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Sawnmflill Cove

IN D U S T R I A L PARK

329Harbor Suite212.Sitka. 99835 AK Dr.

907-747-2660

Thursday, 16,2009 July MEMORANDUM To: From: Subject (SCIPBoard) Sawmill CoveIndustrial ParkBoardof Directors GarryWhite,Director AlaskaLLC/Cove Starwest Partners LLC- Lot 5 SCIP

Background Lot 5 otherwise knownas the TAB building was soldto TrueAlaskaBottling Company (TAB)on 12106106 $722,720.00. purchase for The agreement the saleof the for property contained "reversionary a interest" (TAB)to clauserequiring purchaser the complete items withinthe18months the purchase. certain of TABfailedto complete the per itemsoutlined the contract.As suchthe CBS sentTAB a 45 cure letterto remedy the situation July15,2008. on On August13,2008,CBS received notice fromBaxter Bruce& Sullivan P.C.,attorney's retained CovePartners by LLC (Cove)that Covewas the currentproperty owners. property Coveon 12lOGl06. Unknown the CBS,TAB has soldthe to to Coverequested to extend cureperiod the until09/19/08. On September 25,2008the SCIPBoardmet in executive session withCove's attorneys and CBS attorneys discussthe legality the reverters. to of On September 2008,TABshutsdownwaterbottling 26, operations. On October30, 2008the SCIPBoardmetwith the principal ownersof Coveto discuss theirplansfor the building. On 11112109 deededLot 5 to Starwest Cove Holdings LLC. On 11121108 terminates leasewithTAB for operations Lot 5. Cove it on In the fall of 2008,the CBSand Stannrest workedto establish confidentiality a plans. agreement sharetheirbusiness to On O2lO4l09 Starwest Holdings LLC deededLot 5 to Starwest AlaskaLLC. On 02125109 Starwest schedule meetwiththe SCIPBoardto discuss is to their plan,but canceltodevelop planin greater business detail. business

starwest addresses sclP Board the persons be heard during to section the 06/0g/09 of

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ortheir business ano pt-ah inrorms Board water beinj the that is

Starwest AlaskaLLCwishesto present furtherinformation theirplansfor Lot 5 and on its operationas a water botflingplant.

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