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Village Properties <br /> • 2500-39th Avenue NE #230 <br /> Minneapolis, MN 55421 <br /> December 15, 1998 <br /> Mike Mornson <br /> City of St. Anthony <br /> 3300 Silver Lake Road <br /> St. Anthony, MN 55418 <br /> Dear Mike, <br /> As you know, our Company continues to own the land to the east of <br /> the Industrial Custom Products building up to the Amoco station on <br /> 37th avenue NE. About two years ago, this property was listed for <br /> sale, or as a build to suit site, with Roll Real Estate. While <br /> this listing expired over one year ago, Roll's sign remained on <br /> the property until about two weeks ago when we replaced it with <br /> our own sign. Since then,I have received three calls from parties <br /> showing interest. From this, I conclude that there probably has <br /> been other interest in the property which did not get past Roll . <br /> • Also, it is my feeling that with the recent indication of some <br /> further development at Apache and with the Amoco facility becoming <br /> a less viable business, a possible combined site at that location <br /> may attract increased interest in the near future. I will be <br /> checking with Amoco on the status of their property. <br /> As you will recall, we did soil boring tests on our land and <br /> determined that certain soil correction actions would needed for <br /> development to occur. The cost of soil correction, either in the <br /> form of excavation or building piling is estimated in the $200, 000 <br /> range. Obviously, this is in addition to normal building costs, <br /> and makes development significantly more difficult to accomplish <br /> without City assistance for soil correction. <br /> Accordingly, we request the City to continue to consider this site <br /> for involvement as development opportunities occur in the future. <br /> 7 <br /> Th Yo <br /> t <br /> • Kenneth Solie <br />