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<br /> , ., <br /> Casserly Molzahn & Associates, Inc. <br /> . 215 South 11th Street, Suite 300 . Minneapolis. Minnesota 55403 <br /> Office (612) 342-2277 . Fax (612) 334-3382 <br /> - <br /> M E M 0 RAN DUM <br /> TO: City of Arden Hills <br /> FROM: James R. Casserly <br /> Mary E. Molzahn <br /> RE: Phase I Project Costs and Proformas <br /> for Arden Hills Business Park Redevelopment <br /> DATE: December 23, 1994 <br /> --------------------------------------- <br /> --------------------------------------- <br /> INTRODUCTION <br /> . This memo addresses two issues which have been raised by both the <br /> City of Arden Hills ("the City") and the Everest Group ("the <br /> Redeveloper"): Under what set of circumstances is the proposed <br /> redevelopment economically feasible and what level of City <br /> assistance is required. The City has already received an <br /> extensive memorandum dated December 7, 1994, titled "Proposed <br /> Redevelopment for TIF No. 2" (the "December 7 Memo") which <br /> provides an overview of the tax and public finance implications <br /> for the approximately 900,000 square feet nine-year build-out of <br /> the Arden Hills Business Park (the "Project"). While the <br /> December 7 Memo provided an overview, this memo examines only the <br /> Phase I Redevelopment. <br /> PROJECT FEASIBILITY <br /> Schedule 1 attached provides an estimate of the Phase I <br /> construction costs. The construction costs exclude any payment <br /> for Site Costs as described below. The Sources and Uses <br /> . 1 <br />