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Minutes of the Regular Meeting of Council Monday, September 25, 2017 Page 4 property for office/laboratory use, but that office/laboratory use is not a viable use for this property. _ To summarize very briefly, Michael Gatto and his company took out a listing of this property for office use in January 2009 on behalf of Sam Costanzo whose company previously owned the property. Mr. Gatto and Sam Cannata acquired an option on the property in 2010. Mr. Gatto continued his efforts to find a purchaser or tenants for the property for either medical or other office use until 2016, having failed to find any purchaser or tenant interested in using the property for office use. He entered into a contract to sell the property to Artis. Let me repeat, during the 7 years that Mr. Gatto attempted to find a purchaser or tenant for use of the property, he did not find a single purchaser or tenant. Not one. The reason for that is the office market has now had widespread use of computers which allow businesses to be operated in people's homes rather than offices and the decline in the square footage for typical offices significantly reducing the need, while the cost of new construction during the recovery from the Great Recession materially increased. An even greater change took place when larger medical facilities acquired positions of inedical practices lessening the need for the number of inedical office buildings. You are going to hear from David Hollister with respect to that and Michael Gatto is going to confirm his marketing efforts in finding a purchaser. The use of the property for a memory care facility is perfect. This property is located in residentially-zoned property in Governor's Village. Its single-story Western Reserve architectural style will harmonize with both the adjacent residential properties and Governor's Village. It will generate minimal traffic and minimal noise. There is no question there is a need for memory care facilities. Fortunately, people are living longer. I am evidence of that. Unfortunately, one out of every nine Americans, age 65 or older, has Alzheimer's. If you are over 85, one out of three Americans has Alzheimer's. Unforiunately, as the population increases in age, that is going to increase the number of people affected by Alzheimer's disease. We don't have nearly enough facilities to take care of those people. I distributed to you a marketing recap by Michael Gatto which details his efforts to market the property. If I may, he is present, I don't know whether you expected us to make a presentation or not. Council President Saponaro stated, I didn't. It's for public comment, so you can certainly make your comment, but it is limited and other people were raising their hands to come and speak. Mr. Berns stated, if I may, Michael Gatto is here, but he needs to leave, so can I ask him two questions? Council President Saponaro stated, you can ask him two questions. Mr. Berns asked, Mr. Gatto?