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<br />Case # 2 <br /> <br />Consider Sale of 6030 Bunker Lake Boulevard NW <br /> <br />By: Sean Sullivan, Economic Development Coordinator <br /> <br />Background: <br /> <br />Staff has been in contact with the management group for Zero-Zone Refrigeration. The company has expressed <br />interest in purchasing the property adjacent to it existing facility on Bunker Lake Boulevard. Staff has been told <br />that an offer will be submitted on July loth. <br /> <br />Observations: <br /> <br />Industrial and in Ramsey has been selling between $2.00-2.75 per square foot. The parcel in question was <br />subdivided as to provide expansion room for the then Systematic Refrigeration. Although Zero-zone is not <br />looking to expand immediately they are looking to secure their future in Ramsey. The land is somewhat limited <br />by the fact that it doesn't have access to Bunker Lake Boulevard. There are also access issues from the south on <br />a cross easement that devalue the property to some extent. Staff assumes an offer will be submitted in the lower <br />spectrum of the above mentioned price range due to the nature of the property. <br /> <br />Recommendation: <br /> <br />Based on Discussion and submittal of offer. <br /> <br />EDA Action: <br /> <br />Motion to recommend/not recommend approval of sale of 6030 Bunker Lake Boulevard NW to Zero-Zone <br />Refrigeration. <br /> <br />EDA: 07.13.06 <br />