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( � <br /> February 16, 1995 ` _;� �� - `': 4, T LTD <br /> Jerry Linke, President <br /> • Samantha Orduno, Executive Director • <br /> MOUNDS VIEW ECONOMIC <br /> DEVELOPMENT AUTHORITY <br /> 2401 Highway 10 <br /> Mounds View, MN 55112 <br /> Re: Tax Increment Financing Request <br /> Proposed Building N, Mounds View Business Park Fast Addition <br /> Dear Jerry, Samantha and EDA Members: <br /> In June, 1994, Everest and the Mounds View EDA finalized Development Assistance <br /> Agreements for the C.G. Hill & Sons, Inc., project and the Multi-Tech Systems, Inc., <br /> expansion project. We are pleased to report that both the C.G. Hill and Multi-Tech <br /> projects were successfully completed by January 1, 1995, and will, therefore, begin <br /> generating real estate taxes and tax increment reflecting the completed buildings as of <br /> 1996. <br /> In July of 1994, Everest also made a request for pay-as-you-go TIF assistance for <br /> proposed Building N,.a 103,000 square foot office/industrial building proposed for the <br /> 6.89-acre site fronting on Program Avenue, south of the Clinch-On building. <br /> Subsequently, Everest obtained site plan, rezoning, and subdivision approvals for the <br /> Building N project. <br /> While the EDA expressed support and conceptual approval of the requested TIF <br /> assistance for the Building N project, a Development Assistance Agreement was not <br /> finalized between Everest and the EDA because the EDA preferred to wait until an <br /> owner/occupant or anchor tenant for the project was secured. We continue to work at <br /> securing an owner/occupant or anchor tenant and are confident that we will be <br /> successful in that endeavor. <br />