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w <br />LAKE MINNETONKA CONSERVATION DISTRICT <br />402 EAST LAKE STREET <br />March 14. 1989 <br />WAYZATA. MINNESOTA 55391 TELEPHONE 612/473 7033 <br />eUOENS n. STROMMCN. EXECUTIVE OIRECtOR <br />eOAEO MCMBCnS <br />JoEHvm L Mum CHufr <br />Oro'*" <br />Thomfl* Mwok*. Vlc« Chair <br />Mouofi <br />Jan nof»-vliilir>l. Snriolniy <br />Mlnnriniihn Bancli <br />Mark WrTsilufwI. Daasurar <br />Way> ala <br />Marvin Riotlln <br />Ibnkn Boy <br />David CociHnn <br />Oraaitwood <br />Albart O r o«lor <br />OaapHavan <br />James N Oralharol <br />Encdaior <br />Ron Kraornar <br />Spilnq Park <br />John Lewtnnn <br />Mlnnr>lilsla <br />John O Molinka <br />Vlrlorlo <br />Robert K PItlsbury <br />Minitnlnrika <br />Roliorl Mnnrop <br />Slr<U'*wo4Hl <br />Rolmii F Skroum <br />WDodlnnd <br />Mr. Gerald Toberman <br />SMITH BAY MARINA AND YACHT CLUB, <br />1460 Interchange Tower <br />600 South County Road 18 <br />Minneapolis, MN 55>26 <br />INC. <br />Dear Mr. Wobe^an, <br />We recently became aware of your public advertisement relating to <br />the sale of condominium Interests In Smith Bay Marina & Yacht Club. <br />Certain representations In your advertisement cause us considerable <br />concern. We find it necessary to advise and caution you In regard <br />to the limitations with which you might offer an investment Interest <br />in this marina, these limitations including: <br />1. Your Interest in riparian property and current dock <br />licenses do not entitle your marina to a specific number <br />of boat slips or specific dock design. <br />2. Any such interests in the number of slips or dock design <br />are subject to reduction or modification in the future by <br />LHCD as the public Interest may reasonably require. <br />3. Purchase of memberships In the Smith Bay Yacht Club Associ- <br />tlon giving owners a perpetually renewable designated boat <br />slip . . . and a place on the Lake for a boat as long as <br />he marina operates ... is further specifically limited <br />by the Smith Bay Marina Findings as ordered by the Board <br />on 27 April 1988 which sets 1997 as a limit on certain <br />designated slips per the enclosed Order. <br />We further advise caution in any representation to your purcliasers, <br />that your representations are thoroughly evaluated to ensure no <br />misrepresentations as to the nature of the Interest being purchased. <br />We trust you are as Interested In making a successful venture of <br />your new plan as we are seeing It be successful. Everyone benefits <br />by attractive operations on Lake Minnetonka. <br />Please advise us of your understanding of our concerns, and any <br />exceptions you would make to them as we have pointed out to you <br />at this time. <br />Sincerely, <br />'ugene RT^troinraen <br />Executive Director