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- e ®~ <br />-'.'e <br />.,itl.Y :M1 ~.. <br />~`~ ~~~ ,1 <br />' ~~ <br />Ms. Heidi Nelson July 14, 2010 <br />City of Ramsey <br />7550 Sunwood Drive Northwest <br />Ramsey, MN 55303 <br />RE: Proposal for Services for Proforma Analysis and Negotiations -Residences at <br />the COR <br />Dear Heidi: <br />Thank you for the opportunity to submit a proposal in regards to the above referenced project. <br />Following is the scope of services anticipated for this project: <br />1. Review of development profonna submitted by developer and development of a base <br />model proforma <br />2. Complete proforma analysis to analyze various options and to assist in determining <br />appropriate level of assistance <br />3. Identify financing "gaps" and recommend potential revenue sources to fill those gaps <br />4. Update proforma as needed based upon agreed upon business and development terms <br />5. Participate in negotiations with developer and City regarding the amount, terms and <br />structure of public assistance as well as review and comment on development <br />agreement as it is drafted <br />Our firm bills on an hourly basis for these services at $190/hour. Costs for analysis and <br />negotiations can range from $3,000 to $40,000 dependent upon the size and complexity of the <br />development. I anticipate that this particular project would be in the $10,000 to $16,000 range. <br />I will be responsible for the majority of the work involved. Mark Ruff in our office will serve as <br />the secondary contact on the project and will be involved as needed in completing financial <br />analysis of the project and developer proforma review. <br />I look forward to the opportunity of working with you on this project. Please contact me at 651- <br />697-8506 with any questions. <br />Sincerely, <br />~- ~~~-_"-__z.. <br />Stacie Kvilvang <br />~~ ~_-~~~~:~ E H L E RS <br />LEADERS IN PUBLIC FINANCE <br />v~!wtiN,~hlerS-inc,COCr~ <br />Minnesota phone 651-697-8500 3060 Centre Pointe Drive <br />Qffices also in Wisconsin and Illinois fax 651-697-8555 Roseville, MN 551 1 3-1 1 22 <br />toll free 800-552-1171 <br />