Laserfiche WebLink
<br />Case # 3 <br /> <br />CONSIDER SALE OF LOT 5, BLOCK 4, GATEWAY NORTH INDUSTRIAL PARK PLAT 2 <br />By: S~an Sullivan, Economic Development Coordinator <br /> <br />Background: <br /> <br />The City of Ramsey has been actively negotiating with Mundt Legal/North Central Satellite to locate a 10- <br />15,000 SF facility Gateway North Industrial Park Plat 2. The Site Plan for this project will be submitted for <br />consideration at the December 6, Planning Commission meeting. Mundt Law/North Central Satellite currently <br />employs 16 and anticipates hiring an additional 5 persons within two years of moving into the new facility. The <br />project will be valued between $1.2 and $1.5 Million upon completion. The project will generate <br />approximately $21,000 annually in property taxes. The negotiateq 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 ty~e of business will add to the diversity of the industrial tax base of the community. <br /> <br />Recommendation: <br /> <br />Staff recommends approval of the sale of LOT 5, BLOCK 4, GATEWAY NORTH INDUSTRIAL PARK <br />PLAT 2 to Mundt Legal/North Central Satellite and to make that recommendation to City Council. <br /> <br />EDA Action: <br /> <br />Motion to recommend sale of LOT 5, BLOCK 4, GATEWAY NORTH INDUSTRIAL PARK PLAT 2 to . <br />Mundt Legal/North Central Satellite and to recommend this action to City Council. <br /> <br />EDA: 10.18.07 <br /> <br />13 <br />