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October 25, 2004 <br /> Mr. Chris Enger <br /> Ryland Homes Twin Cities Division <br /> 7600 Executive Drive <br /> Eden Prairie, MN 55344 <br /> Subject: Ryland's Preferred Developer Status <br /> Dear Mr. Enger: <br /> In light of the New Hope Economic Development Authority's(EDA) decision not to go forward with <br /> Winnetka Green Phase 3, I want to inform you the New Hope EDA is still intending to work with <br /> Ryland Homes as a preferred housing developer for the Phase One City Center Development at the <br /> southeast corner of 42nd and Winnetka avenues for a one-year period per the Phase 3 Term Sheet. <br /> Ryland's performance on the development of Winnetka Green has exceeded all expectations. We also <br /> understand Ryland expended considerable time, resources, and funds in anticipation of the EDA's <br /> approval of the Phase 3 development. The concerns expressed by the adjacent neighborhood to the Phase <br /> 3 development regrettably caused the EDA to forego the Phase 3 development. Its decision was <br /> unrelated to Ryland's performance on Winnetka Green Phases 1 and 2. <br /> The city has not changed its support for Ryland as a preferred housing developer for a portion of the <br /> Phase One City Center Development as stated in the Phase 3 Term Sheet. If the redevelopment of City <br /> Center is retained by the New Hope EDA as a viable project in 2005, 1 will recommend to the EDA that it <br /> formally approve Ryland as a preferred housing developer for the Phase One City Center Development <br /> for a one-year period per the Winnetka Green Phase 3 Term Sheet. <br /> Rest assured, the New Hope EDA values its relationship with Ryland Homes. Thank you for Ryland's <br /> investment in the future of New Hope. We look forward to continuing our relationship with you and <br /> Ryland Homes. <br /> Sincerely, <br /> Daniel J. Donahue <br /> City Manager/Executive Director <br /> City of New Hope and New Hope EDA <br /> CITY OF NEW HOPE <br /> 4401 Xylon Avenue North•New Hope,Minnesota 55428-4898•www. ci.new-hope.mn.us <br /> City Hall:763-531-5100•Police(non-emergency):763-531-5170•Public Works: 763-592-6777•TDD: 763-531-5109 <br /> City Hall Fax: 763-531-5136•Police Fax: 763-531-5174 •Public Works Fax: 763-592-6776 <br />