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94-21331 RESO Incomplete RESOLUTION NO. 94-21331 A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE THE ATTACHED AGREEMENT BETWEEN THE CITY OF MIAMI BEACH AND THE TISHMAN HOTEL CORPORATION FOR HOTEL NEGOTIATOR SERVICES. WHEREAS, the City of Miami Beach City Commission has selected two development firms to develop convention hotels; and WHEREAS, the City of Miami Beach is preparing to enter into negotiations with these firms; and WHEREAS, this negotiation will lead into commitment of public funds; and WHEREAS, the City of Miami Beach desires to retain consultants to assist with these negotiations; and WHEREAS, the Tishman Hotel Corporation was selected from a field of six qualified firms and is capable of providing these services. NOW, THEREFORE, BE IT DULY RESOLVED BY THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA THAT THE MAYOR AND CITY CLERK ARE HEREBY AUTHORIZED TO EXECUTE THE ATTACHED AGREEMENT BETWEEN THE CITY OF MIAMI BEACH AND THE TISHMAN HOTEL CORPORATION, TO PROVIDE HOTEL NEGOTIATOR SERVICES. PASSED and ADOPTED this 5th , 1994. ATTEST: ~~J ? <~,~ CITY CLERK CITY ATTORNEY ( Date 10/04/94 09:36 FAX 212 262 0037 TISHMAN "OCJ-~~-~4 18,07 FROM, DEV/OSStGN/H.P. SERVICES 10; 3""'-:; 873 7772 @002 PACE 1 CITY OF- MIAMI BEACH CITY HALL 1700 CONVENTION CENTER DRIVE MIAMI BEACH FLORIDA 33139 -'- OF~ICE OF THE CITY MANAGER TELEPI10NE: 13D!i) 173.7010 FAX: (305) 173-7112 Seplcmber 30. 1994 Mr. John Tishman President and CF.O Tishman I10tcl Corporation 666 J:i Iih A venue New York. New York 10103&0256 Dear Mr. Tishman: As per our telephone conversation of September 26, 1994. 1 am ofJ'ering thl: following proposal for negOliations advisory services li-om your firm: (1) The services shall consist ofncgoliadng development agreements on behalf of and aCling as development consu)(anl to the City with regard to the Locws project and [he HeF project (2) The City Administration and City Anomey each will appoint a .single point pers(,ln to whom you will repon. From time to time, you will report to and/or meet with The full City Commig~ion. (3) The fee for six months or services shaH be cappt!u at $322.000, payable in equal monthly installments. plus om ofpockcr costs in accordance wilh City travel proceedures. (4) The services can be terminated by [he City at any time with six weeks notice. In the event ofsu{,;h t~nnination. your fee will be prorated as ofth~ dale of the Clly's termination lener, plus six weeks. (5) If more than liix months arc necessary to complete negotia.tions with regard to cilh~r orboth t)(' the hotel projects, the extension of your contracl must be brought back before the Miami Beach City Commission t'br approval. rf lhe conrrac[ is ~l(tendcd beyond si~ months. lhe monthly fee tor each of the tollowing monUls up to six months "",ill be the: fee paid the prior month minus 1.5% of that tee. If additional rime beyond the inirial 12 months is nCl?ded to cnnclude negotialions. the contract will be renegotiated and pr~g~nt~d l(J the Cily Commissiun for consideration and approval.l.l that time. (6) Your fiml's retention is contingent on lh~ resolution of any c<.mflict of interest issues. 10/04/94 09:36 FAX 212 262 0037 TISHMAN OCT-03-8Q 18'~r F~on' C~V/D~SIGN/H.P. SSRVICSS 10, 3~S 673 7772 141003 PAGE 2 Mr. John Ti~hman Tishman Hotel Corporation September 30, 1994 I'agc Two If you conl.:ur with thcs~ tcrm~ and conditions, pleas(: sign and indit;'ue (he dale on the line below and return this lener to us. We will then prepare a. rannal contract for execution. Sincerely. \ {2k{;~<~otf~ tav.rence Feingold City Anomey Roger M. Carlton City Manager KMC:jph ~ President & CHO Tishman Hotel Corporation 10 -<;- C}'-/ ._.._.,~"-'.',',.~._.- Date CITY OF MIAMI BEACH CITY HALL 1700 CONVENTION CENTER DRIVE MIAMI BEACH FLORIDA 33139 COMMISSION MEMORANDUM NO. :l t.Jl- q l( TO: Mayor Seymour Gelber and Members of the City Commission DATE: October 5, 1994 FROM: Roger M. Carlto City Manager Laurence FeingOl~ ~~ City Attorney SUBJECT: HOTEL NEGOTIATOR/TISHMAN HOTEL CORPORATION ADMINISTRATION AND CITY ATTORNEY RECOMMENDATION: It is recommended that the City Commission and the Redevelopment Agency Board authorize the Mayor and City Clerk to execute an agreement for negotiations advisory services with the Tishman Hotel Corporation, BACKGROUND The City Commission and Redevelopment Agency Board, at their September 22, 1994 Meeting, selected the Tishman Hotel Corporation from a list of six potential firms to provide negotiations advisory services to the City relative to the hotel proposals. The Administration and the City Attorney had discussions with Tishman Hotel Corporation and they have reached agreement on the basic terms in costs. Initially the Tishman Hotel Corporation had proposed their fee structure based on negotiating solely for the Loews Hotel, The proposal has been restructured and, for the same fee consideration, encompasses the negotiations for both the hotels, CONCLUSION: Due to the shortness of time, a contract will be prepared and presented to the Commission in an addendum packet, RMC:LF/jph Attachment ;;6 1 AGENDA ITEM R-l-(l- DATE ---1 {)-S...q V 5 RICX;ECREST NORTH · SCARSDALE, NEW YORK, 10583 · TELEPHONE & FAX: 914-472-4506 MICHAEL B. MEYER PROFILE ExEClJflVE LEVEL NEGOTIATOR WITH STRONG PROJECT MANAGEMENT SKlLLS AND BROAD KNOWLEDGE OF THE HOSPITALITY INDUSTRY AND AN UNDERSTANDING OF THE INTERESTS AND PROCESS OF PUBLIC ORGANIZATIONS. EDUCATION HARVARD BUSINESS SCHOOL MBA,1981 OBERLIN COLLEGE BA, ENGUSH, 1977 EXPERIENCE PORT AUTIlORfIY OF NEW YORK & NEW JERSEY MULTI-BILLION DOLLAR AGENCY RESPONSIBLE FOR CONSTRUCTION AND MANAGEMENT OF TRANSPORTATION INFRASTRUCfURE AND PROMOTION OF TRADE AND COMMERCE IN THE REGION. ASSET MANAGER, VISTA HOTEL, 1989 - PRESENT OWNER'S REPRESENTATIVE DESIGNATED BY THE DIRECTOR OF THE WORLD TRADE DEPARTMENT WITH FULL RESPONSIBn..ITY FOR ALL FINANCIAL, PHYSICAL, LEGAL AND INSURANCE ISSUES CONCERNING THE 820 ROOM HOTEL MANAGED BY Hn.. TON INTERNATIONAL AND OWNED BY THE PORT AUTIlORfIY. THE HOTEL IS AN INTEGRAL PART OF THE 10 MILLION SQUARE FOOT WORLD TRADE CENTER COMPLEX. Group Director, International Business Development Group 1985-1989 Assistant Director, XPORT Trading Company 1982-1985 INTERNATIONAL PROTEINS CORPORATION, FAIRFIELD, N.J. Assistant to the President, 1981-1982 "',_... ~.e. ~ t.,\" 40 SKILLS & ACHIEVEMENTS Negotiations and Asset Management ~d negotiations that financially restructured the management agreement for the Vista Hotel