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4752791 P.03 <br />March 21, 1997 <br />Mr. Joel Hansen <br />Page Two <br />Lot 3 is appealing because of its size. Possibly a movie theater would be interested <br />because of the lot size and the possibility of shared parking. <br />The health groups in town have been aggressive about bringing services to the people. <br />This site might work well as a medical clinic. <br />As mentioned before, Lot 4 might work for small office buildings much like the one <br />and two story ones we have built in Wayzata. <br />I. A. Parcels to Be Developed: <br />Lots 1-4 as outlined on Exhibit l <br />B. Timing <br />Much of the timing would depend on the availability of the land. We <br />would propose to start the retail project first. <br />C. Intensity: <br />Initially, we would look at two story buildings with office on the second <br />floor. The success of the second floor would determine our approach on <br />additional second floor development. <br />Design, style, and property values can only be determined after initial <br />site plans are complete. <br />D. Role of the City: <br />We would expect the City to purchase the property and donate to the <br />development. Cost of roads, landscaping, common areas would need to <br />be discussed. <br />II. Development Partners <br />Laurent/Parks would gladly be willing to cooperate with another <br />developer. We feel there are other developer's who bring expertise in <br />specific areas to a project. This additional activity can benefit all parties <br />as the potential tenant perceives activity and commitment to a specific <br />area. <br />Page 18 <br />