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• <br /> /Ai'Vp- \ i'?„.1,=, ,-,:::.-''';';1.-,l'-'---Li"— -l-.-',.::, i,, , <br /> Design o Construction 0 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: ../. j%• <br /> �2L1 . <br /> 65,340 s.f. @ 1.25 $ 81 575 `— <br /> III <br /> 65,540 s.f. to .36 $ 25.522 <br /> $105,197 ,yea <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 /> Kevin G. Maas <br /> Director of Sales and Marketing <br /> 0 K9rnienclo5or <br /> H'"e';"'Me\elk""'\Gradient—PrellI�gprL;al,Qpc <br /> 11 VV`` HHwv. i3• Burnsville, Minnesota 55537 <br /> Phone: e52-890.1217<FAX. 952-890-0064 <br />