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During our recent telephone conversation with Ms. Sherman, we were advised that the City of Ramsey <br />would consider excepting the Property from the moratorium if the five factors set forth in Section 4 of <br />the Interim Ordinance were satisfied. The following is a recitation of the five factors and a statement <br />of our arguments for granting the exception: <br /> <br />1. That there are special circumstances or conditions affecting said property such that the strict <br />application of the provisions of this Moratorium Ordinance would deprive the petitioner of the <br />reasonable use of the petitioner' s land.. <br /> <br />TSM believes that special circumstances exist which would deny it the reasonable use of the Property. <br />As such, TSM requests exception from the moratorium. These special circumstances are four-fold, <br /> <br />First, TSM purchased the Property from Johnson for development purposes under the reasonable belief <br />that the then-existing moratorium by the City of Ramsey was based on a temporary Interim Ordinance <br />which was to expire at the end of 1998. TSM received no notice prior to its purchase of the Property <br />that the Interim Ordinance would be extended in March 1999. TSM would not have purchased the <br />Property had it been put on notice that the Interim Ordinance would be extended in March 1999, or <br />had it been put on notice that the City of Ramsey was even considering extending the moratorium. <br />Now, the moratorium has been extended even further to February 16, 2001. <br /> <br />Second, TSM purchased the Property for development purposes with the proceeds of loan financing. <br />To the extent that TSM is prohibited from putting the Property to productive use, TSM continues to <br />face exposure for continuing interest payments, as well as loan extension and origination costs. <br /> <br />Third, TSM has established relationships with certain builders who have offered to purchase the <br />developed townhome lots. IfTSM is not entitled to proceed with the development of the townhome <br />lots this building season TSM may lose its relationships with the builders. In addition, TSM and the <br />builders will be delayed development or construction on the Property until next building season. <br /> <br />Finally, the Property is currently zoned for industrial development. However, the consultants engaged <br />by the City of Ramsey to update the comprehensive plan, Hoisington Koegler Group, Inc., have <br />advised TSM in their opinion memorandum dated June 15, 1998 that the Property "would most <br />appropriately be designated as a residential use rather than industrial .... "The memorandum goes on <br />to state that "[t]he Comprehensive Plan is currently looking at a mixed residential land use <br />designation, which.., would accommodate low, medium, and high-density housing .... "Because of <br />the zoning re-designation proposed by the City of Ramsey's consultants, TSM is denied the certainty <br />of the Property's current zoning, as weIl as any certainty as to the proposed future zoning or density <br />designations. As such, TSM is effectively denied all use and enjoyment of the Property. Accordingly, <br />circumstances exist to warrant exception from the Interim Ordinance. <br /> <br /> I <br /> I <br /> I <br /> <br /> ! <br /> ! <br /> <br /> ! <br /> l <br /> ! <br />! <br />! <br />! <br />! <br />I <br />! <br /> <br />",4 Team Approach To Legal Representation." <br /> <br />I <br />I <br /> <br /> <br />