Laserfiche WebLink
MEMO <br /> <br />DATE: <br />TO: <br />FROM: <br />RE: <br /> <br />· November 18, 2002 <br /> <br />Economic Development Authority (EDA) <br /> <br /> Sean Sullivan <br /> <br /> Staff Updates <br /> <br />Direct Enclosures Sale: The Direct Enclosures building has been up for sale for about one year.. :_ <br />Recently there has been interest in purchasing the building by a number of buyers. Class C :. <br />Components, a company from Brooklyn Park, has expressed interest in the building and is ~. <br />currently negotiating a deal with the owner of Direct Enclosures. Staff has obtained .permission ..: <br />from the City Council and Connexus Energy to enter into an assumption agreement with a .. ':.-:.. <br />qualifying business to transfer the Development Agreement rights and responsibilities to the new. <br />owner. Staff will update the EDA when a sale does occur so that the City can welcome the new <br />business into the community. <br /> <br />U.S. Highway #10 Moratorium: As you may recall on October 14, 2002, the EDA made a <br />recommendation to the City Council to place a year one moratorium on property located between <br />U.S. Highway #10 and the railroad tracks from the Anoka/Ramsey border to Armstrong Blx)d. <br />'The City Council held a public hearing and reviewed the Town Center Task Force and EDA <br />recommendation on October 22, 2002. The City Council received a lot of opposition to the <br />moratorium from the business along U.S. Highway #10. The moratorium .ordinance was <br />introduced on October 22. The City Council met on November 12, 2002 to consider the <br />.adoption of the moratorium ordinance. Council tabled action on the item until such time when <br />the new council has taken office. It is anticipated that the City Council will discuss whether or <br />not to place a one year moratorium along U.S. Highway #10 sometime in February..:or'March of <br />2003. <br /> <br /> Panther Precision: As you may recall, Staff informed the EDA that the City Council would be <br /> reviewing a TIF Agreement between the City and Panther Precision on October 22, 2002. The <br /> City Council approved the TIF Agreement and therefore Panther Precision is moving forward <br /> with plans to construct a new facility in City's new industrial park, Sunfish Lake Business Park. <br /> <br /> <br />