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. ain thon <br /> • <br /> ills e <br /> Administrative Offices <br /> 3301 Silver Lake Road, St. Anthony, Minnesota 55418-1699 <br /> (612) 789-8881 FAX (612) 781-9323 <br /> ST. ANTHONY HOUSING AND REDEVELOPMENT AUTHORITY <br /> November 19, 1999 <br /> St. Anthony Housing and Redevelopment Authority <br /> James Furseth, Property Owner <br /> Sherry Rosoff, Property Owner <br /> Re: Letter of Understanding - Hitching Post (redevelopment) <br /> The purpose of this letter is to outline the understandings reached between the parties. The <br /> parties agree to formalize these understandings and execute a Developers Agreement based on <br /> • the following business understandings: <br /> 1. The attached Master Plan prepared by Tushie Montgomery (proposed Master Plan- <br /> option 8) is acceptable to all the undersigned. <br /> 2. The City of St. Anthony (City) will provide an easement for additional shopping center <br /> parking on the frontage road right-of-way as per the attached Master Plan. <br /> 3. The Housing and Redevelopment Authority (HRA) will purchase an easement from the <br /> Property Owners for the village green as shown on the attached Master Plan. The <br /> purchase price is agreed to be $110,000.00. <br /> 4. James Furseth and Sherry Rosoff(Property Owners) will construct and maintain those <br /> improvements shown on the attached Master Plan out side of the village green easement <br /> area. <br /> 5. The Property Owners agree to construct the improvements using the same light poles, <br /> luminaries and fixtures as those to be used in the village green easement area and to use <br /> the same landscaping material as will be used in the village green easement area. <br /> 6. The HRA will hire a surveyor to determine the exact amount of land to be included in <br /> • the village green easements from the Property Owners. <br />