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CITYof ORONO <br />Municipal Offices <br />Street Address: Mailing Address: <br />2750 Kelley Parkway P.O. Box 66 <br />Orono, MN 55356 Crystal Bay, MN 55323-0066 <br />Mr. Tim Golie <br />Alpine Capital, LLC <br />1003 Twelve Oaks Center <br />15500 Wayzata Blvd. <br />Wayzata, MN 55391 <br />February 18, 2000 <br />RE: AUTHORIZATION TO REDUCE LETTER OF CREDIT FOR BOHLAND <br />DEVELOPMENT, INC. FOR IMPROVEMENTS WITHIN PLAT OF CARRIAGE HILL <br />Dear Mr. Golie: <br />The City of Orono hereby authorizes a reduction in the financial guarantee for Bohland Development <br />for improvements within the development of Carriage Hill. The financial guarantee of $143,400 was <br />reduced to $55,650, based on a recent inspection the City of Orono has reduced the amount an <br />additional $12,750 to retain a balance of $42,900 based on the site improvements noted in the letter <br />dated February 17, 2000 by Tom Kellogg, City Engineer. <br />Please contact me at (612) 249-4600 if you have any questions regarding this matter. <br />S' ly, <br />Paul Weinberger 0 <br />Zoning Administrator/Planner <br />cc: Steve Bohl, Bohland Development, Inc. <br />Greg Gappa, Director of Public Services <br />Thomas Kuehn, Finance Director <br />Telephone (612) 2494600 - Fax (612) 2494616 <br />