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Sprin, gstied <br />MMOiRaEM <br />TO: Pat T'rud�ge�oIn�, Co e�loIpme e oIr <br />Jamie Rad�e�l, Eco • e�loIpme Associate <br />F'ROI : Mikaela HuoIt, Assistant Vice President/Consultant <br />DATE: April 16, 2008 <br />Attachment A <br />Springsted Incorporated <br />380 Jackson Street, Suite 300 <br />Saint Paul, MN 5511 11 -2887 <br />T'el- 651-223-3000 <br />Fax- 651-223-3002 <br />www.springsted.com <br />In our proposed development project an�alysis work plan dated F'ebruary 2008, we had indicated we would provide an <br />estimate as to, the fin�al timeframe and cost of our work within 60 days of engagement. The purpose of th�is memo is <br />to, provide an update on our progress of work completed to-date related to, the fin�an�cial an�alysis for the prolpolsed <br />Twin Lakes redevelopment project area. Included with th�is update is an estimated time frame for completion and <br />anticipated total fee for our an�alysis. <br />As of March 31, 2008, we've incurred approiximately $10,000 in expenses related to, the an�alysis. T'h�is in�clud�es our <br />an�alysis and discussion • three primary components: <br />);o- Plroject Analysis of Developer OTT'IcGough) <br />);o- Plroject Analysis of Developer (Cent Ventures, LLC) <br />no M4=411ITM MI, 1w, 111=6 Imm Me, M MIT, MI, MM11ITMM1=4 <br />Tax increment projectiolnms, by developer, project an�d�/oir phase <br />Other sources of revenue <br />Estimated uses of funds <br />Match sources and uses <br />Identify (and fill, if poissible) any gaps <br />A large • portion • our work-to-date has been focused • creation • •ld�el to, determine total project <br />costs and estimate available project revenues. We've begun project an�alysis of both developers, McGough and Cen�t <br />111M�� <br />