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MEMO <br />DATE: January 2, 2009 <br />TO: Economic Development Authority (EDA) <br />FROM: Sean Sullivan, Economic Development Coordinator <br />RE: Staff Update <br />Case # 5 <br />New Business Prospects: <br />Production Design Products — 8,000 SF expansion. Still waiting for RLF request and <br />site plan submittal. <br />QDP Technologies /JBT Machining — (24,000 S.F.) Preliminary drawings have been <br />submitted and a formal site plan is expected within the February. <br />Business Grand Openings: Asset Resources, Diamond Graphics and Tag Machine to be <br />scheduled in Spring. <br />Business Communication Initiatives: Business Expo for March and move Business <br />Connection to Fall? <br />Community Revitalization Projects <br />5175 142 Avenue NW: Nothing to report. <br />14050 Basalt Street: Nothing New to report. <br />6590 141 Avenue: Demolition is complete, and site has been grubbed and prepped for <br />development. Staff is negotiating with Production Design Products for an expansion and <br />reconfiguration of its existing business but will entertain all other offers. <br />14105 Azurite Street: Construction is underway for a 12,000 S.F. manufacturing facility that will <br />be complete in early Spring. <br />Miscellaneous <br />Buxton Study: Marketing Pursuit Packages will be sent out in early January. <br />Town Center: Buxton Study findings will be presented to stakeholders and interested parties in <br />February. The City continues to work With banks involved in the project. Jim Lasher and the <br />City Administrator met with the lead , bank in December to discuss a settlement that could <br />increase the marketability of the land. The Bank has made a proposal to the City in regards to <br />the Master Development Agreement and the City Council will be reviewing it in January. Staff <br />is hopeful that discussions will lead to a transaction that clears the land for development. <br />23 <br />