finance-task SOPs (incorporating Claude workflow changes) and the monthly checklist for financial statements and LV pay apps; distribute to Alina, Kim, Brisa, Andresen, and others as applicable; reviewed by Andresen.
Depends on: Low Low risk
V/TO: Operating Infrastructure
2026-11-30 -
Continue Claude implementation in finance tasks
Done when…
Task list compiled; 1 additional improvement documented with before/after comparison.
Rock: Compile full task list; audit list and document Claude involvement; document at least 1 additional task improved with Claude, with baseline vs post-Claude comparison and a written note on time saved and error-rate change.
Depends on: Low Low risk
V/TO: Operating Infrastructure
2026-11-30
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Uplifters Foundation — $25M subordinate debt committedDone-def depends on counterparties — flag against the Q4 controllable-action rule.
Done when…
$25M committed via signed commitment agreements.
Rock: Commitment agreements in place for $25M sub debt.
Depends on: Lenders Medium risk
V/TO: Pipeline and Growth
2026-11-30 -
Uplifters Foundation — 3rd-party GC/sub LOIs signed
Done when…
5-6 LOIs signed; payment structure confirmed.
Rock: 5-6 signed 3rd-party GC LOIs plus confirmation on construction payment structure.
Depends on: GCs Low risk
V/TO: Pipeline and Growth
2026-11-30 -
Acquire / have a path to acquire the SLBI lot with FrolicSheet row added after the session; facilitator flagged SLBI lot as high dependency.
Done when…
Lot in escrow or closed by end of the year.
Rock: Have the lot in escrow, and identify capital structure with a signed agreement in place with Frolic discussing our working relationship with a responsibilities matrix.
Depends on: Partnership agreement High risk
V/TO: Pipeline and Growth
2026-11-30 -
Pro-bono trades for Foundation homes — 3 agreementsChris 9/14: load. (Sheet note on the GC/sub LOIs rock said this was dropped; row kept.)
Done when…
Agreements are signed.
Rock: Find at least three suppliers and have an agreement in place that will lower the cost of construction for the Foundation's homes.
Depends on: Providers Medium risk
V/TO: Pipeline and Growth
2026-11-30
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CRM platform selected and populated for BD
Done when…
Platform live; population complete.
Rock: CRM platform selected, onboarded, and populated with all existing clients, prospective clients, and pipeline.
Depends on: Vendor Low risk
V/TO: Operating Infrastructure
2026-11-30 -
LV capacity — defined scaling process + memoGrady's staffing CF can be picked up here or dropped.
Done when…
Memo circulated; process documented.
Rock: Memo summarizing internal study of threshold for nearest possible execution date and process to mobilize by that date, addressing <4-month lead-time scaling for new client opportunities.
Depends on: LV team input Low risk
V/TO: Operating Infrastructure
2026-11-30 -
BD sourcing cadence — monthly meetings with 3+ providers
Done when…
Recurring cadence live with 3+ providers.
Rock: Monthly call/meeting calendar established with core group of service providers (brokers, title, lenders, arch); recurring opportunity meetings with at least 3 providers.
Depends on: Providers Low risk
V/TO: Pipeline and Growth
2026-11-30
Closed with results
Q3 2026 18 / 32 rocks done · official 18/32
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Finance engine institutionalized HighDoneOwner Bob KennedyDirectly supports Wickman’s 90-day priorities and data component.
Done when…
Written finance JTBD for the CFO seat (scope: FP&A, cash management, capital markets, Board Portal updates) agreed by Bob, Chris Aiello, Grady, and Chris Andresen; Board Portal pulls actuals vs model monthly for at least 3 consecutive months with MDA circulated before each finance review; standard 12-month cash forecast and cost-of-capital template built, linked to the model, and used in at least one real decision (for example, LOC vs Steyn draw).
