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<br />PRODUCTION DESIGN PRODUCTS REMODEL <br /> <br />By: Sean M. Sullivan, Economic Development Coordinator <br /> <br />Background: <br /> <br />Case # 2 <br /> <br />Production Design Products, Inc. is located at 14161 Basalt St NW along Bunker Lake <br />Boulevard. Staff had been in discussion with this company in 2009 that would have involved <br />and expansion of the facility, relocation of an existing dock and fayade improvements. The <br />current economic conditions have put a hold on the expansion of this project at this time. Kufre <br />Akpan, owner of PDPI, also owns another business that he would like to bring to his Ramsey <br />location. In order to accomplish this there are significant internal improvements that would have <br />to made to his building. Mr. Akpan is asking the Ramsey EDA to consider providing assistance <br />for this project in order to keep jobs in Ramsey and to bring additional ones in. The preliminary <br />project costs are attached for your review. This project does not involve the removal of the dock <br />facing Bunker Lake Boulevard or construction of a new building fayade as previously discussed <br />with the EDA. <br /> <br />PDPI currently employs 11 people with wages that are. typically over $20/hour. EKSON <br />currently has 4 employees averaging over $20/hour and is planning on expanding. It is estimated <br />that this combined project would create two immediate jobs and potentially more into the future. <br />During these difficult economic times it is important retain a solid employment base within the <br />City when possible. Staff is looking for direction on whether this type of project or utilization of <br />the Revolving Loan fund is appropriate. Furthermore, the business owner would like to have <br />some assurance that the EDA would consider application and funding for this type of project <br />before submittal. The EDA currently administers a low interest RLF loan to Clear Choice <br />Countertops for the purchase of a machine and has a collateral position. The balance in the <br />Revolving Loan Fund is approximately $222,516. The EDA should review the proposed project <br />and give staff direction on how to move forward. <br /> <br />Funding Source: EDA Levy, EDA RLF <br /> <br />Staff Recommendation: <br /> <br />Based on discussion. <br /> <br />EDA Action: <br /> <br />Based on discussion. <br /> <br />Attachments: <br />Site Location Map <br />PDPI project remodeling costs <br />RLF Policy <br /> <br />EDA: 02.11.10 <br />