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1VIr. Steve Garman <br /> October 30, 2000 <br /> Page 2 <br /> The proposed tenant will pay an annual rental in the amount of$40,000.00. The cost of the initial <br /> phase of this construction will be in excess of $200,000.00. The Library is asking the City for <br /> $175,000.00 at an interest rate of five percent (5%) in the form of a loan to be paid back over <br /> eight (8) years. We hope that the City will act favorably on this request. <br /> I would be happy to talk with you concerning this matter. Thank you for your <br /> consideration and support. <br /> Very truly yours, <br /> DECATUR PUBLIC LIBRARY <br /> By: <br /> Mark D. Gibson, <br /> President Board of Trustees <br /> NIDGlbkd <br /> Enclosure <br />