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of Dahlgren Shardlow and Uban. The Stakeholder Panel process with the undertaking of this two distinct step has been completed.The advice of the Srnkeholder Panel has been taken under consideration by Rottlund in the formulation of a sketch and concept plan for the redevelopment of Twin Lakes. ~ in concert with the City and its consultant we have identified all property that will be included in the first phase of the redevelopment. This information fonns part of the Financial Plan that has been previously submitted to and discussed with the City by Krass Monroe. As has been shared, a number of these parcels of land are under contract or under control of the development team. It is anticipated that as the redevelopment process continues discussions will take place with other land owners with respect to the acquisition of these properties. In order to better under the potential acquisition environment, we have in concert with the Shenehon Company and Et::iksson Commercial Real Estate Inc. undertake prepared preliminary appraisals and relocation costs for representative parcels in the initial phases of the redevelopment. This information has been discussed with Krass Monroe and has been incorporated within the Financial Plan that has been jointly prepared. A copy of a letter to Rottlund from Shenehon Company is attached. This letter details the "notable responsibilities" that have been discharged by Shenehon Company, .. in partnership with and with thc coordination of the City of Roseville IcUld its financial consultant, Krass Monroe, a preliminary Financial Plan has been prepared. This plan identified preliminary sources and uses associated with the first phase of the Twin Lakes redevelopment. It incorporates considerable information pemlitting the plan to be advanced and specifically pennits the formulation of a financial strategy to bring about the reemergence of Twin Lakes. We wholeheartedly endorse and support the provisions of the Financial Plan - its preliminary forecasts, recommendations and strategies. In conclusion, we have fulfilled the tem1S of Article 7 of the "Cont:raA;t for Exclusive Negotiation". We look forward to continuing to lead a redevelopment process supported by members of the Development Team and in full consultation with the City of Roseville. We are excited about the very real prospect of bring about the redevelopment of Twin Lakes and leading it back into being a vital part of the urban fabric of the City ofRoseville. ~ J lChaeI Noonan, i e President, innesota Division JMN/jnm Encls.