Agenda Packets - 1989/09/11 - Laserfiche WebLink

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00, WILBUR F. DORN. Jr. "ROBERT EDWARDS WILLIAM J. KEYES 'LLOYD S. MYSTER C f 'KROFCSSIONAL CORPoN1Ti0149 May 5, 1989 Mr. Don Pauly City Administrator City of Moundsview 2401 Highway 10 Moundsview, Minnesota Dear Mr. Pauly: DORN LAW FIRM, LTD. 300 EAST MAIN STREET SUITE 300 ANOKA. MINNESOTA 55303 TELEPHONE 1612) 427-5903 FAX 1512) 427-E1752 55112 Pursuant to our recent telephone conversation, I enclose herewith several drawings, including a building elevation, site plan, landscaping plan and perimeter diagram, for a project to be known as Marsh Park Professional Offices. The following narrative describes the proposal, and it is hoped that you could bring this to the attention of the Moundsview City Council to ascertain whether or not municipal assistance in the form of tax increment financing might be available. THE PROJECT The project consists of two 25,000 square foot office buildings, to be built in two phases. The site is located on the south side of Trunk Highway No. 10 near Silver Lake Road. The land area comprises approximately eight acres, and we are presently contemplating a commercial planned unit development designed to phase construction of the two buildings, creating a four- acre wetland preserve. The site is somewhat difficult and substantial soils corrections would be needed. We believe, however, that the site does lend itself well to a tax increment project, and is the type of land which will not, in fact, develop at all if some form of cost write -down is not available. We therefor believe that it is ideally suited for tax increment financing. II. COSTS AND DEVELOPMENT SCHEDULE We anticipate that the project, when completed, would, combining land and buildings, produce a fair market value 'CIVIL TRIAL SPECIALIST CERTIFIED 01 THE MINNESOTA STATE BAR ASSOCIATION