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Balm Conslrudion Company <br />6750 FRANCE AVENUE SOUTH <br />SUITE 123 ZQ252G <br />Minneapolis, Minnesota 55435 �13 ♦` ?�(1," <br />Telephone; (612) 920.1556 G, T <br />July 24, 1984 <br />RECEIVED <br />Mounds View City Council C(F 1 <br />2e01 Highway 10 0 S yl�y (; <br />Mounds View, Mn. 55112 �_ Q; <br />Dear Council Memberss <br />Recently we have had some discussion with Steve Thatcher <br />and Steve Rose concerning a development agreement on the <br />Pinecrest land. My partner, Russ Underdahl, and I have reviewed <br />the it"a to be included in the agreement and now request that <br />you consider the following changes or additions. <br />The berm will be installed when Raymond Ave. is put in, but <br />the planting should wait until spring to allow for settling of <br />the soil. <br />A letter of credit will guarantee the first four years of <br />1 special assessments payments. We believe that all of the land will <br />be sold by then and we don't feel that we should guaratee payment <br />by the purchasers. <br />y, The park dedication fee was approved by the council in 1978 <br />at 10% of the 1977 appraisal or $1,000 per acre. We feel !list this <br />figure should be used in the agreement. In the future, when we <br />dedicate land for Wooddale Ave. there should be no park dedication <br />fee for road purposes, but only for breaking up a lot for develop_ <br />ment purposes. <br />i No other access to Highway 10 will be needed besides Raymond <br />Ave, and Wooddale Ave. <br />5• The bexm was not required in 1978 and will cost about $50,000. <br />The changes we have suggested above is a small part of that cost. <br />We want to thank the council, planning commission and city <br />officials for their cooperation in helping us to get this project <br />under nay. <br />Yours truly, <br />PINfiC P TIES <br />by <br />Partner <br />by <br />Partner <br />• <br />:7 <br />