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Mark Statz <br />From:Chris Harchanko <chrish@trulinegc.com> <br />Sent:Wednesday, April 19, 2023 3:36 PM <br />To:Mark Statz <br />Cc:David Harchanko <br />Subject: <br />Centerville Hotel Financial Incentives <br />Attachments:Centerville MN 23--04-13-Site Schematic.pdf; CentervilleHotelW-oTIF.pdf; <br />CentervilleHotelWithTIF.pdf <br />Cauon: This email originated outside our organizaon; please use cauon. <br />Hi Mark, <br />I am wring to follow-up on our exploraons regarding the ŋ nancial incenves that we believe are necessary to make a <br />hotel development project feasible and aracve to investors. We have spent extra me verifying the numbers with <br />industry partners to ensure that our conceptual proposal is realisc and sustainable. <br /> <br />The aached site plan shows an 80-90 room hotel, with a prime outlot for a standalone TBD restaurant. The 4-story <br />upper-midscale hotel will include a range of amenies such as a hotel bar, breakfast lounge, large lobby, pool, ŋ tness <br />room, a variety of room-types, and a meeng room. The ŋ nal brand selecon will be based on the market study <br />recommendaons and other contribung factors, and is not necessarily limited to a speci ŋ c hotel product at this me. <br /> <br />Also aached to this email, you will ŋ nd two variaons of our operang projecons. The ŋ rst model does not include <br />any ŋ nancial incenves, while the second model shows a 10-year TIF/Abatement with a total value of at least <br />$1,330,000. Aer this conceptual analysis, we have determined that without any ŋ nancial assistance the model falls <br />short of the investor performance requirements. On the other hand, by adding the proposed ŋ nancial incenves, the <br />project becomes acceptable to investors. <br /> <br />Thank you for considering our suggesons, and we look forward to hearing your thoughts. <br /> <br />Best regards, <br /> <br /> <br />Chris Harchanko <br />www.apollodevco.com <br /> <br />ΑΏΕ #§¤«²¤  2® £ <br />-®­³¨¢¤««® -. ΔΔΒΕΑ <br />ΕΔΐȃΑΗΒȃΗΕΗΐ <br /> <br />1 <br /> <br />