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<br />I <br /> <br />. <br /> <br />e <br /> <br />e <br /> <br />T" { <br /> <br />. <br />mlll~ <br /> <br />1300 \,lilson Boulevard <br />Suite 400 <br />Arlington, Virginia 22209 <br />(703) 526 5000 <br /> <br />@ <br /> <br />COHHR',O:l <br /> <br />June 22, 2001 <br /> <br />Mayor Dennis Probst <br />City of Arden Hills <br />4364 West Round Lake Road <br />Arden Hills, MN 55112.5794 <br /> <br />Re: Exclusive Right to Negotiate <br /> <br />Dear Mayor Probst: <br /> <br />The purpose of this letter is to set forth a basic outline for our continued discussions and <br />negotiations of an agreement by and between The Mills Limited Partnership, a Delaware limited <br />partnership or its assignee or designee ("MLP" or "Mills") and the City of Arden Hills ("City"). <br /> <br />The City has expended and will continue to, expend time and efforts to secure the right to <br />acquire and redevelop that remaining land owned by the U.S. Army Ammunitions and Chemical <br />Command of the Department of Defense and known as the Twin Cities Army Ammunition Plant <br />("TCAAP") comprised of approximately 2370 acres ofland located within the boundaries ofthe <br />incorporated City limits and more particularly shown on Exhibit A (collectively, "Entire Site"). The <br />City and Mills are discussing the possibility of Mills acquiring a portion of the Entire Site of <br />approximately 100 to 150 developable acres for the development of a mixed use project with a <br />significant retail and entertainment component ("Land"). The Entire Site less the Land is hereinafter <br />sometimes described as the "Retained Parcel", In addition, Mills and the City is discussing Mills <br />acting as the master developer for the Retained Parcel, working in partnership with the City to either <br />develop or find suitable developers to develop housing, parks and recreational uses, offices or other <br />uses that the City and Mills agree to during the development of a "master plan" as hereinafter more <br />fully described. <br /> <br />Notwithstanding that the City has not yet acquired the Entire Site, Mills has indicated a <br />willingness to assist the City with respect to acquiring control of the Entire Site and masterplanning <br />same as requested by the City. The general outline of those discussions has been memorialized in a <br />letter from Liz Link to your offices dated April 19, 2001, In order for Mills to undertake these efforts, <br />Mills has requested that the City agree that in the event that there is any retail or entertainment <br />component planned or executed for the Entire Site, that Mills have the right on an exclusive basis to <br />be the retail/entertainment developer/manager/owner. The City has indicated a willingness to enter <br />into such an exclusive arrangement based upon the terms and conditions set for in this letter. <br /> <br />THE NEXT <br />GENERATION <br />OF RETAILING' <br />