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<br />February 17, 2003 <br /> <br />Theresa Bender <br />City Administration <br />City of Centerville <br />1880 Main Street <br />Centerville, MN 55038 <br /> <br />Dear Theresa; <br /> <br />This letter of intent is being written to convey my sincere interest in rehabilitating and using the <br />vacant property at 7073 Centerville Road. I am passionate about saving the existing housing <br />population by using my talents as a licensed building contractor. I am also a property manager <br />and proud resident of Centerville. I believe I can bring income to the City of Centerville, while <br />improving the look and feel of the area. I am willing to negotiate any of the scenarios below to <br />meet the needs ofthe City. <br /> <br />1. Purchase the property from the city. <br /> <br />· We will make payments to the City of Centerville with a 5-year balloon or other <br />acceptable terms. <br /> <br />· City of Centerville would make interest income. <br /> <br />· Property will be rehabilitated at the expense of the purchaser. <br /> <br />OR <br /> <br />· Pay the City of Centerville cash for property by way of new 1 st mortgage. <br /> <br />2. Lease the property from the city. <br /> <br />· City of Centerville would pay for all rehabilitation costs done by the Lessee. <br /> <br />· Lessee would lease the property from the city for a minimum term of 60 months. <br /> <br />· City of Centerville would receive a monthly lease payment. <br /> <br />3. Manage the property for the city. <br /> <br />· City of Centerville would pay for all rehabilitation costs done by Property Manager. <br /> <br />· Property Manager would pay a percent of the monthly cash flow to the City of <br />Centerville. <br /> <br />I look forward to a favorable response regarding this vacant property and would be interested in <br />other opportunities to work with the City of Centerville. <br /> <br />Sincerely, <br /> <br />j , ,~ <br />"jjli v""f <br /> <br />.i/i-CL; .L. -' /J1 a-J;- <br /> <br />Jeffery J. Hanzal <br />Phone 612-750-1442 <br />Fax 651-653-2020 <br />