Depends on: Chris Andresen for modeling and reporting; Steyn data availability
2026-08-31 -
Six Peak HoldCo operating system fully live HighDoneOwner Bob KennedyPure Wickman: L10 cadence plus 90-day Rocks at the parent level.
Done when…
Six Peak L10 held at least 12 of 13 weeks with an updated parent scorecard; daily or MWF stand-ups and weekly 1:1s in place and happening for each direct report with simple written agendas; Q4 2026 Rock-setting session completed using this cadence, with Rocks for each direct report tied to the VTO.
Depends on: Direct reports’ calendars; adoption by leadership team
2026-08-31 -
Business development engine defined High→ Task Parent / LVOwner Bob KennedyEnsures 3–7 individual Rocks align to a clear company-level BD priority.
Done when…
Tom BD consulting agreement fully executed; written BD playbook produced (target profiles, give-before-you-get process, LIHTC lists, demo/permit monitoring, outreach metrics); Q4 BD scorecard defined with 3–5 weekly measurables agreed and ready for use.
Depends on: Tom as primary BD; LV leadership for capacity input
Why: One outstanding item (executed BD consulting agreement) delayed by Francis closing.
2026-08-31 -
LIHTC closing checklist built HighCarried Dev / LVOwner Bob KennedyConverts “begin Francis construction” into a controllable process Rock.
Done when…
Complete written LIHTC developer-side closing checklist covering all documents, back-and-forth items, and consultant deliverables needed to close Francis as a LIHTC deal (developer side, tax-credit equity, and debt closing only); checklist validated against Francis documentation and explicitly marked as reusable for Third Street and Reseda.
Depends on: Chris Andresen and Derek for inputs; Francis closing experience
Why: Francis Avenue delayed close (June to mid-August) compressed the working window.
2026-08-31 -
Mandate Claude Cowork adoption with an easy Projects manual MediumDone Parent / LVOwner Chris AielloDirectly supports org-wide AI adoption you discussed in the Q3 meeting.
Done when…
Short, plain-language manual explaining Claude Cowork Projects (how to set up, return to, and maintain per-deal projects) distributed to the team; Cowork usage required across the org for at least 3 active deals, evidenced by Projects with multiple updates over the quarter.
Depends on: Derek to drive org-wide adoption; Derek’s AI workflows
2026-07-15 -
Board portal and Steyn reporting standard finalized HighDone Parent / LVOwner Chris AielloCombines “Finalize board portal” and the Steyn reporting IDS into one Company Rock.
Done when…
Board portal finalized in a Steyn-accepted format, incorporating LV open items; Steyn-Six Peak reporting handoff standard (single format and checklist) agreed by Bob, Chris Aiello, and Chris Andresen; portal and standard used for at least one monthly reporting cycle by 9/30.
Depends on: Steyn sign-off; data from LV and finance
2026-08-31 -
LV 3rd-party platform and capacity readiness defined MediumDone LVOwner Tom TaggartAnchors Tom’s BD Rocks and keeps them within LV’s execution capacity.
Done when…
Written LV 3rd-Party Platform Brief (service lines, target buyer profile per line, fee structure, contract posture, explicit “won’t do” list) completed; joint written capacity-readiness assessment with Grady covering 18-month committed load and required hires; recommendation on earliest credible go-to-market window (for example, Q4 2026 vs Q1 2027) documented and reviewed in L10.
Depends on: Grady and LV senior team for bandwidth and hiring assumptions
2026-08-30 -
LV bonding and growth roadmap documented MediumDeferred LVOwner Bob KennedyKeep as future Rock; not scored as a Q3 Company Rock per your instruction.
Done when…
Bonding memo completed summarizing current capacity, project pipeline, track record, and target capacity by year through 2028; meeting held with Travelers to present the case and agree on quantitative milestones for increased capacity; at least one supplemental surety or alternative structure explored and documented, even if not pursued.
