Laserfiche WebLink
Case #2: <br /> <br />Request for Authorization for Execution of a Development Agreement <br />with In-Tech Development <br /> <br />City Administrator Norman stated that the proposed development agreement with In- <br />Tech Development is for construction ora manufacturing facility which will be located in <br />Development District No. 1 and Tax Increment Financing District No. 2, located at the <br />intersection of Sunwood Drive and Ramsey Boulevard in Energy Park. He explained that <br />In-Tech is a machine shop industry, which is a manufacturer of steel fabricators for <br />plastic injection moldings. The company currently operates out of Maple Grove, <br />employs approximately 25 people and is anticipating hiring more with the expansion in <br />Ramsey's Energy Park. In-Tech's proposed 31,700 square foot facility would have an <br />estimated market value of $1,100,000. It is anticipated that the project will generate <br />approximately $25,000 in net increment per year toward the TIF District, which will be <br />used to pay for the $94,817 purchase of land from Connexus Energy. <br /> <br />Upon inquiry, Mark, one of the owners of In-Tech, stated the reason they were moving to <br />Ramsey from Maple Grove is that Ramsey is a growing community and the future of the <br />work force is in this area. That will benefit the company greatly. <br /> <br />Roger Neilsen, Jr. and Roger Sr., also partners ofln-Tech, introduced themselves. <br /> <br />Motion by Councilmember Hendriksen and seconded by Councilmember Anderson to <br />authorize execution of the development agreement with In-Tech Development, <br />contingent upon review by the City Attorney. <br /> <br />Motion carried. Voting Yes: Mayor Gamec, Councilmembers Hendriksen, Anderson <br />and Zimmerman. Voting No: None. <br /> <br />Case #3: <br /> <br />Request for Authorization for Execution of a Development Agreement <br />with Tradesman Properties <br /> <br />City Administrator Norman explained that Tradesman Properties is three contractors <br />(E.L.K. Mechanical, Welle Construction, and Prizm Electric) that will house together in <br />one facility on Sunfish Lake Court. The combined companies currently employ 44 <br />people and it is anticipated that at least 14 new jobs will be created from the construction <br />of this facility. Tradesman Properties will be a 10,016 square foot facility with an <br />estimated market value of $500,000. It is anticipated that the project will generate <br />approximately $15,000 of increment per year toward the TIF District which will be used <br />to pay for the $51,000 in improvement costs. The District is scheduled to be completed <br />in the year 2012. Mr. Norman noted that the development agreement is consistent with <br />others in the past and that it is contingent upon the review of the City Attorney. <br /> <br />Motion by Councilmember Zimmerman and seconded by Councilmember Anderson to <br />authorize execution of development agreement with Tradesman Properties, contingent <br />upon review by the City Attorney. <br /> <br />City Council/May 11, 1999 <br /> Page 5 of 18 <br /> <br /> <br />