and lay the groundwork for a $30 million renovation, enhanced ownership rights, and an innovative perfonnance measurement program. Negotiated an agreement with Hilton International generating an additional $6 million for the renovation through a refinancing of the underlying mortgage. Chair of the Steering Committee, which on a monthly basis is a owner/management forum to review financial and operational perfonnance, capital projects, and strategic direction of the hotel as well as annually review and approve budget, market and business plans. Project Manage~nt Oversee the $60 plus million renovation/restoration of the hotel. Prior to Port Authority take-over of construction, acted as program manager for the restoration/renovation efforts at the hotel. Suuctured a team of leading hospitality consultants for services covering valuation, asset management, strategic analysis and insurance support for the hotel. Disaster Management During and after the bombing of the World Trade Center, handled all emergency relief, press relations, and personnel issues requiring coordination between Hilton International and the Port Authority. Spearheaded the multi-million business interruption and property damage claim for both the Vista Hotel and Windows on the World. Manage and negotiate with various teams consisting of consultants, internal and external legal counsel. as well as a myriad of adjusters, re-insurers, and retrocessionaires and corporate directors of Hilton International and the Port Authority. International Ventures . Negotiated an $8 million equity joint venture with Ross Bicycles and Shearson ~hman Brothers in the People's Republic of China. . Assembled and managed a team that successfully won a World Bank $16 million bid for dredging equipment to the government of Colombia. . Awarded an architecture and engineering consulting contract for the Port's Aviation Depart.Jmnt to assist the design of the $5 billion Kansai airport. Professional Activities Feature Speaker at: . NYUs 15th AnnIud HDSpitali9' lrulllStry "lJIestmmt Omjerm<< GeorgetoWn University lAw Center's ResCJIi~ the Hotel in Distress Ctmferenee An Ernst & Young Partner Symposium New York Exuutive Women i1l HO$1'it4/ity forum Teaching Adv_d ClUe Studies Oass at New York University's Master of Science in Tourism and Travel Management degree program in Fall of 1994. Guest lecturer at Cornell University's School of Hotel Administration. Published a series of articles relating to crisis management and the World Trade Center bombing for Lodging Hospitality magazine. Completed Hotel Development and Acquisitions and Hotel Valuation courses at NYUs Real Estate Institute. r: 4.... i.' ~ Similarities between the Miami Project and Port Authority Responsibilities . Negotiate on behalf of an owner which is a public entity . Negotiate financial agreements, management contracts, and on-going ground lease issues . Negotiate and financially structure major capital expenditures and renovations . Protect the long term asset value of the investment . Work environment Vista Hotel Profile: Location: World Trade Center, part ofa 10 million square foot commercial complex Size: 820 rooms~ 22 stories . Sales: Pre-blast maximum of $50+Million in annual sales Managment Company: Hilton International Ground Lease: Port Authority Leaseholder: 1981: W exler&RosslChicago~ 1982 Kuo HotelslSingapore~ 1989 Port Authority Hotel Chronology .l212.. . Port Authority develops the hotel through a ground lease with developer and a hotel operator under a management agreement establishing the first hotel in lower Manhattan in over 100 years. The Port gains 50% of the net cashflow as ground rent. l2ll . The hotel opens under a 40 year management contract with Hilton International. Hilton also gains exclusive right to operate food and beverage outlets in the World Trade Center. 1987 . Hilton International acquired by AllegislUnited from TW A 1m . Ladbrokes of the U.K. acquires ill from Allegis m2 . The Port purchases the leasehold for strategic reasons from Kuo Hotels for $78 million after Kuo becomes embroiled in dispute with Hilton. ~ Appointed Owner's Representative to protect and enhance the asset value of the investment. ~ Convince the Executive Director to pull a $15 million Board resolution to conduct a renovation. Recognized: _ drastically changing market environment required a new strategic approach including substantial capital investment and refurbishment in all areas. _ existing business arrangement generated an insufficient return to justify the level of capital investment required. .'1- 42 t.," 1990 . Terminated the management agreement with Hilton International after concluding that Ill's interest in the U.S. was to maintain gateways to its large international overseas hotels rather than developing assets in the U.S. and that service levels, marketing, and maintenance were being cut in the face of revenue declines. . Guided legal staff on resulting litigation. .l22.l . Led negotiations to restructure the management which resulted in new financial structure drastically improving the return on the asset . $15 million capital for a renovation program . Enhanced ownership rights (Steering Committee) . Devised an innovative program of performance standards tied to termination rights 1222- . Conceived of a re-financing arrangement with the CFO to generate an additional $6 million for an enhancement to the renovation. Generated financial analysis to justify the capital improvement and negotiated a management agreement supplement with Ill. .l.22l . After the bombing of the WTC, fully responsible for the disaster recovery, crisis management and the business interruption and property insurance claims for the Vista. . Negotiated three letters of memorandum with Hilton covering the financial disposition of the claims. . Negotiated the early tennination of the Windows on the World lease. 