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I <br /> <br />August 12, 1985 <br /> <br />M & S DEVELOPMENT <br /> 1918 Ist Ave. So. o Suite D <br /> Anok~ Minnesota 55303 <br /> (612) 427-3386 <br /> <br />'1 <br /> I <br /> <br />Arm Norris - City Planner <br />](am.fey City Hall <br />Arloka, MN 55303 <br /> <br />Dear Arvn; <br /> <br /> I <br /> I <br /> <br /> I <br /> I <br /> I <br />'1 <br /> <br />This letter is written in request for tax increment <br />financing for the Churchill Estates apartment house <br />project. <br /> <br />This request falls within the guidelines in as much <br />as there are three areas to address. <br /> <br />^) <br /> <br />PONDING REQUIRED BY THE DNR <br />It is a 100 year ponding specification requiring <br />an usual amount of excavation. <br />Estimated Cost of $14,570 <br /> <br />B) <br /> <br />LANDSCAPING REQUIREMENTS <br />Of this site are out of the ordinary because <br />of excessive screening on set backs and <br />special treatments of river banks that must <br />remain as is per DNR specifications. <br />Estimated Cost of $27,460 <br /> <br />C) SITE PREPARATION <br /> Will demand a concentrated effort to raise <br /> the entire eastern edge of the lot to meet <br /> the needed drainage required by the State <br /> Highway Department, City of Ramsey, and the <br /> DNR. <br /> Estimated Cost of $22,463 <br /> <br />THE TOTAL PROJECT COST: $936,000. <br /> <br />The Tax increment financing request is $64,493 <br />or 6.8% of total project cost. <br /> <br />I believe the request is very nominal in comparison <br />o the allowance percentage. <br /> <br />~hank you for your time and consideration/~is projecl;. <br /> <br /> ' er y, <br /> <br />Leonard McLaughlin <br />M & S Development <br /> <br />I LMc:mb <br /> <br /> <br />