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Memo Interviews W/Developers Suburban Chevrolet . . C I T Y o F HOP KIN S M E MaR AND U M DATE: April 6, 1994 TO: Honorable Mayor and City Council FROM: -;I)(Jim Kerrigan, Director Planning & Economic Development SUBJECT: INTERVIEWS WITH DEVELOPERS SUBURBAN CHEVROLET PROPERTY Recently the five developers that expressed an interest in the Suburban Chevrolet's property were asked to complete a questionnaire on the specifics of their project. Four of these individuals have now completed and returned these questionnaires. One developer has stated that he is no longer interested in undertaking a project. e The next step being proposed by staff is to have the City Council interview the prospective developers. This has been scheduled . for the April 12 workshop session as follows: 0 Marcus Corporation - 7 to 7:30 p.m. 0 Alan ChazinjLaSalle Group - 7:30 to 8 p.m. 0 Baton Corporation - 8 to 8:30 p.m. 0 Beard Group - 8:30 to 9 p.m. Each of the individuals has been informed that they will have approximately 15 minutes to make a presentation on their project. It is anticipated that the last 10 to 15 minutes will be used to answer questions from the council and staff. Sid Inman, a representative of Publicorp, a local consulting firm the city uses from time to time on development lssues, has agreed to sit in on the interviews at no cost to the city. Staff feels his expertise can provide an unbiased third party opinion on who is the best developer and also help to justify the Council's decision. Staff has prepared a list of potential questions which can be . used by the Council. An evaluation sheet has also been prepared to provide a basis for ranking of the various individuals. . It is proposed that the actual interviews be completed by 9 p.m. At that time it is recommended that the Council and staff discuss the pros and cons of each individual/firm and try to make a decision on which developer to select for the project. If such a ------ Honorable Mayor and City Council Page 2 . decision can be made that night it will be proposed that there be . an agenda item on the next regular Council/HRA meeting authorizing city staff to negotiate a preliminary development agreement with that individual. An option for the Council might be to identify two developers and then ask for additional information. A second interview may also be "appropriate following receipt of this information. If it is determined through the interview process that none of the developers are acceptable the following alternatives are available: 0 Solicit developers through a formal Request For Proposal (RFP) process 0 Informal solicitation of developers Finally, a more radical alternative would be for the HRA to build the movie theater and lease it to an operator. In this situation the city becomes the developer. Attached to this memo for Council review is the following: . 0 A staff prepared summary of the various proposals e 0 Information as provided by each of the four developers 0 Questions to be asked of the developer 0 Developer rating form JK03234J . . --- NA' "E OF SPECIFICS OF "El\ANT PROJECT C - DEVELOPER PROJECT IN}'ORMATION AND DEVEL- EQUIT) Baton Corporation 40 owner occupied, independent living, Baton Corporation feels secure in the Construction costs for the 331 Second Avenue North senior housing condominium units. marketability of the Condominium units condominiums is app!'~u. Minneapolis, MN 55401 based upon past performance of $2.24 million. CO!lIiU "e, 7,000 square feet of retail space. Citigables. Construction would be the retail is yet to be dele, Lindberg Pierce, Inc. contingent upon successful pre-sale of Developer equity in the - units. (4 - 12 month process) approximately $492,000 : Architects to come from Baton CQfi= Tenants for retail space are yet to be Richard-Zejdlik, owner. identified. ********************** *************************** **************************** ***************** Alan Chazin 8-10 screen movie theatre of Standard Theatres Inc.lSuper Saver Anticipated construction Alan Chazin Homes/ approximately 25 - 30,000 square feet. Cinema has tentatively approved the site, time is $2.5 million. LaSalle Group, Ltd. A restaurant is also proposed to be subject to a developer being selected. constructed on the site Potential users of the restaurant space Amount of developer <'-'. 5353 Wayzata Blvd. include "Caribou Coffee" and "Starbucks has not yet been lut!!iifif' Suite 602 Coffee". Other possibilities include a Minneapolis, MN 55416 "Boston Chicken" franchise. ********************** *************************** **************************** *********~*~~~*~~ Mark Senn 6 screen movie theatre of approximately Proposed tenants are Midcontinent Estimated total project,.: Marcus Corporation 25,000 square feet and a restaurant of Theatres, and Ciatti's or Spur's million. 1001 Wayzata Blvd. approximately 7,000 square feet on the Steakhouse. south parcel of property. If the grocery Developer equity is t;St'_ Suite 100 store project proceeds, they propose to The office component would include First $515,000. Minnetonka, MN 55343 construct a Bank building of Bank and RLK Assoc.'s, a local planning approximately 5,000 square feet on the firm. north parcel. ********************** *************************** **************************** "_' . '._.__"__'__0__'__'_'. .__.._.__.__._._ ~~~~~~~=====~==== ..-.-.---------------------------- Bill Beard 10 screen movie theatre, and a sit-down, Wallace Theatre Corporation is proposed Total estimated conSlIm" The Beard Group full service restaurant facility. to be the theatre operator. They presently are $2.76 million. 4606 Sunnyside Road have locations on the West Coast and Hawaii. Developer equity is to"," - Edina, MN 55434 $800 - $900,000. (30% ' The restaurant tenant wishes to remain project costs) anonymous until such a time as a formal development agreement is ready to be signed. . - - . . . . DEVELOPMENT QUESTIONNAIRE - FORMER SUBURBAN CHEVROLET PROPERTY Information submitted by: William H. Beard, President The Beard Group, Inc. 4606 Sunnyside Road Edina, MN 55424 (612) 924-0824 Specifics of project: (size of building(s), description, and proposed use) See attached Development Outline Tenant information: (proposed tenants and level of commitment) See attached Development Outline . Project costs: . 0 Construction costs? $2,760,000 Est. 0 Land costs? $ 0 0 Soft costs? $ 966,000 Est. Anticipated source of funds for 0 Equity? Tvpically 30% of Total proiect Cost Source? Land/Partner Equity 0 Debt? 70% of Total pro;ect Cost . Source? (Anticipated) Bank/Institutional e Rate/terms? (Anticipated) 9.5%/15 Yr Amort/ 7 Year Term Guarantees required? (Form) Guarantee from Citv will be required on permanent loan. - . . . . 0 Name, address, contac~ person for anticipated lender? No decision at this time. To be determined. 