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THE WIRTH COMPANIES 615 Second Avenue South FAX(612)339-2538 <br /> Minneapolis,Minnesota 55402 (612)373-0400 IV <br /> Professional Real <br /> Estate Management <br /> &Development <br /> November 17, 2008 <br /> Kim Moore-Sykes <br /> Saint Anthony Village <br /> 3301 Silver Lake Road <br /> St. Anthony, MN 55418-1699 <br /> Re: Lot Split— St. Anthony Business Center <br /> Dear Ms. Moore-Sykes, <br /> I am writing to you as a follow up to my telephone message that I left for you in which I am <br /> attempting to obtain a lots split of the St. Anthony Business Center located at 3055 Old Highway <br /> 8 in St. Anthony, Minnesota. I have reviewed with my client the necessary zoning requirements <br /> and have discussed with him his timing and I have come to realize that under the circumstances <br /> it may be more appropriate to pursue a subdivision without platting as allowed under the City of <br /> St. Anthony Code §1500.8 Subdivision without Platting. <br /> Currently the property has no debt on it and therefore it has a"window" of opportunity to seek to <br /> split the lot so as to potentially develop another building on the site. My client anticipates that <br /> new debt will be placed on this site very shortly and therefore it is critical that the lot split be <br /> done before the new financing is in place in order to free up the vacant lot for future financing <br /> and potential development. My client would propose that the lot split be allowed under the <br /> above referenced ordinance and be put on for a hearing with the City of St. Anthony's city <br /> council before the end of the year with the requirement that no new development be allowed on <br /> the newly created parcel without the filing of a plat. This way he can proceed to place the new <br /> debt on the property and still proceed with exploring a new development on the vacant parcel. <br /> I would be able to obtain a survey rather quickly showing the proposed lot split and the proposed <br /> legal descriptions. For zoning purposes, I think my client would be agreeable to put a restriction <br /> on the deed that requires the two lots to be viewed as one for zoning purposes and I believe this <br /> would satisfy any reservations the city would have regarding compliance issues. <br /> With no new development set in stone and with the necessity to get the financing on the existing <br /> parcel as soon as possible I believe this is the situation that falls within the scope of the above <br /> mentioned code. Please call me to discuss this option further at 612-373-0430. <br /> Sincerely, <br /> David A. Lutz <br /> General Counsel <br />