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02/02/1994 17:38 612-336-4565 MSP PAGE 05 <br /> PHMJ II <br /> Westminster and MSP intend to pursue the development of a similar <br /> senior apartment community on adjacent land once this first phase <br /> is underway. We would anticipate submitting a formal request to <br /> the city for TIF funding and PUD approval at the time the phase II <br /> proposal is ready to proceed. <br /> $ENEFIT8 To CITY <br /> The city of Mounds View will accrue a variety of benefits from its <br /> assistance to this property: <br /> 1. ) The City will convert a minimal-tax-generating vacant lot <br /> into a tax-generating asset, <br /> 2. ) The City will help provide its long-time residents on <br /> fixed-incomes an affordable rental alternative. <br /> 3. ) Seniors moving into new rental housing will free-up <br /> existing housing stock for younger residents to move-in. <br /> 4. ) Additional residents will help support nearby businesses. <br /> 5. ) Senior residents will receive an ideal location adjacent <br /> to major services. <br /> 6. ) The City of Mounds View Will receive an architecturally <br /> aesthetic structure which will communicate a quality <br /> image to the community. <br /> We hope the City of Mounds View will look favorably on the <br /> aforementioned requests. We look forward to working with you <br /> towards a successful completion of this project. <br /> Sincere ,Anikki <br /> Milo Pinkerton <br /> President <br /> cc: Joe Holmberg <br /> v11.ate: V ., • <br /> i'`'m 1. 'r JiS .11,' <br /> 11 ' �, •,- .7--',', Is :V *j,1 7 1 - 1 Y' ,1I '��...;,epf d1; r:, -.w <br /> "' ',, :kt' _ 1'I „ off. '4 .�. . ,44102',,.,.1 -,.3''{ 1441. 1.1..^`,. r ..'q :t:�';!. 'U);, <br />