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corporate employees; for instance, Best Buy, into Elk River from a different <br />location. The only way a speculative building could meet job goals is if it were <br />leased prior to development to business entities with employees, in which case it <br />would not be speculative. <br /> <br />5) The "but-for" analysis (Exhibit D) prepared by the applicant is incorrect in <br />numerous categories. When the proper corrections are made, it becomes apparent <br />that this project DOES NOT need a Property Tax Abatement. <br /> <br />I will be present at the public hearing this evening, June 10, 2002, 6:30 PM to discuss the <br />details of the subjects contained herein. <br /> <br />Gary L. Santwire <br />On behalf of Equity Management, Inc., <br />Rivers Crossing, Inc. and D. Russell Norha <br />and Linda M. Norha <br /> <br />Please distribute copies to: <br /> <br />Lori Johnson <br />Catherine Mehelich <br />Mayor and all Council Members <br />All E.D.A. Members <br /> <br /> <br />