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• <br /> neighboring cities of Elk River offering, in many cases, free or very low cost land <br /> opportunities. For this reason we thought it would make sense to propose to the city a <br /> collaborative effort that responded to that competition. We have a willingness, for the <br /> right user, to reduce our land price from$1.25 per square foot to $0.50 per square foot on <br /> the basis of the city providing property tax abatement that would effectively bring the net <br /> land cost to the user to $0. As discussed we feel we can do this for selective users that <br /> provide job goals that the city might have and we can also attach other parameters that <br /> make sense. We would view this request only for owner occupied building and we could <br /> then collaboratively market the remaining land parcels with these kinds of incentives. <br /> We look forward to your response on this and please call should you require additional <br /> information in this regard. <br /> Yours very truly, <br /> Richard V. Martens <br /> President <br /> Brookstone, Inc. <br /> Cc: Cathy Mehelich <br /> Kevin Maas <br /> Liza Robson <br /> Jim Winkels <br /> Dennis Cornelius <br /> RVM/th <br /> • <br />