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City Attorney Goodrich replied that he would agsume that Peek Propertie~ want~ to be relieved <br />from their obligations. <br /> <br />Councilmember Hendriksen stated that there was no one present to answer the financial abilities <br />of the woodworking company to meet the obligations. <br /> <br />Joe Semmler, Great Woods Woodworking, stated that he has been in business since 1990, and <br />they primarily build cabinets for new construction. Currently he has 22 employees and they are <br />looking to expand. <br /> <br />City Attorney Goodrich reviewed the TIF agreement that was in place with Peck Properties. <br />Mr. Semmler agreed with the agreement. <br /> <br />City Attorney Goodrich inquired if Mr. Semmler was willing to comply with the terms of the <br />agreement. <br /> <br />Mr. Semmler replied yes. <br /> <br />City Attorney Goodrich inquired if Mr. Semmler was willing to comply with employment <br />requirements. <br /> <br />Mr. Semmler replied yes. <br /> <br />City Attorney Goodrich inquired if Mr. Semmler had given all of his financial information to Mr. <br />Mulrooney. <br /> <br />Mr. Semmler replied that Mr. Mulrooney had talked with his bank. <br /> <br />Motion by Councihnember Hendriksen, seconded by Councilmember Anderson, to authorize <br />execution of Assignment, Assumption, and Amendment of Contract for Private Development to <br />Great Woods Cabinetry pending City Attorney approval. <br /> <br />Further discussion: Councilmember Zimmerman inquired as to what percentage of responsibility <br />Mr. Semmler will be assuming. City Attorney Goodrich replied that Mr. Semmler would be <br />assuming the entire responsibility. Mr. Semmler explained that he will be purchasing the entire <br />building and Great Woods Cabinetry will be one of the many tenants in the building. <br />Councihnember Hendriksen inquired if Mr. Semmler will be owning the building personally. <br />Mr. Semmler replied yes. <br /> <br />Motion carried. Voting Yes: Mayor Gamec, Councilmembers Hendriksen, Anderson, Kurak, <br />and Zimmerman. Voting No: None. <br /> <br />City Council/March 26, 2002 <br /> Page 21 of 25 <br /> <br /> <br />