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REFERENCE CHECK STUART CORPORATION City of Eagan, Jim Sturm, Community Development Stuart Corp. has been excellent to deal with. Project was not senior housing project. Their project is well leased, very well maintained, and management is good. No problems at all. No city financial assistance involved. Wish other developers were as good. Very thorough. After 4 years the project looks as good as the day it was built. Pleasure to deal with. City of St. Paul, Tom Beach, Community Development Stuart Corp. has nice looking buildings. Average to deal with. Sometimes has to request information a few times before it was received. Not terrible, but not the most responsive. Overall the project looks good. Dick Amey, Director of Inspections Stuart has the wherewithall to do what they say they are going to do. They are a rather large corporation. Have been around a long time. No adverse relationship with St. Paul. They do a project they are committed —to. However, will protect their rights. WilCnot bend to something just because they are asked. Will want to know why, and will negotiate. City of Hopkins, Jim Corrigan, Community Development The project is market rate rental housing, not senior housing. They were professional, know their job, fairly easy to deal with, cooperative. The quality of the project was good. Overall Stuart Corp. has a lot of units around. City issued a taxable housing bond, and the rumor is that Stuart is in default on this bond. It may be that a lot of multiple housing developers are having problems right now due to the economy. Stuart proposed another project in the City, however, the Council went with another developer because that developer was proposing owner- occupied housing, and Stuart was proposing rental units. Otherwise, the Council would probably have gone with Stuart again. Page 11