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AND uLOPMENT, INC. 4 <br />2045 Riee Sireel <br />R0. Jinx 13292 <br />St. Paid, AhV 551Li <br />6121487-3619 <br />August 12, 1986 <br />Mr. Donald F. Pauley <br />Clerk - Administrator <br />City of Mounds View <br />2401 Highway 10 <br />Mounds View, HH 55112 <br />RE: Development proposal fer approximately 60 acres of <br />property located within the City of Hounds View, !' <br />bounded generally by County Road H-2, U.S. Highway 10 <br />and Interstate Highway 35W <br />Dear Don: <br />This letter follows our conversation of Friday, August 8, 1986, <br />concerning the above -referenced project. We at JLN Development, Inc. <br />are prepared to proceed quickly to negotiate and finalize an <br />appropriate Development Agreement with the City of Mounds View. ka <br />understand that the next step is to place the matter on the City <br />Council agenda schedule of August 18, 1986, for the purpose of <br />authorizing the implementation of a Tax Increment Financing plan. <br />This letter will serve to outline the scope and nature of the <br />development we propose to undertake, and the extent of tax increment <br />financing assistance we propose that the city of Mounds View provide. <br />In general terms, we propose to develop a project consisting of the <br />following: <br />1. Four (4) office/Service Buildings with a total <br />floor area of approximately 257,000 square feet. <br />2. Six (6) Light Industrial Buildings with a total <br />floor area of approximately 514,000 square feet. <br />3. one (1) Restaurant with a total floor area of <br />approximately 4,000 square feet. <br />Total building area: 775,000 square feet. <br />Total site area: 60 acres ± <br />We believe that the City of Mounds View will benefit by the project we <br />are considering in a number of ways. The substantial size of the <br />project will provide a dramatic increase in the city's real estate tax <br />J <br />