Banks asks how RAD/PACT partners handle needed investments in centers
Banks asks how the RAD/PACT partner deals with needed investments in centers that have not been rehabbed. Trimble says the new landlord would be responsible for making repairs to ensure continuity of services. Banks says it is interesting that rehabbing centers is not a requirement.
So how was the RADPAC partner then dealing with the needed investments that's needed in those particular centers?
Were they just allowed to just exist?
They would continue to make their repairs in order to ensure continuity of services.
So the Rad Pack partner would be responsible for making those repairs?
Yes, as the new landlord, they would be responsible for making the repairs in the centers.
Okay.
That's really interesting that that's not a requirement to rehab these centers.
Because obviously if you're rehabbing an apartment, it would make sense that you would rehab the centers or just like any other commercial spaces that may be a part of the night to develop.
Absolutely.
It's always included in our scope at the start.
However, again, the...
The resources that are required to do these projects may mean that we don't have enough funding to do a full scope for the centers.
Our priority is the apartments.
Okay.