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• ., � , • <br />UNITED PROPERTIES <br />December 6, 2006 <br />Mr. John Stark <br />Community Development Director <br />City of Roseville <br />2660 Civic Center Drive <br />Roseville, MN 55113 <br />RE: Twin Lakes Redevelopment <br />Dear John: <br />I understand the Twin Lakes Redevelopment project was dealt a setback recently. <br />During our conversation earlier this week we discussed United Properties' interest in <br />developing office within the Twin Lakes Redevelopment Area. <br />United Properties has been one of the Twin Cities' most prominent suburban office <br />development companies for decades. We have a very real interest in discussing the <br />acquisition of the two sites just east of the off ramp from 35W. <br />I understand the City is in the middle of the condemnation process of the Old Dominion <br />site, and the adjacent site. You are naturally contemplating whether or not to proceed <br />with the condemnation given the development plans have changed. United Properties <br />would be interested in discussing how we might play a role in acquiring the site after the <br />City has completed its condemnation. We would also be interested in participating in the <br />condemnation process if we can be of assistance. Specifically, we could enter into a <br />development agreement to acquire the site, or a purchase agreement leading to an <br />outright acquisition. <br />We are open to how to best structure our involvement on this site and look forward to <br />talking with you more about this transaction. We firmly believe that the best way to <br />promote activity on any site is for a developer to be aggressively working through the <br />development process, along with proactively marketing the site. I look forward to further <br />conversations on this topic. <br />Str�cerely, <br />, <br />i-. � <br />( f: . _ . <br />I /. ' � <br />?-�rian P. Carey <br />Senior Vice President <br />Development <br />C: Thomas Paschke <br />BPC/bls <br />3500 American Blvd. W.. Minneapolis, MN 55431 • 952.831.1000 • fax 452.893.8206 • vvww.uproperties.com <br />