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Member Elvig stated he did not feel it was the City's intent to sell this property at a significant <br />profit; rather, it is more important that the area be revitalized. He asked if ACE Solid Waste's <br />proposed purchase of the property will bring tax dollars and employment into the City. <br />Economic Development Coordinator Sullivan stated that the EDA has previously discussed the <br />importance of balancing the need to seek out new businesses with fostering the relationships with <br />its existing businesses; he stated that ACE is looking to expand in the City and the proposed sale <br />represents an effort by the City to further its relationship w <br />Chairperson Riley stated the EDA considered <br />that ACE does not have a specific project for i <br />expansion of its existing facility. <br />Economic Development Coordinator Sullivan s <br />approximately 12,000 square feet, which provi <br />quantify jobs for the project, but noted that ACE <br />property. He felt that any other business would 1: <br />Economic Development Coordinator <br />market value of a site, assistance amo <br />sites; under this TIF scenario, the City <br />a commitment for the creation of four i <br />Member Elvig stated the sale also be <br />base. L ft <br />s - erty and weighed the fact <br />this E has indicated it will be an <br />has coin building of <br />added thWz-' s unable to <br />any financial assistance on the <br />Lassistance on this site. <br />pical �; d on job creation and <br />area of , 0,000 for these types of <br />k W chase price of $105,000 and <br />was interested. <br />back into the City's future tax <br />by Nlernber Kiefer, to recommend. to the City <br />North Industrial Park Plat 2, to Ace Solid Waste, <br />.ase Agreement at a stated sale price of $286,000. <br />ley, Members LeTourneau, • Kiefer, Elvig, and <br />Steffan and Strommen. <br />ion to the EDA for its support of the company's business in <br />Is very fortunate to have a good working relationship with <br />appreciates the fact that ACE has been a good corporate <br />Sale of Lot 2, Block 1, Sunfish Lake Business Park Fourth <br />Economic Development Coordinator Sullivan stated the City has been actively negotiating with <br />Diamond Graphics to locate a 50,048 square foot facility in the Sunfish Lake Business Park. He <br />ad HIM <br />Economic Development Authority /October 18, 2007 <br />Page 3 of 10 <br />