1m . Persuaded the Executive Director and the Board to allow P A take-over the renovation and restoration construction efforts handled by ill at the hotel. . Involved in strategic and financial discussions regarding long term disposition of the hotel asset with Executive Director, CFO and other P A Directors. . Negotiated a $4.4 million settlement with insurance adjusters for lost profits for a 13 month closure period Highlights of the 1992 Restructured Management Agreement _ Mortgage and Reserves are a first charge against Operating Profits _ Hilton advances $15 million for renovation . _ Reserves raised to 6% of gross revenues _ Hilton stands aside its incentive fee for 10 years _ Hilton subordinates its base management fee to debt service _ Hilton assumes responsibility for Budget Scope and Schedule for Renovation Project _ Hilton gives Port Authority Budget, Marketing, Business, and Capital Plan approval _ Hilton agrees to measurable and enforceable performance standards. '" r 43 Reprinted from Lodging Hospitality, July 1994 issue GIRDING FOR DISASTER The lessens of the Vista Hotel bombing. In January, Lodging Hospi- tality published Michael Meyer's eyewitness ac- count of the 1993 bombing of the New York Vista Ho- tel. Here, Meyer trains his sights on prevention, Few professionals and businesspeo- ple would be so irresponsible as to not prepare a will that covers the financial and emotional needs of their families in case of a personal tragedy. But I suspect that few professionals and businesspeople have prepared an emer- gency plan for their businesses or assets in the event of a disaster. When disaster strikes, inadequate or incomplete preparation becomes pain- fully evident-and costly. These hard lessons came clear in the immediate af- termath of the February 26, 1993 bomb- ing of New York's World Trade Center, when the staff of the adjacent Vista Hotel reacted heroically to a very daunting sit- l,Iation. The hotel evacuated everyone in less than 10 minutes and, miraculously, did not sustain a single fatality. Nevertheless, certain employees and guests could not be accounted for. Loss of the facility's main telephone switch made it impossible to communi- cate with management and arrange emergency recovery services. Cellular phones could have fetched thousands of dollars apiece that day. BY MICHAEL MEYER - Drawings illustrating how the hotel was built were not easily accessible, cre- ating confusion among the rescue teams. The major exit from the basement through the garage could not be used because of smoke. Staff had to snake its way through the labyrinth below the ground of the World Trade Center. The blast occurred during winter, rob- bing the building of water, telephone service and heat. That put the 21-story hotel in danger of freezing, bursting pipes and potentially creating millions of dollars in additional damage. Disasters are unex- pected, but good planning can have an enormous impact and help curb dam- age. What would you do if your property suddenly lost elec- tricity, heat, water or phone? Loss of these services, which we take for granted, quickly reduces exis- tence to a fairly prim- itive level. I strongly suggest that hotel owners and opera- tors take time to de- velop a disaster re- covery plan. I offer the following sugges- tions: V Make sure that building drawings are available in the lobby area. As an added precaution, keep a separate set of copies of drawings of the as-built facility off-site. In addition, create a check-in procedure to account for all staff and guests. This should include a back-up site nearby for registration and emer- gency operations; staff and help desks should be positioned near that site. A telephone recording directing callers to emergency assistance should be ready to answer the main hotel phone number. "'We were fortunate to be in the mid- dle of a multimillion-dollar renovation when disaster struck, so the construction manager and general contractor, who were on-site, be- gan emergency re- pairs immediately. When this isn't the case, it makes sense for the hotel engineer to de- velop relationships with contractors and vendors in ad- vance by soliciting bids for potential services. Be sure to keep phone num- bers handy, includ- ing home numbers, if possible. VCritical finan- cial and opera- tional data stored on computer disk should be backed up and stored off- site. Arrange back- up computer ser- vice so necessary financial transac- tions can be pro- .'~_... . 44 cessed. Computers are the neFYe center of hotel operations, so lack of back-up resources after a disaster can severely hinder your ability to secure standby fi- nancing from banks or insurers. Off-site storage ap.d work areas also are critical for a skeleton staff to run a maintenance operation. vDon't overlook the need to main- tain effective communication with the press. Don't shortchange your public-re- lations efforts. Experts in crisis management say those preparing a disaster recovery plan should consider worst-case scenarios for natural, accidental and deliberate inci- dents. Train and test for the disasters by talking through the plan, walking through the facility on notice and then walking through it without notice. I would like to add some personal comments on the training aspects of dis- aster planning. You should protect against people like me, who tune out during fire drills, by requiring staff to pass a written test. For example, I didn't know where the fire stairwells were and mistakenly walked into the smoke-filled core of the trade center. Staff should be required to know back-up locations; report-in procedures; the hotel's emergency telephone num- ber; and escape routes. A certification program in disaster re- sponse, requiring periodic, written re- certification by means of a written test, should be created for all employees. The ability to stage unannounced tests poses problems for the hospitality indus- try. I suggest conducting disaster exer- cises during slow periods, when an area can be blocked off for that purpose. Training is one field deserving scrutiny. Another is insurance. Before the bombing, I viewed insur- ance as I viewed tax policy: It was a ne- cessity, but the details bored me, and I was happy to find professional support available when necessary. My view on insurance has changed; I have been consumed, even over- whelmed, by insurance issues. I am dealing with four major consulting firms, three different internal departments, Hilton International (the hotel's manage- ment company), Hilton International's executive staff in London and various insurance adjusters. Here are some basic questions to con- sider: ~ Do you know whether you carry business interruption insurance on your property? ~ Do you know whether the policy protects you up to the point of re- opening, to the point of restoration of prior business levels, or to the point of projected business levels? ~Do you know the indemnity period on the policy? ~Does your policy allow for interim payments? Property (or property and damage) in- surance covers physical assets that are harmed or destroyed. Typically, these policies cover replacement cost for both