Laserfiche WebLink
"APR -03 -97 THU 10:53 THE WALL COMPANIES <br />FAX NO 612 333 1877 P.01 <br />Tag WALL COMPANIES 3670 ms Center, 80 South Eighth streetftdinoepoua $tanceott 86402 <br />(612) 3234663 Paz (612) 8334877 <br />FAX MEMORANDUM <br />April 3, 1997 <br />To: Mr. Joel Hanson <br />From: Jun Crockarell <br />RE: Request for Additional Information <br />Dear Mr. Hanson: <br />We are providing the following information in response to your letter of April 1: <br />1. We feel that the points mentioned in paragraph two of your letter are reasonable. <br />We are willing to proceed on this basis, with the Ong that this project uulst give <br />ns a reasonable financial return on our investment. At this point we do not have <br />adequate information to determine the impact of the public improvements that you <br />mentioned. <br />2. We are most interested in developing approximately 25,000 square feet of retail space <br />at the intersection ofLittle Canada Road and Rice Street. At $S0 per foot, we <br />estimate the value of the project at $2, 000, 000. If this 8rct phase is successful, then we <br />would anticipate construction of a second phase for an additional $2,000,000. <br />Additional phases might include up to 50,000 square feet of office or office showroom <br />that might add an additional S4,000,000 in value to the project. <br />3. The site concept for our first phase would be very similar to the concept that has been <br />produced by the City. However, we decline to produce any hard drawings at this time. <br />Page 1 <br />