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Page 1 of 1 <br />Hanson, Joel <br />From: Frank Dunbar [fcd_ddc @visi.com] <br />Sent: Wednesday, July 23, 2003 9:20 AM <br />To: Joel Hanson <br />Subject: Re: District 82 Building <br />Joel, <br />Pursuant your email dated July 18th and our meeting on Tuesday, we continue to explore cost saving opportunities on the site plan and within <br />the building that will reduce the TIF funds contributed to the development. Further we have preliminarily reviewed the draft of the <br />Development Agreement. The letter of credit continues to be a difficult request to the District because it lowers the mortgage amount that can <br />be provided to the building. <br />We therefore will continue to explore cost saving opportunities and attempt to maintain the high quality standards and the aggressive time line <br />to achieve this development. <br />We are in agreement on the assessed value, due to the uniqueness and the customization of the building that will be built and I have been <br />prepared to accept the $4 million value if substantiated by this county assessor. <br />Thank you for the attention that the entire staff of Little Canada has provided us during the development process. The professionalism has truly <br />been appreciated. Thank You. <br />Sincerely, <br />Frank Dunbar <br />7/23/03 <br />9 <br />