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<br />CHESAPEAKE <br /> <br />May 20, 2009 <br /> <br />Meagan Beekman <br />City Planner <br />City of Arden Hills <br />1245 West Highway 96 <br />Arden Hills, MN 55112 <br /> <br />Re: Final PUD Building Permit Extension <br /> <br />Dear Ms. Beekman, <br /> <br />As per Section 3.0.B.1.a. of the Planned Unit Development Permit, CMK Arden <br />Holdings is requesting an extension of the deadline for the requirement to apply <br />for a building permit for Phase I to July 30, 2011. <br /> <br />CMK requires a lead tenant in order to commence construction of Phase I. CMK <br />has been actively marketing the project through brokers and direct <br />communication with prospective lead tenants. Due to market conditions and <br />various other factors such as location of tenant's work force, CMK has not been <br />able to sign a lead tenant. The current economic climate has unfortunately <br />caused companies to retrench as opposed to pursue new construction options. <br />Those that are looking for space are generally looking to reduce overhead <br />through space reductions and lower rent in second generation space. We feel <br />our best chance today is a user with unique requirements that cannot be met with <br />an existing building. Without a lead tenant, we can not comply with the <br />application requirement for Phase I of th.6 Planned Unit Development Permit and <br />are requesting an extension at this time. <br /> <br />Sincerely, <br />CMK Arden Holdings <br /> <br />~.~ <br /> <br /> <br />Diane Johnson <br />Project Manager <br /> <br />cc Jon McClure <br /> <br />CHESAPEAKE COMPANIES <br /> <br />601 CARLSON PARKWAY, SUITE 900 - MINNETONKA, MINNESOTA 55305 - 952/847.2444 - CHESAPEAKECOMPANIES.COM <br />