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<br /> <br />:aNTHeR. <br /> <br />Precision MCichine <br /> <br />April 3, 2008 <br /> <br />Mr. Sean Sullivan <br />Economic Development Coordinator <br />7550Sunwood Dr. NW <br />Ramsey, MN 55303 <br /> <br />Dear Sean, <br /> <br />As we have discussed, Panther PrE!cision MachinE! (Panther) would like to purchase a portion of <br />the lot immediately to the east of Panther's current property. This is necessitated by our <br />anticipated growth over the next several years. We feel the relationship between Panther and <br />the City of Ramsey has been excellent over the years and wish to continue to grow with the <br />City. Since relocating to Ramsey in2003, Panther has undergone one major expansion and <br />currently has 30 employees. In less than 5 years,we have grown by19 employees. <br /> <br />Our future growth plans require additional production space and we cannot expand further on <br />our current site. . Therefore the land immediately to the east would provide an attractive location <br />to erect a produCtion facility of 25-30,000 sq ft, However, as you are aware, the condition of the <br />soil has some significant issues that need to be addressed prior to being suitable for a building <br />site. <br /> <br />Therefore, we propose a joint effort between Panther and the City of Ramsey, which will result. <br />in the necessary improvements being completed. Listed below is an overview of our proposal: <br /> <br />1. Panther proposes the purchase of the buildable portion of lot 1, block 1, Sunfish Lake <br />BusineSS Park (approx. 2.2 acres) and construct a 25 -'- 30,000 sq ft manufacturing <br />facility (in accordance with appropriate City building requirements). The building will be <br />completed no later than December 2009. . <br /> <br />2. Because of the existing soil conditions, additional soil tests and correction needs to be <br />completed. Initial engineering studies indicate this would result in the existing ponding <br />area being relocated in order to free up sufficient space for an adequate building pad. <br />Panther will absorb the cost of necessary soil correction as well as the relocation of the <br />pond to a location mutually agreeable to Panther as well as the City of Ramsey. <br /> <br />3. Landscaping of the area surrounding the relocated pond would be the responsibility of <br />the City. Panther will be responsible for appropriate landscaping around the building <br />site. <br /> <br />4. Panther will assume responsibility for maintenance of the landscaping for the entire site <br />for a minimum period of 5 years. <br /> <br />Panther Precision Machine · 6640 Sunwood Dr. NW · Ramsey, MN 55303 <br />28 Tel (763) 586-9651 . Toll (866) 297-9651 Fax (763) 586-9652 info@pantherprecision.com <br />