ITEM 5.02 - Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers.
On September 30th, 2022, the Board of Directors of the Company appointed Mr.
Michael Zink as a Director, joining the current Board of Directors.
Additionally, Mr. Garfield Antonio, our former CEO has stepped down from his CEO
as well as President's role. Our current COO Ms. Lara Fritts has been appointed
to the CEO position, and Richard Balles, current Director has been appointed as
President of the Company.
Lara Fritts, 51, is a certified Economic developer with over 25 years of
experience in economic development, on both city and regional levels and to date
has initiated six public-private corporations. Ms. Fritts was Director of Salt
Lake City's Dept. of Economic Development where she oversaw three separate
government divisions. In three years she brought more than 30 new companies to
the city, including UPS, Amazon, and others totaling over 9,000 new jobs and
nearly one billion dollars in capital investment. Additionally, she helped
deploy nearly 44 million dollars into affordable housing, creating over 3,500
units throughout the city. Ms. Fritts is a known speaker on community
revitalization, real estate and economic development finance. Ms. Frits has a BS
in Regional Analysis from University of Wisconsin, Green Bay (1993) and an MS in
Urban Studies from University of Wisconsin, Milwaukee (1995).
Michael Zink, 39, brings years of asset management and financing experience, as
both CFO and Managing Director of several companies in the construction,
financial services, government contracting, private equity and real estate
industries. Michael's strengths particular to the Company are his experiences
and knowledge in quarterly real estate valuations, REIT testing, and valuation
methodologies with regard to various real estate types. Michael is a recipient
of the DCA Live 40 under 40 Rising Stars in Real Estate. He also holds a
Bachelor of Science in Business Administration from Bucknell University, 2005.
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