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Design e Construction Construction Management <br /> January 14, 2004 <br /> Mrs. Catherine Mehelich <br /> Director of Economic Development <br /> City of Elk River <br /> 13065 Orono Parkway <br /> Elk River, Minnesota 55330 <br /> Re: Gradient Technology Proposal <br /> Dear Catherine: <br /> We are pleased to learn of Gradient Technology's proposed facility plans. We <br /> have prepared a site plan indicating 1.5 acres of prime property available for <br /> their proposal. <br /> The proposed purchase price, which is also the current listing price, is $1.25 <br /> per square foot, plus $.36 in special assessments. Thus, the property price is <br /> as follows: <br /> 65,340 s.f. @ 1.25 81,675 „�/ j <br /> • 65,340 s.f. @ .36 $ 23,522 G l <br /> $105,197 /0, (,fe <br /> With the goal of achieving a land cost for Gradient Technology of one dollar <br /> both Amcon Construction Company or the land partnership will consider <br /> assignment of a Tax Rebate Financing (TRF) note for reimbursement of the <br /> land cost. With this type of transaction we can also propose, under a <br /> contract, to deliver the facility "key" ready to Gradient Technology. <br /> With the limited information we have, we estimate the cost for a 13,000 s.f. <br /> block building and associated improvements to be in the range of $55-60 per <br /> square foot. <br /> We hope that this satisfies the preliminary information for Gradient <br /> Technology and would emphasis the built-in value of the Elk River Business <br /> Park property should remain significantly higher than the existing Big Lake <br /> Industrial Park. <br /> Sincerely, <br /> Amcon Construction Company <br /> 111111111111111117, 4 <br /> Kevin G. Maas <br /> Director of Sales and Marketing <br /> • Kgmfeclosure <br /> N:\real estate\eikrive\Gredient_PrefimG�opq.t�l.dac <br /> ill u Vv t�1t4vy. 13• Burnsville,Minnesota 55337 <br /> Phone: 952-890-1217•FAX: 952-890-0064 <br />