0 Anticipated public assistance? $Land Form of public assistance? See attached outline 0 Do you have ability to provide personal financial guarantees if required by lender? Partial Projects completed or in-process during the last three years: (If you have completed a number of projects, identify those which may be most similar to what you are proposing in Hopkins) 0 Name of project(s), location(s), specifics: See attached . . References: Provide name, address, phone #'s of at lest one individual In each of the following areas you have worked with in the 0 Private lending institution Name Mr. John Hermanson Address MidAmerica Bank 2104 Hastinqs Avenue Newport, MN 55055 Phone 459-9718 0 Public sector? Name Mr. Craiq Waldron City Administrator - City of Oakdale Address 1584 Hadlev Avenue North Oakdale, MN 55128 Phone 730-2820 0 Private sector? . . Name Mr. Thomas Kirbv President - MEC Contractors Address 5250 West 74th Street Suite 20 Edina, MN 55439 Phone 835-9077 - ...- -. - . ------..--. -- . . . . 0 Other? Name Address Phone Please attach the following: A) Experience of development team including: l. Resume of persons proposed to have either a development or ownership interest. 2. Detail any similar projects designed or built. 3. List contractors/consultants proposed to be utilized on this project. . B) Proposed timeline (based on a Development Agreement being executed July 1, 1994) . C) Other pertinent information you feel appropriate to provide. . . . . . . II C HOPKINS ENTERTAINMENT CENTER DEVELOPMENT OUTLINE MARCH 1994 OVERVIEW: Development or Downtown Entertainment Center on the former site of Suburban Chevrolet. The Entertainment Center would include a 10 screen, second run movie theater occupying approximately 30,000 SF and a casual theme dinner house occupying approxi~ately 6,000 SF. DEVELOPER: William H. Beard . President . The Beard GrouPf Inc. 4606 Sunr.yside Road Edina, MN 55424 (612) 924-0824 TENANTS: THEATER Wallace Theater Corporation 3375 Koapaka Street, Suite 345 Honolulu, Hawaii 96819 RESTAURANT The Restaurant Group wishes to remain anonymous until the Development Agreement is entered into. The Restaurant Group operates restaurants on a regional basis. The restaurant would be a sit downf full servicef casual theme dinner house. The seating capacity would be for 240. INCENTIVES: Land for one dollar ($1.00) City credit enhancement guaranteeing the payment the project's permanent debt service with some type of revenue sharing agreement until the City's guarantee lS no longer required. . SITE PLAN: We have been using for concept development . purposes the site plan produced by/for the City. A copy of which is attached. ~,-~I~'r-- :1.:-,'-,'"~:'':2 ~=;:~l~. ~.':i~.~. :\!>-l~-.~:=>~L~. ='-:~~~ 1 'j:2) I?:=~_I:~~:~~ . ::::::.~ I,~~~\ l~<~- -;--~ ------- . - . . ~ .... 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Z -J W i J '; ::2:!l I v z. J ~ ~ i ~ . j a: ;. ~ ~ ~ UJ . .. Cf) .! :! ;;,; "B j J ~ r::: :: a. < 0 1 :r: ,." . ~ . J,.::-...-;~'i~ ----..... - .._\ I I I I , (/) III , J ~ ~ .,.. a. 1 ,,; .. ~ <: 4' ;j '- -< , >< W ~ ~ :) 0 . . I Ul i I- .l - a. tJ) g . . - . . I N c WIWAM H. BEARD PRESIDENT THE BEARD GROUP, INC. THE BEARD GROUP, INC. William H. Beard, founded The Beard Group, Inc., in 1990 to provide development and commercial real estate brokerage services. The Beard Group, Inc. is a site location specialist for national/regional retail chains. The Beard Group, Inc. also provides consulting services to retailers/developers/owners from pre-entryjpre-development stages right through to project completion. MEMBERSHIPS: -International Council of Shopping Centers . -Childrens Museum of Minnesota - Executive Vice . President/Board Member -Economic Development Committee - Board Member Oakdale, MN -Metro East Development Partnership Saint Paul, MN PARTIAL LIST OF PROJECTS MR. BEARD HAS PERFORMED DEVELOPMENT/ LEASING/CONSULTING SERVICES FOR: Bergen Plaza A 280,000 SF center anchored by Shopping Center K-Mart, Rainbow Foods, Big Top Liquors, Oakdale, MN and Snyder Brothers Drug Store. Newport Landing A 16,000 SF retail and professional Newport, MN center anchored by SuperArnerica, Burger King and a large family dental clinic. Oakdale Crossing An 82 acre mixed use office/industrial Business Park park. Oakdale, MN . Gateway Development A 80 acre mixed use retail/commercial/ . Oakdale, MN housing project. ~~ ~~if~ '~j_~r;...~'\,;Sil~~ ~CE'.C. ~ji1~a, \tir~r;e5L:I~ ':"S~~~ ' ~ rj ~ 2": ')~~_~~ltS=~ ~ = ~~: . rj l.2.; ~j.~ ~ -"-: ~ ::.:.; .. ..---...-- ----~ . - . . Blaske Franchise Group Represented the Seller in the sale or Brooklyn Park, MN twenty-two ( 22) Burger King Restaurants in the Minneapolis/St. Paul area. The Newport Center 30,000 SF neighborhood center. Newport, MN Torchwood Franchise Represented the Buyer in the acquisition Group, Inc. of 15 Burger King Restaurants in Daytona Minneapolis, MN Beach, Florida. Sauk Rapids City Center 17,000 SF convenience center. Sauk Rapids, MN GameBusters, Inc. Turnkey project development from site Eagan, MN selection through build-out. Locations in Minneapolis and Denver. . Hardee's Restaurant Represented the Franchisee in the site . Big Lake, MN acquisition and Governmental Approvals. e . ... ..-------- ------ -~~ ARCUS al Estate Development ORPORATJON . DEVELOPMENT PROPOSAL ~ CITY OF HOPKINS SUBURBAN CHEVROLET SITE . . .. 1 COOl VVayzata Blvd. · Suite 100. Minnetonka i'v1N 55343 · (61 2) 593-1177 ------ "'1ARCUS . Real Estate Development fiORPORATION . . <:. . 'I:. ~ " city of Hopkins 1010 First street South . t~ Hopkins! MN 55343 Herewith submitted is our proposal to redevelop the former Suburban Chevrolet site. Our proposal outlines the phased ., r development of a cinema, restaurant, bank and office. It is our ::; assumption and desire to develop such in conjunction with a City " owlled arts facility. We feel that through a coordinated ~: - development approach, certain economics can be realized and common areas can be better assimilated to maximize utilization of <- the Site. ~. We feel all elements of the project are achievable under the f proposal as submitted. The only question remaining is if I additional financing measures will be necessary on the cinema I which is considered a single purpose building and not real r. . desirable from a lenders perspective in todayfs market. We feel, however, that with overall scope and nature of the project that hurdle can be overcome. Given the strong local base and commitment of our development team we have every hope that the city will designate us tentative developer so that we can proceed to more completely firm up all aspects and details of our proposed project. 