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r <br /> G R O U P <br /> 3 'go <br /> 410 <br /> June 2, 1997 <br /> Mr. Paul T. Steinman <br /> Director of Economic Development <br /> City of Elk River <br /> PO Box 490 <br /> Elk River, MN 55330 <br /> RE: Redevelopment Site <br /> King Avenue& Main Street <br /> Elk River, MN <br /> Dear Paul: <br /> Thank you for thinking of The Beard Group, Inc. and exposing us to the above referenced <br /> redevelopment opportunity. After leaving your office Paul and I revisited the site and did a <br /> thorough drive through of the community. Based upon those observations, our conversation and <br /> some additional review we believe that your inclination to find a way to get the first developer <br /> back to the table is the best strategy for your Authority. My experience has always been if the <br /> • Authority is able to get both the project it desires and money from a developer they should do just <br /> that. <br /> We didn't find any thing in our review that would make us question either the concept or scope of <br /> the proposed project. Enclosed for your review are copies of the project we are proposing for a <br /> similar site in Robbinsdale. The Robbinsdale project represents a more intense land use and <br /> addresses Robbinsdale desire to provide active senior housing in their downtown. <br /> Should you decide to move to an RFP please put us on your distribution list. Please don't hesitate <br /> to contact me with any questions or comments. <br /> Sincerely, <br /> The Beard Group, Inc. <br /> --VvITIram H. Beard <br /> President <br /> WHB\ <br /> Enclosures: <br /> 10 - 11th Avenue South Hopkins, MN 55343 (612) 930-0630 Fax (612) 930-0631 <br />