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I <br />I <br />I <br /> <br /> Memo <br /> <br />To: <br /> <br />From: <br /> <br />CC: <br /> <br />Date: <br /> <br />Re: <br /> <br />Jim Norman <br /> <br />Michael J. Mulrooney <br /> <br />Bill Goodrich <br /> <br />March 24, 2000 <br /> <br />Development Agreement with Mateski Properties, LLC <br /> <br />Jim, a limited liability company known as Mateski Properties, LLC is proposing to <br />construct a 80,000 SF manufacturing facility in the Ramsey Business Park 95. <br />Mateski Properties, LLC is the real estate holding company for Systematic <br />Refrigeration, Inc. which will be relocating to the new building from the Rogers <br />area. <br /> <br />The project will be located at the intersection of Radium Street and 140th Ave. N. <br />W. On a 6.42 acre site known as Outlot A. The building will be constructed <br />according to development guidelines of the city and covenants of the Business <br />Park 95. The cost of the building is projected to be in excess of $3.1 million. <br /> <br />The company currently employs 43 people, many of which already reside in <br />Anoka County. Systematic is growing rapidly and is projecting that they will be <br />creating 50 new jobs within 2 years of completion of the project bringing total <br />employment to 93. <br /> <br />Corporate Address: 8960 Springbrook Drive Phone: <br /> Suite 230 Fax <br /> Mpls. MN 55433 <br /> <br />(612) 780-7900 <br />(612) 786-6606 <br /> <br /> <br />