real property (such as the building and its systems) and personal prop- erty (furniture, computers, ete.). This is analogous to homeowners' insurance. Business in- terruption in- surance, on the other hand, cov- ers continuing costs and lost profits of a disas- ter-impaired busi- ness. Such policies can be complex because they re- quire formulae for establishing loss and the definitions of continuing expenses. Also, considerable subjectivity is involved in projecting business levels that might have existed had disaster not intervened; the longer and greater the disrup- tion, the higher the de- gree of subjectivity. The fact that hotels of- ten are owned by one en- tity and managed by an- other can lead to confusion; owners must protect both their property and their in- vestment, so they need both property insurance and busi- ness interruption coverage. Management companies, on the other hand, are concerned with pro- tecting profits they derive from a prop- erty they run but do not own, so they need business interruption coverage. Many chains provide a benefit to own- ers, procuring property insurance at a lower cost by adding it to their purchase of a business interruption policy. In such cases, owner and management company frequently are named "co-insureds" on the policy, potentially clouding delin- eation of each party's interests and re- sponsibilities. Following is a list of critical insurance issues for checking and review: """Confirm that you have business in- terruption insurance. vDetermine who is responsible for buying, and submitting claims for, prop- erty insurance and business interruption coverage. vDetermine if insurance procedures comply with the requirements of the ex- isting lease, mortgage and management agreement. ~J.a/tJ f. ':::;;;~ oj/.~ ~'t~J'!:: 2.. ~~"tF- ~~ 3.J/aD8 ~ ~~ Ii.~~ vDetermine who is responsible for restor- ing the property in the event of a loss. vMake sure you have copies of the insurance policy or policies in your pos- session. vReview the policy limit levels annu- ally. Do the same for the indemnity pe- riod of your business-interruption pol- icy. vEstablish an insurance emergency command team now. vDevelop a protocol with adjusters to expedite the processing of claims. vTry to get the adjusters to agree on your plans for reconstruction, as well as the money you'll need during shut- down. vKeep logs for all correspondence and oral communicati~ LH I 45 Copyright @ 1994 by Penton Publishing, Inc., Cleveland, Ohio 44114 THE ACCOUN.T, 1 ! l j '! 1 j j It was shortly after noon last February 26 when an enormous explosion shook the World Trade Center (WfC) in lower Manhattan. I and a law- yer were sitting on the 36th floor of the complex discussing a consultant con- tract for the New York Vista Hotel. When the explosion hit, I looked out of the windows of the west side of the building and saw the skin of the Ameri- can Express building across the street in the World Financial Center shake and ripple, A puff of smoke rose from the parking ramps below, but I saw no other sign of disturbance. I scoffed at the suggestion a bomb had burst. Only nuclear bombs were that powerful, I said, assuming something had happened in the Port Authority Trans Hudson (PATH) rail line that ter- minates below the trade center. When I walked to the north side of the building to peer at the hotel below, I saw smoke billowing and noticed that firefighting vehicles had arrived. A blood-stained body was seen on a ramp heading to the trade center's under- ground parking lot. When I ran to get my coat on the 35th floor, I saw smoke coming from the cen- tral corridor servicing the elevators. I rushed into the corridor, only to find it so full of smoke that I could not see my hand in front of my face. I retreated to my office, eventually making my way to one of the two stair- . wells that run up the center tower. It was jammed with people and strangely quiet. I thought I should go up rather than down, but since movement was slow, I decided to go with the crowd. When I encountered a woman in a wheelchair who works on our floor, I re- lieved one of the men carrying her. But the weight of woman and chair impeded the flow of people; I was separated from the woman in the wheelchair later, THE CONTEXT, The explosion drove through six stories of the World Trade Center. when I and some other people went to the other end of the building with its less smoke-infested stairwell. The smoke thickened as we neared the bottom floor, but nobody was pan- icking, because at this point, lights were still on and there was movement indicat- ing evacuation going on below. Near the 10th floor, we encountered firemen making their way up the stairs, adminis- tering oxygen to people. Perhaps the most frightening aspect of the evacuation was that when we fi- nally reached the lobby, the smoke was so thick that if there had not been a line of police with flashlights, I might never have found the front door. I'm sure I wasn't the only one talking to himself to stay calm. About an hour after the explosion, THE LESSON people were being led to ambulances. I ran to the Vista and was relieved to learn that the building had been evacuated in the first 10 minutes. A room-to-room search failed to turn up any bodies, but we were told that a woman was trapped in the underground parking lot. She was rescued several hours later. West Street, meanwhile, was clogged by hundreds of emergency vehicles. At a rescue staging area set up on the street, I learned that the cause of the explosion remained unknown. Overloaded emergency channels made communication between rescuers difficult. Radio stations were broadcast- ing all sorts of misinformation about bombings and fires, based on communi- cation with people in the tower. As I stood on the street, I heard muffled pinging sounds: glass fragments hitting the pavement from windows smashed by trapped office workers. Helicopters were flying overhead and dozens of re- porters were amassing. Inside the lobby of the Vista was total mayhem. A fire chief grabbed me and asked for help in gaining access to the trade center itself through the Vista base- ment within the trade center subgrade. The hotel engineer went to get the building drawings. He and his staff had narrowly escaped death when they ran from their offices through smoke and just missed plunging through a gaping hole in the slab just outside their door. A s evening fell, the bodies of four .L1.Port Authority workers were discov- ered, removed through the Vista lobby and placed in a makeshift morgue in a section of the hotel lobby. Leaking fire hoses flooded the lobby, where scores of police and firemen were gathered. Meanwhile, Port Authority staff converged with city officials and rescue agency personnel in the Vista ballroom. ,.... 