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| March 7, 2002
Dear Dan: I am writing to confirm a number of conversations that we have had over the last few months about acquisition of a permanent home for Charlotte Trolley. Charlotte Trolley, Inc. does want to occupy, and one day own, the Duke Power Barn at South Boulevard and Bland Street. As you know, I have been having discussion with the County and the City concerning the possibility of the County acquiring the property, and then the City acquiring it from the County with a ledger transaction, and then the City doing the upfit of the facility. I have every reason to believe that this will ultimately be successful. In the meantime, if the Historic Landmarks Commission acquires the property, and the City does the upfit, Charlotte Trolley will expect to pay rent for the facility. I believe a reasonable rent would be $3000 per month. I understand that the Historic Landmarks Commission will be taking this issue up on Monday March 11. Unfortunately, as I told you, I will be out of town and unable to attend. I hope to have other representatives of the Trolley in attendance. Please let me know if you have any questions. Very truly yours,
Charlotte Trolley, Inc.
Jeffrey J. Davis President
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