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<br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />515 Little Canada Road, Little Canada, MN 55117-1600 <br />(651) 766-4029 / FAX: (651) 766-4048 <br />www.littlecanadamn.org <br /> <br />MAYOR <br />Tom Fischer <br /> <br />COUNCIL <br />Chris Kwapick <br />Teresa Miller <br />Amanda Gutierrez <br />Dave Miller <br /> <br /> <br />October 11, 2023 <br /> <br /> <br /> <br />Tradition Capital Bank <br />100 Village Center Drive, Suite 101 <br />North Oaks, MN 55127 <br /> <br /> <br />Re: Irrevocable Letter of Credit #1376 <br /> Landmark of Little Canada, LLC <br /> Gervais Woods 2nd Addition <br /> <br />Dear Tradition Capital Bank: <br /> <br />Pursuant to the terms of the development agreement the City of Little Canada has with <br />Landmark of Little Canada, LLC, you are hereby authorized to reduce the above referenced <br />Letter of Credit by $645,450. This would leave a balance on the LOC of $21,250 after <br />application of this reduction. <br /> <br />Please issue an amendment to the LOC reflecting the lower value and keeping all other terms and <br />conditions the same. <br /> <br />If you have any comments or questions after reviewing this letter, or should you need further <br />documentation, please let me know. <br /> <br />Sincerely, <br /> <br /> <br /> <br />Chris Heineman <br />City Administrator <br /> <br />cc: Nathan Fair, Jonathan Homes