46 ( realized we would need to feed these people, so I contacted the. general manager of a nearby Marriott, who was extraordinarily supportive. I dispatched a crew to the Marriott to bring back all the food that hotel could offer; in spite of several planned weekend functions, the Marriott gave us all the food we needed. I also requested the Marriott re- serve as many rooms as possible for us. At the same time, Vista staff was trying to cope with its own problems. At a nearby street comer, hotel officials were trying to figure out the staff count, but some employees were missing and it would be days before we knew whether they were dead or alive. Some guests were diverted to other hotels. Many, however, were strandt::d because they had lost their belongings in the Vista and had no other means of support. These guests, along with key Vista staff, were booked into the Hotel Millenium across the street. Late that evening, engineers appre- hensive about the structural integrity of the hotel told us to evacuate the ball- room immediately. Plans were drawn up to begin bracing the overstressed columns the very next day. Since the Marriott had only a limited number of rooms, I doubled up Port Au- thority staff and contractors. I also ar- ranged a meeting room where the Vista's executive director could hold the first of more than 30 news conferences in the morning. At about 1 a.m., I finally took a shower (one of three needed to get the smoke off my skin) and caught a few hours' sleep. Early next morning, the Port Authority held its first news conference. Re- porters wanted to know particulars of the disaster: what it was, who was re- !",.w_~-.., "_""'. ,:-.:,:i:~~, --,. The blast ripped up the floor of a reception room known as the Liberty Room. sponsible, how it happened, why backup systems failed, when the trade center's Twin Towers would reopen, when PATH would run again, what ac- tion the Authority was taking. Major ten- ants pressed to know when they could regain access to offices and whether they could return to work on Monday. Separately, hotel officials faced similar questions from staff and guests: When would the hotel reopen? When could guests retrieve property from their rooms and cars from the garage? Should staff report to work? The initial response was reassuring. Officials expressed hope that operations in the towers could be restored within rnro weeks, and in the hotel, a few days. But within 48 hours, it became clear that the extensive destruction would necessi- The intense heat underground affected an area half the size of a football field. ....:.:.>.-. -' '. tate a herculean effort involving thou- sands of workers and, perhaps, hun- dreds of millions of dollars. Incredibly, within three weeks, on March 18, Tower Two reopened, and on March 29, Tower One began reoccupancy. The hotel was less fortunate, Disaster recovery would be prolonged by dam- age to the floor slabs around and be- neath the Vista. These problems could not be tackled until the contiguous areas were fixed. In addition, the mechanical equipment room housing vital hotel sys- tems would have to be rebuilt. Within two weeks, Hilton Interna- tional was forced to indefinitely layoff approximately 550 Vista workers and 350 from Windows on the World-the only people the blast threw out of work. And, while the World Trade Center had an enormous property claim resulting from the blast, the hotel's business inter- ruption claim was far more complex. Renovation of the hotel's public areas, slated to begin in early 1993, now had to incorporate a reconstruction of the facil- ity. Due to reopen this spring, the Vista will have a new exterior, a three-story enhancement to the entrance and a grand lobby with sweeping staircase and cascading waterfalls. For those of us working on restoration of the Vista, life did not return to normal last April 1, when the trade center tow- ers resumed normal operation. We re- main absorbed by insurance and union issues, reconstruction problems and marketing the reopening of the hotel. LH Micbael Meyer is tbe owners represen- tativefor tbe New York Vista Hotel. A graduate of Harvard Business Scbool and Oberlin College, be bas been pro- gram manager for the Vista's recovery since tbe bombing. ",._ , 47 INSIDE TRADE CENTER CITY Think of the World Trade Center (WTC) ~ a city rather than a build- ing. Its towers sit astride a complex of 12 million square feet that covers eight city blocks. It was created by the Port Au- thority more than 20 years ago. Approximately 50,000 people work within the wrC. It has been estimated that nearly 70,000 visit it, and thousands more commute to it, daily. The seven-building complex houses the VISta Hotel, the New Yark Mercantile Exchange, the New York Cotton Ex- change and the Coffee, Sugar and Cocoo Exchange, as well as the Comex, or commodities exchange, and dozens of stores. Below gtound are six subgrade levels, including the Port Authority Trans Hudson, or PAm, rail terminal, as well as sev'~ cri.sscrossing subway lines and statiorlS; truck bays; massive mechanical ....systems .and utility connections; and . . parkU:lg for viSitors and tenants. .. . Wb~ it opened in 1981, the VISta was ~ttf1e fust hotel <teveloped in~er Man- ~. battan in 100 years. The P()1't'Authority, which has a ~Iease for the prop- erty, ~Icquiredthe;teasehold interest in 1989 as paI1()f:{a strategic plan to rede- velop thetr3<ie'center. Hilton Interna- dona! manages tbeVlSta. ~ hotel ~~l~ories, 820 rooms and~IO,OOO ~;~,xus. It also con- outer wall of the WfC's north tower. Ex- ploding with the force of 1,500 pounds of dynamite, it tore through the parking garage, blasting the B-2 slab and tons of other debris down three levels to land atop giant air-conditioning chillers. The force of the explosion broke through the floor of the Vista's Liberty Room, blew out walls over the PATH turnStile mezzanine and penetrated five elevator shafts in the north tower, allow- ing smoke from the basement fires to rise through the towers. The blast carved out a cavern, 120 feet wide at some points, from the Vista ground floor down through five sub- grade floors. Although they were at op- posite ends of the blast area and sepa- rated by three floors, the main electric lines and emergency power generators were disabled. Also knocked out: the building command center and systems .;J-or communicating with people in the "towers. On the &,1 level.. the blast destroyed locker r()()ms. and~ perstIDnefioffice. the cornmissaty,killing the four Port Au- This level was. extensive!ydaiDagedby thoritj w6rkCJ;Sand crippling the police the bomb. Miraculously, nQt . thE: 'cOmmand.