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Offer For St. Paul’s

Printed By Request:

Robert L Schoelle Jr

Village Administrator

Dear Mr. Schoelle:

I have been authorized by my client, Simon Karimzadeh, of Eskar Ltd of London, once again, to offer to rent the above-mentioned property for 99 years, subject to the Village alienating the property from Park Land and rezoning it to allow residential use. He agrees to pay an annual rental of $200,000 and will develop the property in accordance with the original proposal submitted in 2007.

Eskar has replaced their previously mentioned local partner, The Litas Corporation, with HRH Construction. HRH will serve as Construction Manager.

The salient features of the proposal include:

1. Renovation of St Paul’s School in accordance with the Federal Tax Incentive Program of the Department of the Interior.

2. Real Estate taxes, not PILOT, will be paid to the Village. After speaking to the Village Tax Assessor, we estimate that our annual taxes will be $420,000.

3. The important spaces of the South Wing on the first floor and the chapel will be designated for Community Use.

4. Eskar plans to build 46 luxury rental apartments and 8 middle-income apartments within the existing space of St. Paul’s School. No expansion of the building itself is planned, but the proposal includes ten new townhouses in the rear of the property.

5. 75% of the rental apartments will be marketed to people over 55 without school-age children.

6. All the required parking is underground, except for the townhouse parking, which will be enclosed within the individual townhouses.

I would greatly appreciate your scheduling me to speak at the August or September meeting of the Village Board in order for this proposal to be heard by all interested parties.