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May 4, 1994 <br /> <br />Mr. Dennis L. Sharp <br />Sharp and Associates; <br />10907 - 93rd Avenue ~North <br />Maple Grove, MN 55B69 <br /> <br />RE: PROPOSED M!ULTI-TENANT INDUSTRIAL <br /> <br />BUILDING <br /> <br />Dear Mr, Sharp: <br /> <br />The City Staff have .e'°mpleted a preliminary review of the numbers for your proposed facility on County <br />Road #116. It would ~appear that the City is able to consider assisting you in the development of the facility. <br />Assuming we accuratdly understand your project and contingent upon City Council approval of a development <br />agreement, site plan ~nd public improvements, we believe the following is possible and apPropriate. Ail <br />numbers must be verified, but this will give us a place to start. · <br /> ,,. <br />1) The City coul{l provide assistance at $1.00 per square foot for Phases I and 2. Thc total estimated <br /> square footagd would be 26,632. <br /> <br />2) We would discuss the timing of the first capital infusion of.~$26,632 (first actual increment is received <br /> in 1996). <br /> <br />3) Any future allpcations over the term of the agreement will be made after verification of payment of <br /> property taxes~ <br /> <br />4) We would expect to limit the length of the agreement (and cos'ts incurred by the City) to a five to seven <br /> year period. <br /> <br />5) We will require an assessment agreement for a minimum value of $833,100 for the term of the <br /> contract. ' <br /> <br />Please review these numbers to see if they facilitate .your proposed facility. If they are acceptable, the City <br />would like to assist w~th the site plan review process. For your use, I have included a cOpy of the site plan <br />application packet. A~ you will note, the deadline for the June Planning Commission meeting is May 17. In <br />order to best facilitate ~he construction in 1994, it would be ideal to request approval at this meeting. <br /> <br />Should you have any questions concerning this proposal, please contact met at 427-1410. <br /> <br />Sincerely, <br /> <br />CITY OF RAMSE¥ <br /> <br />James D. Gromberg <br />Economic Developmerlt Coordinator <br /> <br />JDG/jkl <br /> <br />cc: Ryan Schroeder, City Administrator <br /> <br /> <br />