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02/23/98 MON 10:48 FAX 612 885 5969 BRASS MONROE - 4-> MOUNDS VIEW 2005 <br /> • CONCLUSION <br /> In order to obtain the desired redevelopment, the City will need to provide the Redeveloper a <br /> certain level of assistance. For the gas station/convenience store,no assistance was requested and <br /> none is provided. For the two office buildings comprising 30,000 square feet, the site costs in <br /> excess of the land value are reimbursed for a total.of$167,000. For the senior rental project,the <br /> site costs and land acquisition of$830,000 are reimbursed. Collectively these projects generate <br /> on a present value basis approximately $1.7 million dollars in tax increment and we are <br /> suggesting a combined level of assistance of approximately $1,000,000. If we can provide any <br /> further help or analysis in these matters,please give us a call. <br /> JRC/jms <br /> cc: Silverview Estates <br /> Attn: Marcel Eibensteiner <br /> Winthrop&Weinstine,P.A. <br /> Attn: Todd B. Urness <br /> G:IWPDATAWV OUNDS VIEWCORUOPKE JRC 2.DOC <br /> • <br /> I <br /> •Page 4 <br />