Laserfiche WebLink
ra <br /> 19276 Vernon street NW <br /> (175/j1i1C7V41. <br /> BuIl01n9 too,Vernon PIaL Phone (612)441.4486 <br /> sr Eik Rlwr,htN ss3S0 Fax (612)441.6a3,S+ <br /> 21 May 1996 <br /> TO: Elk River HRA & EDA <br /> 13065 Orono Road <br /> Elk River , Mn. 55330 <br /> SUBJECT: King & Main Redevelopment <br /> We would like to propose the construction of a multi-tennant <br /> zero lot-line building on the corner of King and Main Street in <br /> downtown Elk River . The size of the building would range from at <br /> least 10 , 000 S . F. up to about 14 ,000 S.F. based on tennants ' <br /> space requirements and design constraints . Completed value of <br /> the building would range from $800, 000. 00 to over $1 million, and <br /> not be less than $800,000.00. <br /> Construction would begin as soon as tennant committments were <br /> firm, design completed and construction lending in place . The <br /> earliest anticipated start is late summer/early fall 1996 with <br /> substantial completion January 1 , 1997 . <br /> We understand that the Elk River BRA intends to create a TIF <br /> (-"h District to facilitate this project by way of land cost write- <br /> ", down and demolition. We could not undertake the project without <br /> such assistance , based on what we understand to be the present <br /> owners ' position on price. <br /> Because of the anticipated TIF assistance , we agree that if we <br /> cannot start constructionin 1996 and substantially complete it by <br /> January 1 , 1997 , that we must then delay construction start . In <br /> that event, we would not start construction before July 1 , 1997 , <br /> and would substantially complete construction by January 1 , 1998 . <br /> Land purchase of the 180 ' x 180' parcel would be a minimum of, <br /> $225 ,000 after buildings bought , site cleared , and soil- <br /> corrections made as necessary. <br /> We are prepared to immediately begin drafting discussions and <br /> enter into a binding redevelopment contract to commence the <br /> project. <br /> Th - You <br /> F TRANSMITTAL #of Pa as <br /> (-ct_A L r FROM: Fx"1Ik144- <br /> ennis . Chuba <br /> Phe Chu a Company CO: CITy • A <br /> DEPT. PHONE:(612)441-4488 <br /> FAX I 44/ , 94Z. F # (612)441-5635 <br /> COMMENTS <br /> • <br /> NITED 411 <br /> STATES '�3u�`�i <br /> NEW CONSTRUCTION & REMODELING BEAMILEaa <br />