Request for Withrdawl from ApplicantLand Investors, LLC
1375 East Braemere Rd., Boise ID 83702 Phone 208-371-d110 Fax 208-395-0230
city council
City of Meridian
Re: Trade Plaza. Prelinunary Plat - PP08-008
Dear City Counsel
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~~i~v~ Clerk ~co
It is with great regret that we hereby withdraw our application for Trade Plaza. Subdivision that was
scheduled for the October 14 City Council meeting
After investigating numerous alternatives we have concluded that we can not meet the condition of
constructing all of Corporate Drive as part of Phase 1. Unfortunately we do not have the money nor
can we obtain bank financing unless we have pre-sold or pre-leased a portion of the properly in what
we proposed as Phase 2. Such pre-leasing/sales are much more difficult to attract without a
subdivision showing small business that we have smaller and more affordable building opportunities
available to them. We need small lots to solicit leasing/sales from prospective tenants/buyers in order
to gain bank financing for development, and yet we can't get the subdivision approved without
significant up-front development expenditures, the capital for which, is unavailable.
We desire to develop our land as quickly as possible and would gladly construct Corporate Drive
when we commence development, and we would commence development as soon as we have a
buyer/tenant, even if such a buyer or tenant is for a fraction of the property.
Even though we would like to move ahead with this application, we cannot meet the Conditions of
Approval and must therefore, with deep disappointment, withdraw the application.
Sincerely,
!/Li/
Ron Sargent
Manager
Cc Bill Parsons, City of Meridian Planning Department
Caleb Hood, City of Meridian, Planning Department