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<br /> <br />THE <br />, ; A VIDSON <br />1 <br />OMP l\J:~IES <br />) <br />,'INC. <br /> <br />MEMO <br /> <br />Date: <br /> <br />February 4, 2008 <br /> <br />To: <br /> <br />Mayor Stan Harpstead <br />Council Member David Grant <br />Council Member Brenda Holden <br />Council Member Fran Holmes <br />Council Member Dave McClung <br /> <br />From: <br /> <br />Robin C. Davidson <br />The Davidson Companies, Inc. <br /> <br />Subject: <br /> <br />Interim Use Permit - Former Holiday Inn (The Property) <br />Arden Hills, MN <br /> <br />The Davidson Companies has entered into a contract to purchase the former Arden Hills Holiday <br />Inn. Additionally, we have entered into a contingent Agreement with Northwestern College <br />(NWC) to lease The Property for temporary student housing, subject to the issuance of an interim <br />use permit to allow NWC to occupy the Hotel for a period of not to exceed 36 months. (NWC <br />will be constructing student housing on campus as a component of its master plan) <br /> <br />Following the use of The Property by NWC, It is the intent of The Davidson Companies, Inc. to <br />remove the existing structure and redevelop the site. <br /> <br />An interim use permit creates a four-way win. <br /> <br />Win # I - City of Arden Hills wins. <br /> <br />Holiday Inn property is currently vacant. A vacant property tends to attract vandalism and <br />graffiti. The property value decreases, police calls increase, etc. <br /> <br />Holiday Inn Property - is For Sale. In the event The Davidson Companies is unable to <br />close on its purchase agreement, the Seller may find a buyer who would operate The <br />Property as a budget hotel or, The Property could be sold to a non-profit whose use <br />potentially could remove The Property from the tax rolls. It is highly unlikely that a <br />prospective buyer would purchase The Property and hold The Property for two years <br /> <br />3900 Northwoods Driye, Suite 125, Arden lIills, MN 55112 Phone: 651-481-6290 Fax: (651) 481-6289 Email: rob@davidsoncos.coffi <br />