1 I If you have any questions, I will make myself available at your 1 convenience to address them in an appropriate manner. I RespectfUllY" f I j , )?4z'4b~ I Mark O. Senn I MOSjbjm . . I i 10001 \Nayz3ta Blvd.. SUite 100 .lV1innetonka i'vlN 55343. (612) 593-1177 r- r , DEVELOP~E~ QUESTIONNAIRE - Fa~~ER SUBURBAN CHEVROLET PROPER'.ry . Return no later than 3/14/94 Please attach additional pages if necessary. specifics of project: (size of building(s) , description, and proposed use) Scuttl Side: 6 scre~~ ~~eatre approximately 25,000 Sq. ft. family restaurant approximately 7,000 sa. ft. Nor,-h Side: (de~end~~t on Tait's 5aD~ approximately 5,000 sa. ft. olus drive t..'"u:u prnr.c.:::or1ing) Ei t..'1er Side: office building approximatelY 25,000 sa. ft. decendent CP lr.r.~Tion or Cltv ~s facility. ~ - Tenant . <= . . (proposed tenants, and level of cornmit:nent) In.1..0rna1:l0n: Theatre: Mi.c.C:~ntine."1t Theac::es * (tentative) . Restaurant: Ciatti 's Inc. (S~ur's Ste~'1ouse) * (tentative) * Exclusive Pep . Bar..k : First 3ank * (firm) if Tait's redeveloces * Exclusive Reo I Office: RU: C: inn ) * L""<clusive Rep I Est,:....na tee.. I Project cos"ts; 0 construction casts? $ 5 , 150 ,000 0 Lend costs? $ Citv 0 Soft casts? (A&Er finance, legal, etc. ) $ 515,000 - p...nticipated source of funds for project: 0 Equity? $c:po f"'wr1pr-::bi~ Source? (name, address) . . $ See financing 0 Debt? Source? Rate/ter:ns? (anticipated) I Guarantees recuired? ( f Cl:t":n) -r -- - f , . . 0 Name, add::-ess, contact person for anticipated 1 . ? _enaer. Have not apf?rcached a lender ocher G.'1an ve.....ry preliminarv. Leakinc to First Bank, Miller Schroeder and/or consortium for financinc. Estimated 0 ~~ticipated public assistance? $ Land olus $1, 000 , 000 - Land Form of public assistance? TIF - other 0 Do you have ability to provide personal financial guarantees if required by lender? Yes p:::-ojects completed or l.n-process during the last three years_: (T-F -- you have completed a nmnber of projects, identify those which IDay be mos-;: similar to what you are proposlng in Hopkins) 0 Name of project(s) , location(s) , specifics: See Att:.2.ched . References: (P:r-ovide name, address, phone .!J.' of at least one rr S individual in each of the following areas you have worked with i::1 the past) 0 Private lending institution? Name eel Smi t.c'1jIlmy Hen.nen First Minnetonka City Bank 935-8663 . Address Mark Ouradnick First EarLl.::. Hopkins 936-2637 Phone Marshall MacE<ay ~et.::"osolitan Financial 922-3545 . Projects completed or in-process in the last three years: MARCUS 20,000 sq. ft. ( each) H.I. Enterprises Plymouth Retail Golden Valley service 10,000 sq. ft. (each) KinderCare Woodbury Retail Chanhassen Daycare Golden Valley 30,000 sq. ft. The Press Chanhassen Industrial 65,000 sq. ft. Metro Lakes Chanhassen Industrial 5,000 sq. ft. Met Financial Hudson, WI Retail-Bank 15,000 sq. ft. The New England Minnetonka Office . 12,000 sq. ft. Olson Building Hopkins Office . MlI-R,CO 7,000 sq. ft. (each) ciatti's 8 Projects Retail Restaurant 7,000 sq. .c..... Spur's Madison, WI Retail .1..'-. Restaurant Best Buy 10 Projects Retail 7,000 sq. ft. Pannekoeken 3 Projects Retail Restaurant 25,000 sq. ft. united Artists Maplewood Retail Theatre Entertain RLK 400,000 sq. ft. Park Nicollet st. Louis Pk Office/ Retail . 150,000 sq. ft. Target Chanhassen Retail . 300,000 sq. ft. Hartford Eden Prairie commercial/ Residential 250,000 sq. ft. ITT Plymouth Office __ _0__- . 0 Public sector? . S teve ~elJ.::.e City of Ho~kins 939-1326 Name .2l.J'..n Perry Ci ty of Minner.:mka 939-8200 Con AshwDr-,-"~ CiL.Y or G'1annassen 9j f-19UU p,_ddress Phone 0 Private sector? W. Thcrnas Brun.berg CPA's 545-2353 Name Bever1 y Kottas HI En:ccrprises 551-9702 Boo COT:t.lIlgLcn NovaC-are, iliC . :)4:J-)UUl. Address Grec:J Eswine Kince...rCare (404) 578-4232 Phone - 0 other? Name Nelson Berg Berg & Leaf 935-3425 Har::"'j Srru. t.h H09kL~s Eye Clinic 935-2020 Address Larrv Ccwell TwinWest Charnter 540-0234 Phone . . Please at"'c.ach the follcw'ing: -~ ) ::S.:.~pe!:""le!1Ce of . 1 . team including: c.eve.;..ccmeTlL. 1- resume of Fersons proposed to have either a develcsrnent or ownership in\:erest. 2 . Detail any similar projects designed or ' '1' DUl_L.. ] - Lis"'c. contractors/ccnsultants proposed to be u-l-~li..,.~,-1 ~.....----.....~........ on t.his project. 3) prcE:JOsed timeline ('cased on a Development fl..greemeYl"C. being executed July 1, 1994) C) other pertinent. information you feel appropriate to provide. .. . i ! ! i I i , t I . DEVELOPMENT TEAM Developer; Mark O. Senn, Marcus Corporation 593-1177 Architectural/Engineering; Dick Koppy, RLK 933-0972 Contractor; Reg Plowman, Marco Construction 484-5506 OWNERSHIP INTEREST - Theatre: Senn/Koppy/others Restaurant: Ciattifs Bank: First Bank Office: senn/Koppy/Others DEVELOPMENT CONCEPT ONE DEVELOPER FOR ALL ELEMENTS INCLUDING THE CITY ARTS FACILITY SO . THAT M&{IMU~ UTILIZATION fu~D COST SAVINGS CAN OCCUR AS WELL AS ! COORDINATION OF COMMON CONSTRUCTION ELEMENTS. i TIMELINE I start: Fall 1994 All elements completed: Fall 1996 . . -.- I . - RESUME MAR...T{ O. S ENN . . lliLqCUS CORPORATION I ! i I e . ~ -~ ..._---~-_.-._--- ---...- -. - - - . . e RESUME MARX o. SENN CURRENT POSITION: PRESIDENT, MARCUS DEVELOPMENT CORPORATION 1984-Present 10001 Wayzata Boulevard, Suite 100 Minnetonka, Minnesota Principal Shareholder MAJOR RESPONSIBILITIES: 1- Act as Real Estate Department for national, regional and local corporate clients. A. site Selection/Market Survey E. Tenant Improvement B. Leasing F. Space Needs Analysis C. Contract Negotiation G. Government Relations D. Contract Administration 2 . To create development opportunities. 3. Development of commercial properties for own portfolio. A. Retail Centers C. Office/Warehouse B. Office/Manufacturing D. Office . 4. Commercial build-to-suits for client companies. 5. Provide full services development organization acquisition, . government approvals, financing, development, leasing, management, etc. ~20R ACCOMP~ISHMENTS INCLUDE: Completed development of a large number of commercial projects and have retained a significant interest in the projects and their cash flow. Have developed (new construction or rehab) over millions of square feet of commercial property over this time period. PREVIOUS POSITION: PRESIDENT, FIRST CORPORATE REALTY SERVICES, INC. 1984 Minneapolis, Minnesota (a Division of First Corporate Services) * This was a one year committment MAJOR RESPONSIBILITIES: 1. Investment acquisitions. 2. Development of commercial and residential projects for company's portfolio and various investment groups and/or portfolios. 3 . Placement of interim construction financing and permanent . financing for development projects. tit 4. Packaging of syndications for commercial real estate ventures. i i . . PREVIOUS POSITION: GENERAL MANAGER, OXFORD PROPERTIES, INC. 1981-1984 Minneapolis, Minnesota ACCOUNTABLE FOR: st. Paul Town Square from start to finish. Minneapolis City Center - a 3 Million Square Foot Mixed Use Development project comprised of five segments: l. 52-story office tower 2. Major department store 3 . Approximately 100 shops and restaurants 4 . 