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13065 0r0n0 Parkway <br />Elk River, MN 55330 <br /> <br /> December 29, 2003 <br /> <br />SoftPac Industries, Inc. <br />Bill McMullen, President & CEO <br />13512 Business Center Drive <br />ElkRiver, MN 55330 <br /> <br />Dear Mr. McMullen: <br /> <br />This letter is to inform you that SoftPac Industries, Inc. has successfully completed the job creation <br />and wage goals as required within the Development Assistance Agreement by and among the City of <br />Elk River, Opus Northwest, L.L.C, and SoftPac Industries, Nc. dated August 28, 2000. <br /> <br />The Development Assistance Agreement specified the following Job Goals in Section 3.5. (Business <br />Subsidy Agreement) subdivision (h): <br /> "... SoftPac covenants that it will provide at the Project 60 full-time equivalent permanent <br /> employee positions within two years of the Benefit Date (November 20, 2003), with these <br /> jobs having wage levels of at least $10.00 per hour, exclusive of benefits." <br /> <br />Sean Lawler has recently reported to me that SoftPac Industries, Inc. has created a total of 61 full- <br />time jobs and 7 part-time jobs as of November 20, 2003. Attached is a copy of the most recent MN <br />Business Assistance Form, which will be submitted to the MN Department of Employment & <br />Economic Development (formerly DTED). <br /> <br />The City of Elk River is pleaied that SoftPac Industries, Inc. has held true to the job creation and <br />tax base goals that were established with its location to Elk River. Please feel free to contact me to <br />discuss any issues related to SoftPac's continued growth and success in Elk River. <br /> <br />Sincerely, <br /> <br />Catherine Mehelich <br />Director of Economic Development <br /> <br />CC: <br /> <br /> Sean Lawler, SoftPac Industries, Inc. <br />~ River Mayor & City Council <br /> Elk River Economic Development Authority <br /> <br />Phone: 763.635.1000 <br />Fax: 763.635.1090 <br /> <br />www. ci.elk-river, mn.us <br /> <br /> <br />