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M & S DEVELOPMENT <br />' 1918 lit Ave. So. • suite D <br />Anoka, Mlnneepta 33303 <br />August 12, 1985 (612) 427.3386 <br />Ann Norris - City Planner <br />Ramsey City Hall <br />Anoka, MN 55303 <br />Dear Ann; <br />1 <br />iI <br />P&POP/ 0 <br />This letter is written in request for tax increment <br />financing for the Churchill Estates apartment house <br />project. <br />This request falls within the guidelines in as much <br />as there are three areas to address. <br />A) 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 />B) 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 />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 />THE TOTAL PROJECT COST: $936 ,000. <br />The Tax increment financing request is $64,493 <br />or 6.8% of total project cost. <br />I believe the request is very nominal in comparison <br />to the allowance percentage. <br />Thank you for your time and consideration / ?fis project;. <br />��rrrc e r y C / � - - c k � <br />Leonard McLaughlin <br />M & S Development <br />LMc:mb <br />t <br />