~.In addition. the 3,700- estimated '130. hotel . crt400'clegreeheat:'~e.bomb ~ted .bf1rst guests on h<<>tel' . '. " . 'ofcius.~~a~l>gra~fueiil~g thebl3st~)dlted." .... ". . 200 snpPlj:s m a Cortfiiled ~lex.sixpeople~,areaha~ " ;&-:i:~field.:;~:,>i' Authority operations peJsonnel; . ." The '.' . ~on. to prun,ary InterIlational employee and. ~wrc<Visi'- and . .'. ... .... . .. '.. .lJtility and~~sys- tor. Another 1,000 wereinjured,...ma.in.It . ...~,,~l<>tigWitllinjurie.st~'opera~g from smoke inbalatioa ... ........ .' .<.>statr~~nt thatemergemj\~cuat:iOJl The bomb went o!f~aramp at~' ';'in ." . often ~~.~~ nofl,e 'B-2.levclbetweeri'lbe:Vlstaan4~;' ... " ;.< ..... ;';;,J':<~:i:,;t.:,;,;:\U tains three restaurants and an executive fitness center on the top floor. A pre- function space complements the large ballroom, and a reception room called the Liberty Room sits two stories above the site of the explosion. The basement, or B-1 level, contains the parking lot; the hotel's principal me- chanical equipment room; the engineer area; the laundry room; purchasing and receiving; housekeeping; a cafeteria, The towers of the World Trade Center . hover over the VIsta Hotel, at center. CRIItIN&.....cLAIlf[Y AMID CONFUSION D i1iasters create both crisis and op- portunity;;and the fate of a com- pany or individual depends on the re- sponse. Thf' first 48 hours following the World Trade Center bombing were critical, es- sentially determining whether we would receive positive or negative coverage as well as political support. The Port Authority has been ap- plauded for its crisis management fol- 10wil1lg the bombing. It also benefits from a newly educated public, now less likely to confuse the Authority with city or state agencies. Several factors con- tributc:d to our success. One of the most critical decisions was to allow the press aCCesli to the blast site and to the emer- gency command center set up overnight. This allowed the world to see the magni- bJde of the problem-and the response. A second important decision was to ".,:";":,~,;;;,/;.:>::f~.."F',' <,' ,', ' ":"',:~n;~-1;:<>:':<:""":>:",:":'d'~/;f-i~~g7:~::' hoktaaily neWs conferences at.it a.m.. a primary news-~~time."I'hisal- lowed us to establish credibility with worldwide preSs as the key ~.()f in- formation aboutthe.~.'t'"";;,.' . . The immediate f~!:\;Y~,. to eStablish critical points' about tbeboi:nbiJ1g. Al- though there was tremendoUs Confusion in the aftermath, we affmned that the tower buildings remained structurally sound and loss of life, though tragic, was limited. The explosion had de:uly been caused by some external force; An important aspect of my job was to coordinate press management between the Port Authority and Hilton Interna- tional. Here are some observations: . Prior to a crisis that brings press rep- resentatives to your hotel, select three management representatives as key spokespeople. Go over each scenario, try to anticipate how best to handle it and develop the appropriate response. . Select two people for each situation; one can handle the event in case the other is unavailable. Identify resources to call upon in a crisis. Many lodging :~/';',:':}~". .~, ',j' ,,~>: }:~;::;.~~rfrli': ~~t~a; . 'largeP\1blicr~.', lations firm, but there can bean advaJltage to avoidillg the use of slick out- siders who arouse suspi- don or leave re- porters cold. . During the crisis, face prob- Meyer: Don't lie, end lems directly be understandable. and as quickly as possible. · Do not lie. Be natural, and talk in un- derstandable tenos. . Give out as much information as possible, get the facts straight and be prepared to answer questions. . Assess areas over which you have control and ones others should oversee. Detennine what constituencies you must communicate with-and how to do that. Consult key players before public state- ments are made or actions are taken. II Copyright c 1993 by Penton Publishing, Inc., Cleveland, Ohio 44114 J';- I 48 OFFICE OF THE CITY ATTORNEY ~ ifJlUum; 1/mM F L o R o A CITY ATTORNEY p. 0 BOX 0 MIAMI BEACH, FLORIDA 33119-2032 TELEPHONE (305) 673-7470 TELECOPY (305) 673-7002 LAURENCE FEINGOLD COMMISSION MEMORANDUM NO. ~ DATE: OCTOBER 5, 1994 TO: FROM: MAYOR SEYMOUR GELBER MEMBERS OF THE CITY COMMISSION ROGER M. CARLTON, CITY MANAGER LAURENCE FEINGOLD \0 ~~ /) ~ CITY ATTORNEY '"J~~ ~ ~ LACK OF CONFLICT OF INTEREST REGARDING TISHMAN HOTEL CORPORATION SUBJECT: Tishman Hotel Corporation ("Tishman") has completed the disclosure questionnaire that my office sent to them on September 26, 1994. Attached hereto is Tishman's completed disclosure questionnaire, along with a letter attachment that they have sent. As you can see from the letter, Tishman does not have any current affiliation with Loews Hotels, Inc. ("Loews"), Forest City Ratner Companies ("Forest City") or HCF Group, Inc. ("HCF"). Although Tishman has certain affiliations with ITT Sheraton Corporation, it is my opinion that these affiliations would not affect Tishman's role in the hotel project. Accordingly, I recommend that, based on the disclosure questionnaire and Tishman's response thereto, the Mayor and City Commission waive any potential conflict of interest that may exist with regard to Tishman's representation of the City in the Loews/Forest City and HCF hotel projects. LF:mr Attachment 43 AGENDA~R 1 -~ - n ITEM - at- DATE \ 0 - 5- CL4- 1700 CONVENTION CENTER DRIVE - FOURTH FLOOR - MIAMI BEACH, FLORIDA 33139 10/03/94 15:13 FAX 212 262 0037 TI SIlMAN ~002 OFFICE OF THE CITY ATTORNEY ~ tlJ1I;omi~ F L o R D It. CITY ATTORNEY (I P.O. BOX 0 MIAMI BEACH. FLORIDA 33119-2032 TELEPHONE (305) 873-7470 TELECO"V (305) 673-7002 LAURENCE FEINGOLD September 26. 