HomeMy WebLinkAbout1989-06-13 Watson Ctrs Ltr to CA 06/15/89 10 $ 612 439 2878 EKBIO L B W & V 12 01
�iV 1 �yy
W/1TS0 N
CENTER
INC.
951 SOUlli F'I lS 111 C)ING, 1430 LJjQ gNLI~UL 561,171+, MINNLM'OLI'_,
(F12) S4h-I'lLf� • fA� IG1'1) .,44if?'16
Mr. Mark Vierling
Eckberg , Lammers , F rigr� , Wolff & Vierl ing
1.635 Northwestern F venue;
Stillwater, MN 55(62
RE. Application fc r Tax Increment Financing
City of Oak Pyrk Fie; i ght,s
Gear Mz. Vierling:
pl(- amend our ta.x increment financing app.licati,on as follows:
1) We ate r-eciues ;ing a ten year district with tax incri:ment
payments paid over the final eight years.
2) Amount of the increment ist to bo computed as fol laws:
ActUill Value - (BaSO val"N plus ,L'15c:al diSf
adjustment
3) inc:r es cal culat.od on a yearly 1,aS i. s
!few pul. - chase agr:ement wt1_.i. Lie fortl�. C:�,r,ltir ►c;. It:, fcir`m will "le
discussed . The 3urcr,a5*r I'sr. icr: will i.r�c. r cat:;:> erica the so l ].e r
wi 11 hold a notrta f -nm thi?, buyer •
Equity required by our lender will 5igniL"lit.,ly c xce"I thy:
present value of t - je 'ViF payments computed po'�r- i3ob Vot;o's
directions, i.e. $382,000.
We do request the -ity to allow the ()ri(Jinal Partriersrli.j,>
transfer ownershipas long as they retain a controlling interest.
I will be contactilg you to review these and any other items
which may concern ,you.
Sincerely,
Brad H enn ing
DR /d ys
. ST caol.- /nom T �
06/15/89 100 $ 612 439 2878 EKBO L B W & V a 01
LAW OFFICES OF
ECKSI'RG, LAMMERS, BR IGGS, WOLF'F VIERLING
1635 N0N7'IiWE5'fERN AVENUE
$TILLWATER. MINNESOTA 55062
IG12) +43$
L YLE J. ECKS FAX (612) 439 - 2v23
,JAMES F. LAMMER$
ROBERT G. @RIGGS
PAUL A. WOLEF
MARK J. vIERLING
VICKI L. GIFFORD
GREGORY G, GA LLER
FAX TRANSMIT'T'A FORM
C ?����
TO-
a..
PROM:
DATE: -
TOTAL NUMBER OF PAGES (including cover �he