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4752791 <br />March 21, 1997 <br />Mr. Joel Hansen <br />Page Three <br />P. 04 <br />III. Financial Capacity <br />Laurent Parks will involve a financial partner in any project they are <br />involved with. On this project we may include different financial <br />partners or we may involve a large financial institution who would be <br />involved in the entire project. <br />IV. Conclusion <br />If the City of Canada wants to significantly change the Rice Street /Little <br />Canada Road area, it will take a strong financial commitment. This area <br />can not change one step at a time. To take on this project, a developer <br />is fighting a number of the market trends. Quality architecture and <br />construction can turn an area around but the risks need to be shared by <br />both the developers and the City. <br />We look forward to working with you further on this project in the future. Please feel <br />free to call if you have any questions on the concepts we have proposed. <br />Sincerely, <br />OLS4s- <br />John Laurent Chris Moarn <br />Partner Partner <br />Enclosures <br />Page 19 <br />