New Fairgrounds Proposal0V08/99 11:39 FAX 6123387236 CHRISTENSON BLDG CORP.
Q002
September 7, 1999
Mr. Dale w, Williams, Chairman Mr. William Boharski
Flathead County Board of Commissioners Mayor of Kalispell
800 South Main 312 1't Avcnuc East
Kalispell, Montana 59901 Kalispell, MT 59903
RE: Proposed New Fairground Site
Kalispell, Montana
Dear Sir:
Thank you for allowing us this opportunity to submit a proposal for relocating the
Fairgrounds from its current location to a new site at Highway 93 and Reserve.
Our proposal is to provide the County a site in the Northeast quadrant of Highway
93 and Reserve Drive, complete with perimeter road, enclosed grandstand, track
and other buildings shown in the attached drawing. We will trade this site for
your current Fairground site,
Our estimated cost to perform the work at Highway 93 and Reserve Boulevard
amounts to approximately $21,900,000 and is outlined in the attached Exhibit A.
Also included is the schedule showing our process in completing this work.
If this proposal is acceptable to you, please inform us and we will begin securing
letters of intent from retailers. Because we are currently dealing with the same
tenants on alternate sites, we ask that you review this proposal and inform us of
your level interest by September 15, 1999 at 612-339-7173.
If you desire itional information or clarification on any item in this letter,
pleaA *1 _
Ronald
RAC/nbf
cc: Howard Gripe Bob Watne
Development and Gonstuction Management Services
50 South Ninth Street • Suite 200 • Minneapolis, Minnesota 55402 • (612) 338-7173 - Fax (612) 338-7236
0.9/08/99 08:10 FAX 6123387236 CHRISTENSON BL)G CORP.
10004/005
Exhibit B
Proposed Fairgrounds Site (Soft Costs)
Highway 93 and Reserve
Kalispell, Montana
Cost
Item
Estimate Notes
Design
$
500,000 (1)
Appraisal
$
20,000
Insurance
$
20,000
Accounting
$
10,000
City fees
$
MAO
Legal
$
50,000
Real Estate Taxes
$
10,000
Real Estate Commission
$
120,000
Finance
$
740,000 (2)
Project Management
S
500,000
Contingency
$
300,000
$ 2,300,000
Notes
(1) Architectural & Structural $ 400,000
Mechanical & Electrical Included
Soils $ 10,000
Civil $ 50,000
Environmental $ 10,000
Miscellaneous $ 30.000
Total $ 500,000
otes
(2) Finance
$ 150,000
Construction Loan
$ 150,000
Mortgage
$ 400,000
Appraisal
----------
Legal
$ 30,000
Contingency
$ 10-000
Total $ 740,000
END OF EXHIBIT
Development and Constuction Management Services
50 South Ninth Street - Suite 200 w Minneapolis, Minnesota SW2 - (612) 338-7173 - Fax (612) $38-7236
09/08/99 08:09 FAX 6123387236 CHRISTENSON BLDG CORP.
0 003/005
• ..st.;'k-A
Exhibit A (9/7199)
Proposed Fairgrounds Site
lEghway 93 and Reserve
Kalispell, Montana
Cost
item
Estimate
Notes
Site Development
$ 8,000,000
(1)
Grandstand/Arena
$ 7,000,000'4
Other Free Standing Buildings
$ 3,000,000
Race Track (1/2 Mile)
$ 600,000
Parking Lot
$ 1,000,000
Soft Cost
$ 2,300,000
(2)
Sub -Total
$21,900,000
(3)
Less T.I.F. from retail sites
( 9,000,000)
Box Seat Sales Revenue
3,000,000)
Total
$ 9,900,000
otes
(1) Includes both Commercial and Domesite costs described in 7ackola's report dated
6/21/99 and related land (including the 22 acre domesite and the 38 acre retail
site).
(2) See attached Exhibit B. Includes soft cost for Fairgrounds building construction,
(3) T.T.F. based on Real Estate taxes paid by the retail development on the old
Fairgrounds site.
END OF 00 BIT
Development and Constuction Management Services
50 South Ninth Street • Suite 200 • Minneapolis, Minnesota 55402 • (612) 338-7173 - Fax (812) 338-7236
09/08/99 11:40 FAX 6123387236 CHRISTENSON BLDG CORP.
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