5.0. 6.0. HRSR 11-22-1999 - Laserfiche WebLink

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3) Project schedule: • Our proposal for the King and Main site is contingent on the sale of our current prop- erty, and our schedule will suffer any delays that occur as the Rudy Luther family negoti- ates with the City of Brooklyn Park, and with the Joyner family, both adjoining property owners. We are told that the city may approve their plans during late November, allowing us to proceed with our move. Our proposed purchase agreement includes a quick closing, and leaseback during the construction period, to simplify our move. Our goal is to acquire the property shortly after closing,in the first months of 2000, and to begin construction during spring. Our business volume would be best least disturbed by moving during September or October. We require occupancy well before Christmas, 2000, worst case. 4) Tenants: Our business, Track of the Wolf, Inc., will occupy about half of the main floor space. The remaining five thousand square feet will be divided as necessary. We feel that spe- cialty retailers would be the best fit as main floor tenants. The upper floor will be ideal for professional and data processing users,preferably a single tenant, so security may be simplified. • 5)Project ownership: This project will be owner occupied. The owners will be David S. Ripplinger and Carole A. Ripplinger, 16413 County Road 14, Elk River, MN 55330. We have owned and operated Track of the Wolf, Inc., a Minnesota Corporation, for nearly twenty-eight years. Located in Brooklyn Park for twenty four years, we have moved three times as business volume has increased. We purchased our current site in 1982. The King and Main site will provide an ideal environment for business growth, and allow future expansion. 6) What do we expect from the HRA: While we are skilled at running our specialty business, we do not yet fully understand all of the benefits and opportunities afforded by working with the HRA. In discussions with our building contractor,bank officers, accountant, and financial advisors, they confirm that the King and Main site may be as attractive as a long term investment, as the location is for our business plans. We anticipate that the HRA will offer us an equal opportunity to develop this TIF prop- erty, and will offer us every benefit normally associated with this plan. We doubt that any • of our expectations will be extraordinary, or beyond the comfort of the HRA. We hope for easy and friendly negotiations,resulting in a program that will satisfy our bankers, accoun- tant, builder, the city, and our new neighbors.