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f <br />DOMIN ILM. <br />Development & Acquisition, LLC <br />May 12, 2004 <br />Mr. Joel R. Hanson <br />Administrator <br />City of Little Canada <br />515 Little Canada Road <br />Little Canada, MN 55117 -1600 <br />Re: Provinces Apartments, Little Canada, Minnesota <br />Dear Mr. Hanson: <br />On January 6, 2003, we provided written notice to the City of Little Canada that with the <br />termination of the "4(d) class rate program" effective December 31, 2003, there would be <br />insufficient funds in the escrow account to complete the installation of a sprinkler system. A <br />copy of this letter is enclosed. <br />On March 8, 2004 we provided evidence that the "4(d) class rate program" ended with a letter <br />dated February 17,2004 from Mr. Kent Smith of the Ramsey County Assessors Office. In our <br />letter, we restated our position that the situation had not changed and a significant gap existed for <br />the completion of the sprinkler system. In the letter we requested that the escrowed funds be <br />returned to the parties with interest earned. A copy of this letter is enclosed. <br />To date, we have not had any response from the City of Little Canada to our request. We <br />respectfully request that the escrow be released in accordance with Paragraph (6) of the Tax <br />Credit Usage Agreement. <br />Please call me directly with any questions or comments. My direct line is (763) 354 -5608. <br />DOMINIUMDEVELOPMENT & ACQUISITION, LLC <br />ely, <br />Di' ctor of Asset Management <br />Enclosures <br />r,\ t„ : -; <br />t r - i }/ r <br />i t. id <br />CC: David Dye, Dominium Development & Acquisitions, LLC <br />2355 Polaris Lane North Suite 100 Minneapolis, vUN2J3447 Phone 763/354 -5500 Fax 763/354 -5650 <br />.Acquisition • Development • Construction • Alanagement <br />