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2005_0711_Packet
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2005_0711_Packet
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9/14/2009 10:03:02 AM
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Roseville City Council
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financing. Given the history of discussions between MIV and the City in this regaard, we <br />betieve the City could be held accountable far those economic losses. <br />If the City is commi�ted to spending its public dollars ta redevelop Area 8 as housing, <br />wtth the eliz�ination af $1 jobs, then it shauld do so promptly. Any period of time after <br />approval of the Twin Lakes Phase I project and the actual taking of the Area 8 properties <br />would result in unfair diminution of value by reasan of "condemnation blight." The <br />existing tenants wili leave and take S1 jobs with them if the threat of canderr�nation hangs <br />over these properties. IF tE�e properties cannot be acq�ired in 2005, the passible use of <br />condemnation to acquire these properties should be rerr�o�ed fram the redevelopment <br />contract. However, given the pending lawsuit brought by Friends of Twin Lakes, the <br />prospect of prampt approvals of the project and acquisition of the Area 8 praperties is <br />unrealistic. <br />Thank yau for your consideration. We are available to discuss this with you at any time, <br />and will attend the June 20 meeting to present our request. <br />Yaurs very truly, <br />MINNESOTA INDUSTRIAL VENTURE, LLC <br />B y l/�---- <br />Wait Van Heest <br />#313290I12 <br />�oc�thco R.eal Fst�te :services 3 �'- <br />srunb:&Elus <br />�90(1 Vikin� �ri��e 1�linneap�lis, _NiN 55�335-�31�1 �52.820.160(l 952.82O.1C20 fax htt�:ll�vtE�w.nortl�co.c��n� 'x��gnf�rank �` <br />�. ��',G€oE�ai �......�...... <br />L�depeniJcmlr Oe�=ned �riid Opera�rd . . _ . <br />
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