Disbursements to MPDP

The Community Maritime Park Associates has disbursed to the master developer, Maritime Park Development Partners, $303,273.10 of their development fee (budget $1,386,077). The checks cover the $35,000 advance due when the contract was signed and expenses incurred from August-December 2009 – over the first five months 22 percent of the development costs have been disbursed. Through a public records request, the IN received copies of the MPDP invoices. Here is how the expenses are broken out:

Personnel Costs
Mark White: $64,617.78
Scott Davison: $85,004.19
Jeff Galt: $18,000.00
Corporate Administrative: $35,446.19
Total Personnel Costs: $203,068.16

General Expenses
Advertising – Billboard: $3,880.00
Courses & Training: $1,285.00
Insurance: $23,145.47
Legal Fees: $1,185.00
Licenses, fees, permits: $243.75
Misc Admin. Exp: $1,230.72
Office supplies: $2,461.60
Overnight courier: $302.52
Phones: $2,889.44
Travel: $28,581.44
Total General Expenses $65,204.94

Advance – per contract: $35,000.00

Total $303,273.10