600+ room hotel 5 . 700+ car parking garage Management of above and additionally IDS Center, Baker Center, and North star Center ~JWOR RESPONSIBILITIES~ 1. Development, completion, opening start-up and operation. 2 . Employees (300+ in management/operations) 3 . Leasing/lease administration . e 4 . Tenant/community relations 5. Financial reporting/budgeting ($35 Million budget - City Center alone) 6. Revenue/receivables 7 . operations (serlices and physical plant) 8 . Special projects as needed MAJOR ACCOMPLISHMENTS INCLUDE: l. Developed a top notch organization which is made up of top notch people with high morale and pride. 2 . Brought project in on plan and on time. 3 . Achieved occupancy levels far above plan (maximized revenues) . 4. Achieved top sales per square foot of all regional malls in the metropolitan area (maximized revenues-retail) . 5 . Packaged sale of tax benefits to syndicator, allowing removal or equity from the project and assisted syndications in marketing product. 6. Took the lead in successfully expanding downtown hours to compete with other regional malls. 7 . Achieved numerous national and international awards for project efforts: PREVIOUS POSITION: DIRECTOR OF DOWNTOWN OPERATIONS/DEVELOPMENT 1972-1981 st. Paul, Minnesota . e }, . I , - . ! i I I ACCOUNTABLE FOR: City's downtown operations, including development and operation of: 1. city-owned parking system 2. Skyway system 3. Town Square mall and park ! Development of numerous city identified development needs in the i downtown area and on commercial arteries. Functions include land i acquisition, project financing, project design and project management. ~JWOR RESPONSIBILITIES: 1. Development project leader for Town Square, a joint venture project owned by the City and Oxford. 2. Employees involved in operation of city parking facilities, skyway system, Town Square mall and park. 3. Attracting developers and facilitating city's development priorities and needs. 4. Land acquisition, project design, project management. 4Ia 5. Provide financing tools public/private to enhance projects ~ feasibility. _ 6. Downtown promotion and marketing. 7. Maximize revenues for city owned operations to provide impetus for future development efforts. ~~~OR ACCOMPLISHMENTS: 1. Completed numerous development projects in which city had a role, including Minnesota Mutual, 3M expansion, East and West Seventh Street revitalization, Science Museum, and numerous parking ramps and skyways. 2. Development and operation of joint venture Town Square project. (Overall project manager of joint venture effort.) 3. Developed promotions and marketing program for downtown st. Paul. 4. Developed parking system profitability owned by city to service shoppers, business and fringe parking needs. PREVIOUS POSITIONS: *While with city of st. Paul, I also held positions as: -Director of Administration -Project Manager 4It -City Planner *priar to joining st. Paul, I held several staff and faculty . positions at the University of Minnesota. ( . '. . *1 have an extensive background, going back to junior high school, development and managing commercial real estate (rental and i office) in conjunction with family owned operations. I EDUCATION: Graduated Hopkins High School ! B.A., University of Minnesota - Magna Cum Laude , Triple Major - Psychology, Sociology, Social Work i Graduate Work: University of Minnesota - psychology College of st. Thomas Management School-Business Management Hubert H. Humphrey Institute (University of Minnesota) Pubic Administration - OTHER DATA: 44 Years or Age Address: 7160 willow View Cove Married - two children Chanhassen, Minnesota 55317 Excellent health (612) 949-2272 Extensive academic credentials Extensive continuing Education 200+ hours of continuing legal . e education credits in contracts and real estate Licensed Broker O'!'B:ER ACTIVITIES INCLUDE OR HAVE INCLUDED: Board Member, Agrotec Corporation Board Member, Tutari Corporation City council Member, City of Chanhassen National League of cities Downtown council Membership Chair, Marketing Committee, Retail Committee, and Board Board of Directors and Executive Committee of Kaiser Roll Foundation Building Owners and Managers Association (BOMA) International council of Shopping Centers ( I CS C ) Lafayette Club Minnesota Gophers Touchdown Club HopkinsjMinnetonka Rotary Club Chairman, Excelsior Planning Commission Twin West Chamber of Commerce Executive Board - Boy Scouts of America Chairman, Challenger District - Boy Scouts of America Board Member, Tanka united Soccer Association . University of Minnesota Alumni Association . Board Member, Evans Scholars Alumni Association (References will gladly be furnished upon request) - . ~ - Developer Name Person Completing Form Superior Average Adequate Evaluating Factors Full Points 50% Points o Points Prior developer experience with projects of a similar nature or commercially oriented projects 20 points Level of public assistance (Higher points for less . assistance required) - 10 points - capacity to finance project 20 points Level of tenant commitment 10 points General comfort level with the developer . 20 points . TOTAL POINTS ... .-- ----. - QUESTIONS - SUBURBAN CHEVROLET PROPERTY REDEVELOPMENT . - Please note the following: 0 Primary questions to be asked first, secondary questions if time permits 0 Some questions may be answered in developer presentation 0 Developer has only 10-15 minutes to answer questions Primary Questions: 1. Would you require any additional public assistance other than a land write-down? How would you justify your request? 2 . What is the present level of tenant commitment? How long would it take to secure signed leases? 3. How and with whom would you anticipate financing this project? Have you had discussions with them about this project? Who would be signing the repayment note? - . 4. What other projects will you be pursuing while working on this ~ project? will this be a priority project for you? Please detail. Who will be responsible for coordination and project management? Secondary Questions: 5. What is the most recent large project you had financed and completed? How much? When? 6. Do you anticipate that a personal guarantee will be required to secure financing? Do you have the financial capability to provide such a guarantee? Please detail. Would your tenants be willing and able to provide a guarantee? 7. Would you be willing to provide a developer fee at the time a development agreement is executed to insure completion of the project (i.e. $5,000)? 