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Tim Gladhill <br />Deputy City Administrator <br />City of Ramsey <br />7550 Sunwood Drive NW <br />Ramsey, MN 55303 <br />RE: Riverstone South — Cost Share Alternatives for Riverdale Drive <br />Dear Tim, <br />This letter is in response to the Public Works Committee recommendation in connection to the cost <br />share alternatives for Riverdale Drive. <br />As you presented from the Staff Report, in Scenario 4a, an unallocated public contribution gap of <br />$117,750. The Public Works Committee motioned to approve a 1/3 — 1/3 — 1/3 allocation split between <br />the Pearson Family, Capstone Homes and the City on the County street frontage. <br />Pearson's position currently agrees to move forward with this recommendation scenario. <br />However, it is important that we continue to work together on achieving other funding sources to help <br />write down the costs. The PWC recommendation to contribute additional funds to improve the County's <br />street frontage it is not fair and equitable directly to Capstone Homes and the Pearson Family, since this <br />would improve the County property / street frontage value even more. We prefer that the 1/3 -1/3 - <br />1/3 dialog should be focused strictly on the Pearson property street frontage. This has been consistent <br />from the first time we started meeting weekly with City Staff for this potential future neighborhood. In <br />addition, our discussion we all had at the City Council / Planning Commission work session meeting on <br />February 11th, did not reference an allocation from us for the County street frontage area. <br />For reference purposes: <br />The Pearson's and I, have always said, we are grateful for the support and help the, City of Ramsey & <br />Staff has provided, in the development of the properties owned by the family. Simultaneously we have <br />said, for years, Riverdale section across the County property will need to be a cost born by the owner of <br />the property improved. <br />We appreciate the continued discussions on the assessment allocation cost sharing and understand the <br />many factors that will need to be accomplished as we move forward through this process. <br />Sincerely, <br />John Dobbs <br />Development Consulting Services <br />Pearson Properties <br />