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Economic Development Authority Minutes <br />May 13, 2002 <br />Page 2 <br />George and Joanne Adamski of Contour Mold received the manufacturing business <br />of the year award. <br />COMMISSIONER KLINZING MOVED TO DRAFT A LETTER OF <br />APPRECIATION AND RECOGNITION TO SCOTT POWELL AND <br />GEORGE AND JOANNE ADAMSffi FROM THE EDA. <br />COMMISSIONER KOENIG SECONDED THE MOTION. THE <br />MOTION CARRIED 7-0. <br />5. Consider Business Incubator Application - KnowledGenetica Inc <br />Economic Development Assistant Heidi Hall indicated that KnowledGenetica, Inc. <br />is requesting to lease 2,267 square feet in the Incubator for its business offices, <br />business data center, technology library, and product development and testing <br />center. She reviewed the background of the company. Heidi indicated that the <br />Business Incubator Advisory Committee reviewed the application and is <br />recommending that the company be admitted to the Incubator Program. <br />Joe Roushar gave a presentation on his company. <br />COMMISSIONER TVEITE MOVED TO APPROVE THE APPLICATION <br />FROM HIVOWLEDGENETICA, INC. FOR ADMITTANCE TO THE <br />INCUBATOR PROGRAM. COMMISSIONER DWYER SECONDED THE <br />MOTION. THE MOTION CARRIED 7-0. <br />Commissioner ICuester indicated that some incubator space had been turned back to <br />Larry Hickman because it was no longer needed and questioned whether the City <br />needs to reclaim the space. President Gongoll indicated that Larry Hickman, the <br />owner of the building, has indicated a willingness to provide the space to the City <br />once again. President Gongoll thanked Mr. Larry Hickman for his offer. <br />It was the consensus of the EDA to amend the lease to include the additional space <br />for KnowledGenetica. <br />6. Consider Tax Rebate Financing Application -_J.L T Partnership L L P & John C <br />Weicht & Associates. L.L.P. <br />Director of Economic Development Catherine Mehelich indicated that an <br />application for Tax Rebate Financing (TRF) has been submitted by J.L.T. <br />Partnership, L.L.P., and John C. Weicht & Associates, L.L.P. She noted that the <br />partnership, Elk Path, L.L.C. is requesting $200,000 TRF assistance from the city for <br />the construction of a 42,000 square foot professional office building to be located in <br />the West Business Park. Catherine reviewed the background on the request. <br />Catherine reported the developer has estimated the project to create up to 100 new <br />jobs and would have an estimated property tax market value of $3,346,200. She <br />indicated that staff has completed the tax rebate financing proposal review <br />worksheet and stated that the project scored very high in accordance with the city's <br />