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• Page Two <br /> CITY OF MOUNDS VIEW <br /> An alternative the EDA might consider to facilitate the development of the <br /> Building N project would be to blend a pay-as-you-go TIF revenue note <br /> approach with up-front reimbursement of certain project costs from the City's <br /> excess increment funds (e.g. $850,000 under a pay-as-you-go revenue note, <br /> and $435,000 from excess TIF funds). We can assure you that the Building N <br /> project will not proceed without the level of TIF commitment set forth in our initial <br /> proposal letter. <br /> Accordingly, we respectfully request that you reconsider our May 21 proposal for <br /> pay-as-you-go TIF assistance, or consider the possibility of blending pay-as- <br /> you-go and up-front TIF financing as briefly outlined above. <br /> Thank you for your consideration. <br /> Sincerely, <br /> • THE EVEREST GROUP, LTD <br /> 40:714044400., <br /> Timothy J. Nelson <br /> TJN:Ic <br /> cc: Chuck Whiting, City Administrator <br />