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and further constraints put on the site by the said location as well as the topography and <br /> existence of wetlands on the property, Associated Developers proposes that the City <br /> provide pay-as-you-go Tax Increment Financing assistance for the following costs, which <br /> Associated Developers believes are clearly allowed under the requisite statutes: <br /> Pipeline relocation- section of natural gas pipeline located <br /> under proposed building $350,000 <br /> Insulation of trunk utilities to be assessed through the property 420,000 <br /> Installation of lateral utilities 207,000 <br /> 40% of soil corrections and grading costs 638.060 <br /> Total TIF Request/Eligible Costs $1,615,060 <br /> With the excessive cost of this development, which include wetland mitigation, excessive <br /> grading costs, relocation of the gasline easement, closure of the manufactured home park, <br /> the need to buy additional land (resulting from the location to Tyler Street and other <br /> constraints on the property) and other somewhat extraordinary costs associated with this <br /> development, the development is economically feasible only with the assistance. The <br /> assistance would make deals with the big box users economically feasible for both parties, <br /> thus jump-starting the development. <br /> • Please contact me so we can set up a meeting to discuss Associated Developers revised <br /> request for the assistance. I understand that you would like to bring this matter to the <br /> EDA's work session on November 9, 1998. <br /> I look forward to hearing from you. <br /> Sincerely, <br /> PELSTRING CAPITAL CORPORATION <br /> pit4a) pl <br /> Patrick W. Pelstring 4 <br /> Partner <br /> cc: Tony Gleekel <br /> Matt Fischer <br /> Dave McGillivary <br /> • <br />