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<br />Mr. Michael 1. Noonan <br />September 21. 2004 <br />Page Two <br /> <br />Reco:m.mendation of a relocation e~ to estimate potential relocation costs of <br />property use.rs within the redevelopment ~ and reviewing the ;relocation costs <br />for reasonableness and consulting with Federal regulations; <br /> <br />Identification of sources and use,s offuuds anticipated in the redevelopment <br />project and development ~p strategies to test whether a redevelop.me:o.t project <br />is econontica1ly feasible; at Twin Lakc.."S; <br /> <br />Attending planning rneBtings 21nd city' council meetings to provide valuation <br />expertise to the development team; <br /> <br />Reviewing and testing the initial financial model prepared by the firm ofKmss <br />and Momoe, the City of RoseviUe's fin.anciar consultant <br /> <br />We ate pleased to tell you that after spending countless hours and a significant .financial cost On your <br />part, the :financial mode! feC(,"Iltly prepared by.Krass and Monroe shom! that with the gap strategies <br />as proposed, the redevelopment project is financially feasible and market supported. We have <br />reviewed and tested the TIF plan calculated by .KraSs and Momoe and we adopt it as fe8SJ.ole. Thus, <br />we recommend th8t YOll move forward v.rith the redevelopment project and coutinue to p'Ursue the <br />necessary City approvals. ' <br /> <br />We appreoIate the opportunity to a&',-1st in your efforts to.master plan a redevelopment 'Mtbin. Twin <br />Lakes and look forward to \VQrking with you in the future. <br /> <br />Very truly yours, <br /> <br />SHENEHON COMPANY <br /> <br />P.AJ tJ- A--~--- <br /> <br /> <br />Robert J. Strachota, <br />President <br />