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March 14, 2000 Mr. Paul Malone Liberty Check Printers 5267 Program Avenue Mounds View, Minnesota 55112 Dear Paul: On behalf of the City of Mounds View, we would like to take this opportunity to highlight potential development sites that could conceivably meet your needs. Regardless of your future location decision, we would like to thank Liberty for being a good corporate citizen and valued member of the community. Based on the criteria specified in the letter sent by the Tegra Group, we believe that two viable options exist for Liberty to stay in Mounds View. Both options build upon Liberty's current facilities and future needs. First, there is a nine -acre parcel of property located near your current facilities off of Highway 10. The parcel in questions is located between the existing Multi -Tech facility and the Saturn Dealership. As you can see on the enclosed map of the Mounds View Business Park, this site is just to the Northwest of your current manufacturing facility. At this point, the site is owned by Multi -Tech and is not currently being marketed. Please note that I made certain assumptions beyond what is provided in the Tegra letter. The attached spreadsheet delineates those assumptions. Second, Liberty could maintain their existing facilities in Mounds View and take advantage of vacancies in adjacent buildings. Admittedly, the leasing opportunities that are currently available do not directly coincide with the needs outlined in the Tegra letter. However, Liberty's current facilities taken in conjunction with current and future vacancies is a potential option. Presently, Griffin Companies is marketing 40,000 square feet of office at 5267 Program Avenue. In addition, there are several industrial/warehouse buildings that are being marketed. We have enclosed copies of information for the properties currently being marketed in the Mounds View Business Park for your reference. As an existing business park, a majority of the infrastructure is in place to accommodate Liberty's consolidation. The aforementioned properties are part of a planned unit development, and are currently serviced, or capable of being serviced with utilities. It is expected/planned that fiber optic service will be available along Highway 10 in the near future. A variety of options exist for development finance assistance. The Mounds View Business Park is currently within a tax increment district, and increment has provided gap financing for a majority of the buildings within the district. We appreciate the opportunity to provide options for Liberty Check to stay within Mounds View. If you have any questions, or require additional information please feel free to contact us at the numbers below. Thank you for your time and consideration. Sincerely, Rick Jopke Aaron Parrish Community Development Director Economic Development Coordinator (612) 717-4021 (612) 717-4029