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WAL-MART BRIEFING DOCUMENT June 8, 2004 1. The discount retail anchor at Silver Lake Village will be Wal-Mart. The developer selected the retailer. - Robert Muir Co., one of the developer partners, handled the negotiations; the city does not select who will be in the development. - It is estimated that Wal-Mart will employ some 250 people at the Silver Lake Village location. 2. (New) For information about Wal=Mart's employment practices, community services, educational grants and other locations in Minnesota,visit the Wal-Mart web site at www.walmart.com. - Wal-Mart has nearly 60 stores in Minnesota, employing more than 16,400 workers. In fiscal 2002, the company paid$96 million in sales taxes and $24 million in state and local taxes. - At its annual meeting on June 4, Wal-Mart described its commitment over the last year to be a corporate leader in employment practices (see news release on web site). - In May; Wal-Mart recognized educators with its local "Teacher of the Year"Program, one of the largest teacher recognition efforts in the country. Through the program, Wal-Mart will give back $4.3 million this year to schools of winning teachers, with $63,000 designated for Minnesota. 3. Without a discount retail anchor, this project would not be financially feasible. Because there will be a discount retail anchor, the redevelopment effort is moving forward and the property is not stagnant. Over 500 new jobs will be created, St. Anthony is expected to grow from its current 8,000 to more than 10,500 with the new housing, a park area will be developed between the retail and housing, and Silver Lake Village will be a source of community pride. -Demolition of the obsolete Apache Plaza is underway and will be completed soon. - Construction of the retail will begin this summer and be finalized in 2005. - The new 39`x' Avenue NE will be completed this summer. - There will be 219,300 square feet of new retail shopping to serve both the neighborhood and the entire community. 4. The Silver Lake Village development was approved as a Planned Unit Development (PUD) last fall. An important and integral part of the PUD zoning was the incorporation of a Design Framework Manual into the zoning approval process. The Manual establishes the expectation that there will be high quality design throughout the project. - The design of the Wal-Mart store will be consistent with all the design requirements contained in the Design Framework Manual.