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-: -- ANTHONY PROPERTIES Real Estate Development&Investment 12770 Coit Road,Sults 1170 • Dallas,Texas 75251 • (972)991-4484 • Pax(972)991-4494 October 26, 1998 Mr. Chuck Whiting VIA: Fax City Administrator City of Mounds View 2401 Highway 10 Mounds View, MN 55112 RE: Sale of city land at the northeast corner of new Edgewood Drive and Highway 10 Dear Chuck, Approximately a year ago, WendeII Smith met with you and Rick Topke. As part of that meeting, ' he discussed with you my desire to make an offer for the vacant city land that will be created with the realignment of Edgewood Drive. In that meeting, it was discussed that it was the position of the city that this land would be zoned office and a Request for Proposals would be sent out by city staff I have learned through Wendell that TOLD Development has made an offer to purchase this land and that it will be discussed at the next City Council meeting, tonight. It is also my understanding that they wish to put in a Walgreens and perhaps a restaurant which is a retail zoning. As I made my intentions to purchase this property known to you almost a year ago, and was told M• on this property. • We are presently negotiating with TOLD Development to put a Walgreens on our site at the corner of Long Lake Road and Highway 10. This land is in the PUD as retail. I would think that the city would want to have all land that is presently zoned retail developed before creating more retail land. We have worked with the city for over three years in getting the theatre project under way. At the present time, the theatre is under construction and we are doing the working drawings for our first office building, so that we can begin construction in the spring. I believe that our working relationship with the city has been a positive one and we wish to continue working on projects in Mounds View.