11-14-2005 EDA MIN - Laserfiche WebLink

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Economic Development Authority Minutes November 14, 2005 Page 2 Assistant Director of Economic Development Heidi Steinmetz stated that the loop road in the Northstar Business Park has been completed and installation of the small utilities such as gas, electric and phone will begin November 14~. She noted that Alliance Machine, Crystal Distribution, Inc. (CDI), and Medical Extrusion Technologies (MET) have all begun construction of their projects. Ms. Steinmetz provided the following update: The assessment schedule has been completed and will be certified in December. The monument sign design is being revised and quotes will be obtained for Spring 2006 construction. The grant agreement with DEED for the $495,000 grant was recently executed. Ms. Steinmetz noted that the City's Cable Department will be videotaping the construction progress at Northstar Business Pazk on a bi-monthly basis and footage will be incorporated in the City's annual report. Commissioner Gumphrey asked if staff has received any inquiries for the remaining sites in the business park. Ms. Steinmetz stated no. Director of Economic Development Catherine Mehelich congratulated Ms. Steinmetz on her success in obtaining the DEED grant, and the Commission concurred. Ms. Mehelich stated that the process for the grant was very competitive and challenging., and that special permission was required from DEED because two companies relocating their businesses from other communities. Ms. Mehelich stated that the grant will help to reduce the costs to new users coming into the business park. 6. C'r at River Energy Comorate Headquarters Project Update Ms. Mehelich stated that the boundary survey requested by Great River Energy (GRE) was provided to them today for the Gateway Business Center site. Topography and wetland delineation information was also provided. Ms. Mehelich noted that GRE is also looking at sites ui Maple Grove, Dayton, and St Michael. A decision on the site election by the Board is expected in the next week. Consider Recommendation to City CouncIl for Approval of Tax Rebate Financing Assistance for Quality Label Inc Project Ms. Mehelich stated that Quality Label, Inc.. is a family-owned printing company specializing in labels for the food and beverage, health and beauty, promotional and medical industries. The company employs 23 full-time staff with an average hourly wage of $21.00 per hour, and proposes to create 15 additional new jobs with a minimum hourly wage of $15.00. She noted that they anticipate the creation of 30 new jobs within a 5-yeaz period. John Jacobs co-owner of Quality Label, Inc. -Stated that the company currently leases 12,000 squaze feet in Fridley and they are seeking a location within the northwest metro area to relocate and expand in time for their lease expiration in spring 2006. Quality Label, Inc proposes to construct a 25,000 squaze foot light industrial building on a 4.12-aae lot in Elk River Business Park, occupying 80 percent of the space and leasing out the remaining 5,000 squaze feet. He noted that he has worked in the industry for 15 years and also has a companion company in Rogers. Ms. Mehelich noted that the company's `But For" analysis has been completed and that staff recommends the EDA recommend approval of their request.