Six Peak Capital - Weekly L10

• The team reviewed a plan to adopt EOS "rocks" on a 90-day cadence, limiting four to seven rocks per person, with pre-work (including annual and three‑year budgets) to be circulated to align priorities and deadlines for the Thursday session.
• Financial and construction items: Ramsgate has low and high clarification bids at about $1.3M and $1.8M; the project still shows over $1M of unallocated contingency.
• Ramsgate construction-administration (CA) remaining fee is approximately $47–48k; the Francis contract CA fee is about $75k.
• Reseda’s contract has roughly $220k remaining, with coordination and permitting work expected to extend into December and potential payment delays due to MRK and AP funding shifts.
• Contracting and signatures: The co-investment document was circulated and signed by Bob and Chris only; six to seven additional signatures remain outstanding.
• Irene sent a draft operating agreement and Bob will review markups.
• Credit-release forms were circulated and forwarded for assignment.
• Leasing and approvals: A tenant-approval delay on an ED1 project prompted review of whether city covenants are required; approvals route through Urban Futures (bond administration).
• The team agreed investigating and clarifying the ED1 tenant-approval process should be a dedicated rock to guide property managers and consultants.
• Architect and construction-administration transition: Participants discussed moving CA in-house under a licensed architect (Greg Smith) and de-risking external relationships.
• Derek recommended retaining Adam at minimum for Reseda because permit plans are stamped under Steve Robert’s license (permit not yet pulled), and suggested delaying any change of architect of record until after closing to avoid regulatory or R4/CID complications.
• The Buenos Aires remote arrangement was judged inadequate.
• Ramsgate will likely remain under existing CA given near-term completion; Francis (30 months from completion) is viewed as higher risk if retained.
• Chris and Derek will de-risk TAG with a drafted narrative and offered payment/agreement.
• Operations and coordination: Derek is finalizing Ramsgate bid clarifications and managing current document turnover; a call with R4 is scheduled for Friday to close environmental and construction comments.
• Tom scheduled a management discussion with Adaptive on Ramsgate.
• There is uncertainty whether title report and survey changes are owned by Anna or the team; Chris recommended a weekly call with Anna to maintain an open-items list until deal close.
• Staffing, outreach, and communication drafts were assigned or in progress.

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