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77 <br /> James Lehnhoff <br /> To: kevin.legare@gsa.gov <br /> Subject: RE: Update <br /> -----Original Message----- <br /> From: kevin.legare@gsa.gov [mailto:kevin.legare@gsa.gov] <br /> Sent: Monday, June 14, 2010 2:00 PM <br /> To: James Lehnhoff <br /> Subject: RE: Update <br /> Hello James, <br /> From the City's perspective, how does the park dedication requirement <br /> change to accommodate the 30 acre trail proposal? This review and change <br /> by the Planning Commission in the requirement would be the evidence as <br /> supported in the letter? <br /> Still working the draft IFB but wanted to send you a snapshot of the <br /> proposed deal structure. The proposed disposal alternative contemplates no <br /> more than three successive closings, i.e., a phased fee conveyance of the <br /> entire 430 acres. The 430 acres will be divided into three parcels to <br /> include a blend of remediation responsibility and fee owned land. <br /> Conditions of the first closing include: <br /> 1. 50% of the bid price would be given to the U.S. as additional deposit <br /> monies for approximately 200 acres of fee simple land by deed (FOST <br /> restricted to industrial) <br /> 2. A license for the remaining portions of the property which includes ALL <br /> Operating Units (OU) 5-23, as shown on the FOST map. The license would <br /> allow the developer access to the remaining portions of the site for <br /> remediation purposes only. <br /> 3. An executed Response Action Agreement with buyer and MPCA <br /> The second closing should be predicated on the buyer's performance for <br /> cleanup under the FAA/RAA. An additional 25% of the bid price would be <br /> given to US for approximately 200 acres of fee simple (restricted to <br /> industrial) land, but only if a percentage (13 of the 19 OUs are finished) <br /> of the cleanup has occurred. The buyer can select which of the 13 to <br /> complete first . This is open for discussion but the trigger for the second <br /> closing will be tied to some remediation. <br /> As for the third closing, fee simple unrestricted (northern parcel) would <br /> be conveyed if all 19 OUs are finished and the remaining 25% of the bid <br /> price is paid. Anticipated timeline for the last of the three successive <br /> closings is 3-5 years. <br /> These issues will be discussed at the upcoming bidders conference to <br /> stimulate market reaction and industry feedback. This feedback will drive <br /> the final IFB. I have a map being drafted that will serve as a good visual <br /> for the above narrative and hope to have this to you later this week. <br /> Thank you, Kevin <br />