Laserfiche WebLink
<br /> I _Uul-Ui-:j! IUt: U~,q4 r11 Wt:L~H vu rM NU. ~~o r IJ4 r. UJ <br /> I _Companies <br /> Co...preJ..~Il..ive kfl.t.1 fi"h.tr Sl/:rYfcCll <br /> if 8100Natftl.an,<.l.t.lv BC'IllI4!v.:n'd, S"litQ 2.01) <br /> Minnnpcll~. Minnc$Qt45-S437-10tiO <br /> 61V197.7700 Pi:\lC697.7704 <br /> I BI{ Facsimile <br /> 633-7839 <br /> I Memo <br /> I Dale: October 7, 1997 <br /> TO: Kevin Ringwald, AlCP, City of Arden Hills , <br /> I FROM: Dick Zehring, Welsh Development Company, LLC <br /> REF: Gateway Business District Tax Incremen t FinancinG Plan <br /> I HE: Extraordinary Site and Soils Correction <br /> I At our meeting last Thursday, I indicated to you and Brian Fril$inger that we had, as a result of <br /> our additional soil boring;, detcrmingd that a very significant a"'ount of exlraordinary soil, <br /> Ie correction would be necessary in connection with further development. <br /> These new numbers have nevcr been contemplatcd by us, and, as I indicated to you, make thc <br /> I project as a whole, financially inreasible without the assignment of approximately $250,000 of <br /> these extraordinary correcUon costs to the t1X increment plan, ,,~th whatever concomilan,t <br /> adjustments must be made to the Phase II, mand IV Assessment Agrcements in order to assure <br /> coverage of the costs. <br /> I Additionally, you have asked for this outline of the circumstances so as to be able to assess the <br /> taxable/tax exempt "peets of the proposed bond issue. <br /> I The bulk of the soil correction costs arc in fact on the City properly. There will be soils correction <br /> work necessary On the Harstad and Zafke parcels, but the bulk of the work, as outlined below, is in <br /> fact going to have to be performed in connection with the utili7.ation of the City's own land. <br /> I Last Friday, Mr. K,etman ofHKS Associates, I believe, provided you wilh the following additional <br /> soils dala: <br /> I 1. Braun Intertech, Geotechnical Evaluation Report for Welsh Companies, <br /> Project BBXX,97'()12A dated February 20, 1997 <br /> I 2. Braun lnterteeh, A Geotechnical Evaluation Report for Welsh Companies, <br /> Project llBXX,97-10BA daled August 20,1997 <br /> 3. Braun Interlt:ch, A Geotechnical Evaluation Report for Welsh Companies. <br /> I Project BBXX-97-186A dated August 25, 1997. <br /> .. <br /> I <br />