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I <br /> I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />Mr. Ryan R. Schroeder <br />September 28, 1995 <br />Page 2 <br /> <br />In fight o,f the fact that Anoka is contributing its industrial land for free to attract similar <br />development, United will be limited on the land prices it charges by market pressure. This <br />alternativ~ puts the risk on United to earn its compensation and eliminates the need for the City <br />to pay commissions on transactions that don't generate sales revenue. <br /> <br />If TIF is requested by a land prospect, the amount of available TIF benefit can be reduced by <br />the estima~ted value of the land to prevent the company from getting additional benefit for land <br />they may have received at no cost, and thereby limiting the TIF benefit to any other allowable <br />land improvement costs. <br /> <br />United requests a two (2) year term for the Development Agreement, with marketing progress <br />meetings occurrin, rg every six (6) months to review prospect lists and our marketing activities. We are <br />receptive to the City canceling the agreement, for cause, at any time during the Development <br />Agreement term.: <br /> <br />We have proposed the two alternatives to provide the City with the flexibility to choose the alternative <br />that best meets it~ needs. United Properties, with its 35 brokers, can expose your industrial park to the <br />entire Twin Cities industrial market network. Furthermore, we believe that by being developers, we <br />offer more than the typical real estate brokerage company by having the ability to also offer build-to- <br />suit services and !in the right market conditions, develop speculative projects (subject to pre-leasing). <br />These are additional ways of accomplishing land sale activity. We are confident that we can <br />successfully market your land and attract the kind of businesses that you want in the City of Ramsey. <br /> <br />I have scheduled 'a meeting next week with Doug Uhrhammer, with Anoka Electric Co-op, regarding <br />their Ramsey property. He is very interested in having United Properties market their property jointly <br />with what we propose for your industrial park. <br /> <br />We look forwardto talking with you further about these alternatives. We will prepare a Land Listing <br />Agreement if Alternative A is selected, or the Development Agreement for Alternative B. Please call <br />me at 893-8836, i'f you have any questions. <br /> <br />Very truly yours, <br /> <br />Dale J. Glowa <br />Senior Vice President <br /> <br />DJG/dgw r <br /> <br />c : ktatc ~schrodr ! ,doc <br /> <br /> <br />