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Brijdlord Scillools, inc. <br />1 June 9, 1989 <br />Waldron <br />Mr. . Craig <br />Director of Conmp-L -i.ty Development <br />City of Roseville <br />2660 Civic Center Drive <br />Roseville, MN 55113 <br />Dear Craig: <br />1 <br />As you required in our meeting June 51 1989, the following is <br />Y questions <br />the 5 key qu <br />intended to clarify Bradford's position r� <br />r <br />you asked. <br />1. F17y wauld Bradford Scbcol.s wish to develop a proms <br />with such a low reb-IM? <br />I cannot overemphasize the fact that Bradford is a real <br />in to he classic <br />estate developer nor are we in the real ester usiness <br />estate activities are necessary and valuable only as <br />sense. Our real <br />they relate to, enhance and sty: c„ar business; education. I <br />this singly as a real estate <br />recognize that the City might tend to view <br />from our perspective it is an investment <br />development, but I assure you <br />future of the Minneapolis Business college. Fr -am a pure <br />in the f is <br />� <br />Mate perspective, is this a stellar investment? Hardly. But, there <br />this investment worthwhile; a new <br />value to our-Aisiness that makes <br />students; safe, supervised, quality <br />facility that better serves our <br />housing, within walking distance of school; the ability to expand <br />the ability to <br />.the <br />that housing as/if our needs change. ample parking and <br />efficient, school facility <br />' <br />add more as required; a new, attractive, <br />occupied solely by 2"� with the ability to expand if needed; good <br />this school and its <br />t We believe in <br />highway access; and a permanent <br />we willing to make the inr�,t <br />long texm prospec.�ts for success. a-e <br />necessary to ensure that success. <br />2, what is aQnatmt of equty <br />in tree Proj;t' <br />A cash equity investment of $700,000 is anticipated for this <br />project. <br />355 Flf lF� AVENUE51;ITE �t'10 f'ITiSE3UHC,H PE=NN5�'lV%NIA 152�'2 <br />() <br />