Agenda - Council - 05/22/1990 - Laserfiche WebLink

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I I I I I ! I ! i I I I i- i I I ! I To: City of Ramsey Dennis L. Sh-~p 10907 93rd Avenue ~orth Maple Grove, M~ 55369 May l, 1990 Application For Tax Increment Financing RECEIVED MAY 1 1990 ~s'~ ............ Applicant: Dennis L. Sharp Address: 10907 93rd Avenue North, Maple Grove, MN 55369 Phone: (612) 425-2002 Project: Lot 2, Block 1, Gateway North Industrial Park Project Description: 60,032 sq. ft. office/warehouse building constructed of masonry walls and bar joist roof. Assistance Request: to finance the following costs of the proposed building through tax increment: Site preparation Sewer and water extensions to the site Curb and gutter Handicap facilities Asphalt base and preparation Landscaping Exterior lighting Total $20,000.00 $23 000.00 $11 400.00 $2 000.00 $25,815.00 $26 500.O0 $8,?00.00 $117415.00 Project Value: One Million Two Hundred Thousand Dollars ($1,200,000.00) Site Plan: Enclosed Jobs Created: Forty to ~'~ ~m~y people will be working at the facility in sales, warehouse and office personnel. The project is an extension of an existing business in Ramsey known as Para Body Inc. located Et 60~3 Highway 10 NW, Ramsey. The present location is a manufacturing plant which will remain. The new facility will be a replacement and enlargement of a facility which is now being rented in Fridley, Minnesota. The project must be complete by September 1st since the existing lease in Fridley expires at that time and extensions are highly improbable. In order to complete the project on schedule, the construction must be underway by June ~, ]990. The owners of Para Body, inc. will be leasing this facility from the applicant under a ten year lease with the option to purchase. Para Body inc. expects to double the size of this facility within the next three to five years for storage and possibly include the manufacturing facility with a second addition.