Laserfiche WebLink
OFFICES: <br /> AWANO a � <br /> Premier Bank zeseEBEAR <br /> VENUE <br /> MaPLEWOOD.OP,%AAVENUE <br /> 5e109 <br /> 2151 THIRD STREET•851-426-7800 661a77-7700 <br /> WHITE BEAR LAKE,MINNESOTA 55110 MEMBER FDIC <br /> 361 CENTRALAVENUE <br /> OSSEO.MN 55369 <br /> 763-483-3456 <br /> 1676 W.HQHWAV 36 <br /> ROSEVILLE.MN$5113 <br /> March 18,2009 <br /> James S. Holmes,Attorney <br /> Holmes&Associates <br /> 2 Carlson Parkway, Suite 155 <br /> Minneapolis,MN 55447 <br /> RE: TIF financing requirement on Carpenter's Restaurant,Hugo, MN <br /> Dear Jim, <br /> Premier Bank has been in discussions with Catherine Anderson and Mike Anderson <br /> regarding their plans for a new Carpenter's Restaurant on the existing site. At this time, <br /> we have not been provided with a comprehensive financing request for the project. <br /> However,the Andersons have indicated that TIF financing will be an important <br /> requirement of the project to partially off-set the high level of costs associated with site <br /> work for the project. Depending on the structure of the proposed TIF financing,Premier <br /> Bank will likely view any TIF financing as equity in the property.Because the new <br /> Carpenter's Restaurant will be an important re-development project for the City of Hugo <br /> and it appears to be within the proposed new TIF district for the City of Hugo,the <br /> Carpenter's project seems to be a natural fit for any new TIF financing offered by the <br /> City of Hugo. <br /> I am happy to discuss our potential involvement in the project with you at any time. <br /> Please call me at 651-426-7800 if you have any questions. <br /> Sincerely, <br /> Douglas A, Schultze <br /> Vice President <br /> DAS/mjk <br /> 10 <br />