Depends on: Travelers; LV delivery performance
Q4 2026
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Benefits & employment attorney-produced memo on LV / Six Peak 401(k) Medium→ Task LV / ParentCompliance + tax savings.
Done when…
ERISA guidance letter in hand confirming compliance for comparable benefit plans
Depends on: Outside legal counsel; HR support
2026-08-31
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Refine construction-estimating skill HighDone LV / ParentSupports BD engine and LV platform Rocks.
Done when…
By 9/30, the estimating skill is refined and validated against LV’s historical bids (Francis, Ramsgate, HVN, Greg Smith’s sheets) so indicative pricing lands within an agreed tolerance, and it has been used on at least one live BD opportunity.
Depends on: Data from LV, Derek, and Greg
2026-08-31 -
Sell 626 Wilton HighDone DevClose on sale to Category
Done when…
By 7/15/2026, either (a) current offer is accepted and under contract, or (b) a written fallback business plan (hold, develop, or re-market path) with financial case is approved by partners.
Depends on: Partners’ decision; market inputs
2026-09-15 -
Complete Tom’s transition from asset management to BD HighDone Parent / LVAligns Tom fully with BD engine.
Done when…
By 9/30, (a) Tom delivers Ramsgate PM proposals and Chris finalizes PM with Ramsgate LP (with Derek support), (b) Chris takes over Reading effective 7/1, and (c) Tom hands 100 percent of Melrose back to Steyn Group; all documented in writing and communicated.
Depends on: Derek; Steyn
2026-07-01 -
Finalize AI sister-company deal MediumDone Parent / LVSubordinate to Company Rocks but important.
Done when…
By 8/1/2026, signed term sheet or executed agreement with one of the two AI sister-company prospects, defining structure and economics.
Depends on: Counterparty timing
2026-08-31 -
9033 Ramsgate PM Proposals DoneFinalize all proposals and present recommendation to Kinfolk.08-31-26
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Put in place a non-recourse revolving LOC HighCarriedNot a Q3 Company Rock, but a clear individual Rock aligned with the finance engine.
Done when…
Target facility size, structure (true non-recourse or limited recourse), and covenant package defined with Bob and Chris Aiello; at least 3 lenders screened, with 2 term sheets received and compared; one facility approved and documented, with internal use-of-proceeds and draw/repay guidelines agreed by Bob and Chris Aiello.
Depends on: Chris Andresen leads lender process
Why: Zero lender contact in Q3; upstream dependency on Bob for sizing and structure.
2026-10-31 -
Finalize board-portal financial reporting process HighDone Parent / LVSupports Company finance engine and board-portal Rocks.
Done when…
Board-portal financial reporting updated monthly for 3 consecutive months with reconciled actuals vs model and MDAs prepared in time for the finance review; process documented so it is repeatable.
Depends on: Data from LV; Bob for expectations
2026-08-15 -
Finalize restructure of equity positions under SPC & CLH2 Medium→ TaskClear binary completion.
Done when…
All positions restructured into intended SPVs; new entities formed; financials and cap tables updated to reflect the structure; coinvestment agreement and Hunton steps completed.
Depends on: Legal (Hunton); coinvest partners
Why: Delayed by Francis closing and Jane's vacation.
2026-08-15 -
Implement Claude in at least one LV finance workflow MediumDone LVMirrors Robert’s AI Rock; both remain individual.
Done when…
At least one recurring LV finance workflow (for example, employee reimbursements and related AP) fully or partially automated using Claude, running in production for 2 consecutive months.
Depends on: LV finance team; AI tools
2026-08-15 -
Evaluate construction-specific finance software LowCarried LVKeeps software evaluation bounded.
Done when…
List of alternative construction-finance / ERP options produced; pros/cons documented for each, including AI integration; summary presented to Bob and LV leadership with a recommendation to keep Yardi or pilot an alternative.
Depends on: Vendor transparency
Why: Timing.
