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3804 Oakwood Hells Pkwy <br />sults <br />Eau CIaire, WI 54701-7779 <br />January 11, 2016 <br />Mr. William Lentsch <br />6607145"' Circle North <br />Hugo, MN 55038 <br />RE: Hugo Apartments, LaValle Fields <br />Dear Bill - <br />PROPERTIES <br />(715] 631-3256 <br />Fax: (713) 831-3258 <br />www.AHMCpmperties.com <br />ARMC is a full service property management and development company headquartered in Eau Claire, <br />Wisconsin. Founded in 1971, AHMC currently manages over 3,000 multi -family units in Wisconsin, <br />Minnesota and Iowa. The majority of these units are priced to be affordable for local citizens who are at <br />or below the median income for the area. These properties are usually located in "outlying" areas <br />where the household incomes are below the average incomes in the city. These properties were <br />constructed in the 1980's and 1991 rs. <br />Over the past two years, AHMC has been in the process of transitioning from the first generation <br />owners, led by the patriarch, to the second generation that will be led by the youngest son of four <br />children. A major focus of this transition is shifting from our traditional business model to one that <br />serves a more affluent market. To this end, AHMC is implementing current state-of-the-art solutions to <br />serve a more sophisticated tenant base. We're rolling out new property management software (Yardi <br />Systems), updating our corporate website, and creating individual websites for each property that will <br />interface with the new Yard[ software to allow for features such as real-time apartment availability as <br />well as online rent payment. We are currently in the process of selling many of our older properties to <br />generate funds to reinvest into this new direction. <br />The 97 unit development in Hugo will be an exciting addition to the AHMC portfolio and meet the goal <br />of providing quality, upscale housing in a class "A" market that is currently underserved. As the <br />development consultant for AHMC, I look forward to working with you and the City on this project and <br />will be in attendance at, the Council meeting on Thursday, January 14th to answer any questions or <br />comments. <br />Sincerely, <br />Cary b <br />Deve ent Consultant <br />AHMC Properties <br />P. Amnicta 14micina Manaw.ment Cm. LLC -V <br />