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To Whom It May Concern: <br /> I am writing this proposal so that the city and others concerned are aware of the situation of the <br /> property at 641 Main Street. <br /> Plat 405 Village of Elk River Sec. 34 T33N R26W E 56.5 Ft of Lot 2 Blk 4 <br /> This property has two buildings on it attached by a breezeway. 641 is on Main Street and has a <br /> renter with a one year lease at$800 per month. (800 Square feet main 400 square feet storage) I <br /> have had more than 15 potential rental customers inquire and express interest until they are aware <br /> of the unstable situation in the downtown development. I have not been able to sign a high <br /> quality long-term agreement. <br /> The other building facing the river houses three companies that I am involved with 1000 square <br /> feet. My intent was to expand this building to accommodate our growth. We have 5 full time <br /> employees and are growing quickly and are now in need of more storage space within Elk River. <br /> I have also had 4 folks inquire about selling the property without advertising...they also back off <br /> when they find out about the development plan. I am going to list this property for sale in the <br /> near future but wanted to contact the city/developers because it would be in their best interest <br /> to purchase this property now instead of later. <br /> I would consider an offer of$260,000 by June 15th if it would close within 60 days. I have <br /> attached a legal description and map.Please contact me for further information. <br /> S <br /> Richard Hinrichs <br /> Garage-Toys.com <br /> 641 Main Street, Suite#2 <br /> Elk River,MN 55330 <br /> 1-877-812-0272 toll free <br /> info @garage-toys.com <br /> 707-248-2608 Fax <br /> 5/20/2003 <br /> CONFIDENTIALITY NOTICE: This message is intended only for the person or entity to which it is <br /> addressed and may contain confidential and/or privileged material. Any unauthorized review; use, disclosure <br /> or distribution is prohibited. If you are not the intended recipient, or employee or agent responsible to <br /> deliver it to the intended recipient,you are hereby notified that any dissemination,distribution or copy of <br /> this communication is strictly prohibited. If you have received this communication in error,please contact <br /> the sender immediately and destroy all copies of the original message. Thank you. <br />