EDSR INFORMATION 11-09-1998 - Laserfiche WebLink

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PUBLIC RESOURCE GROUP INC. October 29, 1998 Business Development&Finance Specialists Mr. Paul Steinman Elk River EDA 13065 Orono Parkway Elk River, MN 55330 Dear Mr. Steinman: I am very proud of the professional efforts of Dennis Welch and Leonard Kirscht on behalf of Public Resource Group providing management for our Minnesota Community Venture Network. They have built this program into an excellent forum for matching businesses with prospective community locations and financing. Each for their own reasons, they have decided to seek employment elsewhere to further their professional careers. This circumstance provides us with an opportunity to evaluate the current operation and, 4IP(( structure of the Venture Network. if he principal focus of our efforts is to develop a process to , significant) u grade the i unlit of our business pros oects. We are currently in negotiations with a major Twin Cities based investment banking firm to structure a joint venture relationship to manage the Venture Network. We expect to complete these arrangements shortly. They have committed to work closely with us to help identify growing businesses and use the CVN resources as a part of their financial services. We are very confident that this will greatly improve the quality of companies that will be presenting during 1999. As we complete these negotiations, we are interested in your feedback on the program. We have enclosed a survey and we would appreciate if you would complete this survey and return it to us as quickly as possible. We expect to provide greater detail to you on the program by early November. In the meantime, if you have additional questions please contact me or Rob Tryon at (800) 642-6258. Sincerely, UB IC R UR GROUP, INC. Patrick Pelstring Partner cc: Dennis'Welch, Leonard Kirscht 4205 Lancaster Lane North•Suite 1100 • Minneapolis,Minnesota 55441 ♦(612) 550-7979 • (612) 550-9221 Fax ! .