8. How long would you anticipate retaining ownership of the project . - once completed? -- 9. How would you anticipate proceeding if selected? -...-- ----..-- -..- . . . Alan Cbazin 5353 Wayzata Blvd., Suite 602 Minneapolis, MN 55416 ~ City of Hopkins 1010 First Street South Hopkins, MN 55343 Attention: Jim Kerrigan . RE: Alan ChazinlLaSalle Group a Joint Venture Suburban Chevrolet Site Dear Mr. Kerrigan: Enclosed you will find our responses to your Development Questionnaire and other pertinent information as well. We look forward to an interview with the Ciry in the near future and being selected for this project. Sincerely, ?j;;:r ~. , L-"{ e~-:...:,;~ c t~..yt L~. Alan Chazin March 14, 1994 . . l Specifics of Pro;ect . Build to suit for Standard Theatres, Inc./Super Saver Cinemas, an 8 to 10 screen movie theatre approximately 25,000 square feet. In addition, we feel a restaurant component will work on the site as well. Tenant Information 1. Standard Theatres lnc./Super Saver Cinema They have tentatively approved the site subject to developer being selected then will enter into "serious" negotiations on a 20 year lease with additional options. - 2. Restaurants We have identified some potential users such as "Caribou Coffee", "Starbucks Coffee", or potentially developing our own franchise site with Boston Chicken as one example. Pr04ect Costs ( estimated) Construction Costs $2,500,000.00 e Land Costs 0 Soft Costs 500,000.00 This proposal only includes the Southern 2+ Acres of land. We hope to develope the Northern piece as part of a second phase with other retail/office uses to be determined. Anticipated Public Assistance We are anticipating receiving a clean, buildable site from the City of Hopkins. Financial Guarantees We have the ability to provide personal financial guarantees if required by lender. pro;ects completed with similar uses as proposed develoument 1. Hennepin Plaza 5000 Sq. Ft. Retail 2300 Hennepin Ave., Mpls. (Restaurant, Video Store) . Developed and built by Alan Chazin, owned by JAMTA Ltd. Partnership. This was a build to suit for the Muffin Man Restaurant located on a former gas station site. Built -. . . - - 1991. -See References for other projects by team. Anticipated Sources of Funds for prolect Equity A. Conventional financing with General Partners providing the balance as needed Sources 1- Norwest Bank MN, N.A. Old St. Anthony Office ~ 425 East Hennepin Ave. Mp Is. , MN 55479-2060 Glenn Sansburn 2. Century Bank 11455 Viking Drive Eden prairie, MN' 55344 Shel Wert, Presient e -Specific terms to be determined B. Private Placement Raising the money needed with a group of private investors. This is our preferred method for this project and we anticipate investor interest in this project to be high in conjunction with the General Partners. References -Private Lending Institution Norwest Bank - Glenn Sansburn 667-2653 -Public Sector Dept. of Housing and Urban Development c/o John Buenger 370-3000 City of Richfield Mr. Jim Prosser 261-9700 e City of Minnetonka Ms. Ann Perry 933-2511 MHFA-Housing Finance Agency Bob adman 296-7608 -- __no -- . DeveloDment Timeline March 14, 1994 Questionnaire submitted April 12, 1994 Interview/selection with Hopkins Negotiate with tenants, develop plans, arrange financing Development Agreement - July I, 1994 Start Construction September I, 1994 We anticipate a 6 month construction period. - Contractors/Consultants Architect Baker Associates General Contractor Alan Chazin Mechanical HVAC Horowi t z , Inc. S2.er.::trical Electrical Service e Site TNork G.L. Contracting e . PROFESSIONAL PROFILE THOMAS W. LASALLE LASALLE GROUP, LTD. PRESID ENT Thomas LaSalle has been involved for more than twenty years in develoPIIlem, financing, and management of real estate, primarily through two corporations - LaSalle Management Group, Ltd. and LaSalle Development Group, Ltd. - wholly owned by him. LaSalle Management Group manages approximately 40 properties in several states, employing approximately 250 people in the management of approximately 3,000 units and produces annual net revenues in excess of $30 million. LMG also manages approximately 600,000 square feet of commercial office space and a 150 . room Hampton Inn Hotel. LaSalle Development Group has been very active in the development of a wide variety of projects. including the 208 unit Nokomis Square Cooperative, Historic Bremer and Bremer Way, a 24 unit rehab of Bremer Elementary School and 77 unit elderly condominiums, aU of them market rate properties. Mr. LaSalle is a partner in the Edinborough project, a 26 acre development in Edina, Minnesora comprised of 392 condominiums, 103,000 square feet of office space, 203 unit congregate care senior building, and an acre enclosed park. Mr. LaSalle was formerly with Shelter Development Corporation and Landtech Management Corporation in various management positions before establishing his own company in 1975. Active in the industry, he is past president of the MiIlilesota Multi-Housing Association and has served as a director of the National Apartment Association and the Institute of Real Estate Management. He is a licensed real estate broker and a member of the Board of Realtors. Mr. LaSalle is a Certified Property Manager, and LaSalle Management Group, Ltd. is an Accredited Management Organization by the Institute of Real Estate Management. . -- - - PROFESSIONAL PROFILE WILLIA1'vI L. BRUSMA1'\l' LASALLE GROUP, LTD. VICE PRESIDENT William Brusman has been involved more than 15 years in the development and financing of real estate and in che area of real estate development coordination and management. Since joining LaSalle Group in 1984, MI. Brusman has been the project coordinatOr for the Etiinborough illLxed-use project (offices, city indoor park, extended stay hOte! and senior rental housing) in Edina, Minnesota, and project manager for che 150 room Hampton Inn Hotel located in Richfield, MinnesOta. He is currently serving as Owner's Representative and project coordinator for the Sinsinawa Mound Renovation project for the Sinsinawa Dominican Sisters, and the e Adrian Dominican Sisters durinS!: the multi-building renovation of their Motherhouse campus in Adrian,- Michigan. He is also serving as development consultam to Epiphany Pines Cacholic Church as they construct a lO9-unit apartment project for seniors located in Coon Rapids, Minnesota. Prior to joining LaSalle Group, Ltd., Mr. Brusman was Senior Housing Underwriter for the Minnesota Housing Finance Agency from 1975 to 1978 and Vice President of NortWand Mortgage Company's Government Finance Division from 1979 to 1984. Mr. Brusman received a BA degree in sociology and economics from Illinois Wesleyan University, and a :VIA degree in urban planning from the University of Minnesota. . - - REFERENCES-LASALLE GROUP BRANDYCHASE CONDOMINIUMS - James pronger, President 2254-E Benson Avenue St. Paul, MN 5511.6 H- 