HomeMy WebLinkAbout1989-05-12 NAC Memorandum to CA & VTR •
northwest associated consultants, inc.
MEMORANDUM
TO: Mark Vierling/Robert Voto
FROM: Dan Wilson
DATE: 12 May 1989
RE: Oak Park Heights - St. Croix Mall TIF
FILE NO: 798.02 - 89.09
1. Proforma. The cash flow proforma provided is not what was
requested. I would like a spread sheet analysis on an
annual basis. It should provide a detailed source of funds,
i.e., rents, percentage rents, fee charges, etc. The
expenses should be in equal detail. I am looking for fixed
and variable operating expense along with all debt. The
intent is to be able to determine the shorL.fal.l on a year by
year basis.
2. Substandard. My copy of the submission did not include the
"statement of substandard conditions" identified as Item 7.
3. Developer Equity. I am still unclear as to how much and in
what form the developer's equity amount, would be. We cannot
compare the equity with the City's equity policy
requirements.
4. City Policy. It appears that the City's policy with regard
to fiscal disparity and developer equity would have to be
changed or ignored to allow this project to proceed.
4601 excelsior blvd., ste. 410, minneapolis, mn 55416 (612) 925 -9420 fax 925 -2721
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�C northwest associated consultants, inc.
TRANSMITTAL RECORD
DATE 12 May 1989
TO: Mark Vi er1 i ng
Fax 439 -2923
FROM: Dan Wilson
VIA: ( ) Mail ( ) Pick -Up ( ) Delivery ( x) Fax
TRANSMITTED ARE:
# OF COPIES/
PAGES OF DATED DESCRIPTION
1 St. Croix Mall TIF - Oak Park His 5/12 Memorandum
REMARKS:
RE : Oak Park Heights - St. Croix Mal] TIF
JOB NO. 798.02 - 89.09
4601 excelsior blvd., ste. 410, minneapolis, mn 55416 (612) 925 -9420 fax 925 -2721