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6126360183 EVEREST GROUP 597 P02 SEP 30 '97 17:08 <br /> IP <br /> THE EVEREST GROUP LTD <br /> September 30, 1997 <br /> Ms. Cathy Bennett <br /> Director Economic Development <br /> CITY OF MOUNDS VIEW <br /> 2401 Highway 10 <br /> Mounds View, MN 55112-1499 <br /> Dear Ms. Bennett: <br /> I am writing in reply to your letter dated September 26, 1997, which we received today. io <br /> You are correct in stating that The Everest Group does not agree with your park <br /> dedication fee calculation of $56,771.00, as set forth in your prior correspondence of <br /> September 3, 1997. <br /> We believe your calculation of the fee is improper under City Ordinance Section <br /> 1204.02, and inconsistent with the City's application of its park dedication ordinance to <br /> several other similar re-subdivisions of commercial/industrial land. We also disagree <br /> with your characterization that "in previous correspondences the City determined that <br /> the park dedication fee for the resubdivision of the land for Building N amounts to <br /> approximately $57,000.00." Staff offered a position on calculation of the park <br /> dedication fee. Under your ordinance, the City Council, which has not yet taken <br /> action on this matter, determines the park dedication fee. <br /> Notwithstanding our disagreement with staffs position as described above, we are <br /> interested in finalizing the Building N Development Assistance Agreement, and <br /> reluctantly agree to payment of a park dedication fee in the amount of $56,771.00, <br /> conditioned on the following: <br /> 1. Approval of the Development Assistance Agreement in the form <br /> presented at the August 25, 1997, EDA meeting, but with a substantial <br /> completion date of 12/31/02 in Section 3.4(c); <br /> 2. The $56,771.00 cash park dedication fee is to be paid in full at the time of <br /> execution and recording of the plat for Mounds View Business Park East <br /> 2nd Addition; <br /> 2665 Long Lake Road <br />