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[City's Letterhead] <br />tir. Richard Nadeau <br />Minnesota Energy and Economic ` <br />Development Authority <br />9th Floor <br />American Center Building <br />150 East Kellogg Boulevard <br />St. Paul, Minnesota 55101 <br />Re: City of Mounds View - $400,000 Commercial <br />Development Revenue Bonds (Kinder -Care <br />Learning Centers, Inc. Project) <br />Dear Mr. Nadeau: <br />Attached hereto in duplicate is the application of <br />the City of Mounds View for approval of the above referenced <br />project (the "Project") including a copy of the Preliminary <br />Resolution adopted by the City Council. <br />As indicated in the attached Preliminary Resolution, <br />we believe that this Project fully meets the public purpose <br />requirements of Minnesota Statutes, Chapter 474. In <br />particular, this Project will accomplish an e::pansior. of the <br />community's tax base by addition of facilities worth more than <br />$400,000 and will provide our citizens with immediate access to <br />greatly needed child learning and day-care facilities. <br />Employment from the Project should result in up to 10 <br />employees. Finally, we believe that the Project will serve the <br />interests of the community by diversifying the commercial base <br />and would help to dampen the severity of any general economic <br />downturns. <br />Reference is made to the Preliminary Resolution for a <br />more definitive statement of the public purposes served by the <br />financing. <br />The Project does not contain any property to be sold <br />or affixed or consumed in the production of property for sale, <br />and does not include any housing facility to be rented or used <br />as a permanent residence. <br />The City has complied with the notice and hearing <br />requirements of Minnesota Statutes, Section 474.01, as amended, <br />N <br />