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I <br /> I• • <br /> I <br /> ICLIENT PROFILE <br /> I <br /> I Lumber Baron's Hotel Receives "Suite" Deal in <br /> Stillwater, Minnesota <br /> I <br /> I <br /> The St.Croix Preservation Company,Inc.undertakes a historic renovation <br /> project of the Lumberman's Exchange Building on the St.Croix River in <br /> Idowntown Stillwater,Minnesota. <br /> I0 The estimated total project cost for the renovation/expansion is in excess of <br /> $4.2 million dollars.The project is comprised of a restaurant,lounge,conference <br /> Ifacilities,and 36 two-room suites with fireplaces and whirlpool baths. <br /> IThe St.Croix Preservation Company utilized PRG to facilitate,structure,and <br /> secure the company's financing needs including Bank,SBA 504,Tax Increment <br /> IFinancing,and City Equity contribution to complete the project. <br /> IUpon completion in the Fall of 1995,the project created over 30 new jobs,and <br /> new property tax base of over$80,000 annually. <br /> I <br /> I <br /> I <br /> i • <br /> • <br /> I <br />