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INFORMATION <br />rover <br />MEMORANDUM <br />TO: Economic Development Authority <br />FROM: Heidi Steinmetz, Assistant Director of Economic Development <br />DATE: March 13, 2006 <br />SUBJECT: Incubator Tenant K-Netica Relocation Update <br />Background <br />K-Netica became an Incubator tenant in May of 2002, subleasing 2,267 SF of space. The <br />company has developed a universal human language translator utilized through computer <br />software. The software has a number of key applications fox commercial, government, <br />military, and personal use. <br />The EDA has granted K-Netica six sublease extensions: one fox 9 months, four fox 6 <br />months and most recently one fox two months due to the sale of the Incubator building. <br />Issue <br />Below is a timeline of staffls involvement with the company's relocation efforts. <br />• February 8, 2006 -Staff provided IC-Netica with a list of seven available business <br />park space opportunities. <br />• February 9, 2006 -Staff arranged/attended a tour with the company CEO of the <br />Briggs Properties space. <br />• February 21, 2006 -Staff arranged/attended a tour with the company CEO of space <br />in the Oxluck building. The company CEO indicated that he was not interested in <br />additional site tours. <br />• March 2, 2006 -Recruiter Pete Myxvik of Kfoxce (experienced in recruiting the type <br />of employees needed by K-Netica) contacted K-Netica per staffs request. <br />• March 6, 2006 -Staff informed the company CEO of the option to extend the <br />sublease with the EDA until May 15, 2006 and of the potential opportunity to sign a <br />lease with the future building owner. <br />