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T <br />TOLD <br />DEVELOPMENT COMPANY <br />August 15, 1997 <br />Mr. Chuck Whiting <br />City Administrator <br />City of Mounds View <br />2401 Highway 10 <br />Mounds View, MN 55112 <br />Re: County Road I and Highway 10 <br />Dear Mr. Whiting: <br />VIA TELEFAX: (612) 784-3462 <br />& MAIL <br />TOLD Development Company is presently working with a retail c(ient to locate sites throughout the <br />Twin Cities for new store development. We are interested in inquiring the city owned property at <br />the corner of County Road I and Highway 10, in a land assembly to accommodate the needs of our <br />client. <br />While our client wishes to remain unnamed as this time, I can assure you that the use is an attractive <br />retail use, and is not associated with gasoline, automotive, fast food, or restaurant uses. I can also <br />assure you tha� we have received preliminary client approval on the site so these efforts are not <br />speculative in nature. Our client does require board approval at some point in the future, after the <br />site is under contract. <br />This particular retail use requires approximately two acres, with the need for prominent corner <br />locations. Our preliminary analysis indicates that we can assemble the land needed by utilizing the <br />city owned parcel at the corner and combining not more than three of the residential parcels, located <br />along the east side of Eastwood Road, starting at County Road I and moving northward. We will <br />be contacting those land owners over the weekend to ascertain their interest in selling their <br />properties. <br />We are interested in purchasing the City owned parcel, and City assistance only in terms of <br />approvals for our contemplated use. We will pay market rates for the land, and feel confident that <br />we can pay the City at or close to what the City paid for the City owned parcel. <br />We will have some preliminary site plans completed by Monday, August 18, and would welcome <br />the opportunity to present them to you. Thank you for your consideration in this matter. <br />Ve�ry�ly yours, <br />Ro�'t'eri'H. Cunningh <br />Vice President - Dev opment <br />RHC/klj <br />h:\boblwhiting.$ I S <br />MIIYIVEAPOLIS • MILWAUKEE • CHICAGO <br />WEDGWOOD COMMERCE CEIVTRE � 6900 Wedgwood Road, Suite 100, Maple Grove, MIV 55311 •(612) 420�9000 Fax (612) 420-7574 <br />