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Fe6-27°98 01:09pm From-KENNEDY & GRAVEN <br />�iennec�� ; <br />, <br />r. <br />l J Ti�V�j� <br />. <br />47U PiJkbury Ccntc[ <br />2UU 5ourh Six[h S�rcct <br />Minuc'dpulis MN i5902 <br />(612) 337-9300 c�i�ph�n� <br />(Gl1) 537-9310 rn:c <br />r-mail. :�c[ysC�kc nncdy-;ravcn. com <br />Februaxy 27, I99� <br />61Z3378310 T-�25 P.02/03 F-090 <br />o���ac�c� <br />FE3 2 7 1g�8 <br />ScarT J. buccs <br />Alk�may +s1 j.sW <br />piicrc I?ial (612) 337-9260 <br />mm�d: an��� ka�neCy-giavca.ocern <br />vT�b FACSIMII.E AND REGiJd.�R MA.IL <br />Mr. �zeve Dorgan <br />Ciiy of Mound� �1icw <br />?401 Highway 10 <br />Muuzld, Vicw, MN SS112 <br />RE: R�view u� Ed}A/Preferred Builders Purcf�a��e and Redevetopment A�fe�ment <br />Dear S�eve: <br />P�r your request> ! hav� rev�ewed rhe Purchase and Redevelopment Agrzem�nt as to [he <br />Mirumum lrnprovemen�s required �o be consuucted ��ursuant to the Agreemen�. The perdnenL <br />secrioris provide as �allows: <br />1. The faurth "Wherea�" clau�e in the Pur�:hasC and Redevel�pmenc Agreement s��s <br />chat "thC Developer ro oszs to con�truct on ihe Prap�rty a 1900 sq. f�. chree bedroom <br />modi�ied two story sin�;lr family rrsidendal lioxne, in�luding two full bathrooms and a <br />rhree �ar �ardge, with an �srimat.rd mark�t vaiu� of $145,i)U0." (Emphasis added). <br />2- The definition secrion of thc Puzchasr and Redevelopment Aareement �tar�s ihat <br />"'Minimum lmprovement�' means the construcrion of a lyUU sq. fr, ehree bedroom <br />modifled two story single family rrsidCntial liom�, including iwo full bathrooms �tnd a <br />rhree car gara.ge, wirh an esrimated markes va.l�e of $I45,UUQ." Secdon 1.0(k} (emphasis <br />added). <br />3. Exhibii C�o PurchasC and Redevzlop,nent t�gre�mznt -- Houung D��elopmenc <br />and Site Crirxria notes aL Paragraph 2.d. rhat "� 3� Iwo-car atta�hed �ara�e is r�yuired." <br />(Emphasis added}. <br />As dise:u�sed, jhroe�ghout rhe Agreement rzf�rence �s made to construcrion of the Minimurn <br />Improwement� on the Propeny. A, rrview of rhr abc�v� �ro�isions leads io [he �onclusion rhat <br />they are somewhat inconsisrent as to the Nlinunum rinprovements to be consttucted pursuant ra <br />the Purchase and Redevelopmenc Agzeement. <br />Baseci on rhe abo�e, you a.sked: Is rhe Ciry obligaeed to provide a variance for chc Developer <br />SJR.39U3q <br />as72::5 -S <br />