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411 <br /> pEAsz II <br /> Westminster and MSP intend to pursue the development of a similar <br /> seniorapartment 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 /> DIMWITS 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 /> 41O5 . ) Senior residents will receive an ideal location adjacent <br /> td 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 /> Since , <br /> t44444f <br /> Milo Pinkerton <br /> President <br /> cc: Joe Holmberg <br /> • <br /> _ „'S YA��e a, aa.. 1?�� 5 �' _=,,_'-� L: t i�S.p'�;�,, .",•�,W�. "_u.L'% vnariv},-- <br />