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<br /> <br />Q>tly)C~ of <br />luth~f~y) <br /> <br />g~VtC~ <br />C;hutch <br /> <br />2561 North Victoria. Roseville, MN 55113 . (651) 484-4144 <br /> <br />Steve Sarkozy, City Manager <br />City ofRoseville <br />2660 Civic Center Dr. <br />Roseville, MN 55113 <br /> <br />December 22, 1998 <br /> <br />Re: Joint purchase ofthe Huberty property <br /> <br />Dear Mr. Sarkozy: <br /> <br />Thank you for meeting with us to discuss the possibility of the City of Roseville and .Prince of <br />Peace Lutheran Church jointly purchasing and developing the Huberty property for shared <br />parking between the Church and Central Park. The estimate of the cost of this joint venture is <br />$400,000 ($300,000 to purchase the land and $100,000 to grade and pave it). The joint venture <br />proposal presented to us is to split these costs equally between the Church and the city, which <br />would have the Church contributing $200,000 and the city contributing $200,000. Also, you have <br />made us aware that the city would be willing to finance the Church's contribution amortized over <br />a 15 year period. <br /> <br />Prince of Peace Lutheran Church is unable to accept this proposal. We do not have sufficient <br />reserve funds available to cover the $200,000 contribution fTom the Church. Regarding the city's <br />willingness to finance a joint venture, amortization of this cost over 15 years would mean an <br />approximate $20,000 yearly payment to the city. Our yearly budget will not support an additional <br />expense of $20,000 a year. We are financially unable to enter into such an arrangement. <br /> <br />We also want to state that such a proposal by the city to address our parking situation does not <br />address approval of the Sr. Housing project. We are anxious to work with you to get the <br />necessary approval on the PUD. To be able to provide affordable housing to meet a demonstrated <br />community need could be a significant part of our mission as a congregation. What began as a <br />parking lot project for us has now become a significant mission project for the community. <br /> <br />Thank you again for your willingness to discuss this proposal with us. <br /> <br />Regards, <br /> <br />a~ <br /> <br /> <br />~ <br /> <br />Chris Henningson <br />President <br />Prince of Peace Lutheran Church <br />