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<br />Case # 4 <br /> <br />MEMO <br /> <br />DATE: <br /> <br />November 2, 2007 <br /> <br />TO: <br /> <br />Economic Development Authority (EDA) <br /> <br />FROM:. <br /> <br />Sean Sullivan, Economic Development Coordinator <br /> <br />RE.: <br /> <br />Staff Update <br /> <br />New Business Prospects: <br /> <br />Unnamed Prospect - Manufacturer from Wisconsin (17-30,000 SF) <br /> <br />Unnamed Prospect - 24,000 SF Manufacturing Company to build i!l2008 <br /> <br />Unnamed Prospect - Manufacturer in tools and plastics; size unknown <br /> <br />Business Grand Openines: None <br /> <br />Business Communication Initiatives: None <br /> <br />Community Revitalization Proiects <br /> <br />5175 142ndAvenue NW: Nothing new to report. <br /> <br />14050 Basalt Street: Staff and the EDA have recommended the sale of the subject property to <br />Ace Solid Waste. The City Council decided to counter-offer for $310,000. More updates to <br />come. <br /> <br />14220 Basalt St NW: Asset Resources, 14,329 SF Project <br /> <br />14230 Basalt St NW: Asset Resources, 14,329 SF Project <br /> <br />6590 141st Avenue: Demolition is complete and Staff is negotiating with Production Design <br />Products for and expansion and reconfiguration of its existing business. <br /> <br />Miscellaneous <br /> <br />Town Center: MinnWest Bank has rescheduled the foreclosure auction to December 7,2007. <br /> <br />Additional Parcels Identified for Acquisition: Settlements for Eugene Brown and Sparkle Pool <br />have been reached. The Brown Property will be demolished in October and combined with <br />14230 Basalt to be developed. Sparkle Pool will continue to operate at its present location but <br />will vacate tl1e premises by November 30,2007. A settlement for KIH has not been reached and <br />it is taking longer than originally thought. It shoul~ be completed prior to the end of November. <br /> <br />18 <br />