This Cycle · Bi-Weekly Executive

LV Bi-Weekly Executive

Last meeting: 2026-08-18 — LV Executive meeting - bi-weekly

◆ 0 active to-dos ▲ 0 goals set ● Last meeting 2026-08-18

Action Items

Open To-Dos

Goals Set

Meetings Logged

Meeting Summary

2026-08-18 — LV Executive meeting - bi-weekly

The meeting focused on Francis closing costs, budget reconciliation, financing structure, and preparation for the first project draw.
Permits were pulled at approximately $50,000 above projections.
The Yardi budget remains incomplete pending recording of closing costs and transfers to the new entity, and some MRK- or closing-paid costs may require reclassification.
The account is expected to have no cash buffer after outstanding payments.
The first draw is expected in approximately two weeks and should include August costs and other upcoming soft costs.
Financing is expected to use the City loan first, with tax-credit equity arriving later near certificate of occupancy and permanent-loan refinancing or stabilization.
City and R4 will approve draws, and Hillman is expected to provide monthly site reports.
The closing statement contains unresolved discrepancies, including potentially omitted SixPeak advances and a $13.1 million gross-reimbursement figure that does not reconcile with reported costs.
The $98,000 interest-carry deduction is also disputed and was characterized as an illegitimate expense.

Action Items

Chris Andresen Chris Andresen will complete recording the closing costs and prepare the updated Francis budget in Yardi by the end of the week.
Chris Andresen Chris Andresen will provide detailed budget information for review and reclassification of costs assigned to incorrect lines.
Grady Lakamp Grady Lakamp will prepare the construction costs for the upcoming draw.
Derek Sanders Derek Sanders will contact Anna, Josh, and Kathy to clarify the City draw process and copy Chris Aiello and Chris Andresen.
Chris Andresen Chris Andresen will determine whether MRK omitted costs from the closing statement and include eligible amounts in the first draw.
Chris Andresen Chris Andresen will investigate the source of the $13.1 million gross-reimbursement figure and reconcile it to actual costs.
Chris Aiello and Bob Chris Aiello and Bob will address the disputed $98,000 interest-carry deduction with MRK.
Chris Andresen Chris Andresen will work to finalize the closing-cost reconciliation in time for inclusion in the August draw.
Chris Aiello Chris Aiello will identify a new recurring meeting time that works better for the LV team.

Files Referenced

No files referenced.

To-Dos

Chris Aiello and Bob Kennedy Chris Aiello and Bob Kennedy will finalize the commission‑based business development agreement with Tom from action item
Tom Tom will be scheduled to meet with Pedro, Greg, and Grady for onboarding and BD talking points within the next month from action item
The team (Pedro and Grady-led) The team (Pedro and Grady-led) will define a simple monthly tracking method for the five KPIs this quarter or month from action item
Greg Greg will interview the 1099 candidate for dock control to assess availability and fit. from action item
Derek Sanders Derek Sanders will send the notice to proceed after the financing close is confirmed. from action item
Chris Aiello Chris Aiello will push Matt and provide ROMs for the pipeline opportunities after the comma close from action item
Pedro Rosalessr Pedro Rosalessr will monitor Alina and Brisa’s project coordinator workload and report capacity concerns to Chris and Grady as new jobs start from action item
Pedro Rosalessr Pedro Rosalessr will work with Greg to identify when to add a PM support for submittals and RFIs once Francis ramps and keep that hire on the radar from action item

Goals

LV-Six Peak KPIs

1. Construction Schedule - % of milestones achieved 2. Buyout Savings – Budget vs Actuals 3. Safety Performance 4. Subcontractor Performance – Measure trade partner quality 5. Construction Team Workload – Measure staffing efficiency

Discuss 7/7/26
Uplifters Foundation

to be discussed

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