2026-08-31
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Execute Ramsgate offsite conduit proposal HighKilled LVFully in Derek’s “execution lane.”
Done when…
Subcontractor mobilized and actively trenching in the street; all LADWP refund documentation executed; underground trenching work underway, even if it bleeds into Q4.
Depends on: LADWP permits; lender approvals
Why: Carried forward with no rewrite and no notes.
2026-08-30 -
Assist Jonah/LV on AI workflow build MediumCarried LVSupports Company AI adoption Rock.
Done when…
1–2 AI workflows built and actively tested and used by the project team for at least one LV project; Grady has a working dashboard view for those workflows.
Depends on: Jonah; engineering resources; staff adoption
Why: Development team only in place 2 weeks before quarter end.
2026-08-30 -
Develop LIHTC closing operating manual HighCarried Dev / LVKeeps Francis outcome external but process internal and controllable.
Done when…
“Operating Manual for future LIHTC closings” drafted, referencing the Company LIHTC checklist; includes playbook for internal roles, sequencing, and communication; reviewed and approved by Bob and Chris.
Depends on: Bob; Chris
Why: Overlapped with Bob's company rock; consolidated into Q4 CR #4.
2026-08-30
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Implement Claude in PM/PC roles HighKilled LVTightly coupled with Company AI adoption Rock.
Done when…
PM team using Claude Cowork for Excel file management, drafting, and file organization on at least two active projects; usage demonstrated via Projects logs.
Depends on: PM/PC team buy-in; manual from Chris
Why: Owner lacks Claude enablement; dropped from Q4.
2026-08-30 -
Finalize onsite staffing for 2026 projects HighKilled LVSupports Tom’s capacity-readiness Rock.
Done when…
HVN portfolio and Francis staffed with full-time superintendents; at least 3 additional onsite supervising staff hired or signed to offers and assigned to 2026 projects.
Depends on: Recruiting; compensation approvals
Why: Fluid staffing; never rewritten. Dropped given off-site absence; may be picked up under Tom's LV capacity rock.
2026-08-30
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Create monthly checklist for financial statements and LV pay apps MediumDone LV / ParentSupports finance engine.
Done when…
Monthly checklist drafted and implemented for LV financial statements and pay apps; used for at least 2 monthly closes; improvements captured (for example, reduced errors or rework).
Depends on: LV finance team; project accounting
2026-07-31 -
Refine & Distribute SOPs for repeated finance tasks MediumCarried LV / ParentTies directly to EOS process component.
Done when…
Repeated tasks identified; at least 3 core SOPs drafted and in use; SOPs stored in a shared location and referenced at least once per month.
Depends on: Bob / Chris for priority ranking
Why: Claude changed several SOPs; needed refinement before distribution.
2026-09-30 -
Implement Claude in one LV finance workflow MediumDone LVDuplicate in concept with Chris’s Rock, but each focused on different workflows is fine.
Done when…
At least one recurring LV finance workflow automated with Claude, running in production for 2 consecutive months; stands alongside, but separate from, Chris’s AI Rock.
Depends on: AI tools; LV finance team
2026-08-15
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Streamline LV 3rd-party reporting system HighKilled LVWithin his control and directly valuable.
Done when…
Semi-automated reporting system built where LV staff input monthly project updates into a standard template; at least one client or investor receives the new report for 2 consecutive months.
Depends on: LV project teams; AI tools
Why: Owner wrote 'perhaps consider done for now'.
2026-08-31 -
Begin Fundraising process for UL Foundation HighDone
Done when…
Identify major capital investors that will anchor the ~$200mm raise with a timeline to fund closing
Depends on: General apetite for the bonds in the market. this is a novel financing mechanism, but if it works, it opens up an entirely new business line
2026-08-31 -
Complete all regulatory hurdles for Uplifters Foundation HighDoneTEFRA Hearing is now complete, need Council Resolution and Letter from Mayor
Done when…
When all the paperwork is approved by the City. 1) TEFRA Hearing 2) Council Resolution 3) Mayor's letter of supp
Depends on: Entirely on the City's timelines
2026-08-31 -
Have signed LOI's with all UL Foundation Vendors for a turnkey rebuilds HighCarried
Done when…
Have signed LOIs with three GC's who agree to build within our framework, parameters and pricing
Depends on: Apetite of Design Build GC's to sign GMP contracts with a single company
Why: Timing.
