BRADLEY CENTER SPORTS AND ENTERTAINMENT CORPORATION MINUTES May 24, 2001 Bradley Center 7:30 ~ 9:05 am. Directors present: James Forbes, Chairperson; Ned Bechthold, Virgis Colbert, Doug Kiel, Charles MoNeer, Ulice Payne Jr., and Essie Whitclaw. Directors exoused: Ernest Hendricks and George Whittow. Others present; David Skiles (Prosident), Steve Costello (Vice President), Gerrit Ostermick (Vice President), Kara Vandve-Hebar (Tycasurer), Chatles Henderson (General Counsel and Secretary), Michaol Burr, Sharon Cook, Jon Hammes, Craig Skiom, and Ron Walter. CALL TO ORDER Mr. Forbes called the meeting to order at 7:40 am, APPROVAL OF MINUTES Upou motion duly made by Mr, Colbert and seconded by Mr, Kicl, the Minutes of the March 20, 2001 meeting of the Bradley Conter Sports and Entertainment Corporation were approved by a unanimous vote. MILWAUKEX BUCKS AND GMC TASK FORCE Mr. Walter updated the Board on the Bucks current successfull season, noting increases in attendance and revenues, and then reviewed some of the challenging issues the Bucks expect to face in the future, Mr, Payne reported on the progress of the GMC Task Force to-date, and stated that the Hammos Company has been engaged by the Bradloy Center to evaluate the potential development opportunities and report back in 60 days, Mr, Payne then introduced Jon Hammes. Mt, Hammes addressed both the process and the project, the need to prioritize the potential improvements, and the need to identify and match up the sources and uses of funds. Hammes Company will be reviewing the potential financing options, and has engaged CSL International to assist in some of the project analysis, ‘Mr, Skiem described CSL International's experience and reviewed the status of buildings in the NBA and the additional revenue streams available in newer buildings.