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Northwest Associated Consultants, Inc. <br />U R B A N P L A N N I N G D E S I G N M A R K E T R E S E A R C H <br />December 6, 1989 <br />Mr. Nick noosalis <br />SB Real Estate Services <br />P.O. Box 1482 <br />Minneapolis, MN 55440 -1482 <br />RE: <br />FILE NO: <br />Dear Nick: <br />Little Canada - Rice at C Center. Phase II <br />758.09 - 89.19 <br />It has been brought to my attention that the commercial center <br />upon which the Tax Increment Financing agreements were based has <br />changed in scope, particularly with relation to the Rapid Oil <br />Change. This is of concern to the City as the Tax Increment <br />generated from the commercial center needs to support a certain <br />level of public improvements in the residential area, and it is <br />upon development of the residential area which the Council based <br />its approval of both the Planned Unit Development and the use of <br />Tax Increment Financing. <br />In an attempt to respond to your lessee's requirements, we have <br />issued building permits for the commercial center prior to the <br />point where many projects would have proceeded. Requirements for <br />approved final plat, signed development agreements and Watershed <br />approvals (among others) are all still pending, yet the <br />commercial building is largely complete and it is .my <br />understanding you will ask the City Council for "temporary <br />occupancy" prior to the resolution of all issues. This is of <br />particular concern since the Certificate of Occupancy is the <br />security which the City has been holding to ensure completion of <br />all the details. <br />4601 Excelsior Blvd. • Suite 410 • Mingeaoolis. MN 55416 • (612) 925 -9420 • Fax 925 -2721 <br />p g 22 <br />