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<br /> STATE OF MINNESOTA ) <br /> ) ss. AFFIDAVIT OF DENNIS FOSTER <br /> COUNTY OF RAMSEY ) <br /> . <br /> Dennis Foster being first duly sworn on oath deposes and <br /> sta.tes: <br /> My name is Dennis Foster and I am the developer of What-A- <br /> Racquet sports CoUrt, Inc., proposed to be built in Arden Hills <br /> on Lexington Avenue North. <br /> In December of 1990, I received approval for a site plan <br /> from the City of Arden Hills city Council. The approval <br /> contained six enumerated stipulations that I had to comply with <br /> prior to the issuance of a building permit. All six items 1: was, <br /> and still am confident can be satisfied. The only reason I did <br /> not immediately proceed with the project was that I had not yet <br /> received a financing commitment from a lender. <br /> . From December of 1990 until April of 1992, I approached <br /> nearly three hundred financial institutions; including commercial <br /> banks , savings and loans, pension funds, insurance companies, <br /> priva.te lenders, consortiums, and brokers. I fully believed that <br /> the site plan approval given in December of 1990 was still valid <br /> until December 1991. In discussions prior to that approval in <br /> December of 1990, I had spoken with the city on numerous <br /> occasions, and there were a number of small issues that We <br /> negotiated Or modified on the original site plan to take care of <br /> various concerns, but it was always a matter of fine tuning the <br /> proposed site layout. There was never any discussion or <br /> indication that the city may d:i$approve the entire conce.pt. It <br /> . Was simply a :matter of conforming to the regulations and concerns <br /> of the City employees. <br /> ---- <br />