699-9311/W- 733-0289 CALHOUN ISLES CONDOMINIUMS- Greg Dolphin, President 3145 Dean Court, #1100 Minneapolis, MN 55416 H- 924-0397 CALVARY CENTER APARTMENTS- Marlys Wurdelman, Pesident 3725 Union Terrace Plymouth, MN 55441 . H- 546-2934 CALVARY CENTER COOPERATIVE- Jerry Walder, President 7600 Golden Valley Road Suite 1101 Golden Valley, MN 55427 H- 544-5667 FAIRWAY WOODS- Al Bruce, President 14388 Fairway Drive Eden prairie, MN 55344 H- 934-9151/W- 941-6401 ROLLING MEADOWS COOPERATIVE- Diane JlBess'I Rassman, President 3206 East 78th Street Inver Grove Hghts, MN 55075 H- 457-7681 . -- --- -- Alan Chazin 5353 Wayzata Blvd., #602 Minneapolis, MN 55416 Representative List of Developments 1978 - Runny Meade Estates - 28 lots - Minnetonka Land Development & House (eus tom) Construction County Road 73 & Runny Meade Lane - 1981 - Chow en Bend Townhomes - 32 uni ts of Section 8 F ami I y Housing Burnsville, MN - 126th & Chowen 1983 - Whittier Townhomes - 12 units of Section 8 Family Housing Minneapolis, MN - 335 E. 25th Street (design/competition) 1986 - Braemar Sports Medicine Center - 10,000 Sq. Ft. e Medical Building 7201 Washington Ave., Edina, MN 1987 - Cedar Hills West - 143 apartment units - Market Rate Rental Housing 11100 Cedar Hills Blvd. , Minnetonka, MN 1987 - Cedar Hills East - 131 apartment units - Market Rate Rental Housing 11050 Cedar Hills Blvd., Minnetonka, MN 1990 - Hennepin Plaza - 5000 Sq. Ft. - Retail - Bui 1 t , own, manage 2300 Hennepin Ave., Mpls. , MN 1993 - Woodhill Pond - 3 lot subdivision for single f ami 1 y 4509 Woodhill Road, Mtka. , MN Currently actively building custom homes throughout the Metro area. . - - References of Alan Chazin Norwest Bank - Glenn Sansburn 667-2653 Scherer Brothers Lumber - Roger Scherer 379-9633 - Lehrman, Lehrman, & Flom - Stan Eisenberg 546-5306 The Plumb Shop - Walter Buchman 588-4707 Horowitz Mechanical - Larry Swanson 533-1900 . . - - Develooment Team Developer: A joint venture of Alan Chazin (Alan Chazin Homes Inc.), and LaSalle Group Ltd. Please be advised that Mr. Alan Chazin of Alan Chazin Homes Inc. and Mr. William Brusrnan of LaSalle Group Ltd. are the developer representatives and will be available on a full time basis during the development process. - Owner: A partnership to be formed consisting of the principals of Alan Chazin Homes Inc., and LaSalle Group Ltd. Builders: Alan Chazin Homes Inc. - A general contractor Design and Inspecting: e Architect: Jon Baker - Baker & Associates Financial Services: Norwest Bank - Glenn Sansburn Marketing Services: Towle Re:ll Estate - Linda Zelm . . r~"l":\;r':""' BAKER ASSOCIATES, INC. ARCHITECTS A.I.A. . .~ "-'7-1 ~ -..,~ . 'if: 'i :1::. i. g ~ ::: ~ :- ~~j ~ '~1.~" f' ..," ~ ~ ;~~u ~. 514 NICOLLET MAll. SUITE 420 · MINNEAPOLIS, MI NNESQT A . TELEPHONE 339-8601 ~'~"""..;,..'r1~. f.i.1-....._ ......;,.....~.'J February 15, 1994 Mr. Jim Kerrigan Director of Planning & Economic Development City of Hopkins 1010 First Street South ~ Hopkins, MN 55343 Re: Suburban Chevrolet Site Dear Mr. Kerrigan: Baker Associates, Inc. is the Architect for the joint venture proposal by Alan Chazin Homes, lnc. and the LaSalle Group Ltd. to develop the site located at 1100 -1124 and 1105. 1121 Main . Street. As per Alan Chazin's request, with this letter we transmit office brochures illustrating the experience of our firm. In addition to the commercial work illustrated in our brochures, we are also experienced in the design of facilities for performing arts groups. We have recently completed work for the Jungle Theater, the Hennepin Center for the Arts and the Minnesota Orchestral Association. We have also done work in conjunction with the Exhibits Department at the Science Museum of Minnesota. In 1991, Baker Associates, Inc. received the Honor Award for Excellence in Mason!)' Design and Construction from the Minnesota Concrete & Masonry Contractor's Association for both commercial and residential construction. The commercial construction was a project developed and constructed by Alan Chazin. Please do not hesitate to contact me if you need any additional information or have any questions regarding our firm. Sincerely, BAKER ASSOCIATES, INC. J~\.D~~ Jonathan D, Baker, AlA President . Alan Chazin ~ cc: . . .~ f ~ '. . . ~ .' . . -'- , ,~ , ", J '.. ~ ';." "I. ". -";-.... .. . " -. - '. . ;.r . -- ., .' ~... . '.. .' - .- -- _", ~'.: .L. . n\,:: , ... -<-. : . .. "...~ ~ '" - .,. . .~ I ..:r,.-:. .-..\." . ..; . ~ .. - ~.~ .. ~ " , r .. . . . . I~.... . ~ I ". ~ ..-' ',. - .. " . .. _. . --- - BATON CORPORATION "" . 331 Second Avenue North - Minneapolis, MN 55401 612-341-2886 February 3 , 1994 Mr. Jim Kerrigan, Director of Planning City of Hopkins 1010 First Street South Hopkins, MN 55343 - Re: Suburban Chevrolet Property South of Main Street Dear Jim: It 1S with appreciation and enthusiasm that we respond to the City of Hopkin's willingness to consider a mixed-use development of retall and owner occupied, multi-family houslng on the former Suburban Chevrolet property. . Baton Corporation 1S a Minnesota Corporation of 18 years standing and has over that period constructed over 1200 housing units. We a~"" structured to accomplish our own ... - construction, marketing and management. We have associated with Lindberg Pierce, Inc. Architects for the planning and design of our proposal. Together we believe our team brings a very high level of experIence, design insights and capacity to perform. The proposal we have developed 1S for 40 condominium units and approximately 7000 square feet of retail space. Our analysis of this site and the Hopkins market as we perceIve it has lead us to believe that condominium units similar 1n design and character to the CitiGables Condominium responds to a continued demand for owner occupied, independent living, senlor housing In downtown Hopkins. We believe these homeowners will lend positive support to the vitality of downtown Hopkins. Although we are a little less secure with the market for retail space we believe with a more In depth study to look for potential need, additional team members expert 1n this area and an aggressIve approach to leasing we can make thlS part of the development a success. We are also receptive to . having the performing arts facility on this site, 1n lieu of the retail portion of our proposal, should the City decide to build such a structure. -- ~ We of course look forward to working with the City Council, HRA, City Staff and other appropriate parties in refining and tailoring our preliminary design to achieve the most appropriate Ifit' into the community. We would welcome the opportunity to amplify on the elements or this proposal and look forward to the possibilities of presenting this concept, team and development schedule In greater detail. Sincerely, - S2: --:::=78-'--_ ~L . ~ c~l___- L Steven L. Embretson Development Coordinator . . DESIGN" DRAWINGS ~~--,-"'-"J ,I!,($.sTREEr -",<"J v-vo- ~ I lL ......, ~~ S~-j ~ f"Ef?IJ L . '- ~ I crrJoN"L 'Z. JfWt i ~N!:1~J ~ ~ ~ ~If- f7'(Nt& ~ ....,..,. ...Jtf.l(rcE ~ I ~ - i ji.;-~ (J . 