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As you are aware, following the filing by the Friends of Twin Lakes of a petition to the EQB, Council by resolution Council modified the December 31st deadline noted above to indicate 60 days following consideration of the Twin Lakes concept plan. Council adopted the plan on January loth and by this action the new milestone deadline has been identified as March 11 th. In view of the above requirements we have completed the following: . A preliminary site plan was submitted to the City as part of the applications for an amendment to the Twin Lakes master site plan, preliminary plat, rezoning and general concept plan. Council approved the four applications submitted by Rottlund and by implication has accepted the site plan for the first phase of Twin Lakes. At the time of approval Council did provide some direction with respect to the modification of the site plan. Attached to this letter you will find a letter dated February 10, 2005 from RLK- Kuusisto (RLK). Attached to the RLK letter is a modified site plan that incorporates a round about as part of Twin Lakes Parkway and shift the parkway further to the south. . The Rottlund Company and its financial consultants have been working in close association with the City in the preparation of requisite feasibility and financial analyses. Building upon financial analysis that was undertaken throughout the fall of 2004, refined assessments have been provided Krass Monroe to permit it to provide the appropriate assessment to Council. We do attached a copy of "Real Estate Market Assessment and Demand Analysis for Twin Lakes Redevelopment" prepared by GV A Marquette. This report provides a professional opinion as to the degree of market support for each of the development components comprising the Twin Lakes redevelopment project. ( . The RLK reference above provides an assessment of the adequacy of existing ordinances, include the City's shoreland ordinance and recently enacted B-6 zoning. This assessment read in concert with previous evaluations by the City's Community Development Department staff provides a full description of the adequacy of City ordinances to guide and regulate the redevelopment of Twin Lakes. . The RLK letter identifies the governrnent approvals that will have to be secured in order to permit the redevelopment of Twin Lakes to proceed. . Within the RLK letter these is an assessment of the adequacy of sanitary sewers, water, storm sewers and roads. Much of this information has been drawn from previous analysis undertaken for Twin Lakes. However, it has been augmented and should be read in conjunction with the preliminary utility and road plans submitted by RLK as part of Rottlund September 2004 preliminary plat application. . American Engineering and Testing is presently finalizing a report that will provide a review of existing environmental reports and will advance recommendations as to what additional environmental investigations are warranted. This report is being prepared in consultation with the City's environmental consultant DRPA. It is anticipated that this report will be submitted to the City under separate cover shortly. In conclusion, it is our believe that we have fulfilled the terms and requirements of the "Contract for Exclusive Negotiation" and specifically Article 7(b). (