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, .. ,. The Rottlund Company, Inc. Arona Housing Site Roseville, MN ReSDonse to City Council Questions: 1) Create a vision for the site. Based on your proposal, what do you see on the site by the end of 1999? In other words, what types of buildings, housing and market niches will have been created on the site? How much new construction value will be added to the site? The Rottlund proposal is targeted toward two main buyer markets; the 28 one-level cottages for the empty nesters and seniors (62 and over) market and the 96 three-story attached townhomes for the single professionals and single parents market, both of which fill strong housing needs in the City ofRoseville, Our vision is to offer variety of product for owner occupied "for sale, affordable housing" and to do this without any City assistance, To have the townhomes produce the density to maximize the utilization of the site, but to allow for single family detached cottages at a much lower density and also to increase open space and park opportunities. To create a quality, enduring and successful neighborhood that compliments and enhances the existing surrounding community, We estimate today's market value to be $13,520,000, 2) How can the City be assured that your team commitment to marketing the site and construction on the site will be completed on time as proposed? What type of financial guarantee or other commitment can you team deliver to the City? Our team is all within The Rottlund Company, Inc. located in Roseville; the land development, the design, construction, sales and marketing and financing, We have success with all of our projects and have completed all developments on a timely basis, Weare constantly presented with development opportunities, we then perform extensive research and analysis to insure success with the selected projects, Our financial guarantee is the purchase of the property for $1,000,000 in cash. To secure performance at closing The Rottlund Company, Inc. will post security in the amount of $250,000 in cash or letter of credit. Such security shall be provided upon execution of an agreement between the City and The Rottlund Company, Inc. 3) What role do you expect from the City as your "partner"? What are the major decisions and the gross and net financial assistance the City as a "partner" must make in order for your visions of the site to be accomplished? Our only request of the City is to present a clear/clean site for development, which includes demolition of existing structure at the appropriate time.