12/20/01 Waatti/Offer to Purchase Lot 1PEAK
DEVELOPMENT
& PROPERTY MANAGEMENT
December 20, 2001
City Clerk
City of Kalispell
312 —1" Ave. East
Kalispell, Montana 59901
This is to confirm our offer to purchase 2.98 acres, Lot 1, Daley Field Subdivision,
located at Kalispell's south entrance per your offer to sell dated December 7, 2001.
Our offer addresses the following criteria as follows:
1. Price per square foot — We are offering $358,270.00 or $2.76 per sq. ft.
Because our request for TIF funds for our Southfield Park project was denied,
we hope the City will provide us with TIF funds for this project.
2. Cash will be provided at closing (within 90 days of the award of bid).
3. We have a tenant interested in 30% of this space and once we have a
commitment for another 40%, construction will begin. In any case, our intent
is to begin construction well before Fall, 2004 so we achieve a return on our
investment as quickly as possible.
Our initial analysis for this site, including some preliminary sketches to identify the best
use of this property, suggest that we might be able to construct approximately 25,000 to
30,000 sq. ft. of retail/commercial buildings at a construction cost of approximately $2.5
million. This should generate some $50,000 in annual tax revenue.
Enclosed are site plans and elevations showing conceptual ideas for this site.
Information about Peak Development is included in the brochure that accompanies this
offer. As you are aware, we have completed a number of projects that prove our ability
to produce quality facilities with our experienced design -build team.
Sincerely,
M
Matthew J. Waatti
Office Qo6) 756-PEAK(7325) Southfield Tower
Toll -Free i-888-9oi-PEAK(7325) PO Box I, 1830 3rd Ave. E., Suite 301
Fax (4o6) 257-6012 Kalispell, MT 59903