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<br />,~ ~. <br /> <br />- <br /> <br />. <br /> <br />. <br /> <br />Mr. Peter Hellegers <br />Octobcr 4, 2004 <br />Page Two <br /> <br />Our stratcgy is to continue to aggressively pursue quality companies when they come to the <br />market. <br /> <br />With the market slowly improving, larger companies are starting to plan for consolidations and <br />new facilities. As they do, we believe they will be hotly pursued by all viable landowners and <br />City's. For this reason, it is important that we have as few barriers or obstacles as possible to <br />secure a quality tenant. <br /> <br />By having our approvals/zoning in place, 1) zoning tbat allows 100% office users and <br />multi-story office buildings; 2) we eliminate a significant uncertainty in tbe analysis from <br />tbe prospective company. In light of the current economy, most corporate executives are very <br />risk adverse, They do not want to spend time or money pursuing a site that has any uncertainty <br />or risk. Therefore, they frequently reject sites if they pose any risk of not closing. <br /> <br />If vou approve our PUD extension, it puts our site and efforts to secure a tenant at an <br />enbanced position in a competitive marketplace. Some of the other landowners, developers, <br />and City's do not have these advantages and will have to overcome the issues of uncertainty of <br />City approvals, excessive time to achieve approvals, and additional expense that we have <br />proactively achieved. <br /> <br />We invested a lot of time and money to make our site as marketable as possible to potential <br />users. All of the essential issues have been completed such as wetland delineation, civil <br />engincering, survey, topos, environmental, EA W, and Master PUD. <br /> <br />We hope you continue to support our efforts to develop this property into a high quality campus <br />that we can all be proud of. Extension ofthe POO approval places Interstate Crossing in an ideal <br />situation to capture business growth opportunities as soon as possible in a manner that advances <br />the specific policies and goals stated in the City's comprehensive plan. <br /> <br />Sincerely, <br /> <br />CMK ARDEN HOLDINGS <br />a Minnesota Limited Partnership <br /> <br /> <br />c~ <br /> <br />PCC/amb <br /> <br />cc: Diane Fredeen <br />