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HCity of <br /> ugo 14669 Fitzgerald Avenue North, Hugo,MN 55038 (651)762-6300 www.ci.hugo.mn.us <br /> August 18, 2009 <br /> Jon Rausch, Senior Vice President <br /> North Marq <br /> 3500 American Blvd W. Suite 200 <br /> Minneapolis, MN 55431 <br /> Dear Mr. Rausch, <br /> We received your offer letters to sell the Thommes and Thomas Property of 90.39 acres. The <br /> Economic Development Authority (EDA) reviewed and discussed the offers at their August 10, 2009, <br /> meeting. The EDA believes that the offer is reasonable, but the City does not have it in its budget to <br /> purchase land at this time. The EDA made a recommendation to the City Council to decline the offer <br /> to sell and asked the City Staff to continue to monitor the land and assist when needed. At their <br /> August 17, 2009, meeting the City Council decided to decline the offer as well. <br /> We will continue to reference the property as people contact the City for industrial land. The property <br /> is currently advertised on the City's website. You expressed some concern regarding development <br /> approvals and environmental reviews. Please be assured that the City's intention is to make the <br /> approval process as smooth as possible. Please feel free to contact us with any additional questions at <br /> 651-762-6300. <br /> Sincerely, <br /> Bryan Bear <br /> Executive Director of the Economic Development Authority <br /> C: Honorable Mayor and City Council <br /> Michael A. Ericson, City Administrator <br />