Updated Response, p 4

Letter of Interest
To: John Hanifan, City Manager City of Chelsea 305 S. Main City of Chelsea MI, 48118
From: The Chelsea Connection, LLC
Date: July 14, 2010
Re: Former Longworth Plating Site – RFP DDA-001
Introduction
The Chelsea Connection, LLC (TCC) is pleased to submit our Updated Initial Response to RFP DDA-001.
We propose to purchase the site and buildings from the Chelsea DDA for $200,000, and to redevelop the property through the adaptive reuse of most of the existing structures, as detailed herein.
Immediate Action Requested
We respectfully request that the DDA take immediate action to approve the sale, and to expedite necessary transactions for several reasons, including:
• Barring a surprising new development, there does not appear to be another party interested in developing the property. Prior to Kincaid-Henry announcing their intention to submit a proposal at the April 2010 DDA meeting, the DDA had a proposal on the table to begin negotiations on a sale of the property to TCC.
• Lack of positive response (to our proposals) and action by the DDA has made securing tenants, venture capital and even grants extremely difficult. We and our potential partners need assurance that the DDA is serious about working with TCC to positively impact Chelsea through the adaptive reuse of these buildings.
• Roofs and other components of the building envelope throughout the complex continue to leak into the structures, further degrading their condition, increasing renovation costs, and risking spread of contaminants.
• Delays will risk that another construction season will be lost without any positive action being taken to redevelop the site and return it to the tax roles.
• One of our major prospective tenants, The New Chelsea Market intends to relocate as soon as possible and is committed to moving their business before the holidays 2010. If immediate