'l ~ ~ ~....E- ~ l".pI"""---'::' i I ~ 4u 0NCq.jINIUM LN fFb /"C::'N'E- ~ ft~N9. C-iJ~ f7iNt*; I ~ CV::"'=' ! . .. ~N3ct~C~ ~~/U~ 1 [ sue;,~-"N Gt"BI~LE-r...sIT? D~LPr~E:NJ ~ . ~\olH'T",;~N ~FJ6l~ 1'-11t04t-l~~ " N.J ' '. . ;" ~..,.N ~~..-N:~ ~. 3:J .;..t7 "'l:> 1,_ _ I.~ r'le';:::e; ~ II ""'" ri" ~ ~:l'-~I - ~ I . PROJECT DATA RESIDENTIAL BUILDING The condominium section will consist of twelve (12) 2-BR/2- Bath units and twenty eight ( 28) 1-Br/Den/1-Bath units for a total of forty (40) units. All units will be ln one three story building over enclosed parking. One bedroom units will be 1184 square feet and two bedroom units will be 1260 square feet. Major amenities include a low maintenance exterior,_ site lighting, extensive landscaping, underground sprinkler system, private decks, heated parkJ.ng garage with a mJ.nJ.mum of one stall per unit, elevator, secured entries, separate community and craft rooms, fire sprinkler system, decorated common areas, all kitchen equipment, laundry hook-ups within each unit, aJ.r conditioning, extensive soundproofing between units, energy efficient construction, oak trim and cabinets, and various customizing options. . Projected sales prl.ce ranges from SSO,OO to $95,000. Average sales pr1ce includl.ng options and upgrades 1S ." expected to be approximately $85,000. RETAIL BUILDING The retail section will consist of a single one-story building approximately 140' long and 50' deep. The building would be constructed to allow flexibility in the width of a bay depending on tenant needs. Our plan calls for twelve ( 12 ) off-street parking spaces. Amenities will be determined depending on tenant needs. PURCHASE PRICE Baton Corporation offers $3,500 per residential unit ($140,00) for the residential portion of the property and zero to $6.00 per square foot (-0- to $108,000) for the retil portion depending on specifics. Our offer assumes the City will be responsible for clearing the site, excessive soil correction and removal of any contaminated or polluted . soil. I DEVELOPMENT SCHEDULE RESIDENTIAL BUILDING Step 1 Develop and finalize a development agreement. Step 2 Begin sales and marketing program. If sales efforts prove successful we would proceed to Step 3. If sales efforts are unsuccessful we would look for alternatives or relinquish our development rights to the property. ~ Step 3 Apply for necessary zoning and conditional use permit. Step 4 Final financing commitment. Step 5 Finish working drawings and specifications. step 6 Secure building permits. Step 7 Construction. . .. Marketing and pre-sales will start immediately after Step 1. We would anticipate Step 2 to take four to twelve months depending an the strength and size of the market and the pre-sale requirement of our construction lender. We anticipate the pre-sale requirement to be 70% or 28 units. We estimate Step 3 to Step 7 to take approximately three months. Step 7 would take approximately eIght months. RETAIL BUILDING I The schedule for developing this portion of our plan would proceed concurrently with the residential building schedule. Complete working drawings, application for a building permit, and construction could not begin until a significant portion of the building has been pre-leased. We intend to begin marketing thlS space concurrently with the marketing schedule of the residential building. . . . QUALIFICATIONS OF THE DEVELOPER Baton Corporation is a Minnesota Corporation formed in 1976 and is owned in whole by Richard F. Zejdlik. Baton was formed to continue the work of O.M.Z. Corporation which was dissolved to reflect new ownership. Baton Corporation, as was O.M.Z. Corporation. is principally engaged in real estate development, construction, financing, property management and real estate sales. - History The history of O.M.Z. Corporation and now Baton Corporation in housing development dates back to 1968. At this time the '. prime objective was to organize and promote profit motivated construction projects through the Department of Housing and Urban Development's sponsorship of Turnkey Public Housing and FHA 236 projects. The apparent advantages of . participation through investment In such projects as HUD 221-D-4, HUD 231 Elderly and HUD Section 8 altered the original objective and led to the present situation of Baton Corporation. Mr. Zejdlikts experience In housing IS particularly broad, dealing In every type of accommodations for people of all ages and Income levels. Designs include single family residences, duplexes, and multi-family facilities that range from a ten unit townhouse project to a 220 unit high-rise apartment complex. The Mission R.P.U.D. In Plymouth, Minnesota entails the design of a tthousing community" consisting of a combination of townhomes, apartments and commercial facilities. This broad exposure In housing IS further exemplified by the successful execution, programlng, design and systemizing necessary to construct a factory that pre-assembled single family, low income homes at a rate of two per week. Increasing evolvement in housing has provided the developer with insights into all aspects (i.e. feasibility studies, programming, design, financing, construction and management) and is continually enhancing their level of competence in this field. . ~ - . Richard F. Zejdlik, President Richard Zejdlik is a architect and a former partner in the firm of Zejdlik, Harmala, DeLapp, Inc. J Architects. He attended St. John's University and the University of Minnesota and received a Bachelor of Architecture degree from the University of Minnesota in 1953. Early architect exper1ence included a executive position with a maJor Minneapolis based architecture practice which was incorporated as Zejdlik and Harmala, Inc. , in 1961 and was Slnce expanded and added other partners. Mr. Zejdlik 1S active 1n development of housing projects In both the public and private mark.ets. He IS president of Redevco Inc. which is a real estate development company establlshed in 1965 to promote, develop and manage privately owned housIng projects. In 1968 Mr. Zejdlik organized the O.M.Z. Corporation, a general contracting firm, to perform construct10n activities. The activities of this corporation were taken over by Baton Corporat.ion to reflect new ownership. Mr. Zejdlik currently hold the following positions: e President - Redevco Inc. (Property Management) President - Baton Corporation (Developer, General Contractor, Real Estate Sales) He 1S a registered architect 1n Minnesota, North Dakota, South Dakota, Wiscons1n, Iowa and Illinois. He IS a member of the American Institute of Architects and holds a National