RPM Signs Real Estate MOU with Window Rock for New Orleans
November 22, 2005 (PRLEAP.COM) Business NewsBusiness Editors, Real Estate Editors, writers
COLUMBUS, Ohio — —RPM Ventures, LLC, a Columbus, Ohio builder, annouced that is has entered into a memorandum of understanding with Window Rock Capital Corporation, (OTC:WRKC), a real estate development company, to help finance and manage a New Orleans real estate development project with an expected $30 MM of revenues once the construction is completed.
In October 2005. RPM was officially registered as a minority contractor with the U.S. Central Contractor Registration system.
“This deal will allow us to capitalize on our newly established contacts in the region,” Tony Reynolds, Chief Managing Member of RPM said. Reynolds said RPM has a Houston business consultant and Hurricane Rita Survivor, working on the ground in the region. “He worked with Hurricane Katrina victims and survived Hurricane Rita, so he has plenty of local expertise as well as connections,” he finished.
Charles Shirley, CEO of Window Rock, stated, “We are looking forward to working cooperatively with RPM concerning the re-development and refurbishing of homes and businesses in the New Orleans area that were hurt by the devastation caused by Hurricane Katrina,” he said. “We have worked been working with RPM in Columbus, Ohio and we are pleased with their work. We foresee, as a rough estimate, building or refurbishing at least 1000 homes.” According to the American Red Cross estimates, overall, 850,791 housing units were destroyed by Hurricane’s Katrina and Rtia. “Based upon our conservative estimate, we forecast revenues from the New Orleans project heading toward $30 million USD.”
As of September 15, 2005, the U.S. had already spent $62 Billion dollars, with some estimates for all work now reaching a whopping $300 Billion! Federal disaster declarations blanketed 90,000 square miles, an area almost as large as the entire United Kingdom. Meanwhile, President Bush promised, “There is no way to imagine America without New Orleans, and this great city will rise again!”
“We are thrilled to be working with Window Rock with and after our recent Columbus deal, we have first hand knowledge they are honest and sincere about developing profitable real estate projects,” Reynolds said.
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