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02-05-1990 WS
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02-05-1990 WS
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MV City Council
City Council Document Type
City Council Packets
Date
2/5/1990
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• Mr. Donald F. Pauley <br /> January 15, 1990 <br /> Page Two <br /> down attributable to Building I at $704, 000. This assumes <br /> funds available for site acquisition is $1, 280, 000 as set <br /> forth in the Official Statement. Please make the <br /> appropriate adjustments if available funds differ. <br /> I would also request return of the advance to the City of <br /> $113 , 930.75 for public improvement costs upon acceptance of <br /> the Building I for purposes of tax increment funding of site <br /> acquisition costs. I would ask that this remittance be made <br /> to Everest Investments Limited Partnership, if possible. <br /> As we discussed, we will be providing you with a Letter of <br /> Credit in the sum of $250, 000 on or before February 1, 1990, <br /> which amount will be sufficient to cover funding on both <br /> Building D (Mounds View Business Park) and Building I <br /> (Mounds View Business Park South) . <br /> Please call lite after you have had an opportunity to review <br /> the foregoing. I look forward to hearing from you in the <br /> near future regarding the foregoing requests for funding. <br /> Thank you for your assistance. <br /> Ilk <br /> Very truly yours, <br /> THE EVEREST GROUP, LTD. <br /> Allan D. Anderson <br /> Vice-President of Finance <br /> Enclosures <br /> cc: Robert Deike <br /> w/enclosures <br /> ADA/j k <br /> • <br />
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