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`} y� s�"� E`� r� _��-Q�n C� <br />IVERS�N REUVEi�,� <br />A'�TORNEYS A� LAW <br />May 10, 2007 <br />The Honorable Mayoa• and C�ty Cauncil <br />City of Roseville <br />2660 Cirrzc Cez�ter Dr. <br />Roseville, MN SSl 13-�8�5 <br />RE: Roseville Twin Lakes, LY.0 v. City of Roseville <br />Dear Mayor and City Council Mcrs�bers: <br />The p�tpase pf ti�is letter is to provzde yo� with a brief update on tk�e Raseville <br />Twin Lakes, LLC iz�igatiqn. <br />As you fcnow, ttze R�developer za7ifiiated a Iawsu�t against the City oi Roseville to <br />challenge its obligations undez t�e Redevelopn�ez�t Contract and to p�event the <br />City f'rozn dzaw�ng on the L.etter af Credit. The Redevelop�r vvas unsuceessful in <br />preventing the City frqr� securing ih� Letter oF Creciit. As a result, ��� City <br />currently has the proceeds frorn the Letter af Cred�t, totalin� $827,fi5a. Because <br />of the decision ofr ti�e Minnesota Co�rt of Appeals in the Friends of Twin Lakes <br />litzgation, the Red�velaper claims the Redeveioprnent Ca�txact is now void and x� <br />is e�ititled to a retu�a of all of the proceeds from the letter of eredit. <br />We abviaus�y disagr�e with the Rede�eioper°s posit�t�rz and �ave scheduled a <br />Motion for Su��mary Judgzraent before Judge Da�id C. Higgs for 7�zze 12, 200?. <br />Tk�e Court will ultimately ctetec�nine the parties' respecti�e obligatzans under th� <br />hedevel.pp�z�.e�t Co�tract. Tlze Court will have up ta 9t] days ta issue a decision <br />following the hearing. <br />I will kee� you advised. In the zx�eantime, plcase �et me know if yn�z have any <br />questions or co��cez�s. <br />Best regards, <br />NERSON REUVERS <br />��`--l``��� �.,.,�.,� <br />Paul D. Reuvers <br />I <br />.�.,t��.,;,� x.�;c{ -{ <br />PAi1i D. REUVBRs <br />D�RLCT: 952548.7205 <br />ha��uv�nsC��ve�sot�r.�w.co� <br />Tc?r� K. Iv�,RSOv <br />PnuL T3. REVV�xs <br />j�FF M. ZnLnsxr <br />TASON J. KUSOUSC-ItK <br />PAML'LA J.P. WHITMORC <br />Insor� M. Fzavz�.�x <br />SUSAN M.'TENDAL <br />�EFFREY A, EGG£ <br />Ar���ri S. L�� <br />Iv��soN R�vvxns, r.r.c � 932i Er�s�cr� Aver�u� 5pu�r�� j B�,00Mixcro�,MN 55�38 � 952.548.7200 � rnx: 952.548.72�0 � www.iv�RSaNr.nw.coM <br />