FACTS YOU SHOULD KNOW ABOUT THE ROTUNDA BUILDING
                                                     AND
                      ROTUNDA PARTNERS I/II [aka PHIL TAGAMI]

1997/1998 






  

1998/1999

1999

2002 

Rotunda Partners I selected as developers for the Rotunda Building over four(4)bonafide experienced developers with both financial capacity and supportive references.  There are no documents indicating Rotunda Partners I were selected on the basis of the lowest responsible bidder.  None of the rejected bidders did not ask for any financial subsidy from the City/Redevelopment Agency/RDA.

Note:  Rotunda Partner I original proposal stated "that the City retains ownership of the Rotunda Building and further requested $7,500,000.00(million)dollar financial subsidy from the City/RDA.

The City/RDA sells to Rotunda Partners II the Rotunda Building for $99.00 and provides a $12,000,000.00(million)dollar loan which the principal payment is deferred for 20 years.  The 3% interest payment on the loan does not commence for 15 years from the date of issuance of the loan (essentially an interest free loan).

The Rotunda Partners II receives a second loan concurrent with the City/RDA loan.  This loan from US Bank National Association in Walnut Creek totaled $19,500,000.00(million)dollars.

Rotunda Partners II receives a third loan on the Rotunda Building from Nationwide Insurance Company for $20,000,000.00(million)dollars.  Note: Rotunda Partners II signs[10-20-99] Assignment of Rent/Lease payments. Additionally,  Rotunda Partners II are defendants in a      Federal lawsuit in Texas, involving a "ponzi-like" scheme.  See Faulkner v. Rotunda Partners II  LLC filed September, 2013.