2026-08-31
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Develop LV marketing pitch MediumDone LVAligns with platform definition.
Done when…
4–6 page pitch deck completed, covering unique product offering, case-study summaries, execution capabilities (sector, size, schedule, complexity), key team members, and differentiated relationship approach; reviewed with LV leadership.
Depends on: LV leadership for case studies
2026-08-30 -
Build 3rd-party buyer landscape MediumDone LVDesk-research quarter, not outreach quarter.
Done when…
Targeted contact list built for owners, developers, capital allocators, and key service providers within LV’s geographic and sector sweet spots; outreach plan (phasing) aligned with capacity-readiness recommendation.
Depends on: Output from platform and capacity Rocks
2026-08-30
Earlier 15 archived (pre-EOS format, not scored)
- ✓ Bob Kennedy LIHTC Parking Study Oversight Q2 2026
- ✓ Chris Aiello Update BBC memo for 4/13 IC meeing Q2 2026
- ✓ Chris Aiello & Chris Andresen Finalize 3rd St Closing 4/21 Q2 2026
- ✓ Chris Andresen & Robert Carrega Finalize Remaining Restructure Items Q2 2026
- ✓ Chris Andresen & Robert Carrega Review the board portal for accuracy of expenses Q2 2026
- ✓ Company AI Workflow Q2 2026
- ✓ Derek Sanders & Tom Taggart Reading Utility bill back issue Q2 2026
- ✓ Derek Sanders (discuss with Grady) Construction photo plan Q2 2026
- ✓ Schuyler Dietz 8350 Reseda HOA dialogue Q2 2026
- ✓ Schuyler Dietz Create a targeted list of outbound dev. site leads Q2 2026
- ✓ Schuyler Dietz Finalize uplifters memo and term sheet Q2 2026
- ✓ Schuyler Dietz & Chris Aiello Monthly Reporting to Justin Kruger Q2 2026
- ✓ Schuyler Dietz & Chris Aiello Revise LV website Q2 2026
- ✓ Tom Taggart LIHTC Parking Study Q2 2026
- ✓ Tom Taggart Reading Lease renewal plan Q2 2026
Rock hit-rate — company and by person
Rocks done · target 80%
Q4 2026 · 0 of 24 done · 73 days left
- Bob Kennedy0/3
- Chris Aiello0/4
- Chris Andresen0/4
- Derek Sanders0/4
- Robert Carrega0/2
- Schuyler Dietz0/4
- Tom Taggart0/3
Rocks completed · closed quarters, cumulative
| # | Owner | Q3 2026 | Cumulative | % | Streak | Q4 2026 live |
|---|---|---|---|---|---|---|
| 1 | Chris Aiello | 7/7 | 7/7 | 100% | ▲ 1 | 0/4 |
| 2 | Tom Taggart | 3/3 | 3/3 | 100% | ▲ 1 | 0/3 |
| 3 | Robert Carrega | 2/3 | 2/3 | 67% | — | 0/2 |
| 4 | Schuyler Dietz | 2/4 | 2/4 | 50% | — | 0/4 |
| 5 | Bob Kennedy | 2/5 | 2/5 | 40% | — | 0/3 |
| 6 | Chris Andresen | 2/5 | 2/5 | 40% | — | 0/4 |
| 7 | Derek Sanders | 0/3 | 0/3 | 0% | — | 0/4 |
| 8 | Grady Lakamp | 0/2 | 0/2 | 0% | — | — |
What didn't land, and what it became
| Rock | Owner | Result | Why | Now |
|---|---|---|---|---|
| LIHTC closing checklist built Company | Bob Kennedy | Carried | Francis Avenue delayed close (June to mid-August) compressed the working window. | → LIHTC developer-side closing checklist — v1 published |
| Evaluate construction-specific finance software | Chris Andresen | Carried | Timing. | → Evaluate construction-specific finance software |
