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IfIETROPLAINS <br /> METROPLAINS PROPERTIES INC <br /> • m <br /> METROPLAINS DEVELOPMENT LLC <br /> " h o u s i n g t h e h e a r t l a n d " <br /> January 28, 2004 <br /> Catherine Mehelich A, 7 n- <br /> Director of Economic Development <br /> City of Elk River <br /> 13065 Orono Parkway <br /> Elk River MN 55330 <br /> RE: Pre-Development Agreement <br /> Dear Catherine: <br /> We continue to work through the issues of the development agreement. Like most <br /> development agreements they are complicated and take a fair amount of time for all <br /> parties to review, respond and negotiate the details. The development agreement with the <br /> HRA of Elk River is no exception. Although significant progress is being made some <br /> critical details remain unresolved and are continuing to be worked on. The Preliminary <br /> Development Agreement expires on January 30th. We also are continuing to be active in <br /> •' the process of securing financing and the details of just how this project would come <br /> together, which is equally complicated and takes more time than anticipated. We, <br /> therefore, request that the Preliminary Development Agreement be extended until March <br /> 1, 2004. We thank you for the understanding of the complicated details that a <br /> development agreement brings. <br /> We appreciate the continued coordination and team building with the HRA, City of Elk <br /> River and MetroPlains to realize this important project in the revitalization of Downtown <br /> Elk River. <br /> Sincerely, <br /> `r ;.- � <br /> —LaVerne Hanson, Jr. <br /> cc: Larry Olson <br /> Jeanne Kelsey <br /> Rick Martens <br /> 0 <br /> SPRUCE TREE CENTRE • 1600 UNIVERSITY AVE. • SUITE 212 <br /> ST PAUL MINNESOTA 55104-3825 <br /> 6., ,4(, 1848 3 i-AA oS I 046 0`,4 a :wwwrnetrODluu.0m. <br />