1994 Mr. Tom Arasi Tishman Hotel Corporation 666 Fifth Avenue 38th Floor New York, NY 10103-0256 RE: DlSCWSURE QUESTIONNAIRE Dear Tom: As you know, the Miami Beach City Commission has selected Tishman Hotel Corporation ("TJShmanft) to act as financial negotiator with regard to the hotel projects, subject to negotiating an acceptable fee and resolution of any conflict of interest issues. In order to ensure that Tishman does not have any actual or perceived conflicts of interest with any individual or entity involved in the proc:ess, and to further insure full and complete disclosure regarding this project, we are aliking Tishman to complete the attached Disclosure Questionnaire. My office has compiled a list of all individuals and entities whose names appear in and who are associated with the Loews and Sheraton proposals, That list is attached hereto as Exhibit II A. II For purposes of this Disclosure Questionnaire, the following definitions apply: "Relative" is defined as any finher, mother, son, dal.1ghter,lu.1sband, wife, father-in-law, mother-in-law, son-in-law, daugbtel'-in-Iaw, brother-in-law, sister-in-law, brother, sister, uncle, aunt, first cousin, nephew, niece, step-mother. step-father, step-son, step-daughter, step-brother. step- sister, half-brother or half-sister. "Business entity. is defined as any corporation, partnership, limited partnership, proprietorship, firm., enterprise, franchi~ association, self-employed individual, or trust, whether fictitiously named or not, or any other form of entity. ,.. t 50 17nt'1 /""("\NVFNTION CENTER DRIVE - FOURTH FLOOR - MIAMI BEACH, FLORIDA 33139 10/03/94 15:14 FAX 212 262 0037 TI SIDlAN 141 003 Mr. Tom Arasi Tisbman Hotel Corporation Page 2 September 26> 1994 "You" and "your" refer to Tisbman Hotel Corporation and all of its principals and shareholders. as well as all employees ofTishman Hotel Corporation who will be working OD this project. Please complete the auaChed Disclosure Questionnaire and return it to the City Attorney's Office. If you ba'le any questions, please contact me at (305) 673-7470. v cry trUly,y.oli,? ...., / ,/ ,/ / i~" ~/ \ ~ ~1If3/ tiURENCE FEINGoLV City Attorney A1T1ks cc: Roger M. Carlton City Manager Harry Mavrogenes Asst. City Manager (c:;\wpdoca~I\1JI9-2&.Itr) r- 51 _ __ ____ ..........0 ~"IIQT'" 1=1 nOR _ MIAMI BEACH. FLOR\DA 33139 10/03/94 15:14 F.~ 212 262 0037 TI SIDIAN ~oo.. DISCLOSURE OUESTlONNAIRE 1. Have you. individually or in cOIUlcction with any business entity, been directly or indirectly associated with any person or bm:in~~ entity or had any interest in any business entity listed in Exhibit n A"7 If so, list the individual or business entity and describe your association or interest. Yes, please see the attached letter from Linda Christensen, dated .October 3, 1994. -,:, 2. Have any of your relatives., individually or in connection with any business entity, been directly or indirectly associated with any person or business entity or had any interest in any business entity listed in Exhibit "AI'? If so, list the individual or business entity and descnoe their association or interest. No. 5'; ,.;., 10103/94 15:14 FAX 212 262 0037 TI SIlMAN ~005 3. Describe any relationship you or your relatives have. or had in the past, with any of the following individuals: Mayor Seymour Gelber Commissioner Sy Eisenberg Commissioner Susan Gottlieb Commissioner Neisen Kasdin Commissioner Nancy Liebman Commissioner David Pearlson Commissioner Martin Shapiro City Manager Roger Carlton Assistant City Managers Mayra ButtaCavoli Harry Mavrogenes Dean ~e1ke Joe Pinon City Attorney Laurence Feingold Chief Deputy City Attorney John Dellagloria Assistant City Attorneys Valencia Abner Raul J. Aguila Martha Diaz Yolanda Gasalla Rebecca Henderson Ke1li V. Myers Jean Olin Donald M. Papy Sheri J. Sack Sandra W. Schneider Alexander I. Tacbmes Debora 1. Turner Judith L. Weinstein None. 53 10/03/94 15:14 FAX 212 262 0037 TI SIlMAN ~006 4. List any other information which may be relevant to an actual or perceived conflict of interest. None. x ~~. Thomas AraS1 . Executive vice President, Finance and Development Tishman Hotel corporation ';1' 51 10/03/94 15:15 FAX 212 262 0037 TI SIDlAN 141 OOi LOEWS HOTELS, INC. SL Moritz Botel Corp. Loewt Botels.IDC. aoben J, Housman Jonalhan M. Tisch PteStOD Raben TISCh Jack S. Adler Charlotte St. Marlin Karen Jordan Marc Shapiro Marcia Rubin Andrew Myers Thomas smith Belaine Aronson WID<< Harry Talbot Vmcent DunlCl'Y)' Sheila Robinson Alan 1lo8c: Marian Succoso RA. Hanmm John Tbacker Sbenic Laver-om Michael frcadl . t.aurence A. Tisch Charles D. BcneDsoD John Bredenw Bernard Myenoa Edward 1. Noba Lester Po11ack Gloria Il. Sc:ott Andrew R Tisch James S. Tasc:b Kameth Abrams Gary W. Garson Robert J, Hausman Barty Hirsch Herbert C. Hofman Jobn J. Kenny Guy A. Kwaa Jolm Q, MaJiDo Stuart B. Opotowsky Richard E. PiIusa Roy E. Posner Dennis Smith .. CNA IDlu.....ce Danil CbOOqaoriaa Lon1Jud Tobacco Comp...,. BuJcwa Corp. Diamond M-Odeco Drilling. lac.. 55 Robert Rose . -'-" EXHIBIT aAa 10/03/94 15:15 FAX 212 262 0037 TI SIlMAN taJ 008 Fortlt City Samuel R Miller NaIhaD Shabn Albert B. RalDet Cbarlea A 1tatner Roaa1d A. Ratner ThomaS G, Smith Gmes AE. Stucker William M. WIITCft Allan C. Kru1aIc D, LaytOn McCown Minu A MoDcheiD Lawrence YISbmaD Warren :K. Ornstein Charles L Pitcock Scott S. Cowen JerryV. Jamtt Brian J. Rabler JIUIICS A. Rainer Max Ratner Hany O. Scbloss. Jr. Nathan Sbaftm J Maurice StnJChen Forest Cit)' East Co~ lAc. Forest City Land DiYiiioD-SuDrUe Laud Company Robert F. MoncbeiD Silver Lakes Sewn Bridges Ethan's Green Summit Park Stone River and Shawver " ionst City ReDtal Propcrtia Corp. Abc Gelber Forest City Eaterprises, lac. Foral City Raideatial Development, lac. Forest 0.,. rm..a Corporatioa GDIes A. B. Studtcr Forat City Tndiac Group-IDe.. Milan Stoymov Forest Oty Commercial CoDStnldiOD Company, IJIc. Glen Moenich Forest CitJ Maule.eat-lDe. Abe Gdba' Malk A. Randal Jack R.. Kuhn Forest Cit)' Propcrda Carporatioa Steven P. Alben 56 10/03/94 15:15 FAX 212 262 0037 TI SIlMAN Forat City RaIDer Compaa)' Broce Ratner Max Ratner paul Travis James twncr WiRiam Wal1acc IV Kevin Mc:CaDn lloben CanceDiere Robert Sanna Jobo Noms Michad D. Daly Samuel Miller Albert Ratner Bankers Trust COlDpaD' Gany Qarrabroat Bruce Habis creeaberl TraDriC Manin Rosen eeatu RooDe)" CODstnlctioD Compall)' n_c:ra ConstnlctioD Md)evitt Street Boyil Morse Diesel zyscovicla. IDe. Bernard Zyseovidl. Archit~ -Savillo & Mm. DelIip Studio Barry Miller WiIsoD a AJaociatCSt IDterior Design Trisba Wilson JDDanI ColISultallU Randall HiIIiatd - 'lftIS (l'lidloll BrtJICII SaDduval A Aaaociatcs, 1Dc.) Jobo R. N'1CIda Bruce Brosch Gregory Sandoval Andrea Cyr Anne Jacbway Jose Suarez Ralph Egut10r CodiDa Develop..t Corp. AnPando CodiDa JOhllSOD " BiggiDI Joseph S1wkey 141 009 r- I 5'7 10/03/94 15:15 FAX 212 262 0037 . . The BO GrooP.IDC. Marvin Holloway Peter CaIin EugCfte Ford. Jr, Jerry Bailey Hospitality Valuadon Servica Thomas O'Neill Michael R.osenblatt rrr Shcratoa Corp. David Procb-WdsoD rrr Corp. SheratoD operating Corp. ShentoD I'ralKbise Corporatioll Sheratoa )Iud, lac. Sbentoa Swtcl SUiaer & Associates, lae. Yaromir Steiner Patricia Curry Banqoe Bouse John Gerui Michael Maxwell John Porges Alan Pareira VOA Associates, 1Dc. Marc Van Steenlandt CaMn. R Peck 'J1leodore G. Fery Robb W. Chapin lADe Pettigrew Wood J(arp ICobi Karp TI SHMA..