| Put in place a non-recourse revolving LOC | Chris Andresen | Carried | Zero lender contact in Q3; upstream dependency on Bob for sizing and structure. | → Working-capital revolver with Steyn guaranty — 1-3 term sheets + Steyn approval |
| Assist Jonah/LV on AI workflow build | Derek Sanders | Carried | Development team only in place 2 weeks before quarter end. | → GrindAI implementation roadmap (discovery memo) |
| Develop LIHTC closing operating manual | Derek Sanders | Carried | Overlapped with Bob's company rock; consolidated into Q4 CR #4. | → LIHTC developer-side closing checklist — v1 published |
| Refine & Distribute SOPs for repeated finance tasks | Robert Carrega | Carried | Claude changed several SOPs; needed refinement before distribution. | → Refine + distribute finance SOPs and monthly checklist (Claude-updated) |
| Have signed LOI's with all UL Foundation Vendors for a turnkey rebuilds | Schuyler Dietz | Carried | Timing. | → Uplifters Foundation — 3rd-party GC/sub LOIs signed |
| Benefits & employment attorney-produced memo on LV / Six Peak 401(k) | Bob Kennedy | → Task | Chris 9/14: still open — task. | To-do |
| Business development engine defined Company | Bob Kennedy | → Task | One outstanding item (executed BD consulting agreement) delayed by Francis closing. | To-do |
| Finalize restructure of equity positions under SPC & CLH2 | Chris Andresen | → Task | Delayed by Francis closing and Jane's vacation. | To-do |
| Execute Ramsgate offsite conduit proposal | Derek Sanders | Killed | Carried forward with no rewrite and no notes. | — |
| Finalize onsite staffing for 2026 projects | Grady Lakamp | Killed | Fluid staffing; never rewritten. Dropped given off-site absence; may be picked up under Tom's LV capacity rock. | — |
| Implement Claude in PM/PC roles | Grady Lakamp | Killed | Owner lacks Claude enablement; dropped from Q4. | — |
| Streamline LV 3rd-party reporting system | Schuyler Dietz | Killed | Owner wrote 'perhaps consider done for now'. | — |
IDS themes not taken as rocks · Q4 2026
| Issue / theme | IDS pts | Voters | Why parked | Revisit |
|---|---|---|---|---|
| Macro headwinds for ground-up development | 9 | 4 | No controllable candidate; risk is exogenous. Addressed indirectly via Rocks #2 and #3. | Q1 2027 |
| Internal investment capital for landbanking | 5 | 2 | Distinct from WC facility; no owner emerged. Revisit once Rock #5 delivers a facility. | Q1 2027 |
| HVN reliance on construction pipeline | 2 | 1 | Aiello's HVN pipeline rock deepens this concentration; tension named, not addressed as a company rock. | Q1 2027 |
| AI / SOPs / systems | 0 | 0 | Consolidated to Derek's GrindAI roadmap + Andresen/Carrega individual rocks. | Q1 2027 after Grind discovery |
| Grady's administrative burden | 1 | 1 | No drafting owner this quarter (Grady off-site absence). | Nov 2026 L10 |
| Dropbox reorg / security | 0 | 0 | Zero votes. | Q2 2027 |
| Steyn operating protocol | 0 | 0 | Facilitator flagged KEEP; Ivan's consolidated-budget ask (8/31) and 8/24 sign-off request unanswered. | Next L10 |
History
- 2026-09-15 Six Peak Capital - Weekly L10 0 actions
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