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Riverside Development Company <br />Pioneer Investments, LLC <br />LC Development, LLC <br />June 7, 2007 <br />Mr. Bill Maertz <br />City of Elk River -Parks Department <br />13065 Orono Parkway <br />Elk River, MN 55330 <br />RE: Spectrum High School-Park Dedication <br />Dear Mr. Maertz, <br />Phoenix Enterprises, LLC <br />CR Development, LLC <br />RAC Development Company <br />Attached please find a copy of the Park Dedication Exhibit for Pintail Estates First <br />Addition as part of the Spectrum High School project. Charter School laws and <br />regulations require that a holding company own the property. The actual purchase of <br />the property will-not take place until the permanent facility is constructed (no later than <br />2010). Spectrum would like to ask the City of Elk River to consider waving the park <br />dedication fees for Pintail Estates First Addition and enter into a "Joint Park" <br />agreement with the school. Please contact me with your comments. Thank you for your <br />help with this project. <br />Sincerely, <br />Edward C. ungquist <br />Riverside Companies <br />19230 Evans Street ®Suite 115 ®Elk River, MN 55330 <br />Phone: 763-241-1801 Fax: 763-241-1399 <br />