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From: Matt Kuker [mailto:Matt.Kuker @psdlanddevelopment.com] <br />Sent: Thursday, September 11, 2014 10:47 AM <br />To: Pankratz, Brian L. @ Minneapolis <br />Cc: Val Kruger; Darren Kray; Mike Hatch; Tim Gladhill; Patrick Brama; Kurt Ulrich <br />Subject: Closing of purchase OL A & OL B, RTC 11th <br />Brian, <br />Per our discussions, I would like to delay the closing of the purchase of OL A & OL B, RTC 11 Addition <br />since we currently do not meet current zoning requirements. The HRA meeting went well on Tuesday <br />night, I feel more comfortable since that the City has stated that they look favorable for this project. In <br />protecting PSD's interests, I want to make sure this property can be used with the expressed intent for <br />development and concept plan that we have laid out. <br />I would like to amend the purchase agreement to read as follows: "The closing date of these parcels will <br />occur 5 days after the adoption of the ordinance that will revise the FAR ratio within the COR -1 sub <br />district. The FAR ratio will be revised in a way that the proposed development will meet all <br />requirements within the COR -1 sub district " (or other similar language to have the same outcome). <br />As stated above, we are still very committed to this project and feel it will be a great addition to the <br />COR. This change in language will allow us to move ahead and not have any surprises in the future <br />regarding parking. I have authorized our architect to keep moving forward with working drawings, this <br />work can be done simultaneously. <br />Sincerely, <br />Nate <br />R'uleen <br />PSD, LLC <br />Chief Operating Officer <br />7533 Sunwood Dr <br />Suite 315 <br />Ramsey, MN 55303 <br />Email matt.kuker @psdlanddevelopment.com <br />Cell 612 - 282 -9466 <br />Office 763 - 427 -5955 <br />Fax 763 - 427 -4151 <br />