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6126z6a18s Evrrc� L:rcOUP 712 P02 DEC U3 <br /> • <br /> EVEREST DEVELOPMENT Linn <br /> AMIMIIIW<11 II II IVIRISI t,Rt 8.IPIII> <br /> December 3 , 1993 <br /> Ms. Samantha Orduno • <br /> City Administrator <br /> • <br /> City of Mounds-view <br /> 2401 Highway 10 • <br /> Mounds View, MN 55112-1499 <br /> Dear Samantha-: <br /> I am' writing to advise you of the status of our development <br /> proposals for the completion of Mounds View Business Park. <br /> I regret to inform you that as of December 2 , Multi-Tech <br /> Systems, Inc. , suspended its purchase negotiations and, . <br /> accordingly the City site plan review/rezoning approval <br /> process should be halted. With Multi-Tech on hold, we are <br /> proceeding to sell Saturn additional land for their <br /> anticipated expansion. <br /> With regard to the C.G. Hill & Sons, (Building M) project, <br /> Mr. Hill has informed us that due to the lengthy and as yet <br /> unresolved negotiations concerning his development proposal, <br /> he cannot commit to move to Mounds View Business Park, and <br /> he has renewed his consideration of other facility options. <br /> For Everest's part, given the limited economics of the Hill <br /> and Building N projects under the City's proposal, we would <br /> be unable to proceed with either project without <br /> reconsiderationby theCityof-the_interest_rate_issue and a __ <br /> mutually agreeable park dedication .solution. <br /> We have not given up on our goal of successfully completing <br /> Mounds View Business Park, but it appears we will be delayed <br /> in realizing that goal. <br /> EVEREST DEVE • - E T LTD. <br /> T othy J. Nelson <br /> • <br /> TJN: lc <br /> ?6 7 - 7J /-i t_= <br /> 26i5l tmi,Lake Road <br /> rl r,..., 12 %711/1 <br />