FLORIDA TURKISH CENTER FOUNDATION

Erkan Nur, Atilla Orkan (AI), Fuat Ornarli (PE) visited Fort Lauderdale Building Department Planning/Zoning Management office. They made a wriiten request for the evaluation of the planned use of the location as a Turk Evi. The request included a list of planned use of the location, arial picture of the building and drawings showing 3 possible layouts.

Erkan Nur and Atilla Orkan also visited office of the Tides Condominium Assocaition and asked questions about the restrictions on the usage of the subject space. The office manager's answers were encouraging.

FTAA Board of Directors elected Turk Evi Board of Trustees that included 11 individuals who received the most number of recommendations from FTAA Board of Directors, FTAA members and general public. The current list of board members can be found in "Trustees" page.

Turk Evi project team received information on a new candidate location in Coconut Creek. Turk Evi Project team members Erkan Nur and Atilla Orkan visited the location. They determined that the proposed location was approximately 100 square feet smaller, $160,000 more expensive, it had very limited number of parking spaces and it was at a less desirable location than the property under contract.

An announcement has been sent to South Florida Turkish American community and asked their help to find a Turk Evi location that is better than the location under a conditional contract. The announcement also solicited names of trustee candidates that they would recommend for the Turk Evi Board of Trustees.

FTAA president Erkan Nur completed the negotiation and signed a purchase agreement on the space. The terms of the agreement was as follows: Purchase price of $240,000; Down payment of $15,000; Closing date of August 8, 2008. Owner financing of $225,000 at 7%, with interest-only payments, with no prepayment-penalty, with a 5 year balloon. The agreement had a 30 day due-diligence period and a clause allowing an additional $10,000 discount if the loan is paid off within the 6 months after the closing.

Florida Turkish Center, Inc has been incorporated as a non-profit incorporation and registered at State of Florida.

The FTAA Board of Directors authorized FTAA president Mr. Erkan Nur to pursue the property that has been recommended by the "Turk Evi Committee".

FTAA president Erkan Nur and Turk Evi Project team members Mr. Atilla Orkan and Dr. Ziya Celik visited a 1,352 square feet space for sale located in a retail/office building at 3020 NE 32nd Avenue, Fort Lauderdale. The group felt that its excellent location, MLS listing price of $315,000, possibility of an owner-financing and the building having a 4 story public parking garage made it a very good candidate for Turk Evi. The group forwarded the information to FTAA Board of Directors for evaluation.