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Case #1 <br /> <br /> Potential Business DeVelopment (Hanson Property) <br />By: Sean Sullivan, Economic Development/TIF Specialist <br /> <br />Background: <br /> <br />Staff has identified a viable candidate to develop the Hanson property (See Map). The selection process should <br />take into account diversity, tax impacts, job creation, growth potential and other factors. Staff has been <br />negotiating with the prospective business but it is important to have input from the EDA. The intent of this <br />discussion is to gain input and insight from the EDA as to whether this business will be a good selection. <br /> <br />Observations: <br /> <br />Staff has been recently in contact with~ this business for-over two years. The name is left off to keep <br />confidentiality. There have been other general inquiries but this business has presented the City with the <br />required infbrmation stating what the project consists of' and has a definite timeline that will lead to Spring <br />construction. <br /> <br /> Estimated Estimated Job <br />Business Proposed Square Market Property Current Creation Wage City of Finish <br />Type Footage Value Tax Generated Employees (two years) Range Origin Date <br /> <br />Precision Machine $18- Oak End <br />Shop 10,000-18,000 $510,000 $17,000 4 4-5 $21/hr. Grove 2005 <br /> <br />This project will create high paying jobs, substantial growth potential and some industry diversity to the general <br />redevelopment area.. <br /> <br />Recommendation: <br /> <br />Staff recommends approving the precision machine shop project and to complete negotiations. <br /> <br />Review Checklist: <br />Community Development Director <br />Associate Planner <br /> <br />EDA: 02.09.05 <br /> <br /> <br />