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northwest Essociated cores- kLants, inc. <br />Mr. Jeff Gardner <br />Gardner Bros. <br />450 East County Road D <br />Little Canada, MN 55117 <br />RE: TIF Project Status <br />FILE NO: 758.09 - 88.21 <br />Dear Mr. Gardner: <br />5 1983 <br />C ;it O <br />LITTLE CANADA �. <br />I am writing to bring you up to date on the activities <br />surrounding your tax increment project. I met with Joe Chlebeck, <br />the City Clerk, again on Monday to discus the City's TIF policies <br />and how they apply to your project. <br />Dave Heller of your staff called me Tuesday with the cost of <br />improvements you are seeking assistance for. At that time, we <br />discussed the City's willingness to assist your project, but it <br />must be tied to the proposed three story office building that you <br />have recently put on hold. Dave said that was his understanding <br />from our July 26, 1988 meeting. <br />The City will reimburse you for the approximate $127,000 worth of <br />site improvements but only if the office building is also built <br />within the next two years. The amount of reimbursement or <br />assistance to be provided will be directly dependent upon your <br />projects ability to generate sufficient revenues or tax <br />increment. The assistance would be paid annually as the taxes <br />are collected. This is the "pay as your go" method we discussed <br />at City Hall. <br />I will present your project to Little Canada's Economic <br />Development Committee on August 10, 1988 at 7:30 AM. You may <br />choose to attend, but it isn't necessary. The group is advisory <br />in nature and is aware of your project. They will make a <br />recommendation to the City Council. <br />The Council will consider the project at its August 24, 1988 <br />meeting at 7:30 PM. You should plan on being present at that <br />meeting. <br />Page 66 <br />4601 excelsior blvd., ste. 410, minneapolis, mn 55416 (61 2) 925 -9420 <br />