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Mayor Fahey <br />March 13, 1989 <br />Page Two <br />Montgomery Design and Build. Mr. Montgomery is a very well <br />respected builder based out of Eagan and again I would be happy <br />to have you review his credentials. I do not have architectural <br />drawings at this time but as soon as they are available I will <br />forward them to you. <br />During the preliminary planning we have done to date we have <br />discovered that our taxes in Little Canada will be approximately <br />$25,000 per year. At this level it is economically not feasible <br />for us to go ahead with this project. Instead of abandoning the <br />project altogether I decided to discuss this matter with Mr. <br />Pelstring. Mr. Pelstring has suggested there is a possibility <br />for a tax increment agreement. I would propose that we be <br />reimbursed $15,000 per year for the first eight years and <br />$10,000 per year for the next seven years of full taxes. This <br />would make it economically feasible for us to go ahead with the <br />project. I realize that this is a lot to ask but I do feel we <br />will be contributing alot to the community. I would appreciate <br />it if you would advise me as to what further information you may <br />need from me. <br />Thank you. <br />RJA /c en <br />enclosure <br />cc: <br />Pat Pelstring <br />Bev Scalze <br />Joe Chlebeck <br />Very truly yours, <br />rt J. A rt <br />Page 86 <br />