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<br />Case # 2 <br /> <br />CONSIDER SALE OF LOT 2, BLOCK 1, SUNFISH LAKE BUSINESS PARK FOURTHADDITION <br />By: Sean Sullivan, Economic Development Coordinator <br /> <br />Background: <br /> <br />The City of Ramsey has been actively negotiating with Diamond Graphics to locate a 50,048 SF facility in <br />Sunfish Lake Business Park The Site plan for this project has been submitted and it is scheduled for <br />consideration at the November 1, Planning Commission meeting. Diamond Graphics cUrrently employs 50 <br />employees and anticipates hiring an additional 12 persons within two years of moving into the new facility. <br />The project will be valued between $2.5 and $3 Million upon completion. The project will generate <br />approximately $50,000 annually in property taxes. The negotiated TIF Assistance Package will be based on <br />City Council guidelines that like to see one job created for every $25,000 of assistance provided. Staff <br />acknowledges that this type of business will add to the diversity of the industrial tax base ofthe community. <br /> <br />Recommendation:" <br /> <br />Staff recommends approval of the sale of LOT 2, BLOCK 1, SUNFISH LAKE BUSINESS PARK FOURTH <br />ADDITION to Diamond Graphics and to make that recommendation to City Council. <br /> <br />EDA Action: <br /> <br />Motion to recommend sale of LOT 2, BLOCK 1, SUNFISH LAKE BUSINESS PARK FOURTH ADDITION <br />to Diamond Graphics and to recommend this action to City Council. <br /> <br />EDA: 10.18.07 <br /> <br />11 <br />