EFTA02428029.pdf

To: Jeffrey Epsteinueevacation©gmail.com] From: Martin Nowak Sent: Wed 3/31/2010 8:49:24 PM dear jeffrcy, here is some information from may with exact numbers. harvard told me that the discussion for extending the program should happen in may 2010. at this time we should be able show that we have sufficient funds to run the program until june 2013 (or longer). this is the time constraint. m From: "May Huang" Date: March 31, 2010 1: To: - Martin Nowak" Subject: FW: one square dear martin :) yesterday Jeffrey asked me about the owner of the one brattle square building which is: piedmont office realty trust headquartered in georgia. harvard kennedy school (ksg) has the master lease which i have never seen but you found out in early 2009 (from harvard real estate services?) that ksg is paying $65 per square foot (whereas we are paying $43.4 per square foot for 7236 sq ft). fair market rate in 2008 was $45.5 per sq ft. the ksg lease ends 31 march 2017 with a 5-year option to extend beyond 2017. the ped sublease ends 30 june 2011 with a 2-year option to extend until 30 june 2013 with written notice to ksg by 1 january 2011. fas will not allow us to sign the extension unless we prove (before 1 january 2011) that we have enough funds to last until 30 june 2013. in fiscal year 2010 (1 July 2009 — 30 june 2010) we will pay about $359,744 and in fy11 we will pay about $373,730 to ksg for rent, administrative fees, and our share of real estate taxes. this is not including electricity (about $20k per year) to nstar and 15% overhead to fas. EFTA_R1_01497359 EFTA02428029 a conservative budget of the JE gift (which we also use for mail services and other essentials) leaves about $750,000 on 30 june 2010 and about $280,000 on 30 june 2011. EFTA_R1_01497360 EFTA02428030