~ I4J 010 SHERATON '. Zack, B.--." Poace. Tucker, Kelp A GilleSP~ P .A. McDevitt Street HovIs, Jac. Metric Coastnacton. lac. Tamer COllltnadlon Compa., Royal hl.. Botel .Arthur S. Unger Sborecrest Hotel Cyrus Mebr RCF Corporate AcadCIIIJ Paul Lambert r-c V~ 10/03/94 13:25 FAX 212 262 0037 TI SIlMAN IaI 002 Tishman Hotel Corporation October 3, 1994 Laurence Feingold, Esq. City Attorney City of :Miami Beach 1700 Convention Center Drive Miami Beach, Florida 33139 Re: .Miami Beach Convention Center Project DearMr, Feingold: As General Counsel ofTishman Hotel Corporation, I have been asked to determine whether any conflict of interest or potential conflict of interest exists between Tishman Hotel Corporation ("Tishman") and any of the parties involved in the Miami Beach Convention Center Project (the "Project"). After having reviewed our records and discussed several associations which we have had with several of the entities involved in the Project. it is my opinion that there is no existing conflict of interest OT any real potential for substantive conflict of interest betWeen Tishman and any of the entities involved in the Project. As you know, ilie developer which has been chosen for development of the Project is a joint venture composed ofLoews Hotel. Inc. (or an affiliate) ("Loews"] and Forest City Ratner Companies (or an affiliate) rFCR"]. The City of Miami Beach has also selected HCF Group, Inc. to develop an Afro-American owned hotel to serve the Convention Center which will be managed by ITT Sheraton Corporation ("Sheraton"). It is our understanding that Wilson & Associates and Johnson &. Higgins will also be involved with the Project in some manner. We have had some involvement with each of these parties other than ReF Group, Inc. Our contact with these parties has been limited to the following: }, Wilson &. Associates - Tishman is part of the owning entity of the Walt Disney World Dolphin and Swan hotels which used the services of Wilson & Associates in the design of these properties. 2. Johnson &. Higgins - Along with other insurance brokers, Tishman has used the services of . Johnson &. Higgins in its various business activities. 3, Sheraton - Tisbman has the following involvements with Sheraton: a.. Tishman is a partner in the owning entity of two hotels managed by Sheraton -- the Walt Disney World Dolphin and the Sheraton Chicago Hotel &. Towers. b. Tishman represents the Owner of the Sheraton Meadowlands in New Jersey as Asset Manager. 59 Tj~hman Hotel COfPOradon 666 Fifth Avenue. New York. NY 10103 (212) 399- 3600 F-dx (212) 397.1316 10/03/94 13:26 FAX 212 262 0037 TI SHllAN ~003 Sheraton is purely hotel operator in these hotels and has no ownership position. c. As part of its negotiated deal to become operator of the Hotd, Sheraton made a working capital loan to the ownership entity of the Chicago Sheraton (of which Tishman is pan). This working capital loan is currently expected to be repaid at the end of this year aooording to the Owner's projections and is not an unusual provision in an Operating and Management Agreement. Since Tishman, in both of its roles as Owner and Asset Manager for the Walt Disney World Dolphin, the Chicago Sheraton and the Sheraton Meadowlands, has always been in the position of negotiating for the OWner rather than Sheraton, its negotiations with Sheraton on behalf of the City of Miami Beach would be no different. Therefore, I see no real potential for conOict as a result of these contacts with Sheraton. d. Tishman acts in a different role as Development Manager and Construction Manager for a Sheraton-affiliate concerning a project in development in Europe. In this role, Tishman was retained by the Sheraton-affiliate to represent it in the development and construction of this hotel. Tishman is purely a fee developer for the Sheraton affiliate and has no ownership position in the hotel. Since this project has not heen formally armounced by Sheraton. it is necessary that this information be retained in confidence. M a result of Tishman' s various roles in the hotel and construction industries, many times it has been as opposite ends of the table with a party whom it previously represented on a different deal. This was the case with Sheraton. In connection with the Hotels at which Tishman was either an Owner or an Asset Manager, it has been required to negotiate aggressively against Sheraton. Sheraton, nevertheless, did not hesitate to retain Tishman to act as Development Manager/Construction Manager for the Hotel Project in Eastem Europe which I mentioned above. 4. Forest City Ratner - In the past, Tisbman completed two interiors installations for tenants in Forest City Ratner-developed buildings. 5. Loews --Tishman's only past interaction with Loews occum:d when a Tishman entity was hired by a private Chicago company (Aerie Hotels & Resorts, Inc.) as its development consultant. to perform certain development and pre-constru.ction services for a convention hotel to be built on land adjacent to the newly expanded McCormick Place Convention Center. Among its services for Aerie, Tishman' s job was to identify several potential hotel franchise organizations for consideration by Aerie--among them Loews. Aerie, not Tishman. selected Loews. Thereafter, Aerie requested that Tishman assist in negotiating an affiliation arrangement between Loews and Aerie. Tishman's role in connection with negotiating the association agreement involved negotiating against Loews on Aerie's behalf to obtain the most favorable arrangement for Aerie. Currently, the Aerie proposal is one of many being considered for selection by tbe landwner. After having considered the nature and extent ofTishman's relationships with the above- referenced entities, I do not identifY any situation which constitutes a conflict of interest for Tishman in COIUlection with the Project. 60 10/03/94 13:26 FAX 212 262 0037 II SIlMAN raJ 004 If you would like fUrther infonnation with regard to any of the above-referenced items. please feel free to call me. Very truly yours, TISHMAN HOTEL CORPORATION dJtL Linda Christensen General Counsel ------ . lie 61