Council of Architectural Registration Board Certificate. Randolph M. Zejdlik, Vice President Randy Zejdlik attended the University of Minnesota and received a Bachelor of Architecture 1977. He received his Minnesota State Real Estate license In 1980. Randy gained experIence in construction superVISIon and carpentry working for Baton Corporation and the Lundgren Brothers Construction Company. He now acts as Vice President for Baton Corporation and IS responsible for project costs, job SCheduling and job procurement. He 1S also responsible for overall management . of Redevco Inc. - . - Steven L_ Embretson, Development Coordinator Steve has worked in the home building business as long as he can remember. His experience ranges from laborer and carpenter for his father's home building business, to his position as Development Coordinator and Marketing Director for Baton Corporation. He has been involved in a wide variety of projects including single-family, historical re- habs, and multi-family [condominiums, townhomes and apartments] . Steve lS a licensed real estate agent in the State of Minnesota. He lS a member of the Minneapolis Area and National Association of Realtors. Steve received his degree from St. Cloud State University in Economics, where he also completed substantial course work in the Business College. After graduating in 1981 he worked for his father's home remodeling company before joining Baton Corporation in 1982. . . 03, ~~! '94 04: 17 ID:8ATON CORPORATION FAX:341-4255 PAGE 4 r-m 14 '94 14: 13 CO"'MERCIF=L REHL ESiATE P.2/2 - - - .,,- NofMIt a.ni lJiN'JtJBoaI.. N.A. Sf, Ptl;1 awoe oM !&It Fifth ~ $i. PlUI, Alln"... 55707 !12Jm.ZZl1 MIlt;b 14. t 994 r , Mr. Jim. Kmijoo Direcw of P1an.a.Jq City ofHopt:lns - 1010 Fim Shet SoWl H~.~ 55343 Re: Subw'baa ChllVTOlec Property 40 unifS ofReaid.entia.l Howlng & 1000 5f ofR~l SpaC4l Dear Mr. KMigon 'Mr. Richard ZoQjllk. h.ii ukDd us to inform you of Ill;: nll1ure and. quality of our ftnancml N1aLiOlUhlp. Norwc$t l3cUc Mi:lmuoU. St. Paul Office, h.ti prcvldcd interim con~tructlon t1n.a.o.clng 1n the amount of e $2,1S0M forthc .49--wtit condomicium lOQ~d In Hopir;.ins hOWD u CJti&able&. T'h.ll project \lIU complcbld 011 time and the Iou repaid shead o(tho iChcdulerl maturity. We currc.at.ly baVll a SjOOM revolYini line of t;tCdit to Ri~d Zejdhl: pmonally. Th= line i!; h.an.dlc:d A.S ~od.. Mr. ajdllk ls"& wlu.cd T1llatiwahlp cU5t01Iler ofNorwest. Riohard ~Ik: b.u demOrlitrlltBd the ability tc c:omp!.e!e quality projects, within the proJao:;t:cd bu4liet a:td <m time. Norwe8t 8W Mlm1c50ta. St Paul Offu:.e, .h.as not I'el!;C1ivod nor reviewed i. rcqu~t for financing for the CiootmlpllLed project. We $ willlnj to COll.'lid.r:r providin~ interim alllltruGUon fUWlCinj fer the projoct I.nd ill.'o'olvin& Norwlllt Mo:tg8.ie, lac. In the pmmlnont tla8.llci.ca nee~ afth.r:l P\ll'OwetS ofindlvidulll uniu, Thia is.aot _ ~itnl*nt to furu:I tho COIncmpla~ prol~t. If you Aced add.itionaJ.1n:furmll1on. plllue f"' freeS to c;onl.a.cl me at 291-4747 Sln~ly, Jean M. Nelson Aumant Viu President . 03/14 '94 <:)4:16 ID:8ATON CORPORATION FAX:341-4255 PAGE 1 . . D~LOPMENT OUESTIOHNAIRE - YORKER SUBURBAN CHEVROLET PROPER~I Return no later than 3/14/94 Please attach additional pages if necessary. Specifics of project: (size of buildinq(s), description, and proposed use) See att~~~ BQokfp1"h ~ Tenant information: (proposed tenants, and level of commitment) . See attached Booklet. Project costs: 4-0 Unit Senoir Condominium 0 construction costs? $ 2.2~O.OOO.OO 0 Land costs? $ 140.000.00 0 Soft costs? (A"E, finance, legal, etc. ) $ '" 91 ~OOO.OO Anticipated source of funds for project: 0 Equity? (for construction) S 492.000.00 Source? (name, address) Baton CorD./Rich"nf 7.:ejdlik . .331 Second Ave. N. Mpls.. MN 55401 0 Debt? (for re1~'d) $ to be determined Source? Norwest Bank Rate/terms? (anticipated) Market Guarantees_required? (form) Lett~r of cr~t ~.,.,- - EXPERIENCE - Baton Corporation - . " - < ~ oJ . CITIGABLES CONDOMINIUM A forty-nine unit for-sale condominium building for HOPKINS, MINNESOTA persons 55 and older. Construction started January 1989. First unit closed in October 1989. Forty units closed by November 1990. . . EXPERIENCE Continued . . TOWNHOMES OF CITIGABLES Fourteen for-sale townhomes in two buildings. HOPKINS. MINNESOTA Construction started September. 1987. First unit closed August. 1988. All fourteen units closed by December. 1989. ---- SA'TON l;UKPUKA ftUN 1976 \1977 11978 \ 1979 1980 11981 11982 1983 1984 11985 11986 11987 198: ";~;~~~'~:~~~;';";;;;:I~~'~:.~;;;~""""" ...........~I'..-.......I.......... ........... .......... ...........1.......... :..........II....~--- 52 rental units. 1i3rd ll!1q Orcharct. ' < (built in 1972), S1.a mIllIon . I I T~\VN SITE HO~lES..~~;~;~~;,.~:~;;~:::::... ...........Lr..........t.......... ........... .......... ........... ..........I......~___.~I.____~___ 15 rental units for the elderly S230.00~.00 I I ....................... ..........1.......... ........... ........... .......... ........... ..........1.......... --- . _I _I ---- C?t.NDO ELDERLY. Cando. North Dakota 20 renm! units for the e!cterly S290.00~.00 I , ~?~\~Par~n1~.f~;~~;t~:~~~:........ .......... .......... ...................... .........-..j'---.-------L,--------.--Lf--------..--r-.c -- 51.7 million . I ~O::;:;f,?nit~1o;~~~iiJ~1y~::::---.~I~~~-~~====1====------jJ-----------r-.--------1'----.----_-Lr,._--------J1-=--------"1=-. -- 52.2 mllhon r HIGHWOOD. Prior Lake .i..........1........... ...........r...........r..........r..........,'.-cc - 36 ~ection 8 familv rental units 51.3 million . I I - ----- I l I I WENTWORTH. :.1inneacolis 26 townhomes. 43rd and Wentworth 51.6 million J . .:. '-- · ~- . I ~TEVEl'IS SQU. ARE. ~linneacolis J lownhomes. 4th and 19th Ave. S. 5325.000.00 . I ! ....- I L _ I - _L _ _ __ _ I -:I~~N OAKS. Pl:;;~;;;;-T----------r----------.l-.. ----------r------- ~ I 26 Section 8 familv renta!units Sl.:! million . I , __ ____ I --- JACKS'ON PARK. Minneaoolis 9 townhomes, 2Jrd and Quincv ~ 5500.000.00 '. . I _~__ I .~~~... . ~. UNIVERSITY PLACE. i'<linneacolis 4 townhomes, 8th :\ vi!. SE and 4th St. . 5400.000.00 .' , , ,...........r.... ...... i....... ....~.-~--;...;~::: -:::::: ::.- UNIVERSITY HISTORIC REHAB, Minneacolis I 1 4 renovated rental units, 8th Ave. SE ana 4th St. 5450.000.00 ., . r f I ._+- I EDEN BLUFFS, Eden Prairie 40 town homes 52.!! million , J . _ .... _ _. _ ~ .. . ........1..-.------1'-------------- ST. PAUL HISTORIC REHAB. St. Paul I 9 renovated rental units, 523 Laure!, 584-588 Selbv 5450.000.00 . . . --- I C1TISCAPE TOWNHOMES. Minneaoolis 60 tcwnhomes. 3rd Ave. NE and 5th St. 54.5 million . .1..........~.--- PARKSIDE APARTMENTS, Plvmouth I 211 rent a! units . S9.3 million I ~~ Cl'[ 63 .. ss.o Wf.\. iJD 16.' ..... PLANNING CONSTRUCTION ----- SALES