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ARNOLD <br /> DEVELOPMENT <br /> Mr. Mike Morvson <br /> City Manager <br /> City of St. Anthony <br /> 3301 Sih,er Lake Road <br /> St. Anthony, MN. 55418 . <br /> Dear Mr. Mornson: <br /> I would like to request City assistance in the form of tax increment financing(TIF)to N-iably <br /> redevelop the frontage road of Old Highway 8 more specifically identified as 2926, 2930,.293 8 . <br /> and 3004 Old Highway 8. The proposed redevelopment would require the removal of three <br /> existing structures and the construction of 18 owner occupied townhouses. The proposal is <br /> described in fiuther detail by the following summary. <br /> Current Status of Property. <br /> Currently, there are three properties located at: <br /> 2938 Old Highway 8 (a 6 unit building) <br /> 3004 Old Highway 8 (a 6 unit building) <br /> 2926/2930 Old Highway 8 ( a double bungalow) <br /> I have a signed purchase agreement on all three parcels. All three of the above properties.are <br /> currently rental and are in great need of repair. Three of the above parcels are currently owned by <br /> Chester Makowske et al, the other parcel is owned by Harold and Elaine Olson. <br /> Proposed Project <br /> The proposed project uivolves the removal of the existing structures and combining all three <br /> parcels into one platted parcel with the subsequent construction of 18 owner occupied <br /> townhomes. The townhomes will be 2 bedroom, 3 bedroom and possibly 4 bedroom with the <br /> finish of the lower level walkout. Each unit will have an attached double-car garage. The <br /> townhomes will range in size from 1250 - 1800 square feet. The design will be pleasing to the <br /> surrounding neighborhood. The project is proposed to be rider construction in mid-July. <br /> Thirty-Six South Ninth Street <br /> Minneapolis, Minnesota 55402 <br /> (612) 288-0985 Fax (612) 288-0953 <br />