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<br /> .FEB-06-98 FR! 09:05 AI'! WELSH FAX NO. 897 7704 P. 02 <br /> Welsh Companies rt l611' A <br /> . COlnprehensiv~ Jteal Estate Services <br /> 8200 Notrt\J.r\<:bdc Ooulev.arJ. Su.llc zoo e-i <br /> M'l'r'I\':I:Pt>li,. Mlnnlil~.)t;) 5.5437.1050 <br /> ~'1 897.7700 Fa 897.770-i <br /> Febru.ry 6, 1998 <br /> Mr. Kevin Ringwald, A.I.e.P. <br /> Community Development Director <br /> CITY OF ARDEN HILLS <br /> 1450 West Hi~way 96 <br /> Arden Hills, MN 55112-5794 <br /> Rc: GATEWAY BUSINESS DISTRICT DEVELOPMENT <br /> Phasesll, 111 and IV <br /> Dcar Kevin: <br /> We have exciting news. In the proee..' 01 prcpMng for closing on the final acquisition <br /> of all land in the "ew Plat, which Closing, by Ihe way, is now scheduled for the <br /> morning of Friday. February 13, 1998, we have encountered some startling and <br /> exciting business opportunities. <br /> A5 you know, the Apache Group is set for occupancy of their Phase IV project in late <br /> August 199B, and AmberJaek, Ltd., the real estate acquisition affiliale of State Farm <br /> . Insurance, has conlracted with us for the ownership of the completed Phase II project. <br /> In the course of our negoti.tions .nd discussions with AmberJa,k, and primarily <br /> because of AmberJad(s extreme confidence in tbe Arden Hills Gateway Busine.. <br /> District, they have instructed us to prepare full documentaUon for their acquisition <br /> and simultaneous construction of the Ph.se ill project. They have also instructed us <br /> that the condition of their going forward with the deal is that the Phase II and ill <br /> projects be simu Itancously constructed and presented to the market in the fall of 1998. <br /> Thereforc, we are hereby requesting the Cily's approv.1 01 that construction schedule, <br /> i.e., the construction of all threc phases, commcncing simu1tancously in March 1998, <br /> scheduled for completion in latc AugusVearly Scptember, 1998. <br /> This will rcquite and alteraUon of condition no. 1(1) as noted in your lettcr to us dated <br /> October 9, 1997 (copy attached). This aclion will also provide accelerated and <br /> increased tax increment revenue. <br /> Ploase let me know what additional information you may need. We are prepared to <br /> provide whatever is necessary in order to facilitate this approval. <br /> Very truly yours, <br /> . <br /> G<<I.It.....\.l <br />