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Page 2 of 2 <br />Further, K-Netica has indicated that it might be a good candidate for being an anchor tenant at the far end of a <br />building and then growing towards the middle. <br />During the period in which the incubator program is out-sourced to the private sector building <br />owners/managers, it is proposed that Genesis continue to serve the economic development interests of the City <br />of Elk River and its EDA by means of continuing to market Elk <br />River as a destination for high tech and/or growing companies. This marketing is done literally on a global basis <br />as Genesis participates in several conferences around the U.S. and throughout the world. And the national <br />interest in energy alternatives at this time makes Elk River a great location for companies at various stages of <br />development to consider this community for its base of operations. Perhaps, with the developments at the <br />major utility company based in Elk River, this may also be a good time to ask for special one time incentives or <br />assistance from that company to help put together an energy focused incubator/economic development <br />program. <br />It is proposed that the City of Elk River's EDA retain Genesis for general marketing purposes at the same <br />monthly rate of compensation on a month by month basis for six months with a six month renewal option at the <br />same rate of monthly compensation at the sole and absolute discretion of the City of Elk River's EDA. <br />It is anticipated that by the end of the first six month period, the seed capital situation in the markets will be <br />stabilized and generally regarded as on the mend/upswing. It is then anticipated that the demand for flex space <br />for early stage companies will be at a significantly higher level than it is at present (February 2006). <br />Respectfully submitted <br />Harlan <br />Harlan T. (Ted) Jacobs <br />President, Genesis Business Centers, Ltd. <br />3989 Central Avenue NE Suite 630 <br />Columbia Heights MN 55421 <br />(North Suburban Minneapolis/Twin Cities) <br />Tel 763 782 8576 <br />Fax 763 782 8578 <br />Mobile (Minnesota/Wisconsin/Europe,Canada): <br />612 701 8153 <br />Mobile in rest of U.S.A.: <br />612 743 8730 <br />TedGenesis@aol.com <br />HarlanGenesis@mac.com <br />HarlanJacobs@GenesisCenters.com <br />www.GenesisCenters.com <br />2/8/2006 <br />